Dermatology Devices Market

Global Dermatology Devices Market Size (2023 to 2028)

The global market size for dermatology devices is forecasted to be worth USD 29.78 billion by 2028 from USD 15.37 billion in 2023, growing at a CAGR of 14.14% from 2023 to 2028.

Dermatology devices include lasers, intense pulsed light devices, RF devices, microdermabrasion equipment, and accessories. These devices are used to diagnose skin cancer and are deployed in hospitals and dermatology clinics to assist physicians, nonphysicians, and clinicians in treating skin diseases. Skin biopsy, cryosurgery, topical chemotherapy, photodynamic therapy, Mohs micrographic surgery, and electrodesiccation & curettage are all possible with the equipment.

Impact of COVID-19 on the global dermatology devices market:

The COVID-19 outbreak influenced the dermatology devices market. Healthcare professionals, equipment, and facilities have been relocated because of the COVID-19 pandemic to deal with the increasing number of COVID-19 patients. The pandemic severely hampered global pharmaceutical and medical supply systems. During the forecast period, this is expected to limit the growth of the dermatological devices market. Increased awareness of the need to avoid hospital-acquired infections and the risk of exposure to COVID-19 during the pandemic is expected to limit the number of surgical aesthetic operations, lowering the growth of the dermatological devices market over the forecast period. In addition, the dermatology devices market has been disrupted by the closure of non-essential enterprises, and consumers are now looking for online cosmetic home treatments. As more consumers seek cosmetic counsel from the comfort of their homes, dermatology firms may take advantage of this opportunity to update their online products, offer e-consultation services, and invest in modern technology. As a result, the market has had moderate growth during the pandemic. However, the situation is expected to change soon, and the dermatology devices market is expected to regain the lost growth potential in no time.

MARKET DRIVERS:

The growing prevalence of illnesses such as psoriasis, and acne, increased healthcare spending, and other skin disorders are predicted to accelerate the growth rate of the global dermatology devices market during the forecast period.

Furthermore, the growing need for improved aesthetics, which necessitates dermatological equipment, supports the market. Because of the rising frequency of skin cancer and other skin illnesses, the dermatology devices market is predicted to rise rapidly, contributing to the increased demand for dermatology devices. Furthermore, the popularity of these devices is fuelled by increasing knowledge of cosmetic procedures to boost aesthetic appeal and technological improvements in dermatology equipment. The demand for dermatology devices is being driven by increased disposable income.

The increase in the prevalence of disorders that require surgical treatment, particularly minimally invasive surgery (MIS), is projected to favor the expansion of the market, which will also assist the dermatology devices market in gaining momentum in the future years. In addition, the introduction of advanced dermatology devices for removing age spots or dark marks is expected to boost product demand over the forecast period. Furthermore, demand for dermatology equipment for skin rejuvenation treatment is likely to increase over the next decade as people become more conscious of modern aesthetic standards. Therefore, technologically upgraded dermatological products are expected to drive market expansion.

MARKET RESTRAINTS:

Rigid regulatory frameworks and lengthy approval processes may hinder research and cause new product releases to be delayed in this market. In addition, adverse effects of dermatological treatments and unawareness about the devices are expected to be some of the challenges that may hinder the market's progress during the forecast period.

REPORT COVERAGE:

This research report on the global dermatology devices market has been segmented and sub-segmented based on the product type, application, end-user & region.

Dermatology Devices Market – By Application:

• Skin Cancer Diagnosis
• Psoriasis
• Skin Rejuvenation
• Warts

The skin cancer diagnosis segment is estimated to account for the most significant share of the global dermatology devices market throughout the forecast period due to an increase in the incidence of skin cancer, which necessitates early detection. In addition, growing research on skin cancer diagnosis to combat skin-related ailments would help the business generate more significant revenue shares in the coming years.

Dermatology Devices Market – By Product:

• Diagnostic Devices
  • Imaging devices
  • Dermatoscopes
  • Microscopes
• Treatment Devices
  • Electrosurgery Devices
  • Cryotherapy Devices
  • Laser Devices

The market for dermatology diagnostic devices is predicted to grow at a healthy CAGR over the forecast period. Therefore, this dermatoscopes are likely to grow rapidly in this market. A dermatoscopy, also called a skin surface microscope, is a non-invasive, portable magnification tool that is placed directly on the patient's skin surface to evaluate the essential morphological components of skin lesions that are on and below the skin surface but not visible to the naked eye.

Dermatology Devices Market – By End-User:

• Hospitals
• Clinics

Hospitals held the largest revenue share in the global market in 2022, and the segment is predicted to increase at a steady CAGR, continuing its dominance in the market. This development can be attributed to sophisticated dermatology technologies in hospital settings. Furthermore, the availability of a wide range of treatment options in hospital settings has increased the number of people seeking skin disease diagnosis and treatment.

Dermatology Devices Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The rapid rise of the medical tourism sector in the Asia Pacific, owing to low-cost treatment choices, is likely to fuel product demand in the region, boosting market growth. Furthermore, an increase in the number of big multinational businesses engaging in R&D is a crucial driver supporting the expansion of regional end-use industries, which will fuel market growth in the Asia Pacific. India is currently a growing nation with a vast population. As people's disposable income improves and their awareness of improved skin treatments grows, the country is witnessing a massive shift in lifestyle trends. Therefore, demand for dermatology devices in the country is driven by changing beauty trends and standards.

Dermatological devices are predicted to have the largest market share in North America, followed by other regions. Improved healthcare infrastructure, services in emerging countries, and more public health awareness are all factors that contribute to North America's more significant market share. Overall, demand for dermatological equipment in both emerging and developed regions of North America is predicted to skyrocket in the coming years. This trend is expected to continue due to the increased prevalence of skin cancer and other skin diseases such as eczema and rosacea. The number of cases of skin cancer in the United States is increasing.

KEY MARKET PARTICIPANTS:

Alma Lasers GmbH, Cynosure, Inc., Solta Medical, Inc., Cutera, Inc., Syneron Medical Ltd., Canfield Scientific, Inc., 3Gen, Aesthetic Group, Ambicare Health, and Image Derm, Inc. are a few of the notable companies operating in the global dermatology devices market profiled in this report.

RECENT HAPPENINGS IN THIS MARKET:

• In 2020, Lancer Skincare, the leading international skincare brand founded by Board Certified Dermatologist Dr. Harold Lancer, is proud to announce the launch of its first skincare exfoliation equipment, the Pro Polish Microdermabrasion Device.
• 3Derm Systems, Inc., a leader in the skin imaging and diagnostics industry, announced that 3DermSpot, an algorithm that uses artificial intelligence (AI) and highly standardized skin images to autonomously detect melanoma, squamous cell carcinoma, and basal cell carcinoma, has been granted two FDA Breakthrough Device designations.