Dermatology Devices Market
Dermatology Devices Market Analysis By Product Type (Radiofrequency Electrosurgery, Ultrasonic Electrosurgery, Laser-based), By End User (Hospitals, Ambulatory Surgical Centers, Dermatology Clinics), By Application and Region- Global Market Insights 2021-2031
Analysis of Dermatology Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Dermatology Devices Market Outlook (2021-2031)
Revenue from the global dermatology devices market reached US$ 12 Billion in 2020, and the market is predicted to reach US$ 39 Billion by 2031.
This data has been analyzed in a recently updated study by Fact.MR, a market research and competitive intelligence provider. As per the study, the dermatology devices market is anticipated to surge at an impressive CAGR of around 12.5% over the next ten years.
|Global Market Value in 2020||US$ 12 Billion|
|Forecasted Market Value for 2031||US$ 39 Billion|
|North America Market Share (2020)||
|Historical Data Available for||2016-2020|
|Key Market Segments Covered||
|Key Companies Profiled||
Demand Analysis of Dermatology Devices (2016 to 2020) Vs Future Market Projections (2021 to 2031)
The need to look aesthetically perfect and appealing has become more prominent than ever, and this has created huge demand for dermatology devices on a global scale. Increasing prevalence of skin disorders and skin cancers are also promoting the dermatological treatment market. Demand is also driven by consumers who are looking to get dermatological treatments done from the comfort of their homes, which is a result of increase in online sales of dermatology devices.
Adoption of dermatology devices for hair removal and adoption of dermatology devices for stretch marks reduction are some trends that are influencing global market growth potential. The market for dermatology devices is changing drastically as the scope of application is increasing with rising investments from manufacturers and dermatology device suppliers to increase their sales.
As people show early signs of aging and the trend of not looking aged picks up, sales of dermatology devices for wrinkle removal are anticipated to increase. Overall, from 2021 to 2031, the global dermatology devices industry is expected to progress at a CAGR of 12.5%.
Which Sectors Would Benefit Most from Technological Advancements In Dermatology Devices?
Dermatology diagnostics devices market and dermatology imaging device market are the two major industries that would be shaped by advancements in dermatology devices. As technological proliferation increases, compatibility norms change for the devices used in the industry.
As technology advances, the need for advanced instruments and devices is expected to fuel demand for dermatoscopes and dermatology microscopes. Sales of dermatoscopes and dermatology microscopes are also expected to see steady increase with more advanced and precise devices being launched by various manufacturers.
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Which Applications of Dermatology Devices are Expected to Be Popular?
As demand for dermatological treatments and procedures increases, research and investments are also increasing and widening the scope of applications. Dermatology devices for psoriasis are also expected to see an evolution in terms of demand, as more instances of the skin condition are expected to appear over the next ten years.
Demand for dermatology devices for skin rejuvenation treatment is also expected to rise significantly over the decade as people become more concerned about modern beauty standards. The dermatology treatment devices market is anticipated rise at a positive CAGR over the decade. Technologically advanced dermatology devices are expected to majorly drive market development.
Which Dermatology Products are Expected to Perform Well in Future?
There is a wide array of products in dermatology and most are driven by their demand for various dermatological procedures. Products such as dermatology microdermabrasion devices and dermatology lasers have gained massive popularity in the past few years, and they are expected to have a bright outlook over the forecast period.
Demand for dermatology lasers and dermatology microdermabrasion devices is expected to rise at a steady CAGR and speed up with increasing research & development by various manufacturers. Sales of dermatology lasers are expected to see an increase as the application of laser technology increases.
Demand for radiofrequency electrosurgery dermatology devices is expected to be the most significant under the product type segment. Sales of radiofrequency electrosurgery dermatology devices are expected to rake in majority of revenue share in this segment. Whereas, sales of ultrasonic electrosurgery dermatology devices are expected to bring in the least revenue in this segment. As such, demand for ultrasonic electrosurgery dermatology devices is not anticipated to be very high over the next ten years.
Demand for laser based dermatology devices is also expected to be significant owing to wide adoption of laser technology in dermatology. Sales of laser-based dermatology devices are expected to account for a substantial amount of revenue share as well.
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Which Regions are Expected to Be Lucrative Markets for Dermatology Device Manufacturers?
This research details the global market for dermatology devices across regions North America, Latin America, Europe, APAC, and MEA.
