USD 15.29 Billion
Dermatology Devices Market Size, Share, Growth Analysis, By Device Type (Diagnostic Devices, Treatment Devices), By Application (Hair Removal, Skin Rejuvenation), By End Use (Hospitals, Clinics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2941 |
Region:
Global |
Published Date: November, 2024
Pages:
198
|Tables:
92
|Figures:
71
Dermatology Devices Market Insights
Global Dermatology Devices Market size was valued at USD 6.20 billion in 2022 and is poised to grow from USD 6.99 billion in 2023 to USD 18.18 billion by 2031, growing at a CAGR of 12.7% in the forecast period (2024-2031).
Due to increasing incidences of skin cancer along with various other skin disorders, skin care instruments find their demand in the market. Usage also finds a significant rise due to recent technological development in dermatological devices and enhanced aesthetic awareness of them. Disposable income of individuals is increased hence considered as one of the major growth factors in the industry. Skin cancers, such as melanoma and non-melanoma, have become a widely occurring factor. In the present climatic conditions, people of all age groups are becoming interested in enhancing their aesthetic outlook, and this will stimulate the growth of the market. The restoration of complete skin enhances the aesthetic view of an individual. Conventional products have gradually given way to high-tech devices assisting various skin conditions and helping their diagnosis and treatment besides giving an edge to one's look. Dermatological equipment is in great demand with the advent of technologically advanced non-invasive laser therapy. In addition, increasing awareness of the aesthetic appeal and technical developments regarding gadgets and skin care products is drawing more people to it. Furthermore, mergers and acquisitions gave a push to the consolidation of the dermatology sales companies. Large companies, to strengthen their market position and expand their product portfolios, have acquired companies that guarantee access to emerging technologies, intellectual property, and clientele.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Diagnostic Devices
Fastest Growth
Skin Cancer Diagnosis
Growth Rate
12.64%
Global Dermatology Devices Market ($ Bn)
Country Share for North America Region (%)
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Dermatology Devices Market Segmental Analysis
Global Dermatology Devices Market is segmented on the device type, treatment application, end use, and region. By device type, the market is segmented into Diagnostic Devices (Dermatoscopes, Microscopes, Other imaging devices, Biopsy devices), Treatment Devices (Light therapy devices, Lasers, Electrosurgical equipment, Liposuction devices, Microdermabrasion devices, Cryotherapy devices). By treatment application, the market is segmented into Hair Removal, Skin Rejuvenation, Acne, Psoriasis, & Tattoo Removal, Wrinkle Removal & Skin Resurfacing, Body Contouring & Fat Removal, Vascular & Pigmented Lesion Removal, Warts, Skin Tags, and Weight Management, Other Treatment Applications. By end use, the market is segmented into Hospitals, Clinics, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Application
Since skin cancer is one of the most common types of cancer across the globe, the skin cancer diagnosis segment is leading the market. Early identification is a must to have better treatment and improved patient outcomes, making technology imperatives such as dermoscopy, digital imagery, and AI-assisted tools. Dermoscopy allows for an in-depth analysis of skin lesions, while digital images create high-definition images for rapid monitoring of change over time. These images are increasingly analyzed by AI systems to identify patterns indicative of malignancy. All these put together enhance the accuracy of diagnosis, reduce human fallibility, and enable early interventions that eventually save lives and improve the success rate of treatments. The role of skin cancer diagnosis in preventive care underlines the importance of diagnosis. Owing to its increasing incidence due to increased UV exposure, along with other environmental factors, health systems have prioritized early detection through screening as a major strategy in the effective treatment and reduction of skin cancer.
The skin rejuvenation segment is expected to rise as the number of people interested in cosmetic treatments increases. The growth is driven by scientific advancements made through non-invasive treatments such as radiofrequency treatments, laser therapy, and microneedling. These technologies offer effective methods of improving texture, minimizing rhytids, and enhancing overall appearance without surgical intervention. They are in demand because of their effectiveness in providing noteworthy results with less downtime. Thus, they become popular options among a wide range of patients who seek aesthetic improvements. In addition, several possibilities for proper and personalized skin care have emerged with the evolution of these technologies. Moreover, a rise in awareness of anti-aging treatments among individuals of all ages is pushing this application to grow. As concepts of beauty and self-care change in society, more people are investing in procedures to keep their skin young and indications of aging. This is supported by ongoing R&D into improving the effectiveness and safety of therapies.
