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Dermatology Devices Market to Witness Steady Growth Based on Rising Number of Esthetic Procedures And Escalating Prevalence of Skin-Related Disorders Till 2025 | Million Insights

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Dermatology Devices Market to Witness Steady Growth Based on Rising Number of Esthetic Procedures And Escalating Prevalence of Skin-Related Disorders Till 2025 | Million Insights

September 06
05:08 2019
Dermatology Devices Market to Witness Steady Growth Based on Rising Number of Esthetic Procedures And Escalating Prevalence of Skin-Related Disorders Till 2025 | Million Insights

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According to new report available with Million Insights, the global dermatology devices industry is predicted to grow at a CAGR of 13.5% in the forecast period, providing numerous opportunities for market players to invest in research and development of the market.

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 increasing 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.

Full Research Report On Global Dermatology Devices Market Analysis available at: https://www.millioninsights.com/industry-reports/dermatology-devices-market

Product Insights

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 an awareness among the people for early stage diagnosis of cancer.

Type Insights

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.

Application Insights

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.

End Use Insights

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.

Regional Insight

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.

Competitive Insights

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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Market Segments:

Dermatology Devices Product Outlook (Revenue, USD Million, 2014 – 2025)
    • Diagnostic
    • Treatment

Dermatology Diagnostic Devices Type Outlook (Revenue, USD Million, 2014 – 2025)
    • Dermatoscopes
    • Microscopes
    • Other Imaging Devices
    • Biopsy Devices

Dermatology Diagnostic Devices Application Outlook (Revenue, USD Million, 2014 – 2025)
    • Skin Cancer Diagnosis
    • Others

Dermatology Treatment Devices Type Outlook (Revenue, USD Million, 2014 – 2025)
    • Light Therapy Devices
    • Lasers
    • Electrosurgical Equipment
    • Liposuction Devices
    • Microdermabrasion Devices
    • Cryotherapy Devices

Dermatology Treatment Devices Application Outlook (Revenue, USD Million, 2014 – 2025)
    • Hair Removal
    • Skin Rejuvenation
    • Acne, Psoriasis, and Tattoo Removal
    • Wrinkle Removal and Skin Resurfacing
    • Body Contouring and Fat Removal
    • Cellulite Reduction
    • Vascular and Pigmented Lesion Removal
    • Others

Dermatology Devices End-use Outlook (Revenue, USD Million, 2014 – 2025)
    • Hospitals
    • Clinics
    • Others

Dermatology Devices Regional Outlook (Revenue, USD Million, 2014 – 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • Japan
        • China
        • India
    • Latin America
        • Brazil
        • Mexico
    • MEA
        • South Africa

Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/medical-devices  

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