Trusted Business Insights presents the Latest Study on Dermatology Devices Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Dermatology Devices Market
The global dermatology devices market size was valued at over USD 9.6 billion in 2017 and is expected to showcase lucrative growth over the forecast period, registering a CAGR of 13.5%. Increasing prevalence of skin cancer and other skin diseases has significantly contributed to high demand for various dermatological diagnostic and treatment procedures in recent times, thereby spurring product demand.
Television, social media, and advertising have had a tremendous impact on consumers paying increased attention to physical appearances and esthetics. This has also raised interest in a variety of cosmetic and esthetic surgeries and procedures. This, supported by surge in consumer disposable income and introduction of technologically advanced solutions, has had a major impact on market demand.
People of all age groups and ethnicities have shown interest in skin rejuvenation products and procedures. There has been a latent shift from using conventional products to opting for technologically advanced equipment that aid in better diagnosis and treatment of various skin diseases. These are also known to improve esthetic appearance. Introduction of technologically advanced noninvasive laser therapies has also resulted in high demand for dermatology devices.
Another key factor driving the market is rising prevalence of melanoma and non-melanoma skin cancers. According to The Skin Cancer Foundation, around 10,130 people die due to melanoma every year in U.S. American Cancer Society 2018 statistics stated that in U.S., around 91,270 new melanoma cases are expected to be diagnosed in 2018. The American Academy of Dermatology (AAD) estimated that 1 in 3 Americans visit dermatologists and 1 in every 4 are affected with some form of skin disease every year. This has resulted in a growing need for speedy and effective diagnosis of such disorders.
Market Segmentation, Outlook & Viewpoint: Global Dermatology Devices Market
Product Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Diagnostic Devices Type Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Other Imaging Devices
Diagnostic Devices Application Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Skin Cancer Diagnosis
Treatment Devices Type Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Light Therapy Devices
Treatment Devices Application Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Acne, Psoriasis, and Tattoo Removal
Wrinkle Removal and Skin Resurfacing
Body Contouring and Fat Removal
Vascular and Pigmented Lesion Removal
End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Key Players, Recent Developments & Regional Insights: Global Dermatology Devices Market
Treatment devices held the largest market share in 2017 and the segment is expected to exhibit the highest CAGR over the forecast period. This is mainly due to widening scope of application of dermatology treatment. Among treatment devices, laser products held the dominant share in the market in 2017 and the segment is poised to register the fastest growth rate through 2025.Body contouring and fat removal is the most prominent dermatological treatment application.
By product, diagnostic devices account for a comparatively smaller share in the market owing to relatively lower levels of awareness pertaining to availability of various novel instruments. However, rising prevalence of skin cancer is anticipated to drive this segment in future. Dermatoscopes led the diagnostic devices segment by type in 2017 due to introduction of advanced technologies. Skin cancer diagnosis is anticipated to exhibit significant growth over the forecast period due to rise in disease prevalence.
The global dermatology devices market has been segmented on the basis of end use into hospitals, clinics, and others. The hospitals segment held the largest market share in 2017 owing to greater demand for, and availability and usage of advanced dermatological equipment in hospital settings. In addition, availability of wide treatment options in such facilities has also increased the number of patient visits for diagnosis and treatment of a variety of skin diseases in these facilities. Apart from this, increased investments in state-of-the-art infrastructure has contributed to the greater share of this end-use segment.
The clinics segment is slated to register the fastest growth over the course of the forecast period. With growing need for specialized dermatology treatments, patients have been visit specialty dermatology clinics for rapid and effective service. This has significantly contributed to the popularity and revenue generation of the end-use segment. Moreover, global rise in prevalence of skin cancer and melanoma has led to a latent increase in number of patients visiting such specialty clinics for treatment and care.
In 2017, North America accounted for the largest share in terms of revenue and this trend is likely to continue throughout the forecast period. Increasing prevalence of skin cancer and other skin diseases such as eczema and rosacea is the major factor driving this market. Growing awareness regarding esthetic appeal, higher consumer disposable income, greater availability of advanced treatment and surgical procedures, and rising adoption of cosmetic procedures are some of the other prominent factors contributing to market growth in this region.
Asia Pacific is poised to emerge as the fastest growing regional market over the course of the forecast period. The primary factor boosting this market is rapid emergence and growth of medical tourism across several countries. This has not only spurred the number of patients opting for various cosmetic procedures in the region but has also encouraged an increasing number of major multinational companies to invest in research and development in these countries. The impact of television, advertising, and social media has been vital in hiking consumer interest in cosmetic and esthetic surgeries.
Dermatology Devices Market Share Insights
Some of the key players in the market are 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.
Leading companies have been concentrating on strategic initiatives such as mergers and acquisitions, new product development, and geographical expansion to gain a stronger foothold in the market. For instance, in 2018, Cutera announced the launch of Secret RF, a device intended for effective wrinkle removal, scar diminishing, and collagen remodeling.
Key Insights Covered: Global Dermatology Devices Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue, and growth rate) of Dermatology Devices industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate, and gross margin) of Dermatology Devices industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Dermatology Devices industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Dermatology Devices industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Dermatology Devices industry.
Research Methodology: Global Dermatology Devices Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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