Analysis By End-Use Type
The hospital segment led the dominant position in the market in 2023 due to the availability of advanced and the latest dermatological machinery. With a wide range of diagnostic and therapeutic options, they allow for comprehensive treatment of various skin conditions. The availability of advanced technology increases the accuracy of diagnosis and optimizes the outcomes of treatment; therefore, hospitals hold a leading position among patients seeking specialized care. This patient's confidence in hospitals translates into more visits for diagnosis and treatment related to skin diseases. The fact that treatments range from the simplest to the most complex and that they continually introduce advanced dermatological developments means that a sizeable portion of the market continues to belong to them.
Due to the consumers' rising demand for specialist dermatological clinics offering speed and efficacious therapy, the clinic segment is expected to grow rapidly. This is particularly favored because such clinics have full expertise and come up with a treatment plan tailored to meet the unique skin care needs of every patient. The market is growing due to the growing trend of people toward specialized treatment due to the rise in melanoma and skin cancer cases across the globe. Furthermore, expansion of skin care centers has increased patient participation by facilitating access to dermatological procedures. It is, in fact, a fast-growing industry, as more people have been enlightened on skin health and are coming forward to professional clinics for better care and treatment.
Global Dermatology Devices Market By End-Use Type
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Dermatology Devices Market Regional Insights
North America dominated the market share with 43.00% of revenue in 2023, driven by factors such as an increasing number of skin cancers and other skin disorders such as rosacea, eczema, and acne, along with an increase in aesthetic procedures. Increasing demand for minimal and non-invasive procedures, development of technology, new device formulation, and rising cases of skin-related disorders are some of the factors that will drive the U.S dermatology devices market in the future. 80% of all Americans develop acne vulgaris at some point in their lives, and of those, 20% go on to develop serious acne capable of causing permanent physical and emotional scarring.
However, available treatment options will continue to drive medical tourism in Asia-Pacific. This, in part, has been attributed to an increase in the number of large multinational corporations engaging in R&D in this region. In addition, it is predicted that the growing awareness of beauty among both men and women would propel the local market. A leading nation in this sector is China. Increasing aesthetic industry in China propels the dermatology devices market. Laser treatment devices for hair removal and scar reduction treatments will be in high demand due to the short downtime and less invasiveness of laser treatment devices. The Dermatology Devices Market in India is growing in a speedy rate, mainly major cities of the country. This growth is mainly due to increasing demand for cosmetic surgeries.
Global Dermatology Devices Market By Geography
- Largest
- Fastest
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Dermatology Devices Market Dynamics
Drivers
Technological Advancements
- Rapid technological development is one of the other key factors that influence the growth of the dermatology devices market. The devices with minimally invasive therapies, high-resolution imaging, and AI for accurate diagnosis started to revolutionize dermatological care. Technological advancements increase the rate and accuracy at which skin diseases are diagnosed and treated, thus increasing the accessibility and efficacy of therapies. For this reason, the market has generally grown when new technologies become available owing to the enhancement of patient outcomes and increased use of therapies being offered. There is much about integrating advanced technology into dermatology devices that plays a major role in driving the dermatology devices market forward, meeting the ever-growing demand for enhanced skin care.
Rise in the Prevalence of Skin Disorders
- The other reasons for growth in the dermatology devices market include increasing skin-related disorders such as psoriasis, acne, and skin cancers. Improved diagnosis with the help of advanced technology and increased awareness globally have resulted in more frequent screenings and early diagnosis of several illnesses. Diagnosis and treatment technologies are increasingly in demand owing to the rise of skin disorders because of altered lifestyle and environmental factors. This demand, in turn, has caused growth in the market as medical professionals are eager to equip themselves with advanced resources to diagnose, treat, and effectively manage a variety of skin disorders.
Restraints
High Cost of Advanced Equipment
- The high cost of advanced equipment is a major restraint to the growth of the dermatology devices market. Advanced technologies require huge financial investments in their development and purchase, such as AI-based diagnostic platforms and high-resolution imaging equipment. It may be beyond the reach of smaller clinics and health centers to bear this high cost, and hence their contribution to offering the latest therapies may be limited, and perhaps this may impede market growth. Moreover, the expensive cost of these technologies can hinder access by patients, particularly for regions with more modestly scaled healthcare budgets. This may act as a restraint on the overall growth of the dermatology devices market.
Regulatory Challenges
- Strict regulations regarding devices for dermatology, combined with very lengthy approval processes, can emerge as a significant challenge. Approval for new devices requires overcoming complex regulatory regimes, a process often considerably time-consuming. It requires considerable testing and paperwork. These legal barriers create a lot of headaches for the producers, which reduce the time-to-market for new products, while increasing the cost of development. Conforming to various foreign standards and laws further complicates the barriers to entry and market expansion when it comes to smaller companies or whenever new technology is being offered. Consequently, regulatory hurdles extend to the pace at which new technologies can be brought to market and will hamper the overall growth of the dermatology devices market.
