Dermatology Devices Market Growth Analysis | 2023-2028

Dermatology Devices Market Growth Analysis | 2023-2028

Dermatology Devices Market Growth Analysis | 2023-2028
Report code - SR2503 Delivery - 2 Weeks
Dermatology Devices Market Size, Share, Trend, Dynamics, Forecast, Competitive Analysis, a See more...

“The Dermatology Devices Market was estimated at USD 10.4 billion in 2023 and is likely to grow at a CAGR of 8.10% during 2023-2028 to reach USD 15.35 billion in 2028”.

Dermatology-Devices-Market-Forecast

Wish to get a free sample? Register Here

Market Dynamics

Introduction

Dermatology devices are medical devices used to diagnose and treat skin conditions. They are used to examine the skin, remove skin tissue for testing, and deliver treatments such as cryotherapy, laser therapy, and photodynamic therapy. Dermatology devices can be used in a variety of settings, including dermatologists' offices, hospitals, and cosmetic surgery clinics. The most common types of dermatology devices are dermatoscopes, biopsy punches, Cryosurgery units, lasers, microdermabrasion devices, chemical peels, electrosurgical equipment, and liposuction devices.

Market Drivers

The global dermatology devices market is driven by a host of factors, some of which are noted below:

  • The rising number of people affected with cancer and other skin illnesses is a major factor in the growing product demand.
  • Growing public awareness of the aesthetic appeal of dermatology devices, as well as technological improvements in dermatology devices, are greatly increasing the usage of these devices.
  • An increase in disposable income is also regarded as a key factor driving industry expansion.
  • Melanoma and non-melanoma skin cancers are becoming increasingly common.

Melanoma kills around 10,130 people in the United States each year, according to The Skin Cancer Foundation. Furthermore, according to the American Cancer Society's 2018 data, around 91,270 new melanoma cases would be diagnosed in the United States that year.

Meanwhile, the American Academy of Dermatology (AAD) estimates that one in every three Americans visits a dermatologist each year, and one in every four is plagued by skin disease. As a result, there is an increasing demand for rapid diagnosis of skin problems. The COVID-19 epidemic has had a huge impact on the global dermatology devices market.

Furthermore, the high concentration of large enterprises and subsequent product introductions have a substantial impact on the market's expansion. Alma Lasers, for example, developed Alma PrimeX in April 2021, the leading non-invasive platform for skin tightening and body contouring. AMP and NanoPass Technologies have agreed to market NanoPass Technologies' MicronJet 600 intradermal delivery technology in the United States beginning in November 2021.

According to the American Society of Plastic Surgeons' Plastic Surgery Statistics Report 2020, 15.6 million cosmetic procedures were performed in the United States alone in 2020, with 13.2 million of those being aesthetic minimally invasive surgery.

According to the same report, people have chosen and undergone operations employing botulinum toxin out of all minimally invasive treatments, and botulinum toxin has been utilized in 4.4 million cosmetic minimally invasive procedures in the United States.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market:

  • Following the COVID-19 epidemic, the number of aesthetic devices available to clients at home increased. In accordance with an article named "Light-Based Home-Use Hair Removal Devices: A Cross-Sectional Survey" published by the International Journal of Trichology in February 2022, the use of home-based aesthetic devices has been increasing in recent years and has become more pertinent with the COVID-19 disease outbreak, as more patients were reluctant to visit clinics for non-emergency reasons. As a result, conditions are gradually improving.

Segment Analysis

Segmentations

List of Sub-Segments

Dominant and Fastest-Growing Segments

Product-Type Analysis

Diagnostic Devices, Treatment Devices

The treatment devices segment is dominate the market during forecast period.

Application-Type Analysis

Skin Cancer Diagnosis, 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

The hair removal treatment segment is expected to dominate the market during forecast period.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

North America is expected to be the leading region in the market during the forecast period.

By Product Type

“The treatment devices segment held the highest market share in 2022 and is predicted to grow at the quickest CAGR throughout the forecast period”.

The dermatology devices market has been segmented into diagnostic and treatment devices. Based on diagnostic devices, the market is further segmented into Dermatoscopes, Microscopes, Biopsy Devices, and Others. On the basis of treatment devices, the market is segmented into light therapy devices, lasers, electrosurgical equipment, liposuction devices, microdermabrasion devices, cryotherapy devices, and others.

The treatment devices segment held the highest market share in 2022 and is predicted to grow at the quickest CAGR throughout the forecast period. This is mostly owing to the availability of a wide range of dermatology treatments. Furthermore, the introduction of novel technologies in the laser device category is credited to segment growth.

The low diagnostic device market share can be attributable to a lack of awareness about numerous innovative equipment. The increased prevalence of skin cancer, on the other hand, is expected to boost category expansion in the future.

Dermatology-Devices-Market-by-application

Want to get more details about the segmentations? Register Here

By Application Type

“The hair removal treatment application category is expected to have the fastest CAGR from 2023 to 2028”.

The dermatology devices market has been divided into skin cancer diagnosis, 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, and others.

The hair removal treatment application category is expected to have the fastest CAGR from 2023 to 2028. Hair removal, skin rejuvenation, acne, psoriasis, and tattoo removal, wrinkle removal, skin resurfacing, body contouring and fat removal, cellulite reduction, vascular and pigmented lesion removal, and others are the treatment application segments.

