19th January 2021 – The global Dermatology Devices Market size is likely to reach USD 25.7 billion by 2025, registering at a 13.5% CAGR during the forecast period. Rising number of esthetic procedures and escalating prevalence of skin-related disorders are major factors contributing toward the growth of the market. There has been a rise in incidences of poor skin conditions which lead to increasing number of the skin treatments performed where dermatology devices are needed. According to the International Society of Aesthetic Plastic Surgery, around 20,236 thousand aesthetic procedures were performed globally. Thus, this large number of plastic and aesthetic surgeries performed worldwide is also expected to augment the dermatology devices market. Moreover, the increasing aesthetic concern among the population has led to the increased demand for the dermatology procedures ultimately leading to the dermatology devices market growth. In addition, the hair related problems are also expected to boost the growth of the market.
Growing prevalence of skin cancer is another major factor
contributing toward market growth. For instance, according to American Cancer
Society, about 10,130 people die due to melanoma each year in the U.S. Thus,
there is rising demand for dermatology products for the diagnosis of the skin
cancer which can help the prevention of cancer at an early stage. For instance,
dermatoscopes are used for the detection of skin cancer by the evaluation of
pigmented lesions. Moreover, the growing technological advancements in the
dermatology devices has led to the increased demand for these products.
Furthermore, the increased incidence of the obese population has further led to
increased demand for the liposuction procedures, where dermatology products are
used, ultimately boost the market growth.
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Dermatology Devices Market Report with
Based on the products, the dermatology devices market is
classified into treatment and diagnostic devices. The dermatology treatment
segment is estimated to dominate the market due to increasing population
adopting newer dermatological or aesthetic procedures for the treatment of skin
disorders and enhancement of the skin. Also, the acne-related problems are
growing, which is attributed to increased demand for these products for acne
treatment. This increase in the demand for the acne removal procedures has
attributed to the growth of the market. The diagnostic segment is expected to
grow at a significant rate over the forecast period. This is due to the
increased incidence of the skin disorders and skin cancer globally, which has
created awareness among the people for early stage diagnosis of cancer.
There
are different types of diagnostics products including dermatoscopes, imaging
devices, and microscopes available for the diseases diagnosis. Among them, the
imaging segment accounted for the largest revenue share in 2015 due to the
increasing prevalence of skin cancer and other skin disorders. The imaging
devices are widely used for the early diagnosis of the skin cancer. Based on
the treatment market is classified into light therapy devices, lasers,
electrosurgical equipment, liposuction devices, microdermabrasion devices, and
cryotherapy devices. Amongst them, light therapy accounted for the largest
market share in 2015 owing to its large usage in the acne treatment.
Liposuction devices are expected to showcase
significant growth rate due to increase in the number of obese people globally
and rising concern about fat removal and body contouring amongst people with
obesity. Moreover, the weight management can be done by liposuction products
helping in the prevention the other chronic conditions such as heart diseases
and diabetes.
Skin cancer segment accounted for the largest share of the
overall market in 2015 due to the increasing incidence of skin cancer
worldwide. There is high demand for advanced diagnostics products for early
detection of skin cancer. Amongst the dermatology treatment segment, the
vascular lesions dominated the segment in 2015. This high share is due to the
large application of the lasers and light therapy devices for the treatment of
the vascular lesions. Acne, tattoo, and psoriasis removal are expected to
showcase a lucrative growth rate during the forecast period. This is due to the
increased visibility of the scars due to acne and their removal becomes
essential for aesthetic appeal. Moreover, the tattoo can cause various adverse
effects in the later phase of the life, hence tattoo removal is in demand,
boosting the segment growth.
The end use segment is categorized into clinics, hospitals, and
other healthcare facilities. The hospital segment held the largest share and is
estimated to dominate the market during the study period. This is because of a
large number of the dermatology and aesthetic procedures performed in the
hospitals for various treatments such as skin disorders and fat removal. The
other segment includes diagnostic centers and e-commerce. This segment is
projected to show a significant growth during the forecast period due to
growing prevalence of the skin cancer globally. Thus, there is increased demand
for the diagnostics products for the early diagnosis of skin cancer.
North America dominated the market in 2015 due to the highly
developed healthcare infrastructure and high disposable income in this region.
Moreover, the higher prevalence of the skin cancer and obesity in the U.S. also
has led to the growth of the market. The Asia Pacific is expected to showcase
the fastest growth during the forecast period. This high growth is due to the
growing popularity of medical tourism owing to the availability of less
expensive medical treatments in the Asia Pacific region. Some of the key players comprise Solta Medical, Inc.; Alma
Lasers, Ltd.; Valeant Pharmaceuticals International Inc.; Cynosure, Inc.;
Cutera, Inc.; Syneron Medical Ltd.; Avita Medical Ltd.; and GE Healthcare.
These companies are involved in new product development, mergers &
acquisitions, collaborations, and geographical expansions to gain maximum share
in the sector. For instance, in 2013, cynosure, Inc., acquired Palomar medical
technologies, that is expected to strengthen their laser-based treatment
product portfolio.
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