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Dermatology Devices Market Competitive Landscape
Competition between established medical technology companies and new entrant entrepreneurs in the dermatology devices market is very intense. Major corporations in this segment make use of advanced technologies such as AI and high-resolution photography for the sake of competition in increasing their market share. Innovation, strategic alliances, and acquisitions will propel the competition as companies try to meet demand that's ever-increasing from patients and physicians.
Top Player’s Company Profiles
- Alma Lasers, Ltd. (a subsidiary of Sisram Medical Ltd.) (Israel)
- Cutera, Inc. (US)
- Cynosure, Inc. (US)
- El.En. S.p.A. (Italy)
- Lumenis, Ltd. (a subsidiary of Boston Scientific) (Israel)
- Solta Medical (a subsidiary of Bausch Health Companies Inc.) (US)
- Dermlite (US)
- Bruker Corporation (US)
- Carl Zeiss (Germany)
- Genesis Biosystems, Inc. (US)
- Heine Optotechnik GmbH & Co. KG (Germany)
- Michelson Diagnostics, Ltd. (UK)
- Photomedex, Inc. (a subsidiary of DS Healthcare Group) (US)
- Fotofinder Systems GmbH (Germany)
- Leica Microsystems (a subsidiary of Danaher Corporation) (Germany)
- Olympus Corporation (Japan)
- Candela Corporation (US)
- Canfield Scientific, Inc. (US)
- Beijing Toplaser Technology Co., Ltd. (China)
- Syneron Medical Ltd. (a part of Apax Partners) (Israel)
- Aerolase (US)
- Bovie (a subsidiary of Symmetry Surgical) (US)
Recent Developments
- In July 2023, Canfield Scientific announced that it would participate in the 25th World Congress of Dermatology. The event was held at the Suntec Singapore Convention & Exhibition Centre and was scheduled to take place from July 4th to 7th. It showcased its latest and most innovative dermatological tools and products with live demonstrations, including VEOS, IntelliStudio, DermaGraphix, and VECTRA WB360.
- In April 2023, ISO 9001:2015 and ISO 13485:2016 certification was provided to Canfield Scientific for the quality management system.
- According to an announcement in February 2023, Candela Corporation, a global medical aesthetic device company, has licensed and made available the dual-wavelength Frax Pro non-ablative fractional laser platform with Health Canada and the Nordlys multi-application platform powered by SWT.
Dermatology Devices Key Market Trends
- Integration of AI: One significant development in the market that is gradually shaping up the dermatology landscape is the integration of AI in devices. AI technologies analyze a high volume of data from imaging and patient records for better diagnosis accuracy and treatment precision. Algorithms of machine learning employed for pattern detection or abnormalities within skin lesions, which may not easily be viewed with the human eye, lead to earlier and more accurate diagnoses. In dermatological operations, AI-based solutions improve effectiveness through the automation of such processes as treatment planning and picture analysis. This is driving the development of advanced, smart devices that meet the needs of both clinical and cosmetic dermatology and will in turn improve patient outcomes and widen the market.
- Growing Demand for Non-Invasive Medicinal Treatments: Non-invasive dermatological procedures are gaining wide acceptance due to patient preference for surgeries which reduce downtime and minimize complications. These include radiofrequency, laser treatment, and microneedling-non-invasive techniques which are effective but have very minimal downtime. Such treatments appeal to a wide variety of patients because they can help with everything from scarring to pigmentation, aging, and acne. This demand for non-invasive alternatives fuels development in dermatological devices, with manufacturers inventing advanced technologies to meet the market demand for skin care products that are effective, easy to use, and irritate the skin least.
Dermatology Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the dermatology devices market is going to be developed in the future, with constant change in patient preferences and technological developments. Its future will be shaped by the move toward non-invasive procedures and the integration of AI in dermatological care for improved patient outcomes and more accurate diagnostics. Despite numerous such obstacles, including the expensiveness of equipment and strict regulations, the market is competitive, with ample opportunities to grow and innovate. The dermatology devices market will keep changing as more people seek advanced and effective skin health treatments. On the other hand, the industry will embrace new trends and technology to meet the demands of such a diverse and growing population.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.20 billion |
| Market size value in 2031 | USD 18.18 billion |
| Growth Rate | 12.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Dermatology Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Dermatology Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Dermatology Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Dermatology Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Dermatology Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Dermatology Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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