Dermatology Devices Market Size, Share & Trends Analysis Report By Product & Application, By End Use, By Region And Segment Forecasts, 2020 - 2027

Dermatology Devices Market Size, Share & Trends Analysis Report By Product & Application, By End Use, By Region And Segment Forecasts, 2020 - 2027

  • February 2020 •
  • 129 pages •
  • Report ID: 5867127 •
  • Format: PDF
Dermatology Devices Market Size, Share & Trends Analysis Report By Product & Application (Diagnostic Devices, Treatment Devices), By End Use (Hospitals, Clinics), By Region, And Segment Forecasts, 2020 - 2027

The global dermatology devices market size is expected to reach a value of USD 35.3 billion by 2027., registering a CAGR of 15.1% over the forecast period. The product demand is expected to increase owing to rise in skin conditions and growing influence of social media.

Increasing incidences of skin disorders such as psoriasis, acne, eczema, and skin lesions across the globe is attributed to irregular lifestyle and food habits.Melanoma is the most deadly form of skin cancer which arises due to overexposure to the sun.

Dermatology diagnostic equipment help in the early diagnosis of melanoma.High prevalence of this skin condition is anticipated to contribute to the market growth.

For instance, in 2019, nearly 7,800 Canadians were estimated to be diagnosed with melanoma and nearly 1,300 Canadians were estimated to die due to melanoma.

Moreover, obesity has rapidly become a major health concern.Hence, fat removal procedures are increasingly being adopted.

Liposuction is considered as an effective treatment for obesity, which, in turn, drives the product demand.Rising disposable income and increasing financial independence among women are also driving market growth.

In addition, technological advancements in laser treatments increases its application scope, subsequently driving the product demand over the forecast period.

North America is projected to be the largest market globally through the forecast period.This is attributed to growing incidences of conditions such as eczema, which can be treated dermatologically.

Growing popularity of cosmetic procedures such as cellulite and fat removal and scar removal is also projected to drive the growth of the regional market.On the other hand, Asia Pacific is projected to witness the fastest growth rate over the forecast period.

Factors such as high medical tourism and increasing R&D activities are driving the Asia Pacific market.

Further key findings from the study suggest:
• Treatment devices dominated the market in 2019 owing to the rise in awareness regarding various aesthetic procedures and products, which, in turn, leads to a rise in adoption of both surgical and non-surgical cosmetic procedures
• Laser devices accounted for the largest share in 2019 due to its wide application in a variety of disease and cosmetic treatments
• Skin cancer diagnosis held a substantial market share in 2019 owing to the high prevalence of this disease condition, particularly melanoma
• Skin rejuvenation is expected to witness lucrative growth over the forecast period owing to the increasing popularity of this treatment procedure
• Hospitals accounted for the largest share in 2019 owing to the rise in adoption of advanced infrastructure and enhanced services in these settings
• North America dominated the global dermatology devices market in 2019 due to increasing awareness of aesthetic procedures and rising beauty consciousness among the population
• Key market players include 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.