The global dermatology market accounted for $20.0 billion in 2015. The market is expected to grow at a compound annual growth rate (CAGR) of 7.73% and reach $33.7 billion in 2022. If you’re considering to start a business in the field or you already have one, you should turn to a respectable payment processor so to get the best for your business wants and needs.
The Dermatology Industry
The global market for skin disease treatment technologies accounted for $17.1 billion in 2015, and is anticipated to represent a $20.4 billion segment in 2020, growing at a five-year compound annual growth rate (CAGR) of 3.6%.
The US market for skin disease treatment plays a dominant role in the global market. It represented a $7.5 billion segment in 2015 and is projected to account for $8.6 billion in 2020, growing at a five-year CAGR of 2.6%.
Brazil, Russia, India, and China (BRIC) are the fastest growing regions of the global dermatology market, demonstrating a five-year CAGR of 6%. BRIC is expected to total over $4.6 billion by 2020.
As of 2013, there were an estimated 9.600 dermatologists and 7.800 dermatology practices in the US, as IMS Health reports. The demand for dermatologic services is growing driven by an increased access to dermatologists, greater health awareness, and favorable demographic trends.
Dermatology Credit Card Processing
The dermatologist industry has increasingly expanded into cosmetic dermatology. The number of dermatologists offering anti-aging procedures such as dermabrasion, laser treatments, and Botox is growing.
The mentioned treatments are considered a high-growth sector for the industry. They’ve contributed to the industry’s consistently high-profit margins. The industry revenue is anticipated to grow in the upcoming 5 years.
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