Yahoo Finance Dermatology Devices Market is expected to grow from USD 13 billion in 2022 to USD 31.0 billion by 2030.
Dermatology Devices Market Size By Product (Treatment Devices and Diagnostic Devices), By Application (Vascular & Pigmented Lesion Removal, Hair Removal, Cellulite Reduction, Skin Rejuvenation, Body Contouring & Fat Removal, Acne & Tattoo Removal, Wrinkle Removal & Skin Resurfacing, and Others), By End-User (Clinics, Hospitals, and Others), Regions, Segmentation, and forecast till 2030.
Pune India, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the dermatology devices market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the dermatology devices market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, application, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global dermatology devices market are Alma Lasers GmbH, Syneron Medical Ltd., Cynosure, Inc., Solta Medical, Inc., Cutera, Inc., Aesthetic Group, Image Derm, Inc., Canfield Scientific, Inc., 3Gen, Bausch Health Companies Inc, Ambicare Health, Genesis Biosystems, Inc., Lumenis, Ltd., Heine Optotechnik GmbH & Co. Kg, Bruker Corporation, Carl Zeiss, Photomedex, Inc., and Michelson Diagnostics, Ltd. among other. To achieve a substantial market share in the worldwide dermatology devices market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Devices that can be used during surgery, for treating skin diseases, or for diagnosing them are used in dermatology. Dermatologists and surgeons can identify and treat skin conditions with the aid of dermatology equipment. Hospitals, dermatology clinics, medical offices, and academic research facilities are just a few of the places where these devices are used in the delivery of healthcare. The rising prevalence of skin cancer and other skin disorders is partly to blame for the increasing product demand. Additionally, due to people's increased appreciation for cosmetic benefits and technological advancements in dermatology equipment, the use of these devices is fast increasing. A rise in disposable income is one of the major factors promoting market expansion. Melanoma and other types of skin cancer are becoming more prevalent. According to the Skin Cancer Foundation, melanoma claims 10,130 American lives each year. Additionally, 91,270 new cases of melanoma will be found in the United States in 2018, according to data from the American Cancer Society. One in three Americans visit dermatologists each year, and one in four have a skin condition, according to the American Academy of Dermatology (AAD). As a result, there is a growing need for fast skin condition detection. The COVID-19 epidemic had a negative impact on the market. The market initially suffered as a result of the shutdown and the interruption to the supply chain.
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Scope of Dermatology Devices Market Report:
Report Metric | Information |
Study Period | 2022-2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Market Share Unit | USD Billion |
Segments Covered | Product, Application, End-User, and Regions. |
Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
Major Players | Alma Lasers GmbH, Syneron Medical Ltd., Cynosure, Inc., Solta Medical, Inc., Cutera, Inc., Aesthetic Group, Image Derm, Inc., Canfield Scientific, Inc., 3Gen, Bausch Health Companies Inc, Ambicare Health, Genesis Biosystems, Inc., Lumenis, Ltd., Heine Optotechnik GmbH & Co. Kg, Bruker Corporation, Carl Zeiss, Photomedex, Inc., and Michelson Diagnostics, Ltd. among other |
Segmentation Analysis
Treatment devices are expected to be the fastest-growing segment in 2022.
The product segment is treatment devices and diagnostic devices. The treatment devices segment is expected to witness the highest growth rate during the forecast period. This is primarily due to the wide range of applications for dermatological treatments. The development of cutting-edge technology in the laser device category is another factor contributing to the market growth. Diagnostic devices have a small market share since fewer individuals are aware of several unique pieces of equipment. However, it is anticipated that the increasing prevalence of skin cancer will fuel category expansion in the future. Laser products, which accounted for the bulk of treatment devices in 2022, will see the fastest CAGR throughout the forecast period due to their extensive use.
Hair removal is expected to be the fastest-growing segment in 2022.
The application segment is vascular & pigmented lesion removal, hair removal, cellulite reduction, skin rejuvenation, body contouring & fat removal, acne & tattoo removal, wrinkle removal & skin resurfacing, and others. The hair removal segment is expected to witness the highest growth rate during the forecast period. The hair removal treatment market is expected to grow strongly throughout the forecast period, based on application. The segment for hair removal treatments includes body sculpting, fat removal, wrinkle reduction, tattoo removal, and skin rejuvenation. Laser hair removal equipment has been proven to be safe for all skin tones and hair colours.
Hospitals are expected to be the fastest-growing segment in 2022.
The end-user segment is clinics, hospitals, and others. The hospitals segment is expected to witness the highest growth rate during the forecast period. Because hospitals frequently utilise sophisticated dermatology technology. Because there are many different treatment options available, many people visit these facilities to diagnose and treat skin ailments, which in turn helps the segment's growth. Dermatology offices are clinics that specialize in the diagnosis and treatment of skin conditions. In dermatology clinics, board-certified plastic surgeons perform both surgical and nonsurgical procedures.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the dermatology devices market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North America region witnessed a major share. This trend is anticipated to persist due to the increasing prevalence of skin cancer and other skin disorders including eczema and rosacea, as well as the approval of dermatological equipment and growing public awareness of aesthetic procedures. According to the American Cancer Society, the country would experience about 99,780 new instances of cutaneous melanoma in 2022. The majority of those cases—42,600 cases in women and 57,180 cases in men—will be reported. As a result, an important element in the increased demand for dermatological devices, which is driving the market's growth, is the rising incidence of skin cancer and other skin disorders.
Country Analysis
Germany
Germany's dermatology devices market size was valued at USD 0.93 billion in 2022 and is expected to reach USD 2.23 billion by 2030, at a CAGR of 11.6% from 2023 to 2030.
One of the key factors driving the market for dermatological devices is the region's increasing prevalence of skin problems. The market is growing as a result of the preferred inventions of professionals in cosmetic enhancement, increased public awareness of aesthetic appeal, and technological developments in dermatology equipment.
China
China’s dermatology devices market size was valued at USD 0.96 billion in 2022 and is expected to reach USD 2.34 billion by 2030, at a CAGR of 11.8% from 2023 to 2030. For cosmetic procedures, new technologies are being developed and launched to the market, including laser, dynamic pulse control, radiofrequency, and infrared technologies. For instance, a relationship between TMall Global, a division of the Alibaba Group, and the UK-based startup TensCare allowed it to join the Chinese market in October 2020. Among the aesthetic equipment offered by the cosmetics business, TensCare are lasers for cleaning nails. The market is expected to expand quickly throughout the forecast period due to China's rising demand for cosmetic procedures.
India
India's dermatology devices market size was valued at USD 0.74 billion in 2022 and is expected to reach USD 1.79 billion by 2030, at a CAGR of 11.7% from 2023 to 2030. Two significant aspects that contribute to the growth of the regional market are the rising incidence of skin cancer and other skin disorders including eczema and rosacea, as well as the expanding use of cosmetic procedures.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of dermatology devices market is mainly driven by the increased prevalence of skin diseases.
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