Dermatology Devices Market: Future Revenue Growth Prospects by 2027

Posted March 20, 2024 by mmvaidya01

Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Overview of This Study:

In order to determine the current size of the dermatology devices market, the study comprised four main tasks. In-depth secondary research was conducted to gather data on the market and its various subsectors. The following stage involved conducting primary research to confirm these conclusions, hypotheses, and sizing with industry experts throughout the value chain. A combination of top-down and bottom-up methods was used to assess the overall market size. The market size of the segments and subsegments was then estimated using data triangulation and market breakdown techniques.

Major Growth Driving Factors:

The rising prevalence of skin conditions and growing public awareness of aesthetic procedures are driving growth in this industry. The development of healthcare infrastructure in developing nations is anticipated to present growth prospects for industry participants.

Nonetheless, it is anticipated that concerns over reimbursement and strict regulations pertaining to medical devices may impede the market's expansion.Dermatologists and surgeons can diagnose and treat skin diseases with the aid of dermatology gadgets. Numerous healthcare facilities, including hospitals, dermatology clinics, doctor's offices, and university research centers, use these devices.

Projected Surge in Revneue Generation:

The global dermatology devices market in terms of revenue was estimated to be worth $6.2 billion in 2022 and is poised to reach $11.3 billion by 2027, growing at a CAGR of 12.7% from 2022 to 2027.

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Driver: Growing number of older people are undergoing cosmetic procedures

The aging process is linked to the skin's continual degradation. Consequently, it is anticipated that older people will become more in need of aesthetic procedures such skin tightening and anti-wrinkle treatment.

Restraint: Clinical hazards and difficulties related to procedures in dermatology

Procedures related to dermatology have grown in popularity during the past 20 years. Due to the introduction of cutting-edge products for dermatology treatments and the increase in physicians and surgeons offering secure and efficient care, the industry has seen a notable boom in the demand for aesthetic procedures. However, there are a number of potential negative effects linked to dermatology operations. Aesthetic treatment patients run the risk of developing various problems during or after the surgery.

Opportunity: Increasingly popular non-invasive and minimally invasive aesthetic procedures

The desire for non-invasive and minimally invasive aesthetic operations over traditional surgical procedures has significantly increased during the last ten years. Compared to typical surgical procedures, minimally invasive/non-surgical alternatives provide a number of benefits, including less discomfort, less scarring, and faster recovery. In addition, these procedures are less expensive than conventional surgical methods.

The market for treatment devices, aesthetic lasers, and cosmetic dermatology is being driven by the growing demand for aesthetic operations. In addition to various skin conditions, these lasers are utilized for aesthetic procedures such hair removal, skin rejuvenation, acne, psoriasis, wrinkle removal, tattoo removal, skin resurfacing, vascular lesions, and pigmented lesions.

North America commanded the largest share of the dermatology devices industry.

Based on region, the dermatology devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America has the largest share of the global market. The large share of this regional segment can be attributed to factors such as the rising incidence of skin diseases, increased awareness about aesthetic procedures, rapid increase in healthcare expenditure, easy accessibility to advanced technologies, and the strong presence of market players in the region.

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Global Key Players:

The major players operating in this market are 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), Bruker Corporation (US), Carl Zeiss (Germany), Candela Corporation (US), Genesis Biosystems, Inc. (US), HEINE Optotechnik GmbH & Co. KG (Germany), Michelson Diagnostics Ltd. (UK), PhotoMedex, Inc. (US), Leica Microsystems (a subsidiary of Danaher Corporation) (US), Olympus Corporation (Japan), FotoFinder Systems GmbH (Germany), Canfield Scientific, Inc. (US), Beijing Toplaser Technology Co., Ltd. (China), DermLite (US), Syneron Medical Ltd. (a part of Apax Partners) (US), Aerolase (US), and Bovie (a subsidiary of Symmetry Surgical) (US).

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags dermatology devices , dermatology devices market
Last Updated March 20, 2024