In this article, we highlight some industry developments from 2017 and offer a snapshot of what the New Year may hold, such as an increased demand for tele-dermatology, topical scar treatments, silicon-based scar treatments and hair transplantation services.
DERMATOLOGY IS IN DEMAND
According to the investment banking services firm, TripleTree, the U.S. market for skin disease treatments was $7.5 billion in 2015 and is expected to reach $8.6 billion by 2020. IBIS World reports that the current annual spend in the United States for dermatology services is nearly $11 million.
Aging baby boomers and an ongoing steady rise in the number of melanoma cases will continue to feed the demand for dermatology services. The National Cancer Institute reports that approximately 22.3 of 100,000 men and women were diagnosed with melanoma each year between 2010 and 2014. Men and women between the ages of 65 and 74 years are affected more than other age groups. There are currently an estimated 1,169,351 people living with melanoma in the United States. Of the 10 most common cancers, melanoma ranks five with 87,110 new cases in 2017 as compared to 79,000 for bladder cancer that ranks six and 252,710 new cases of female breast cancer.