North America accounted for nearly 40% of the global dermatology devices market share in 2020. Increasing instances of skin cancer and skin disorders are expected to drive demand across the region. A similar trend is expected to be seen in the European region for dermatology devices.
The APAC market is anticipated to rise at the fastest CAGR among all the regions. High growth can be attributed to rising adoption of dermatology devices in emerging economies and increasing consumer awareness across the region. MEA is also expected to see some major increase in demand as awareness about dermatological procedures increases.
What Scope Does the U.S. Dermatology Devices Market Have?
The U.S. market is anticipated to rise at a stellar CAGR over the next ten years. Increasing focus on looking aesthetically pleasant, high beauty standards set by social celebrities, rising prevalence of skin cancer and skin disorders, and increasing proliferation of technology in dermatological procedures are some of the key factors driving the market in the U.S.
The dermatology equipment market in the U.S. is also expected to evolve as demand for dermatology procedures surges.
Will India Prove to Be a High-Growth Market for Dermatology Devices?
India has a massive population and is still an emerging economy. The nation is seeing a major shift in lifestyle trends as the disposable income of people rises and awareness among people for better skin treatments increases. Changing beauty trends and standards are also expected to drive demand for dermatology devices in the country.
How is Demand for Dermatology Devices from Dermatology Clinics?
Installation of dermatology devices at dermatology clinics is expected to rise at a high rate over the next ten years, and this can be attributed to increasing demand for specialized dermatology treatments and surgeries.
While hospitals still hold majority of revenue share in terms of end use, installation of dermatology devices at hospitals is expected to see steady growth, but is not expected to be overtake the dermatology clinics segment in terms of CAGR. Demand for dermatology surgical instruments is also expected to see steady growth
COVID-19 Pandemic Impact
The COVID-19 pandemic changed a lot of things across the globe, and shaped many industries as well as completely changed the working of some. The dermatology devices space saw a major drop in sales, but the industry also saw a noticeable rise in online sales of devices that could be used by consumers without any professional help. This trend is expected to continue in the post-pandemic world as well.
Growth of the global dermatology devices market by 2021-end is expected pick pace as most restrictions get lifted and life returns to normalcy across the globe. Growth opportunities for dermatology device manufacturers in 2021 are expected to be immense as normalcy in demand and supply chain returns after over a year of restrictions.
Dermatology accessory manufacturers are also expected to gain immense opportunities in the consumer use segment as more people prefer DIY dermatological treatments.
Manufacturers are investing in the research & development of new products to capture market potential as per consumer demand. New product launches and increase in research are expected to be prominent trends.
- Google as launched its dermatology AI app in June 2021. The AI-powered app will use image recognition to identify skin condition based on photos upload by a user. The app, however, did not acquire FDA certification, and hence, is only available in Europe as of now.
- In August 2021, Strata Skin Sciences announced that it has completed the acquisition of Pharos dermatology from Ra Medical. This will give Strat Skin Sciences around 400 dermatology practices that were part of the Ra Medical customer base.
- In September 2021, Swift Medical announced the launch of its new product - Swift Skin and Wound. This would enable patients and researchers to capture high-precision images of skin conditions through their smartphones.
Key Segments Covered in Dermatology Devices Industry Survey
By Product Type:
- Radiofrequency Electrosurgery
- Ultrasonic Electrosurgery
- Laser-based Dermatology Devices
By End User:
- Ambulatory Surgical Centers
- Dermatology Clinics
- Skin Rejuvenation
- Facial Treatments
- Tattoo Removal
- Body Contouring
- Hair Removal
- Stretch Marks Reduction
- Other Applications
- North America
- Latin America
- FAQs -
Increasing consumer awareness about beauty and aesthetics, rising prevalence of skin cancer and other skin disorders, and technological advancements are some of the factors anticipated to drive market growth.
Sales of dermatology RF devices are expected to account for majority of revenue share.
By 2031, market revenue is expected account for a valuation of US$ 39 Bn.
In 2020, North America held 40% of the global market share.
As per this research analysis by Fact.MR, through 2031, the market is expected to surge at a stellar CAGR of 12.5%.
Top manufacturers of dermatology devices are B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Heal Force Bio-meditech Holdings Limited, Johnson & Johnson Private Limited, Bovie Medical Corporation, Medtronic Plc, Smith and Nephew Co., and AngioDyna