Dermatology Devices Market Growth Drivers and Forecast by 2028

The global dermatology devices market was valued US$ 5,408.57 million in 2021;It is estimated to grow at a CAGR of 11.2% from 2022 to 2028.

The report highlights prevailing trends in the dermatology devices market and factors driving its growth. Dermatology involves the use of a wide range of medical devices for performing cosmetic and medical dermatology procedures. Dermatology devices help in the diagnosis and treatment of various skin disorders, such as skin cancer and psoriasis. They can also be used for cryosurgery, photodynamic therapy, Mohs micrographic surgery, and electrodesiccation and curettage. The Food and Drug Administration (FDA) plays a critical role in the regulation, approval, and post-marketing surveillance of these devices, ensuring their safety and efficacy.

The report offers insights and in-depth analysis of the global dermatology devices market, emphasizing various parameters, including market trends, technological advancements, market dynamics, and leading market players’ competitive landscape analysis. It also includes the impact of the COVID-19 pandemic on the market across all regions. COVID-19 had an overall mixed impact on the global dermatology devices market. Healthcare systems were overburdened amid this global health crisis, and the delivery of medical care to all patients became a key challenge in many regions. In addition, with the progression of the COVID-19 pandemic, medical device companies found difficulties managing their operations. Many dermatology device manufacturers having business operations in the US were adversely affected by the widespread outbreak of disease. However, after the pandemic restrictions were relaxed in response to the lowering number of cases, the number of aesthetic procedures performed by dermatologists returned to normal levels, as hospitals started resuming elective procedures, thereby propelling the demand for dermatology devices.

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Dermatology Devices Market: Strategic Insights

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Dermatology Devices Market - Geography-Based Insights

By geography, the global dermatology devices market is segmented into North America (US, Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of APAC), South & Central America (Brazil, Argentina, and the Rest of South & Central America), and the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and Rest of the Middle East & Africa).

Market Insights

Growing Prevalence of Skin Cancer and Disorders

According to the American Academy of Dermatology Association (AAD) report, skin cancer is the most prevalent cancer type in the US. For records, it is estimated that more than 9,500 people in the US are diagnosed with skin cancer every day. The majority skin cancers cases are of Nonmelanoma skin cancer (NMSCs), affecting more than 3 million Americans annually. Among these, women had the greatest incidence rates for NMSCs, with the rates increasing among the younger population. The annual cost of treating skin cancers in the US is estimated to be US$ 1.8 billion, US$ 4.8 billion for NMSCs, and US$ 3.3 billion for melanoma. Additionally, the Frontiers S.A. report states that the prevalence of skin cancer is a global trend. Skin biopsy and histopathological evaluation are essential in confirming skin cancer. For example, the development of imaging technologies, methods, and devices intended for recording and analyzing have progressed rapidly. Dermoscopic imaging devices irradiate light onto the upper dermal layer to observe and record detailed pigment changes. Additionally, the development of high-resolution noninvasive diagnostic devices, such as confocal microscopy and multiphoton microscopy, that can detect cellular levels of skin lesions without biopsy have also been widely accepted in the market. Such innovative developments effectively help in receiving skin cancer diagnosis, accurate reading of changes in suspicious lesions, and the effectiveness of follow-up skin cancer surgery.

Skin disorders is a major problem globally among teenagers and adults. Acne, Psoriasis, and Rosacea are among the most common skin disorders among the population. For records, Acne is the most common skin disorder affecting up to 50 million Americans annually, as per the estimates provided by AAD. Additionally, ~ 7.5 million people in the US have psoriasis, which is witnessed majorly among adults with the highest proportion between ages 45 and 64. Further, Rosacea is a common skin disease affecting 16 million Americans annually, as per the AAD published report. Diagnosis of such skin disorders can be effectively done by using Artificial Intelligence (AI). Such factors would offer lucrative opportunities for the overall global dermatology devices market during 2022–2028.

Dermatology Devices Market - Product-Based Insights

Based on product type, the global dermatology devices market is segmented into treatment devices and diagnostic devices. The treatment devices segment held a larger share of the market in 2021.

Dermatology Devices Market - Application-Based Insights

Based on application, the global dermatology devices market is segmented into skin cancer diagnosis, skin rejuvenation, hair removal, body contouring & skin tightening, psoriasis, and others. The skin cancer diagnosis segment held the largest market share in 2021.

Dermatology Devices Market Regional Insights

The regional trends and factors influencing the Dermatology Devices Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Dermatology Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Dermatology Devices Market Report Scope

Dermatology Devices Market Players Density: Understanding Its Impact on Business Dynamics

The Dermatology Devices Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Dermatology Devices Market are:

1. Alma Lasers (Sisram Medical)
2. Cutera Inc.
3. Candela Corporation
4. Solta Medical (Bausch Health Companies Inc.)
5. FotoFinder Systems's

Disclaimer: The companies listed above are not ranked in any particular order.

Dermatology Devices Market - End User-Based Insights

Based on end users, the global dermatology devices market is segmented into hospitals, dermatology clinics, and others. The hospital segment held the largest share of the market in 2021. However, the dermatology clinics segment is expected to grow at the highest CAGR% during 2022–2028.

Alma Lasers (Sisram Medical), Cutera Inc., Candela Corporation, Solta Medical (Bausch Health Companies Inc.), FotoFinder Systems's, Cynosure, Lumenis, El.En SpA, Leica Microsystem, Aerolase Corp. are among the key players in the global dermatology devices market. The market players have been employing organic strategies, including product launch and expansion, to expand their footprint and product portfolios worldwide.