Number of pages: 100 | Report Format: PDF | Published date: July 25, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global dermatology devices market was pegged at US$ 54.08 billion in 2021 and is expected to witness a CAGR of 4.4% during the forecast period.
Dermatology devices support surgeons and dermatologists in the treatment and analysis of skin disorders. These devices improve the precision level of dermatologists while diagnosing distinct types of skin disorders. These devices are used by medical care providers such as dermatology clinics, academic research institutes, physician’s officers, and hospitals. Dermatology devices can be used for skin biopsy, cryosurgery, topical chemotherapy, photodynamic therapy, Mohs micrographic surgery, and electrodesiccation and curettage. There are various skin disorders, which include psoriasis, eczema, acne, rosacea, ichthyosis, vitiligo, hives, seborrheic dermatitis, and other skin disorders, which can vary in symptoms and severity. The increasing prevalence of skin cancer and other skin diseases is contributing largely to the high-ranking product demand. Also, increasing awareness among people about the technological advancements and aesthetic appeal of dermatology devices are developing the acceptance of these devices significantly. A rise in disposable income is also considered one of the important factors running the growth of the market.
In the past few years, the market has observed several variations in consumer buying patterns and, behavior. Nowadays, men are also paying more attention to their needs before purchasing the product. As people have become employed more than ever, this has become noticeable due to a significant shift in the lifestyle, which expanded the consumption of dermatological devices. Other than this, they have become more active on social media than ever and everyone wants to look good on the platforms like Instagram, Snapchat, Facebook, and other social media platform. Thus, the device used in the application for hair removal, acne, skin rejuvenation, skin resurfacing, psoriasis and tattoo removal, wrinkle removal, body contouring and fat removal, vascular and pigmented lesion removal, warts, skin tags, and weight management is also expanded, eventually driving the market growth over the forecast period. For instance, the Cadogan Clinic reported a huge expansion in facial surgery, which saw a ten-fold increase, a 188% rise in fat transfer/face-lift procedures, and a 78% increase in rhinoplasties in the year 2020 than the last year. Thus, the demand for dermatological devices for cosmetic procedures in order to enhance appearance has been greater than ever in the impending years.
The global dermatology devices market has been analyzed from four perspectives: by type, application, end user, and region.
Dermatology Devices Market by Type
Based on type, dermatology devices market is segmented into diagnostic devices and treatment devices. Diagnostics devices are sub segmented into imaging device, dermatoscope, and microscope whereas treatment devices is also sub segmented into electrosurgical, cryotherapy, and laser devices. Treatment devises dominated the segment during the forecast period owing to the increased emphasis on early recognition and the rise in the prevalence of the disease. In addition, the growth in the number of surgical procedures applying these dermatology devices would boost the market growth in the upcoming years. The highest share of this segment can be attributed to technological advancement and the growing incidence of skin diseases. In 2021 Laser hair removal devices generated the highest revenue share, remaining to the huge benefits associated with these devices.This segment has it’s applications for numerous procedures like hair removal, acne, skin rejuvenation, psoriasis & tattoo removal, body contouring & fat removal, wrinkle removal & skin resurfacing, vascular and pigmented lesion removal, and others. For instance, according to the International Society of Aesthetic Plastic Surgery, treatments like non-invasive fat reduction witnessed a 21.1% increase, laser hair removal witnessed a 76.1% increase, and photo rejuvenation had a 32.3% increase in 2020 as compared to 2019.
Dermatology Devices Market by Application
Based on application, dermatology devices market is segmented into skin cancer, acne, psoriasis, skin rejuvenation, and warts. The skin cancer segment is projected to gain maximum revenue during the forecast period, due to a surge in occurrences of skin cancer, which needs early diagnosis. As well as, increasing research on skin cancer diagnosis for prevention with skin related conditions would improve the segment to generate high ranking revenue shares in the upcoming years. Flow in the prevalence of disorders related to skin, which needs dermatology devices for the management of the condition is projected to boost the market growth to produce higher revenue. The surge of prevalence conditions, such as psoriasis, acne, and other skin disorders, is projected to help the market produce higher profits during the forecast period. The rise in healthcare spending and treatment of skin conditions would also help the market to gain traction.
Dermatology Devices Market by End User
Based on type, dermatology devices market is segmented into hospitals, clinics, and other end users. The clinic’s segment is expected to generate the most revenue during the forecast period, owing to an increase in the number of outpatients who prefer clinics. Furthermore, the presence of skilled professionals for diagnostics and increased investment by specialty clinics in adopting advanced product types would aid the segment in gaining a significant market share in the coming years.
Dermatology Devices by Region
Based on the region, the global dermatology devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America reported the largest revenue share during the forecast period. The growing prevalence of skin cancer and other skin diseases, such as eczema & rosacea, and expanding acceptance of cosmetic procedures are some of the major factors influencing the growth of the regional market. According to the Centre for Disease Control, Acne vulgaris impacts 80% of the U.S. population at some time during their lives and 20% of them suffer from severe acne, which can result in mental scarring.
Some of the prominent players in the global dermatology devices market include
The development of healthcare expenditure, rising disposable income and compounding geriatric population income, are key factors driving the dermatology device market growth.
Some of the prominent players in the global dermatology device market are Alma Lasers GmbH, Cynosure, Inc., Solta Medical, Inc., Cutera, Inc., Bruker Corporation among others.
The skin cancer segment is projected to gain maximum revenue and dominated the segment during the forecast period.
North America reported the largest revenue share during the forecast period.
The market is expected to grow at CAGR of 4.4% during the forecast period.
*Insights on financial permanence is subject to availability of information in public domain