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.
The high prevalence of this skin condition is anticipated to contribute to market growth. For instance, in 2019, nearly 7,800 Canadians were estimated to be diagnosed with melanoma and nearly 1,300 Canadians were estimated to die due to melanoma. Obesity has become one of the major health concerns as well, for both the male and female populations. Hence, fat removal procedures are being highly adopted. Liposuction is considered an effective obesity treatment. A rise in disposable income levels is also another factor driving the product demand. In addition, technological advancements in laser treatments are increasing the application scope of these devices, thus boosting the demand by physicians and patients alike.
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Dermatology Devices Market Report Highlights
- Treatment devices dominated the market in 2021 due to a rise in awareness regarding various aesthetic procedures & products, which led to increased adoption of both surgical and non-surgical cosmetic procedures
- Laser devices held a significant market share in 2021 due to their extensive usage in a variety of diseases and cosmetic treatments
- Skin cancer diagnosis held a substantial market share in 2021 on account of the high prevalence of this disease, particularly melanoma
- Skin rejuvenation is expected to have a lucrative growth over the forecast period due to the growing number of geriatric people opting for such treatment procedures
- The hospitals segment held the largest revenue share in 2021 owing to the advanced infrastructure and enhanced services offered in these settings
- North America was the dominant regional market in 2021 due to the increased beauty consciousness and awareness regarding aesthetic procedures
Key Companies & Market Size 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. In November 2021, Lancer Skincare, the premier Beverly Hills-based international skincare brand, teamed up with ByondXR to launch The Virtual Lancer Dermatology Shop. Lancer Skincare’s new virtual store will provide customers with the in-home benefits of a Lancer dermatology practice through a curated, digital experience that moves across the newly growing digitized world.
In August 2021, STRATA Skin Sciences, Inc. completed the acquisition of the U.S. dermatology business of Ra Medical. This acquisition provided STRATA an opportunity to immediately market its full business solution to Ra Medical’s existing customer base of 400 dermatology practices. In October 2019, HEINE launched two new dermatoscopes, the DELTA 30 and DELTAone, which have fully optimized achromatic optical systems that ensure crystal clear images. Some of the key players of the 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.
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