Dermatology Devices Market Snapshot
|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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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.
|By Diagnostic Devices Type|
|By Diagnostic Devices Application|
|Skin Cancer Diagnosis|
|Other Diagnostic Device Applications|
|By Treatment Devices Type|
|Light Therapy Devices|
|By Treatment Devices Application|
|Acne, Psoriasis, and Tattoo Removal|
|Body Contouring and Fat Removal|
|Other Treatment Device Applications|
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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North American Region Holds the Largest Market Share of Dermatology Devices Market
Due to the high transmission rate and lack of treatment of COVID-19, North American countries have suffered and are continuing to bear a significant burden on their economies and healthcare systems. During the COVID-19 crisis, non-urgent clinical procedures and surgical procedures need to be postponed until the situation improves. Hospitals must ensure the quality of care provided to the patients. Thus, the dermatology devices industry has been hugely affected and has been facing many losses. Even the research and development mission has halted to an extent.
North America has accounted for the largest share of the market. This trend is likely to continue due to the increasing prevalence of skin cancer and other skin diseases, such as eczema and rosacea. An increasing number of skin cancer cases are also found in the United States. As per data published by the Skincare Foundation, in 2020, 1 in 5 Americans will develop skin cancer by the age of 70. More than two people die of skin cancer in the U.S. every hour. Also, when detected early, the 5-year survival rate for melanoma is 99 percent. Thus, the rising prevalence of skin cancer and other skin diseases contributes significantly to the high demand for dermatology devices.
Several medical technology companies focus on products that deliver less expensive, quicker, and more efficient patient care. For instance, in 2018, Cutera announced the launch of Secret RF, a device intended for effective wrinkle removal, scar diminishing, and collagen remodeling. These advancements in dermatology devices, in terms of features and wide-scale application for skin diseases, are expected to bolster the demand for dermatology devices in the market.
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The market players are expanding the dermatology devices portfolio by improving their existing product portfolios, with continuous innovation in the devices that are already available in the market. These players are also adopting growth strategies to expand their product offerings, strengthen their geographical reach, and increase their customer base. In June 2020, AbbVie company (Allergan Aesthetics) product JUVÉDERM VOLUMA XC was approved by the FDA for the augmentation of the chin region to improve the chin profile in adults over the age of 21. Such product advances are likely to fuel the market growth.
- In Jul 2020, Lancer Skincare announced the launch of its very first skincare exfoliating device, the Pro Polish Microdermabrasion Device. Pro Polish enhances the efficacy of the Lancer routine by delivering surface-layer microdermabrasion in a patented, handheld device.
- In Jan 2020, 3Derm Systems, Inc. (3Derm) announced that it was granted two FDA Breakthrough Device designations for 3DermSpot, an algorithm that uses artificial intelligence (AI) and highly standardized skin images to autonomously detect melanoma, squamous cell carcinoma, and basal cell carcinoma.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Skin Disorders
4.2.2 Technological Advancements in Skin Care Devices
4.2.3 Increasing Awareness on Aesthetic Procedures
4.3 Market Restraints
4.3.1 Side Effects Related To Dermatological Treatments
4.3.2 Stringent Regulatory Policies for Medical Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Diagnostic Devices Type
5.1.1 Imaging Devices
5.2 By Diagnostic Devices Application
5.2.1 Skin Cancer Diagnosis
5.2.2 Other Diagnostic Device Applications
5.3 By Treatment Devices Type
5.3.1 Light Therapy Devices
5.3.3 Electrosurgical Equipment
5.3.4 Liposuction Devices
5.3.5 Microdermabrasion Devices
5.3.6 Cryotherapy Devices
5.4 By Treatment Devices Application
5.4.1 Vascular Lesions
5.4.2 Acne, Psoriasis, and Tattoo Removal
5.4.3 Hair Removal
5.4.4 Wrinkle Removal
5.4.5 Body Contouring and Fat Removal
5.4.6 Other Treatment Device Applications
5.5.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.5.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.5.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Abbvie Inc. (Allergan Inc.)
6.1.2 Alma Lasers Ltd
6.1.3 Avita Medical Ltd
6.1.4 Bausch Health Companies Inc. (Solta Medical Inc.)
6.1.5 Bruker Corporation
6.1.6 CANDELA CORPORATION
6.1.7 Carl Zeiss
6.1.8 Cutera Inc.
6.1.9 Galderma SA
6.1.10 Genesis Biosystems Inc.
6.1.11 Hologic Inc. (Cynosure Inc.)
6.1.12 Lumenis Ltd
6.1.13 Merz Pharma GmbH & Co. KGaA
6.1.14 Syneron Medical Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Dermatology Devices Market market is studied from 2018 - 2026.
What is the growth rate of Global Dermatology Devices Market?
The Global Dermatology Devices Market is growing at a CAGR of 12.5% over the next 5 years.
Which region has highest growth rate in Global Dermatology Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Dermatology Devices Market?
North America holds highest share in 2020.
Who are the key players in Global Dermatology Devices Market?
Cutera Inc., Hologic Inc. (Cynosure Inc.), Lumenis Ltd, CANDELA CORPORATION, Alma Lasers are the major companies operating in Global Dermatology Devices Market.