The dermatology industry becomes more precise in diagnostics and treatment
Implications - As the dermatology industry continues to grow, diagnosis, prognosis and treatments for various skin conditions will become more effective. Dermatology methods will be able to detect problems earlier, even without direct contact with a medical practitioner, and remedying these ailments will become quicker, smoother and less invasive, signalling an industry that's become more efficient, largely in part due to alternative methods and advancements in tech.
Trend Themes
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Advancements in Dermatology Technology — As technology continues to advance in the dermatology industry, such as the Molescope and the Skin Biopsy Devices, there is a growing opportunity for companies to innovate new medical devices in skin analysis, diagnosis, and treatment.
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Medical Services On-demand — First Derm serves as an example of a medical service app that offers on-demand access to certified medical professionals and dermatology experts, opening up a new market opportunity in the on-demand medical service industry.
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Wearable Medical Devices — With the creation of Shadow WiFi and its focus on sun protection, companies in the wearable technology industry have an opportunity to create connected devices that promote healthy living in ways such as skin protection against harmful UV rays.
Industry Implications
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Healthtech — The dermatology industry's increasing reliance on technological advancements creates new market potential for companies looking to integrate and improve medical technology devices, mobile apps, and online platforms that cater to patients with skin complications.
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Telemedicine — Companies in the field of telemedicine industry have an opportunity to create accessible healthcare networks that allow users to receive medical advice and diagnosis from certified medical professionals through apps and online platforms, such as First Derm.
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Wearable Technology — The creation of the Shadow WiFi allows wearable technology companies with an opportunity to create a new market of sun-protective wearable technology devices that cater to customers' needs of skin protection in sunny weather.
