Dermatology Devices Market Size & Demand Report, 2022-2028

Dermatology Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Treatment Device and Diagnostic Device), Application (Skin Care Diagnosis, Skin Rejuvenation, Hair Removal, Body Contouring & Skin Tightening, Psoriasis, and Others), End User (Hospitals, Dermatology Clinics, and Others)

Publication Month : Sep 2022

  • Report Code : TIPHE100001274
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 240
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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.

Dermatology Devices Market -

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Dermatology Devices Market: Strategic Insights

dermatology-devices-market
Market Size Value inUS$ 5,408.57 Million in 2021
Market Size Value byUS$ 11,235.42 Million by 2028
Growth rateCAGR of 11.2% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
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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).

Lucrative Regions for Dermatology Devices Market

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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 Device Market, by Product Type – 2021 and 2028

 

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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 - 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.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Application, End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is meant by the Dermatology Devices market?

Dermatology is a specialty that employs a wide range of medical devices, from cosmetic applications to medical dermatology. Additionally, dermatology devices help in diagnosing and treating skin disorders. Also, these devices are intended for cryosurgery, photodynamic therapy, Moh's micrographic surgery, and electrodesiccation & cutterage. The Food and Drug Administration (FDA) plays a critical role in the regulation, approval, and post-marketing surveillance regarding the safety and efficacy of these devices.

What are the driving factors for the Dermatology Devices market across the globe?

Growing Prevalence of Skin Cancers and Skin Disorders are the most significant factors responsible for the overall market growth.

Which test type segment led the Dermatology Devices market?

Based on product, the treatment device segment took the forefront leaders in the worldwide market by accounting largest share in 2021 and is expected to continue to do so till the forecast period.

Which application segment held the largest market share in the Dermatology Devices market?

Based on the application, skin cancer diagnosis segment took the forefront leaders in the worldwide market by accounting largest share in 2021 and is expected to continue to do so till the forecast period.

Which end user segment held the largest market share in the Dermatology Devices market?

The hospitals segment dominated the Dermatology Devices market and accounted for the largest market share of 53.64% in 2021.

Who are the key players in the Dermatology Devices market?

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. among others are among the leading companies operating in the Dermatology Devices market.

What is the regional market scenario of the Dermatology Devices market?

Dermatology Devices market is segmented by countries comprising of North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.

The List of Companies - Dermatology Devices Market

  1. Alma Lasers (Sisram Medical)
  2. Cutera Inc.
  3. Candela Corporation
  4. Solta Medical (Bausch Health Companies Inc.)
  5. FotoFinder Systems's
  6. Cynosure
  7. Lumenis
  8. El.En SpA
  9. Leica Microsystem
  10. Aerolase Corp.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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