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Dermatology Devices Market Overview
Robust growth is predicted for the dermatology devices market, in the near future, on account of the increasing incidence of skin diseases and disorders, technological advancements in the field, surging appearance consciousness, escalating healthcare spending and disposable income, and rising demand for non-invasive dermatological treatments.
Treatment devices and diagnostic devices are the two major types of products available across the world. Further, microscopes, imaging techniques, and dermatoscopes are the various diagnostic devices, among which imaging techniques accounted for the largest dermatology devices market share, in the past. Treatment devices include lasers, light therapy devices, liposuction devices, electrosurgical equipment, cryotherapy devices, and microdermabrasion devices. Treatment devices find application in pigmented lesions, hair removal, vascular lesions, acne, skin resurfacing, wrinkle removal, tattoo removal, and psoriasis, among which hair removal saw their widest use, historically.
On a geographical basis, North America had the largest dermatology devices market size in the past, as a result of the high prevalence of skin cancer and surging awareness about the use of such products for aesthetic purposes, primarily among middle-aged people. Further, the high disposable income in the region allows most of its residents to afford such devices and procedures, which is another reason for North America’s dominance on the industry.
In the coming years, Asia-Pacific (APAC) would observe progress at the highest CAGR in the dermatology devices market. In the region, the desire to look beautiful among the younger population in emerging economies is strong, which drives the sale of such devices. Additionally, the increasing disposable income is giving people more spending power, healthcare infrastructure here is improving, and government regulations are quite supportive. Due to all these reasons, the adoption of these therapies and equipment would grow considerably in the region, in the near future.
Dermatology Devices Market Dynamics
A prominent trend in the dermatology devices market is the surging use of smart devices for skin treatment. Gadgets such as tablet computers and smartphones are finding their way in the skin treatment domain, primarily because of advancements in information and communication technology. Mobile devices and applications help healthcare practitioners take informed and effective decisions, by consulting the general medical data. Due to the convenience these offer, mobile applications and devices are becoming an industry trend.
Among the most significant dermatology devices market drivers is the rising incidence of various skin diseases, such as melanoma and non-melanoma skin cancer, acne, genital herpes, venous leg ulcers, vascular lesions, and genital warts. According to the World Cancer Research Fund, 1 million cases of non-melanoma skin cancer and 300,000 cases of melanoma were diagnosed around the globe in 2018. Similarly, the World Health Organization says that one in every three cases of cancer is of the skin and one-fifth of the people in the U.S. would be diagnosed with the condition in their lifetime.
Dermatology Devices Market Competitive Landscape
The major players in the global dermatology devices market are launching new products to target a wider consumer base and get an edge over their competitors. For instance, in 2019, Alma Lasers unveiled BeautiFill, a laser-based treatment platform, which creates autologous fat of appreciable quality for effective face and body contouring. Similarly, NuEra tight, a device which offers radio frequency treatment for skin and cellulite laxity, was launched by Lumenis in 2018.
Among the key dermatology devices market players are Cutera Inc., Alma Lasers Ltd., Lumenis Ltd., Cynosure Inc., Gen Inc., Solta Medical Inc., Carl Zeiss, Bruker Corporation, Heine Optotechnik Gmbh & Co. Kg, Genesis Biosystems Inc., Photomedex Inc., and Michelson Diagnostics Ltd.