Skin cancer is a condition where uncontrolled growth of cells or tissues occur in the epidermis, the outermost layer of the skin and is mainly caused by damaged DNA that cause mutations. These mutated cells multiply rapidly to form malignant tumors, and also spread to other body parts in due course of time. It is mainly caused by the UV rays from long exposure to the sun or tanning machines that use UV rays. If detected at an early stage, this condition is totally curable with minimal or no scarring.
While the increased incidences of skin cancer, favourable government policies regarding healthcare, and development of new technologies in this field may lead to the growth of the market, the high cost associated with the therapy, the socio-economic factors such as the standard of living, and lack of awareness might affect the growth adversely. With the data collected from 2014-2018 and 2019 as the estimate year, the future predictions for the next five years indicate a growth of the global skin cancer diagnostics and therapeutics market.
The report extensively covers the global market and the key players, analyzing the present status and the growth opportunities. It strategically profiles the big names and key players in the market and the development plans and strategies that are being used presently. It global skin cancer market, the big names in the pharmaceutical industry as well as those companies that provide key technology and software support in the treatment of skin cancer make a huge impact. The development plans and measures taken by these companies, along with the new developments are considered while analysing the market.
The three major types of skin cancer based on the type of tissue they affect are basal cell carcinoma, squamous cell carcinoma, and melanoma. Basal cells and squamous cells are types of cells found in the epidermis and long exposure to sunlight and UV rays are a major cause of these types of skin cancer. Basal cell carcinoma, a type of cancer which is very common and can be cured unless left untreated. Melanoma is another form of skin cancer where melanocytes, the skin cells that produce the skin pigment called melanin, are affected. Sunburns and excessive tanning could lead to this. Another market segmentation can be done on the basis of the application or the user end of the market. The divisions could be – hospitals and medical institutions where cancer is treated, clinics – a smaller scale of application and mainly only for diagnostics, and cancer research centers where the research and development are aimed at discovering new cures or treatment techniques.
In recent times, the cases of skin cancer have been on the rise and in 2017, North America was the region with the highest market in terms of the revenue generated. According to a report, this mainly resulted from the prevalence and the high-risk factors, the high reimbursement environment, and high adoption rate of novel technological advancements made in the field of oncology. The report predicts the market growth in the Asia-Pacific region to be very high in the forecast period. The main factors regarding this would be the increased spending on healthcare and the government initiatives aimed at spreading awareness among people in these developing countries. Alongside, the report also covers the major developments happening in Europe, the United States, and China.
MedX Health Corp, a leading medical device and software company that specializes in non-invasive, drug-free, and cost-effective treatment of skin cancer, with its headquarters in Ontario, Canada won the award for the most favorite company at the ii6 Summit Series held at Toronto in August 2019. Among its products, it also has a telemedicine platform named DermSecure
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