Outlook on the Dermatology Devices Market by Application, End-user and Geography

Nov 08, 2019- Million Insights Market Research has published a new report titled ‘Dermatology Devices Market  – Global Industry Analysis, Size, Share, Growth, and Forecast, 2018–2026.’ Dermatology Devices market report helps analyze trends and significant developments in the industry.

The global Dermatology Devices Market size is likely to reach USD 25.7 billion by 2025, registering at a 13.5% CAGR during the forecast period. Rising number of esthetic procedures and escalating prevalence of skin-related disorders are major factors contributing toward the growth of the market.

There has been a rise in incidences of poor skin conditions which lead to increasing number of the skin treatments performed where dermatology devices are needed. According to the International Society of Aesthetic Plastic Surgery, around 20,236 thousand aesthetic procedures were performed globally.

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Growing prevalence of skin cancer is another major factor contributing toward market growth. For instance, according to American Cancer Society, about 10,130 people die due to melanoma each year in the U.S. Thus, there is rising demand for dermatology products for the diagnosis of the skin cancer which can help the prevention of cancer at an early stage. For instance, dermatoscopes are used for the detection of skin cancer by the evaluation of pigmented lesions. Moreover, the growing technological advancements in the dermatology devices has led to the increased demand for these products. Furthermore, the increased incidence of the obese population has further led to increased demand for the liposuction procedures, where dermatology products are used, ultimately boost the market growth.

Product Insights

Based on the products, the dermatology devices market is classified into treatment and diagnostic devices. The dermatology treatment segment is estimated to dominate the market due to increasing population adopting newer dermatological or aesthetic procedures for the treatment of skin disorders and enhancement of the skin. Also, the acne-related problems are growing, which is attributed to increased demand for these products for acne treatment. This increase in the demand for the acne removal procedures has attributed to the growth of the market.

The diagnostic segment is expected to grow at a significant rate over the forecast period. This is due to the increased incidence of the skin disorders and skin cancer globally, which has created an awareness among the people for early stage diagnosis of cancer.

Skin cancer segment accounted for the largest share of the overall market in 2015 due to the increasing incidence of skin cancer worldwide. There is high demand for advanced diagnostics products for early detection of skin cancer. Amongst the dermatology treatment segment, the vascular lesions dominated the segment in 2015. This high share is due to the large application of the lasers and light therapy devices for the treatment of the vascular lesions.

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Some of the key players comprise Solta Medical, Inc.; Alma Lasers, Ltd.; Valeant Pharmaceuticals International Inc.; Cynosure, Inc.; Cutera, Inc.; Syneron Medical Ltd.; Avita Medical Ltd.; and GE Healthcare. These companies are involved in new product development, mergers & acquisitions, collaborations, and geographical expansions to gain maximum share in the sector. For instance, in 2013, cynosure, Inc., acquired Palomar medical technologies, that is expected to strengthen their laser-based treatment product portfolio.