Dermatology devices Market expected to reach $17,998 million by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Dermatology Devices Market by Product Type and Region: Global Opportunity Analysis and Industry Forecast, 2020–2030," The global dermatology devices market was valued at $8,810 million in 2020, and is projected to reach $17,998 million by 2030, registering a CAGR of 7.6% from 2021 to 2030. Dermatology devices are instruments that aid in the diagnosis and treatment of skin conditions. Skin biopsy, cryosurgery, topical chemotherapy, photodynamic treatment, Mohs micrographic surgery, electrodessication, and curettage are all possible with such equipment. Psoriasis, eczema, acne, rosacea, ichthyosis, vitiligo, hives, seborrheic dermatitis, and other skin diseases are only a few examples. The symptoms and severity of skin diseases vary. These can either be temporary or permanent as well as harmless or painful. Some skin diseases are caused by environmental factors while others may be hereditary. Some skin diseases are mild while others are potentially fatal. Skin disorders vary in symptoms and severity. In addition, these can be temporary or permanent, and may be painless or painful. Some of the skin disorders have situational causes while others may be genetic. Some skin conditions are minor and others can be life-threatening.

The rising frequency of disorders requiring surgical treatment, particularly minimally invasive surgery (MIS), will aid the dermatology devices market growth in future. Furthermore, the increasing frequency of skin problems, which necessitates the use of dermatological devices to manage the condition, is expected to propel the market to gain higher revenue shares. The rising prevalence of illnesses, such as psoriasis, acne, and other skin problems, is expected to boost the market revenue during the forecast period. Increased healthcare spending, which can be used to treat skin disorders, would aid the market growth during the forecast period. Furthermore, the increased need for cosmetic improvement, which necessitates the use of dermatological equipment, propels the market expansion. Higher prices for dermatology equipment, on the other hand, will stifle the market expansion. Furthermore, the increased potential of dermatological devices in emerging countries is projected to aid the market in creating more chances in the coming years.

Attributed to the COVID-19 pandemic, healthcare workers, equipment, and facilities have been moved to cope with the rising number of patients with COVID-19. The pandemic caused major impediments in pharmaceutical and medical supply chains globally. This is expected to hinder the growth of the dermatology devices market during the forecast period. The increase in awareness regarding the need to avoid hospital acquired infections and risk of exposure to COVID-19 during the pandemic is anticipated to hinder the number of surgical aesthetic procedures, consequently decreasing the growth of the dermatology devices market during the forecast period. Furthermore, ban on import and export hindered the growth of the dermatology devices market in the commenced period.

The global dermatology devices market is segmented on the basis of product type, application, end user, and region. On the basis of product type, the market is categorized into diagnostic devices and treatment devices. In addition, the diagnostics devices segment is further divided into imaging devices, dermatoscope, and microscope. Furthermore, the treatment devices segment is categorized into electrosurgical, cryotherapy, and laser. By application, it is classified into skin cancer diagnosis, psoriasis, skin rejuvenation, and warts. By end user, it is differentiated into hospitals, clinics, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of product type, the treatment devices segment is expected to gain highest revenue during the forecast period. This is attributed to increase in demand for dermatology devices that help in the management of diseases. In addition, increase in number of surgical procedures using these dermatology devices would drive the market growth in the next few years. However, diagnostic devices are expected to generate significant revenue shares in the dermatology devices market.

Based on application, the skin cancer diagnosis segment is expected to gain highest revenue during the forecast period, owing to increase in incidences of skin cancer, which need early diagnosis. In addition, increasing research on skin cancer diagnosis for combating skin related conditions would help the segment generate higher revenue shares in the near future.

Based on end user, the clinics segment is anticipated to gain the highest revenue during the forecast period, owing to upsurge in number of outpatients preferring clinics. Furthermore, the presence of skilled professionals for performing diagnostics and higher investment of specialty clinics to adopt advanced product types would help the segment gain significant market share in the next few years.

North America is expected to account for a significant share of the global dermatology devices market during the forecast period. The market in the region is anticipated to grow in future, owing to increase in healthcare expenditure and surge in patient population in the region. Major factors that contribute toward growth of the dermatology devices market include increase in incidence of various skin disease and rise in higher healthcare expenditure. In addition, increase in prevalence of conditions, such as psoriasis, acne, and other skin disorders, is anticipated to help the market generate higher revenues during the forecast period. Rise in healthcare spending, which can be used for treatment of skin conditions significantly contribute toward the growth of the North America market. Moreover, ease of availability of dermatology devices, favorable reimbursement policies, and rise in awareness among individuals toward their usage propel the market growth.

Additionally, Asia-Pacific is projected to witness the fastest CAGR and highest revenue during the forecast period, owing to greater patient population and increase in infrastructural development in the region. In addition, increase in number of initiatives and enhanced investments from governments for overall R & D of dermatology devices, and rise in number of product approvals drives the growth of the market. In addition, ongoing innovations in dermatology devices, increase in number of dermatological procedures, availability of advanced healthcare systems, and significant surge in demand for advanced healthcare facilities contribute toward growth of the market. Moreover, surge in focus of leading manufacturers on expanding their geographical presence in emerging Asia-Pacific countries to capture high market share is expected to drive growth of the dermatology devices market in the region.

Key Findings Of The Study

• By product type, the treatment devices segment was the highest contributor to the market.
• By application type, the skin cancer diagnosis segment was the highest contributor to the market.
• By end user, the clinics segment was the highest contributor to the market.
• Asia-Pacific is expected to be the fastest growing region, registering a CAGR of 8.6% during the forecast period.

The key players operating in the global dermatology devices market include Alma Lasers Ltd., Ambicare Health Ltd, Bausch Health Companies Inc., Candela Laser Corp, Canfield Scientific, Inc, Carl Zeiss Meditec Ag, Cutera, Inc., Cynosure, Inc., Heine Optotechnik, Lumenis Ltd