Dermatology Devices Market To Predict Global Expansion, Due To A Rise In Disposable Income Levels

Dermatology Devices Industry Overview

The global dermatology devices market size is expected to reach USD 34.3 billion by 2030, registering a CAGR of 11.9% over the forecast period, according to a new report by Grand View Research, Inc. Dermatology devices are expected to have a high demand due to rising beauty consciousness, increasing cases of skin diseases, and the growing influence of social media. The incidence of skin disorders, such as psoriasis, acne, eczema, and skin lesions, is continuously rising across the globe owing to irregular lifestyles and food habits. Melanoma is the deadliest form of skin cancer arising due to overexposure to the sun. Dermatology diagnostic devices help in the early diagnosis of melanoma.

Dermatology Devices Market Segmentation

Grand View Research has segmented the global dermatology devices market on the basis of product, application, end-use, and region:

Based on the Product Insights, the market is segmented into diagnostic devices, treatment devices.

• The treatment devices segment held the largest market share of about 79% in 2021 and is also expected to register the fastest CAGR over the forecast period.

• This is mainly due to the availability of wide applications of dermatology treatment. In addition, the launch of novel technologies in the laser device category is attributed to the segment growth.

• The low market share for diagnostic devices can be attributed to lower awareness levels about various novel instruments.

• However, the rising prevalence of skin cancer is anticipated to drive segment growth in the future.

• Among the treatment devices, laser products held the largest share in 2021 and will also record the fastest CAGR over the forecast period owing to the wide usage of laser products.

• Dermatoscopes dominated the diagnostic devices segment in 2021 due to the availability of advanced technologies.

• The skin cancer diagnosis is anticipated to show significant growth over the forecast period due to the rise in prevalence of the disease and increasing emphasis on early detection.

• Laser hair removal devices generated the maximum revenue share in 2021 owing to the huge benefits associated with these devices.

Based on the Application Insights, the market is segmented into diagnostic devices, treatment devices.

• The hair removal treatment application segment held the largest market share of more than 15% in 2021, and will also register the fastest CAGR from 2022 to 2030.

• The treatment application segment is further segmented into 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.

• Hair removal devices, particularly laser devices, have been proved to be safer for all skin tones and hair colors and facilitate less painful treatment procedures, thereby propelling the segment growth.

• A rise in the demand for cosmetic laser treatments like tattoo removal, skin resurfacing, and skin tightening has significantly increased the adoption of dermatology devices in this segment.

• According to the International Society of Aesthetic Plastic Surgery, treatments like non-invasive fat reduction witnessed a 21.1% increase, laser hair removal witnessed a 76.1% increase, and photo rejuvenation had a 32.3% increase in 2020 as compared to 2019.

Based on the End-use Insights, the market is segmented into hospitals, clinics, others.

• The hospitals segment held the largest market share of more than 54% in 2021 owing to the wide adoption of advanced dermatology equipment in hospital settings.

• The availability of various treatment options in such facilities increases the number of visits for skin disease diagnosis and treatments, which, in turn, supports the segment growth.

• The clinics end-user segment is estimated to register the fastest CAGR from 2022 to 2030. Dermatology clinics are cosmetic and medical facilities that focus on the diagnosis and treatment of skin conditions.

• Global rise in the prevalence of skin cancer and melanoma coupled with an increasing number of clinics offering dermatology services have led to an increase in the number of patients visiting dermatology clinics for treatment and care.

Dermatology Devices Regional Outlook

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The key companies are concentrating on strategic initiatives, such as mergers and acquisitions, new product development, and geographical expansions. For instance, in 2018, Cutera announced the launch of Secret RF, a device intended for effective wrinkle removal, scar diminishing, and collagen remodeling.

Some prominent players in the global dermatology devices market include:

• Alma Lasers GmbH

• Cynosure, Inc.

• Solta Medical, Inc.

• Cutera, Inc.

• Syneron Medical Ltd.

• Canfield Scientific, Inc.

• 3Gen

• Aesthetic Group

• Ambicare Health

• Image Derm, Inc.

Order a free sample PDF of the Dermatology Devices Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.