Dermatologists Industry Profile

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 ...