Dermatologists
Description
Companies in this industry primarily engage in the medical practice of treating conditions of the skin, hair, and nails. No major companies dominate the industry. Dermatologists may work in group practices or as solo practitioners; some work for hospitals, medical schools, or outpatient facilities.
Increased demand for dermatologists is being driven by rising occurrences of skin conditions falling at the intersection of inflammatory and autoimmune skin disorders such as alopecia, atopic dermatitis, and psoriasis. Meanwhile, aging populations in developed nations and expanding middle-class populations in developing economies are driving an increase in spending on health care, including dermatology services.
In 2023, the US has about 12,000 dermatologists with an annual wage of about $340,000.
COMPETITIVE LANDSCAPE
Demand for dermatologists is driven by demographics and population growth. The profitability of dermatology practices depends on consumer spending trends and insurance reimbursement decisions. Large practices may be able to leverage the costs of administrative staff and equipment. Small practices compete by providing personalized patient experiences and specialized services.
Dermatologists may compete with primary care physicians who can perform common skin-related procedures such as mole checks. Dermatology practices that provide cosmetic products and services such as Botox, micro-dermabrasion, and high-end skin creams may also compete with beauty spas and plastic surgeons.
PRODUCTS, OPERATIONS & TECHNOLOGY
Dermatologists diagnose disorders of the skin, hair, and nails and oversee and perform surgeries and cosmetic treatments. They also aid in the formulation of pharmaceutical and cosmetic products. Practices typically offer general dermatology treatment, cosmetic services, and a micrographic surgery called Mohs, which is widely accepted as the most effective technique for removing common skin cancers.
Most dermatologists' office visits are self-referrals. Referrals also come from hospitals, clinics, and spas. To share the patient workload and maintain efficient operations, dermatology practices employ physician assistants, aestheticians, nurses, and office managers.
Dermatologists practice a variety of subspecialties. Cosmetic dermatology covers a broad range of nonsurgical treatments such as dermabrasion, chemical peels, phototherapy, Botox injections, and collagen injections. Dermatological surgery includes tissue micrographing, laser surgery, and cryosurgery to remove skin cancer and reduce the appearance of scars; and liposuction and facelifts to restore a youthful look. Venereology is the diagnosis and treatment of symptoms of sexually transmitted diseases. Phlebology covers the treatment of superficial veins, such as varicose veins.
Since systemic illnesses may cause skin disorders, dermatologists are also educated in a variety of internal medicines including rheumatology (the study of joints), immunology (immune system), neurology (nervous system), endocrinology (glands and hormones), and genetics. Dermatology students are required to undergo eight years of undergraduate and medical school training, a one-year internship in medicine, three years in a formal residency program, and, ultimately, certification by the American Board of Dermatology or the American Osteopathic College of Dermatology. Once certified, dermatologists may enter a fellowship for advanced training in a subspecialty, such as pediatric dermatology.
Increased demand for dermatologists is being driven by rising occurrences of skin conditions falling at the intersection of inflammatory and autoimmune skin disorders such as alopecia, atopic dermatitis, and psoriasis. Meanwhile, aging populations in developed nations and expanding middle-class populations in developing economies are driving an increase in spending on health care, including dermatology services.
In 2023, the US has about 12,000 dermatologists with an annual wage of about $340,000.
COMPETITIVE LANDSCAPE
Demand for dermatologists is driven by demographics and population growth. The profitability of dermatology practices depends on consumer spending trends and insurance reimbursement decisions. Large practices may be able to leverage the costs of administrative staff and equipment. Small practices compete by providing personalized patient experiences and specialized services.
Dermatologists may compete with primary care physicians who can perform common skin-related procedures such as mole checks. Dermatology practices that provide cosmetic products and services such as Botox, micro-dermabrasion, and high-end skin creams may also compete with beauty spas and plastic surgeons.
PRODUCTS, OPERATIONS & TECHNOLOGY
Dermatologists diagnose disorders of the skin, hair, and nails and oversee and perform surgeries and cosmetic treatments. They also aid in the formulation of pharmaceutical and cosmetic products. Practices typically offer general dermatology treatment, cosmetic services, and a micrographic surgery called Mohs, which is widely accepted as the most effective technique for removing common skin cancers.
Most dermatologists' office visits are self-referrals. Referrals also come from hospitals, clinics, and spas. To share the patient workload and maintain efficient operations, dermatology practices employ physician assistants, aestheticians, nurses, and office managers.
Dermatologists practice a variety of subspecialties. Cosmetic dermatology covers a broad range of nonsurgical treatments such as dermabrasion, chemical peels, phototherapy, Botox injections, and collagen injections. Dermatological surgery includes tissue micrographing, laser surgery, and cryosurgery to remove skin cancer and reduce the appearance of scars; and liposuction and facelifts to restore a youthful look. Venereology is the diagnosis and treatment of symptoms of sexually transmitted diseases. Phlebology covers the treatment of superficial veins, such as varicose veins.
Since systemic illnesses may cause skin disorders, dermatologists are also educated in a variety of internal medicines including rheumatology (the study of joints), immunology (immune system), neurology (nervous system), endocrinology (glands and hormones), and genetics. Dermatology students are required to undergo eight years of undergraduate and medical school training, a one-year internship in medicine, three years in a formal residency program, and, ultimately, certification by the American Board of Dermatology or the American Osteopathic College of Dermatology. Once certified, dermatologists may enter a fellowship for advanced training in a subspecialty, such as pediatric dermatology.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
Search Inside Report
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
