Dermatology Devices Market to exceed $17 bn by 2024
Dermatology Devices Market size is set to exceed USD 17 billion by 2024; according to a new research report by Global Market Insights.
Growing occurrence of skin cancer as well as surging number of skin cancer new cases are factors driving dermatology devices market growth. Increasing disposable income and increasing awareness of skin disorders coupled with growing spending on treatment of skin problems are aspects rendering positive impact. Surging demand for cosmetic procedures and availability of advanced treatment boosts industry growth.
Dermatology Devices Market
Laser dermatology is used extensively for both medical and aesthetic conditions. Three broad groups of technology are foremost non–energy-based rejuvenation technologies. These include lasers, thermal tightening devices that are non–laser-based and light therapy. Additionally, light source and laser treatment target most skin conditions that are common and advances in technology of lasers as well as light source is anticipated to fuel dermatology devices market growth in foreseeable future.
Changing lifestyle, rising consumption of unhealthy food along with changing environmental conditions cause many skin problems that require timely diagnosis and cure. Such factors increase the demand for dermatologic diagnosis and treatment. High cost of dermatology equipment and related maintenance contracts hampers dermatology devices market growth. Stringent regulatory landscape to ensure safe use of dermatology medical devices hinders business growth.
Diagnostic devices held more than 55% of industry revenue share in 2017 due to growing incidence of skin cancer and rising need for early disease detection. Technologically advanced dermatology devices and availability of such high-tech devices for treatment and diagnosis further propels business growth. Moreover, non-invasive dermatology devices that diagnose individuals skin condition encourages patient’s preference.
Skin rejuvenation segment is projected to grow significantly over the coming years. The growth attributes to increasing cosmetic procedures demand and advancements taking place in lasers. In addition to, skin rejuvenation also reduces acne scars appearance, stimulates production of new elastin and collagen.
U.S. Dermatology Devices Market, By Product Type, 2013 – 2024 (USD Billion)
Liposuction devices segment will grow substantially during the forecast timeline due to advanced technology such as, radiofrequency assisted, suction assisted lipectomy coupled with rising demand for cosmetic procedures.
UK dermatology devices market was valued at USD 450 million in 2017 and anticipated to witness robust growth over the forecast period. Growth attributes to increasing occurrence of skin cancer as well as skin diseases. According to the Cancer Research UK statistics, during 2013-2015, approximately 15,400 melanoma skin cancer new cases in UK every year were recorded that accounts for nearly 42 cases every day.
China is anticipated to witness over 11% CAGR over the forecast years due to rising expenditure on skin care treatments and increasing prevalence of acne and other skin ailments. Advances in technology and rising awareness of skin problems is projected to fuel business growth.
Some of the key industry players in global dermatology devices market are 3Gen, Aesthetic Group, Alma Lasers, ALSA Apparecchi Medicali Srl, Ambicare Health, Amd Global Telemedicine, Beijing Toplaser Technology Company, Biolitec, Brymill Cryogenic Systems, Cortex Technology, Cutera, Dansys, Ellipse, Genesis Biosystems, Heine Optotechnik, Hologic, Human med, Image Derm, Lumenis, Michelson Diagnostics (VivoSight), PhotoMedex, Solta Medical (Valeant Pharmaceuticals International) and Syneron Medical.
The industry players emphasize on launch of enhanced dermatology devices and acquisitions. For instance, in September 2015, Solta Medical launched Clear + Brilliant pelo that is a new device with linear scanning technology for laser hair removal. Moreover, launch of this device also joins portfolio of Solta Medical’s solutions with German Medical Engineering (GME), that develops aesthetic energy devices.
Source: https://www.gminsights.com/pressrelease/dermatology-devices-market
