The market for dermatology devices worldwide was estimated to be worth US$ 4.6 billion in 2021 and is expected to grow at a CAGR of 6.5% to reach an estimated US$ 9.3 billion market value by the end of 2032. In 2021, Laser will dominate its product segment, with a market share of about 46.1%, according to a recent study by Future Market Insights.
The Dermatology Devices Market is a rapidly growing sector within the medical industry, encompassing a wide range of specialized devices used in the diagnosis, treatment, and management of various skin conditions and diseases. These devices play a crucial role in enhancing dermatological procedures’ precision, efficiency, and patient outcomes. Key dermatology devices include lasers, light therapy devices, microdermabrasion machines, cryotherapy devices, and more. With an increasing prevalence of skin disorders and the rising demand for minimally invasive aesthetic procedures, the global dermatology devices market is expected to experience significant expansion in the coming years. Advanced technologies and innovative products continue to drive the market’s growth, offering healthcare professionals enhanced diagnostic capabilities and patients improved treatment options for various skin conditions.
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According to Future Market Insights analysis, the global dermatology devices market is expected to reach US$ 2,708.4 Mn in terms of revenue by 2016 end, witnessing a year-over-year growth of 6.2%.
Factors such as rising prevalence of skin problems including acne leading to scars, increasing obesity, and growing aesthetic awareness among people are likely to contribute to the revenue growth of the global dermatology devices market over the forecast period. Economic factors such as growing healthcare expenditure, increasing disposable income per capita, and rising government support in developed economies are expected to boost the growth of the global dermatology devices market over the forecast period.
Segmentation highlights
The global dermatology devices market is segmented on the basis of Product Type (Lasers, RF Devices, Microdermabrasion Devices, Others); Application (Vascular Lesions, Tattoo Removal, Hair Removal, Wrinkle Removal, Scar Removal, Acne Removal, Others); and End User (Hospitals, Specialty Dermatology Clinics, Private Clinics).
- The Lasers product type segment is projected to dominate the global dermatology devices market in terms of value over the forecast period. This segment is anticipated to hold a market value share of 46.5% by the end of 2016
- The RF Devices product type segment is expected to be the second most lucrative segment in the global dermatology devices market
- The Vascular Lesions application segment is expected to account for 18.2% revenue share of the global dermatology devices market by 2016 end
- The Hair Removal application segment is expected to reach US$ 915.6 Mn by 2026 owing to increase in prevalence of polycystic ovarian syndrome in women
- The Speciality Dermatology Clinics end user segment is anticipated to reach a market valuation of US$ 2,005.3 Mn by 2026
- The Private Clinics end user segment is expected to account for 30.3% revenue share of the global dermatology devices market by 2016 end
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Regional market projections
The global dermatology devices market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. The demand for non-invasive cosmetic correction procedures has been significantly high in the U.S. market in the recent years, making North America the most lucrative market globally. In addition to North America, demand for non-invasive cosmetic procedures has been significantly growing in Western Europe and APEJ. Western Europe is expected to account for 20.3% revenue share of the global dermatology devices market by 2016 end.
Vendor insights
The global dermatology devices market report profiles some of the leading companies operating in the global dermatology devices market such as Valeant Pharmaceuticals International Inc., Cynosure Inc., Lumenis, Syneron Candela Ltd., Avita Medical Ltd., Shanghai Fosun Pharmaceutical Group Co. Ltd., Cutera, Lutronics Corporation, and Beijing Toplaser Technology Co. Ltd. Major market players are adopting different strategies such as product launches and acquisitions to maintain their market share. For instance, in November 2015, Lumenis acquired Pollogen to strengthen and expand its aesthetic products portfolio. Similarly, in May 2016, Alma Lasers launched Accent Prime that combines ultrasound and unipolar radio frequency technologies to provide enhanced body contouring and skin tightening treatments.
Key Segment By Product Type
- Lasers
- Fractional
- Diode
- InfraRed
- Alexandrite laser
- Nd:YAG
- Pulsed
- Potassium Titanyl Phosphate (KTP)
- RF Devices
- Microdermabrasion Devices
- Others
By End User
- Hospitals
- Specialty Dermatology Clinics
- Private Clinics
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By Application
- Vascular Lesions
- Tattoo Removal
- Hair Removal
- Wrinkle Removal
- Scar Removal
- Acne Removal
- Others
About FMI:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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