Dermatology Devices Market Overview
The Dermatology Devices Market size is forecast to reach $27.6 billion by 2027 and is expected to grow at a CAGR of 10.3% during the forecast period 2022-2027. Dermatological Devices are medical devices that are used to diagnose and treat a variety of dermatological problems. Dermatology devices consist of a perse range of products such as Electrosurgical Devices, Cryotherapy Devices, Liposuction Devices, Microdermabrasion Devices as well as Dermascopes, whose usage varies according to the appropriate dermatological procedures. The devices are used mainly by Dermatologists, to treat a wide variety of complications in the skin, hair, or even nails.
Demand for dermatological devices is primarily being driven due to the growing number of cosmetic procedures and treatments such as derm abrasions and laser hair removal. Furthermore, skin cancer is becoming more common around the world, and in some countries, skin cancer cases have recently surpassed the combined cases of breast, prostate, lung, and colon cancer. The high prevalence of skin diseases and skin cancer is further driving the Dermatology Devices Market.
Dermatology Devices Market Report Coverage
The report: “Dermatology Devices Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Dermatology Devices Market.
- Geographically, The North American Dermatology Devices market accounted for the highest revenue share in 2021. This is owing to the presence of several players in the regions as well as favorable cooperation from regulatory bodies.
- R&D funding has flooded in for a variety of dermatology devices, especially lasers. New laser systems and pulsed laser beam lights have made it possible to treat vascular and pigmented lesions, tattoos, and scars in an effective and safe manner.
- Dermatology Devices Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Dermatology Devices Market report.
Dermatology Devices Market Share, By Region (%) in 2021
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Dermatology Devices Market Segment Analysis – By Type
The Dermatology Devices Market based on Type can be segmented into Laser Devices, Light-based Devices, Electrosurgical Devices, Cryotherapy Devices, Liposuction Devices, Microdermabrasion Devices, Dermatology Microscopes, Dermatoscopes, and Imaging Systems. The Laser Devices segment has the largest share in the Dermatology Devices Market in 2021 and is expected to grow at a CAGR of 9.8% during the forecast period 2022-2027, owing to the availability of a wide variety of Laser-based Dermatology Devices. Moreover, Laser technology for dermatology is advancing on a regular basis and has become a routine procedure in the cosmetic field and dermatological conditions such as wrinkles, melasma, and lentigo.
However, Light-based Devices are estimated to be the fastest-growing segment and is expected to witness the highest CAGR during the forecast period 2022-2027. This is owing to the increased demand for light-based Dermatology devices for home-based care. Several Light-based devices with intense pulsed light and light-emitting diodes have garnered significant demand due to the overall low costs and convenience of home-based dermatological therapies.
Dermatology Devices Market Segment Analysis – By Application
The Dermatology Devices Market based on Application can be segmented into Acne Therapy, Skin Cancer, Dermatitis, Infections, Hair Loss and Damage, Nail Problems, and Others. Skin Cancer had the largest share in the Dermatology Devices Market in 2021 and is expected to grow at a CAGR of 9.2%. This is owing to the rising instance of skin cancer worldwide. As per the World Health Organization (WHO), there are over 3 million active cases of skin cancer worldwide. Another study by the American Cancer Society suggests that over 200,000 cases of skin cancer will be detected in 2022. Furthermore, innovative devices are being developed for the treatment of non-melanoma skin cancer (NMSC) and keloids.
However, Dermatitis is projected to be the fastest-growing segment and is forecasted to witness the highest CAGR during the forecast period 2022-2027. The onset of Covid 19 led to an increase in the worldwide cases of dermatitis. A study by the American Academy of Dermatology reveals that almost 97% of healthcare workers faced skin trauma caused by continuous COVID-19 infection-prevention practices in hospitals. This has driven the demand for procedures such as Light-based therapies and has subsequently pushed the Dermatology Devices Market forward.
