Dermatology Devices Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

Market Overview

The dermatology devices market was valued at USD 12,849 million in 2020, and it is expected to reach USD 26,050million by 2026, registering a CAGR of 12.5% during the forecast period.

The outbreak of COVID-19 impacted the dermatology devices market. The closure of non-essential businesses created a disruption in the dermatology industry, and consumers are now looking for online cosmetic home treatments. The dermatology brands can exploit this opportunity to renovate their online offerings, offer e-consultation services, and invest in advanced technology as more consumers seek cosmetic advice from the comfort of their homes.

Moreover, the pressure to look good on zoom video calls during lockdown has prompted a spike in cosmetic procedures across the Globe. The most in-demand surgical procedures included rhinoplasty, breast augmentation, laser eye surgery, smile correction procedures, and eyelid surgeries. The increased exposure to videoconferencing software, the constant exposure to one’s own appearance has also been a driver for the post-lockdown increase in procedures. For instance, the Cadogan Clinic reported a huge increase in facial surgery, which saw a 10-fold increase, a 188% rise in fat transfer/face-lift procedures, and a 78% increase in rhinoplasties in the year 2020 than the previous year. Thus, the demand for dermatological devices for cosmetic procedures in order to improve appearance has been increasing in the upcoming years​.

The dermatology devices market is expected to witness rapid growth, owing to the increasing prevalence of skin cancer and other skin diseases, and contribute significantly to the high demand for dermatology devices. Furthermore, growing awareness of cosmetic procedures to improve the aesthetic appeal and technological advancements in dermatology devices drive the adoption of these devices. The rise in disposable income is driving the market for dermatology devices.

Skin disease is one of the leading causes of the increasing global disease burden, affecting millions of people worldwide. Aging and environmental and genetic factors result in the development of a diverse number of skin diseases. The prevalence of melanoma and non-melanoma skin cancers is rising significantly. According to the Skin Cancer Foundation, around 10,130 people die due to melanoma every year in the United States. Furthermore, the 2018 statistics of the American Cancer Society stated that in the United States, around 91,270 new melanoma cases were expected to be diagnosed in 2018. Hence, there has been a consistent rise in the number of skin problems for the past few years, which may help in the growth of the overall market.

Moreover, the introduction of advanced dermatology devices for removing age spots or dark marks is expected to drive the product demand over the forecast period. Procedures, such as microdermabrasion, are used to renew the overall skin tone and reduce scarring, wrinkles, and other skin-related conditions. The increasing awareness of these procedures is expected to drive the demand for dermatology procedures, leading to a subsequent rise in demand for dermatology devices.

However, the side effects related to dermatological treatments and stringent regulatory policies for medical devices are some of the factors, which is likely to hamper the growth of the market.

Scope of the Report

As per the scope of the report, dermatology devices are the devices that are installed in hospitals and dermatology clinics to assist physicians and non-physician clinicians. These dermatology devices are used for the diagnosis and treatment of skin-related disorders, cosmetic surgery, and replacement of deformed, damaged, or lost parts of the body, acne, genital herpes, liposuction, skin wounds, venous leg ulcers, genital warts, and others. The dermatology devices consist of lasers, RF devices, microdermabrasion devices, and other associated accessories. The skin-related issues in males and females have been increasing the need for dermatology devices globally. The market is segmented by diagnostic devices type (imaging devices, dermatoscopes, and microscopes), diagnostic devices application (skin cancer diagnosis and other diagnostic device applications), treatment devices type (light therapy devices, lasers, electrosurgical equipment, liposuction devices, microdermabrasion devices, and cryotherapy devices), treatment devices application (vascular lesions, acne, psoriasis, and tattoo removal, hair removal, wrinkle removal, body contouring and fat removal, and other treatment device applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above-mentioned segments.

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Key Market Trends

Dermatoscopes Anticipated to Show High Growth during the Forecast Period

The pandemic is likely to have a profound impact on the market studied. The pandemic has mightily impacted consumer behavior, with many upcoming beauty trends fast-forwarded and new purchase and usage patterns appearing. Telehealth became a viable solution for many dermatological practices. For instance, the Permanente Medical Group (TPMG) teledermatology program is designed for patients concerned about suspicious lesions or moles on their bodies. The patient can take a picture of the location in question and send it to their primary care physician for review. Thus, the above-mentioned factors are likely to boost the dermatological market in upcoming years.

A dermatoscope or a skin surface microscope is a non-invasive, handheld magnification tool that is directly placed on the surface of the skin of the patient to examine the key morphological structures of skin lesions, which are on and below the skin surface and are not easily visible to the naked eye. This is useful to dermatologists in distinguishing benign from malignant (cancerous) lesions, especially in the diagnosis of melanoma. Dermoscopy has also been observed to improve the diagnostic accuracy, sensitivity, and specificity for skin cancer diagnosis by dermatologists.

These devices have been continued to be valuable in the dermatology industry, along with new technologies in areas such as artificial intelligence (AI), which enhance its uses to become an essential tool in every medical professional's office. Moreover, they are gaining popularity in other fields of medicine, including primary care. Several studies have revealed the accuracy of dermatoscopes.

Moreover, the introduction of advanced dermatoscope is expected to drive the product demand over the forecast period. In 2020, a global primary diagnostic instrument manufacturer HEINE launched two new dermatoscopes, DELTA 30 and DELTA, one in the United States, including an enhanced achromatic optical system for pristine images. Thus, the above-mentioned factors are expected to drive the growth of the dermatology devices market.

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