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.
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The key driving factors responsible for the growth of Dermatology
Devices 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. Thus, this large number of
plastic and aesthetic surgeries performed worldwide is also expected to augment
the dermatology devices market. Moreover, the increasing aesthetic concern
among the population has led to the increased demand for the dermatology
procedures ultimately leading to the dermatology devices market growth. In
addition, the hair related problems are also expected to boost the growth of
the market.
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.
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