Dermatology Devices Market Segment Analysis – By Geography
The Global Demand for Dermatology Devices Market based on Geography can be segmented into North America, South America, Europe, Asia-Pacific and Rest of the World. The North American region dominated the Dermatology Devices market in 2021, with a market share of 34%. This is owing to the rising instances of Skin Cancer in the region. A study by the American Academy of Dermatology (AAD) revealed that almost 10,000 people are diagnosed with skin cancer every day in the region, and it is also the most common cancer in the United States. Furthermore, the market is being propelled by the region's overall increased demand for dermatological procedures, which has spurred manufacturers to develop new products.
However, Asia Pacific is expected to be the fastest-growing segment and is projected to grow at the highest CAGR during the forecast period of 2022-2027. This is owing to both the significant improvement in healthcare facilities and the improving standard of living throughout time. Furthermore, the increased frequency of skin diseases in the region, particularly inflammatory ailments, is further aiding the market’s growth.
Dermatology Devices Market Drivers
Rising burden of skin diseases globally is driving the Dermatology Devices Market
As of 2020, skin diseases were ranked as the fourth most common cause of human illness, resulting in an enormous non-fatal burden. The Journal of the European Academy of Dermatology and Venerology claims that the prevalence rate is actually higher, and growing on a regular basis. Skin disorders also cause a large amount of non-fatal impairment around the world, particularly in resource-poor areas. Furthermore, according to an AAD study, one out of every four persons suffers from skin illness, with nearly 30% of those who do seek treatment from dermatologists. The need for dermatological devices such as lasers, imaging systems, and light-based devices has increased as the incidence of skin diseases has increased, propelling the Dermatology Devices Market ahead.
Growing percentage of the geriatric population will push the Dermatology Devices Market forward
As per a study by the United Nations, there were over 700 million people aged 65 and above in 2020. The study also states that the figure will surpass 1.5 billion within 2050. According to a report by the World Health Organization (WHO), the geriatric population would account for about 20% of the global population by 2030. Geriatric dermatology is receiving more attention as a result of the growing tendency of an aging population in various nations throughout the world. Elderly people are predisposed to specific dermatological illnesses such as skin infections and malignant skin growths, which require rapid treatment, due to numerous senile changes in the skin. The high prevalence among the geriatric population is helping the Dermatology Devices Market grow.
Dermatology Devices Market Challenges
Side Effects arising from Dermatological treatment may hamper the growth of the Dermatology Devices Market
Dermatology necessitates the use of a variety of medications and devices. Lasers and light-based technologies for example are essential in an aesthetic dermatology practice. The rising popularity of these devices, however has been accompanied by a rapid rise in the number of complications. These can occur as a result of user error or as a result of issues in patients, such as hormone imbalance or poor sunscreen application. Furthermore, some novel approaches, such as Red-Light Therapy, haven't been well researched sufficiently to identify potential side effects and health risks. Short-term side effects such as post-operative discomfort, redness, and edema have also been constant throughout the years. According to the American Academy of Dermatology Association, acne is the most common skin condition in the United States, affecting up to 50 million Americans annually. These complications may be off-putting to the general public, and thereby hamper the market's progress.
Dermatology Devices Industry Outlook
Product Launch and Acquisitions were the key strategies adopted by players in the Dermatology Devices Market. In 2022, the Dermatology Devices Market share is consolidated by the top ten players present in the market. Dermatology Devices top 10 companies include: -
- Alma Lasers GmbH
- Cynosure, Inc.
- Cutera, Inc.
- Carl Zeiss
- Valeant Pharmaceuticals
- Canfield Scientific, Inc.
- Phillips Healthcare
- Aesthetic Technologies
- LASEROPTEK Co. Ltd.
- Genesis Biosystems
- In February 2022, Casio announced the launch of its FDA-approved dermoscopy as well as a camera device that will enable dermatologists to capture high-quality photos of patients’ skin for closer observation.
- In August 2021, STRATA Skin Sciences Inc. announced the acquisition of Ra Medical Systems for $3.7 million. Through the transaction, STRATA will receive a laser that will enhance its existing laser portfolio, especially a 308-nanometer ultraviolet B excimer Pharos, which is used to treat chronic skin illnesses like psoriasis, vitiligo, and atopic dermatitis.
- In June 2019, TOOsonix announced the launch of its new medical ultrasonic device for color-independent tattoo removal, solar lentigines, spider veins, angiomas, telangiectasia, and other aesthetic conditions.