$11+ Billion Dermatology Devices Market Size to Grow at
New York, Sept. 30, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Dermatology Devices Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type, Application, End User and Geography”, the global dermatology devices market size is expected to grow from $5.40 Billion in 2021 to $11.23 Billion by 2028; it is estimated to grow at a CAGR of 11.2% from 2022 to 2028.
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Dermatology Devices Market Report Scope, Segmentations, Regional & Country Scope:
|Market Size Value in||US$ 5.40 trillion in 2021|
|Market Size Value by||US$11.23 billion by 2028|
|growth rate||CAGR of 11.2% from 2022 to 2028|
|No. of Pages||240|
|No. of Tables||165|
|No. of Charts & Figures||91|
|Historical data available||yes|
|Segments covered||Product Type, Application, End User|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEAS|
|country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Companies Covered||Alma Lasers (Sisram Medical), Cutera Inc., Candela Corporation, Solta Medical (Bausch Health Companies Inc.), FotoFinder Systems’s, Cynosure, Lumenis, El.En SpA, Leica Microsystem, Aerolase Corp.|
|Key Research Capabilities|| Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country
Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and
Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development
|Dermatology Devices Market Forecast to 2028 – Latest COVID-19 Analysis||https://www.theinsightpartners.com/covid-analysis-sample/TIPHE100001274/|
Browse key market insights spread across 240 pages with 165 list of tables & 91 list of figures from the report, “Dermatology Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Treatment Device and Diagnostic Device), Application ( Skin Care Diagnosis, Skin Rejuvenation, Hair Removal, Body Contouring & Skin Tightening, Psoriasis, and Others), End User (Hospitals, Dermatology Clinics, and Others)” in detail along with the table of contents: https://www.theinsightpartners .com/reports/dermatology-devices-market
Global Dermatology Devices Market: Competitive Landscape and Key Developments
Alma Lasers (Sisram Medical), Cutera Inc., Candela Corporation, Solta Medical (Bausch Health Companies), FotoFinder System’s, Cynosure, Lumenis, El.En SpA, Leica Microsystem, and Aerolase Corp. are the key companies operating in the global dermatology devices market. Leading players focus on expanding and diversifying their market presence and clientele, thereby tapping prevailing business opportunities.
In April 2021, Alma Lasers, a Sisram Medical Company, launched “Alma PrimeXTM”, the ultimate noninvasive platform for body contouring and skin tightening, delivering spectacular results.
In January 2021, Candela Corporation, announced the launch of the “Frax Pro system.” This FDA-cleared, non-ablative fractional device is the first platform featuring dual-depth skin resurfacing, with both Frax 1550 and the novel Frax 1940 applicators.
Dermatology Devices Market: Key Insights
The market growth is attributed to the rising number of aesthetic procedures. However, complications faced after cancer treatment and cosmetic surgery performed by unqualified professionals hindering the market growth.
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North America is the largest contributor to the global dermatology devices market. Advancements in diagnostic imaging and treatment techniques, the rising prevalence of skin disorders, and increasing awareness of aesthetic procedures are the prime factors bolstering the adoption of dermatology devices in North America. The US is a major market for dermatology devices in the region. According to estimates provided by the National Council on Skin Cancer Prevention report, skin cancer is the most common cancer in the US, affecting one in five Americans in their lifetime. ~9,500 people are diagnosed with skin cancer every day, with 2 people dying of the disease every hour. Acne, psoriasis, and rosacea are among other common skin disorders in the US. Acne affects 50 million Americans annually, while ~7.5 million adults suffer from psoriasis every year; the highest incidence is reported among people aged 45–64. Further, the dermatology devices market in the US also benefits from the presence of top market players that launch innovative medical devices on a frequent basis. For instance, in January 2020, 3Derm Systems, Inc. (3Derm), a pioneer in the skin imaging and diagnostics industry, received two Food and Drug Administration (FDA) breakthrough device designations for 3DermSpot, an algorithm that uses artificial intelligence (AI) and highly standardized skin images to autonomously detect melanoma, squamous cell carcinoma, and basal cell carcinoma.
Rising Number of Aesthetics Procedures Boosts Overall Market Growth:
Cosmetic surgical procedures have gained high attention across the world. Among cosmetic surgeries performed in 2020, the top 5 cosmetic surgical procedures were nose reshaping, eyelid surgery, facelift, liposuction, soft tissue filler, chemical peel, laser skin resurfacing, intense pulsed light (IPL) treatment, scar revision, and laceration repair. Among these, the IPL treatment has replaced laser skin removal, and it stood among the top 5 minimally invasive cosmetic procedures, with ~827,000 procedures performed in 2020. Estimates published by the International Society of Aesthetic Plastic Surgery report show that 15.6 million cosmetic procedures are performed annually, of which 2.3 million are cosmetic surgical procedures and 13.2 million are minimally invasive cosmetic procedures. According to the same report, 10,129,528 aesthetic surgical procedures and 14,400,347 nonsurgical procedures were performed in 2020. On the other hand, 1,485,116 aesthetic surgical procedures and 3,182,815 nonsurgical procedures were performed in the US only.
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As per the International Society of Aesthetic Plastic Surgery report, US$ 16.7 billion were spent on cosmetic procedures in the US, and South Atlantic recorded the highest number of cosmetic procedures performed in the US with about 3.8 million (25%) procedures in 2020. Furthermore, a report by the Cleveland Clinic Foundation states that liposuction is the second most commonly performed cosmetic surgery and surgical procedure performed in patients from the age group of 35–64 in the US. Short surgery time (typically under 3 hours) and recovery period, unobstructed scars, permanent results, and low complication and morbidity rates are a few of the advantages of liposuction over other surgical procedures.
Global Dermatology Devices Market: Segmental Overview
Based on product type, the global dermatology devices market is bifurcated into treatment device and diagnostic device. The treatment device segment accounted for a larger market share in 2021 and is expected to register a higher CAGR from 2022 to 2028. Based on application, the market is segregated as skin cancer diagnosis, skin rejuvenation, hair removal, body contouring & skin tightening, psoriasis, and others. The skin cancer diagnosis segment led the market in 2021 and is expected to retain its dominance during the forecast period. Based on end users, the global dermatology devices market is segmented into hospitals, dermatology clinics, and others. The hospitals segment led the market in 2021; however, the dermatology clinics segment is expected to register the highest CAGR during 2022–2028.
According to the Indian Journal of Dermatology report, the COVID-19 pandemic posed significant challenges to the healthcare system, especially to the institutes offering dermatology procedures. In North America, procedural dermatology, being an integral part of specialty, was profoundly affected as all elective and cosmetic procedures were deferred for prioritizing only urgent and inescapable dermatologic procedures to curb down the risk of SARS-CoV-2 transmission in hospitals. Dermatologists ranked ninth among the professionals who were at the highest risk of COVID-19, based on physical contact and proximity with patients, and exposure to disease and infection. The aforementioned factors resulted in the sluggish growth of the global dermatology devices market amid the global health crisis in 2020.
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