January 10, 2020
According to the research report titled ‘Dermatology Devices Market Size By Product Type (Diagnostic Devices [Imaging Devices, Dermatoscopes, Biopsy Devices], Treatment Devices [Light Therapy Devices (LED Therapy), Lasers, Microdermabrasion Devices, Cryotherapy Devices, Electrosurgical Equipment, Liposuction Devices]), By Application (Skin Cancer, Skin Rejuvenation, Hair Removal, Body Contouring and Skin Tightening, Psoriasis), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Brazil, Mexico, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global dermatology devices market is expected to cross USD 20 billion by the year 2025.
According to the report, growing occurrence of skin disorders including psoriasis, scars, eczema, and acne is the major factor driving the dermatology devices market growth. Increasing awareness pertaining to aesthetic and physical appearance is also aiding the expansion of the market. Development of technologically advanced therapeutic procedures and diagnostic devices are stimulating the industry outlook.
Growing demand for home-based devices, coupled with high occurrence of obesity are augmenting the demand for dermatology devices across the globe. Growing elderly population, surging healthcare spending, and rising per capita income are also facilitating the business scenario. However, high cost of dermatology procedures and various side effects associated with skin treatments are hindering the growth of the market.
As per the product type, the report cites that treatment segment of dermatology devices market is estimated to grow with a CAGR of 12.5% during the period of 2019-2025. Rising adoption of advanced treatment methods and increasing cases of skin disorders are fueling the growth of the segment.
Elaborating further on dermatology treatment devices, the laser segment is expected to register substantial growth during the estimated timeframe. Increasing utilization of laser therapy for removal of wrinkles, age spots, fine lines, and unwanted hair, along with skin tightening procedure is contributing towards the popularity of the device across the globe.
Based on the application spectrum, skin rejuvenation segment was worth USD 2 billion in 2018 and is expected to expand substantially during the forecast period. Use of dermatology devices for skin rejuvenation promotes collagen production in body which repairs skin texture and enhances skin tone. Growing geriatric population who are opting for skin rejuvenation procedures will impel the market growth.
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Considering the geographical landscape, Europe dermatology devices market held 27% revenue share in 2018 and is expected to register continuous growth during the forecast period. Rising adoption of advanced dermatology devices, availability of state-of-the-art healthcare facilities, and increasing awareness pertaining to advanced skin diagnosis and treatments are contributing towards the growth of the Europe dermatology devices market.
The prominent companies operating in the dermatology devices market are Solta Medical (Bausch Health Companies, Inc.), Michelson Diagnostics Ltd., Lumenis, Leader Healthcare India, Image Derm, Inc., Hologic, Inc., HEINE Optotechnik GmbH & Co. KG, Genesis Biosystems, Inc., Ellipse (Candela Corp.), Dansys Group, Cutera, Cortex Technology, Biolitic AG, Beijing Toplaser Technology Co. Ltd., AMD Global Telemedicine, Inc., Ambicare, Alma Lasers, and 3Gen.
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