The Dermatology Devices Market was valued at US$ 4.6 billion in 2021 and is anticipated to reach US$ 9.3 billion by the end of 2032, growing at a CAGR of 6.5%. According to a recent study by Future Market Insights, Laser will rule its product category in 2021 with a market share of around 46.1%.
Many medical service providers, including hospitals, doctor’s offices, dermatology clinics, and academic research institutions, use dermatology devices to monitor the rising prevalence of skin conditions. Also, there is rising knowledge about cosmetic operations. On the other hand, the healthcare infrastructure in developing nations is notably growing.
Also, the UN Population Division projects that by 2050, there will be 2.1 billion people who are elderly. In other words, by 2050, 22% of the world’s population would be 60 or older. It is common knowledge that ageing and the skin’s degradation over time are related. As a result, the dermatological devices industry is anticipated to be completely overtaken in the next years by aesthetic therapies including skin tightening and anti-wrinkle treatment.
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The American Society for Aesthetic Plastic Surgery has stated that the year 2019 alone saw 204,745 liposuction procedures being performed in people aged between 51 and 64. Plus, over 35K procedures were performed amongst people over 65 years of age. It further states that the year 2020 saw over 38K procedures in the ones aged between 55 and 69 and 3K+ procedures in those aged above 70.
The last 10 years have also seen a growing demand for non-invasive and minimally invasive aesthetic procedures over conventional surgical procedures. The major advantages offered by non-surgical alternatives/minimally invasive procedures include reduced scarring, less pain, and faster recovery.
Aesthetic procedures accelerating the dermatology devices market include cosmetic dermatology and aesthetic lasers. The application areas of aesthetic lasers include skin rejuvenation, hair removal, treating psoriasis, acne, removal of wrinkles, removal of tattoos, vascular lesions, skin resurfacing, and pigmented lesions. YAG and CO2 laser systems are the ones in most demand. They could be sold for over US$ 50K each and have been immensely popular amongst the users.
At the same time, the fact that dermatology procedures come with several probable side-effects can’t be ignored. These side-effects could be lightening or darkening of the affected skin after laser hair removal. Also, there could be redness or edema. Though red light therapy is looked upon as being safe and painless, there have been various complaints raised in this regard. For instance – RLT units resulting in blisters and burns. The dermatology devices market is likely to witness turbulence mentioned above in the forecast period.
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Key Takeaways from Dermatology Devices Market
- North America holds more than 80% of the market share due to a sizable population opting for dermatology procedures in the wake of growing incidences of rosacea and eczema.
- Japan leads the Asia-Pacific, accounting for over 40% of its market share due to rising geriatric population.
- China is expected to witness a CAGR of ~7% in the dermatology devices market going forward.
- With rising occurrences of skin issues, the UK holds 12% of the Europe’s share and the status quo is expected to remain the same even in the forecast period.
- Laser accounts for more than 40% of the overall market share.
- Application-wise, skin rejuvenation holds ~20% of the market share.
- By end-user, specialty dermatology clinics holds more than 38% of the market share.
“With aesthetic appeal getting prioritized, the global dermatology devices market is poised to grow inadvertently in the forecast period” says an analyst from Future Market Insights.
Competitive Arena
- Cynosure, Inc., in 2022, entered into collaboration with Clayton, Dubilier & Rice, so as to announce a novel investment of US$ 60 Mn from the latter.
- Lumenis, in 2021, inked a definitive agreement, so as to sell ‘Lumenis Surgical Business’ to ‘Boston Scientific’.
- Candela, in 2022, did collaborate with The Vascular Birthmarks Foundation, Dr. Giacomo Colletti, Laserplast, so as to enable over 30 pre-qualified patients from as many as 13 countries for receiving free laser treatments in Italy (Milan).
- Canfield Scientific, in 2022, completed acquisition of Medici Medical s.r.l. for creating Canfield Scientific s.r.l., for opening high class facility adjoining Modena and launching medical dermatology education program.
- Alma, in 2021, tabled Alma PrimeX – a non-invasive platform for skin tightening and body contouring.
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What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the dermatology devices market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on product type (lasers (fractional, diode, infrared 1319 nm, Alexandrite laser, Nd: YAG 1064 nm, pulsed, KTP (potassium titanyl phosphate)), IPL devices, RF devices, microdermabrasion devices, and likewise), by application (vascular lesions (Telangiectasia, Hemangiomas, Port wine stains, and Venous lakes), scar removal (red or hypertrophic scars and hyperpigmentation), tattoo removal, hair removal, wrinkle removal, acne treatment, skin rejuvenation, pore reduction, and likewise), and by end-user (hospitals, specialty dermatology clinics, and private clinics).
Key Market Segments Covered In Dermatology Devices Industry Research
By Product Type:
- Lasers
- Fractional
- Diode
- InfraRed 1319 nm
- Alexandrite laser
- Nd: YAG 1064 nm
- Pulsed
- Potassium Titanyl Phosphate (KTP)
- IPL devices
- RF Devices
- Microdermabrasion Devices
- Others
By Application:
- Vascular Lesions
- Scar Removal
- Tattoo removal
- Hair removal
- Wrinkle Removal
- Acne Treatment
- Skin Rejuvenation
- Pore Reduction
By End User:
- Hospitals
- Specialty Dermatology Clinics
- Private Clinics
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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