Hair removal equipment, particularly laser devices, have been shown to be safer for all skin tones and hair colors, as well as to enable less unpleasant treatment processes, pushing the segment's expansion.

Regional Analysis

“North America contributed the largest in 2022. The regional market is expected to grow at a stable CAGR over the projection period, preserving its dominant position”.

The global dermatology devices market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America contributed the largest in 2022. The regional market is expected to grow at a stable CAGR over the projection period, preserving its dominant position.

The rising frequency of skin cancer and other skin illnesses such as eczema and rosacea, as well as the growing acceptance of cosmetic operations, are some of the primary drivers driving regional market expansion. Acne vulgaris affects 80% of the US population at some point in their life, with 20% suffering from severe acne, which can result in permanent physical and emotional damage.

From 2023 to 2028, the Asia Pacific regional market is expected to develop at the quickest rate. The rapidly developing medical tourism sector in Asia Pacific, owing to the availability of low-cost treatment choices, is likely to be a major driver of regional market expansion.

Furthermore, an increase in the number of international corporations engaging in R&D in Asia Pacific has proven to be an essential element driving the regional market. Rising consumer beauty consciousness is expected to drive product demand, consequently fueling regional market expansion.

Dermatology-Devices-Market-Regional-Analysis

Know the high-growth countries in this report. Register Here

Key Players

The following are the major players in the global dermatology devices market (arranged alphabetically)

  • Aesthetic Group
  • Alma Lasers GmbH
  • Ambicare Health
  • Bausch Health Companies Inc
  • Bruker Corporation
  • Canfield Scientific, Inc.
  • Carl Zeiss
  • Cutera, Inc.
  • Cynosure, Inc.
  • Genesis Biosystems, Inc.
  • Heine Optotechnik GmbH & Co. Kg
  • Image Derm, Inc.
  • Lumenis, Ltd.
  • Michelson Diagnostics, Ltd.
  • Photomedex, Inc.
  • Solta Medical, Inc.
  • Syneron Medical Ltd.
  • 3Gen

There is stiff competition in the dermatology devices market. The market's leading players can concentrate on creating sophisticated products.

For example:

  • The Splendor X device, CE-approved for hair removal, vascular therapies, pigmented lesions, and the treatment of wrinkles, was introduced by Lumenis in the UK in January 2022.
  • Lancer Skincare, the preeminent Beverly Hills-based international skincare company, collaborated with ByondXR to establish The Virtual Lancer Dermatology Shop in November 2021. Lancer Skincare's new virtual store will offer customers the in-home benefits of a Lancer dermatology practice via a tailored, digital experience that moves across the emerging digitized globe.
  • STRATA Skin Sciences, Inc. finalized the acquisition of Ra Medical's dermatological business in the United States in August 2021. STRATA was able to instantly offer its comprehensive business solution to Ra Medical's current client base of 400 dermatology practices as a result of this acquisition.
  • HEINE introduced two new dermatoscopes, the DELTA 30 and DELTAone, in October 2019, with fully tuned achromatic optical systems that ensure crystal clear images.
  • Cutera launched Secret RF in 2018, a device designed for effective wrinkle elimination, scar reduction, and collagen rebuilding.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Research Methodology

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the global dermatology devices market.

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth analysis of the  Dermatology Devices Market

How lucrative is the future?

The market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market Segment Analysis and Forecast

What are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirements?

10% free customization

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

Frequently Asked Questions (FAQs)

Dermatology devices are medical devices used to diagnose and treat skin conditions. They are used to examine the skin, remove skin tissue for testing, and deliver treatments such as cryotherapy, laser therapy, and photodynamic therapy. Dermatology devices can be used in a variety of settings, including dermatologists' offices, hospitals, and cosmetic surgery clinics. The most common types of dermatology devices are dermatoscopes, biopsy punches, Cryosurgery units, lasers, microdermabrasion devices, chemical peels, electrosurgical equipment, and liposuction devices.

The dermatology devices market was estimated at USD 10.4 billion in 2023.

The dermatology devices market is likely to reach USD 15.35 billion in 2028.

The dermatology devices market is expected to grow at a CAGR of 8.10% during 2023-2028.

The major players in the dermatology devices market are Alma Lasers GmbH, Cynosure, Inc., Solta Medical, Inc., Cutera, Inc., Syneron Medical Ltd., Canfield Scientific, Inc., 3Gen, Aesthetic Group, Ambicare Health, Image Derm, Inc., Lumenis, Ltd., Bausch Health Companies Inc, Bruker Corporation, Carl Zeiss, Genesis Biosystems, Inc., Heine Optotechnik GmbH & Co. Kg, Michelson Diagnostics, Ltd., Photomedex, Inc.

North America contributed largest in 2021. The regional market is expected to grow at a stable CAGR over the projection period, preserving its dominant position. The rising frequency of skin cancer and other skin illnesses such as eczema and rosacea, as well as the growing acceptance of cosmetic operations, are some of the primary drivers driving regional market expansion.

From 2022 to 2028, the Asia Pacific regional market is expected to develop at the quickest rate. The rapidly developing medical tourism sector in Asia Pacific, owing to the availability of low-cost treatment choices, is likely to be a major driver of regional market expansion.

The hair removal treatment application category is expected to have the fastest CAGR from 2022 to 2028. 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, and others are the treatment application segments.