Global Statistics Representing Dermatology Devices Market Scenario
The global dermatology devices market is projected to grow at a CAGR of 8.3% during the forecast period 2019–2026.
Dermatology devices are used to monitor and diagnose diseases related to skin, hair, and nails, such as rashes, side-effects from hair removal, lesions, sunburn, psoriasis, nail infection, acne, and eczema. Most surgical procedures often leave scars and marks on the body. Dermatology devices are replacing traditional surgical methods to evade unwanted scars from surgery or treatment. Hospitals and dermatology clinics install dermatology devices to assist physicians in the treatment of skin related diseases.
Increasing skin problems such as scars from acne, the emergence of technologically-advanced medical devices, prevalence of skin cancer, rising healthcare awareness, and increasing awareness regarding non-invasive aesthetic procedures are some the key factors driving the growth of the dermatology devices market.
The introduction of advanced, user-friendly, and compact dermatology devices is surging the demand in dermatology clinics and hospitals. Dermatology device technologies include smart algorithms to diagnose skin cancer, 3D printers for printing out synthetic skin to fight tissue shortages, and other technologies such as robotics and health sensors.
The growing prevalence of skin disorders such as skin cancer, acne, psoriasis, and eczema due to changing lifestyles and food habits is creating demand for dermatology devices, which help in the diagnosis and monitoring of such skin related disorders. Among all skin related disorders, skin cancer is prevalent. According to an estimation by the WHO, 2 to 3 million non-melanoma skin cancers and 132,000 melanoma skin cancers occur each year globally. According to statistics, in the U.S., one in five Americans will develop skin cancer in their lifetime. Moreover, the incidence rate of skin cancer is rising in most European countries, primarily Southern and Eastern Europe.
The global dermatology devices market can be segmented by type, application, and end user.
On the basis of type, the dermatology devices market can be segmented into diagnostic devices and treatment devices. The diagnostic devices segment can be further sub-segmented into imaging devices, dermatoscopes, and microscopes, and the treatment devices segment can be further sub-segmented into electrosurgical devices, cryotherapy, and lasers.
On the basis of application, the dermatology devices market can be segmented into skin cancer diagnosis, acne, psoriasis, skin rejuvenation, warts, and others. By end user, the dermatology devices market can be segmented into hospitals, private clinics, and specialty dermatology clinics.
Geographically, the global dermatology devices market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America is expected to hold a large share of the dermatology devices market, owing to the prevalence of skin disorders such as psoriasis, melanoma, and skin cancer in te region. The increasing inclination towards cosmetic surgery and plastic surgery among consumers is expected to lead to an upsurge in the demand for dermatology devices in North America. According to the American Society of Plastic Surgeons (ASPS), 17.5 million surgical and minimally-invasive cosmetic procedures were performed in the U.S. in 2017, marking 2% growth over 2016. The region’s highly-organized healthcare infrastructure and high awareness among the people regarding health provide impetus to market growth.
In Europe, Russia and other North European countries have been observing an upward trend in the demand for dermatology devices. Technological advancements, increasing healthcare expenditure, and aging population are driving market growth in the region. The growing awareness regarding aesthetic procedures has made Europe a noteworthy region in the dermatology devices market.
Asia-Pacific is expected to exhibit rapid growth in the dermatology devices market due to the rising standard of living, government initiatives targeting quality medical services, and increasing healthcare expenditure. In addition, the number of skin cancer cases are increasing in Singapore. 1 in every 4 to 5 people in Singapore may develop skin cancer in their lifetimes, and from 2011 to 2015, 48.6% and 51.4% cases were reported in males and females, respectively.
The LAMEA region is anticipated to record the highest growth rate during the forecast period due to the rising concern among the population regarding aesthetics. Dermatoscopes, light therapy, liposuction, and lasers are likely to command the largest market share in the LAMEA region during the forecast period.
Alma Lasers, Ltd. (Israel), Cutera, Inc. (U.S.), Cynosure, Inc. (U.S.), Lumenis, Ltd. (Israel), Valeant Pharmaceuticals International, Inc. (Canada), Avita Medical Ltd (U.K.), Lutronics Corporation (South Korea), Syneron Medical Ltd (U.S.), GE Healthcare Ltd. (U.S.), and Philips Healthcare (Netherlands) are among the noteworthy players in the global dermatology devices market.
In September 2016, Alma Lasers launched its third-generation platform, LipoLife 3G, a comprehensive solution covering all stages of liposuction, skin tightening, and fat grafting for aesthetic and surgical markets.
Dermatology Devices Market Segmentation
By Diagnostic Device
By Treatment Device
By End User
Why Buy This Report?
The dermatology devices market is slated to gain substantial revenue in the coming years, owing to the growing adoption among healthcare institutions to combat skin-related disorders. Since women are the largest consumers of skin-related treatments, they are the largest revenue generators for the dermatology devices market.
The report sheds light on the drivers, opportunities, and recent trends in the market and analyses their impact on market growth in the coming years. Further, it comes with a detailed competition landscape that covers key market participants and their strategies, impact on competition, and market growth. The following sections are specifically covered in the report.