9 Key Takeaways from Fact.MR’s Report on Dermatology Devices Market
Published : 31 Jul 2017 Industry: Healthcare
The global dermatology devices market is estimated to expand at an above-average CAGR over the forecast period (2017-2022). The global market for dermatology devices is expected to account for over US$ 1,000 Mn revenues by 2022-end. Dermatology devices have been installed in various hospitals and dermatology clinics for assisting physicians in treatment of skin disorders.
Procedures associated with non-invasive cosmetic correction have witnessed a surge in demand, with growing geriatric population, soaring healthcare expenditure, and rising disposable income of people in developing and developed countries. In contrast, high costs of dermatology devices have made the dermatological treatments expensive, which may act as a restraining factor to adoption of these treatments. Moreover, several side effects are associated with dermatological treatments, which in turn, incurs significant challenges for leading players in the global dermatology devices market.
The prevalence of skin-related disorders has been increasing around the world. As per “The Skin Cancer Foundation”, more than 10,000 people died owing to melanoma in 2016. In order to lower such high mortality rates, diagnosis of skin diseases, such as skin cancer. In addition, several diagnostic equipment have been utilized for treating various types of skin cancer. For instance – dermatoscopes are playing an indispensable role in detecting melanoma, with evaluation of the pigmented lesions. A number of technological advancements are being made in dermatology devices, for example – laser instruments, and light therapy improved aesthetic appeal of people. The advanced liposuction equipment have improved body contouring treatment. Power- and vibration-assisted liposuction devices have aided in reducing significant amount of fat in shorter time period. Developments such as these will impact growth of the market in the upcoming years.
9 Key Estimations for the Global Dermatology Devices Market
- Radiofrequency electrosurgery devices are expected to remain the most lucrative product in the market, and sales of these devices are estimated to account for more than one-third revenue share of the market over the forecast period.
- Revenues from ultrasonic electrosurgery devices sales are anticipated to hold the lowest share of the market.
- Although hospitals are estimated to remain the largest end-users in the global dermatology devices market, sales of these devices in dermatology clinics are expected to register the highest CAGR during the forecast period.
- On the basis of application, dermatology devices are anticipated to witness the largest adoption in procedures of hair removal.
- Stretch marks reduction will continue to be the second largest application of dermatology devices in the market.
- North America is estimated to remain dominant in the global market for dermatology devices, in terms of revenues.
- Dermatology devices sales across Asia Pacific excluding Japan (APEJ) are expected to exhibit the fastest expansion over the forecast period, followed by Europe.
- Europe is projected to remain the second most lucrative market for sales of dermatology devices.
- Key market players profiled in the report include Erbe Elektromedizin GmbH, Johnson & Johnson Private Limited, Medtronic Plc, Smith and Nephew Co., B. Braun Melsungen AG, Heal Force Bio-meditech Holdings Limited, Bovie Medical Corporation, and AngioDynamics, Inc.