Dermatology Devices Market Size to Reach USD 16.13 Billion in 2030 | Emergen Research

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Feb 01, 2023, 13:00 ET

VANCOUVER, BC, Feb. 1, 2023 /PRNewswire/ -- The dermatology devices market size reached USD 5.46 Billion in 2021 and is expected to register a CAGR of 12.7% during the forecast period, according to latest analysis by Emergen Research. One key factor driving market revenue growth is rising prevalence of skin disorders. Public health is seriously affected by skin problems. Approximately between 70% and 30% of individuals across the world are affected. Chronic and acute skin problems affecting individuals of every age and socioeconomic backgrounds total more than 3000 in number. In terms of years lost owing to disability, skin conditions came in as the fourth most common non-fatal burden. In the upcoming years, there will thus be a greater need for diagnostics as well as treatment technologies for the treatment of various skin conditions.

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Drivers:

Demand for dermatology devices has significantly increased over the years owing to hi-tech innovations in aesthetic procedures and increasing FDA approvals for such new technologies. For instance, on 19 October 2022, The U.S. Food and Drug Administration (FDA) approved the use of Vivace Ultra, the next generation as well as the future of individualized aesthetics. The device is intended for hemostasis and electrocoagulation operations in general surgical procedures and dermatologic. Furthermore, analysis of pictures of symptoms suggestive and prompt creation of a comprehensive, microscopic image of the skin demonstrates the potential of a new virtual histology technique. It accomplishes this by eliminating a number of commonly utilized processes in diagnosis, such as tissue fixation, skin biopsy, processing, sectioning, and histochemical staining.

Restraints:

There are numerous issues and difficulties facing the dermatology devices industry. Stringent regulatory policies for Medical Devices (MD) are one such factor. For instance, market revenue growth will be impacted by the new Medical Device Regulation (MDR) (Regulation EU 2017/745), which will have a substantial impact on suppliers of MD. The reclassification of medical device applications and software results in tighter regulatory authority supervision plus documentation standards, such as clinical evidence. To the advantage of the patients, the adjustments are expected to improve quality.

Growth Projections:

The dermatology devices market is expected to register a CAGR of 12.7% over the forecast period and revenue is projected to increase from USD 5.46 Billion in 2021 to USD 16.13 Billion in 2030. Devices that can be utilized at home to address dermatologic problems and cosmetic issues are becoming ever more popular. Lasers, intense pulsed light, radiofrequency, ultraviolet B phototherapy, and light-emitting diodes are examples of commercially accessible equipment. Home-based treatments are becoming increasingly popular since they are practical and affordable. Numerous FDA-approved dermatological home care products, a majority of which involve light, are already available on the market as a consequence of high consumer demand. This shift to care provided at home could be accelerated even more by the recent development of teledermatology.

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Current Trends and Innovations:

The dermatology devices industry is undergoing gradual change as a result of new technology and innovations. Dermatologists will soon be able to detect as well as treat skin conditions more accurately and successfully owing to digital technology. The use of lasers to enhance skin texture is one of the important developments currently. It could be accomplished using a variety of laser procedures, including laser hair removal, laser resurfacing, and laser vein therapy. Virtual Reality (VR), Artificial intelligence (AI), and other aesthetic procedures are being used in cosmetic dermatology as technology gets better. VR can be employed to mimic the effects of therapies, AI has the potential to diagnose skin issues and suggest remedies, and cosmetic procedures can be utilized to enhance the appearance of skin.

Strategic Initiatives:

Major companies included in the market report are Alma Lasers, Cutera, Cynosure, Lumenis Be Ltd., Bausch Health Companies Inc., Bruker, ZEISS International, Genesis Biosystems, Inc., HEINE Optotechnik GmbH & Co. KG, Michelson Diagnostics Limited.

On 9 March 2022, Miiskin, a digital skin health platform, made its technology available to university academics for free, fostering digital cooperation in new UK dermatological research. It will make it possible for participants in skin care research to utilize the Miiskin app and communicate with dermatological researchers through a secure online portal to contribute high-resolution skin photographs and other structured patient-reported information.
On 19 May 2022, a multi-target collaboration in medical dermatology was launched by German company Evotec and Spanish skin health expert Almirall. The firm's research and development efforts are focused on finding and creating innovative therapies for severe skin illnesses, including immune-mediated inflammatory diseases like atopic dermatitis and non-melanoma skin cancers like basal cell carcinoma.

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Scope of Research

Report Details	Outcome
Market size in 2021	USD 5.46 Billion
CAGR (2022–2030)	12.7 %
Revenue forecast to 2030	USD 16.13 Billion
Base year for estimation	2021
Historical data	2021–2030
Forecast period	2022–2030
Quantitative units	Revenue in USD Million and CAGR in % from 2022 to 2030.
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends.
Segments covered	Product, application, end-use, region.
Regional scope	North America; Europe; Asia Pacific; Latin America; Middle East & Africa.
Country scope	U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA.
Key companies profiled	Alma Lasers, Cutera, Cynosure, Lumenis Be Ltd., Bausch Health Companies Inc., Bruker, ZEISS International, Genesis Biosystems, Inc., HEINE Optotechnik GmbH & Co. KG, Michelson Diagnostics Limited
Customization scope	10 hours of free customization and expert consultation.

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Emergen Research has segmented dermatology devices market on the basis of product, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019–2030)

Diagnostic Devices

Imaging Devices
Dermatoscopes
Microscopes
Biopsy Devices

Treatment Devices

Light Therapy Devices
Lasers
Electrosurgical Equipment
Liposuction Devices
Microdermabrasion Devices
Cryotherapy Devices

Application Outlook (Revenue, USD Billion; 2019–2030)

Diagnostic Devices

Skin Cancer Diagnosis
Others

Treatment Devices

Hair Removal
Skin Rejuvenation
Acne, Psoriasis, and Tattoo Removal
Wrinkle Removal and Skin Resurfacing
Body Contouring and Fat Removal
Cellulite Reduction
Vascular and Pigmented Lesion Removal
Others

End-Use Outlook (Revenue, USD Billion; 2019–2030)

Hospitals
Clinics
Others

Regional Outlook (Revenue, USD Billion, 2019 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
South Korea
India
Australia
Rest of APAC

Latin America

Brazil
Mexico
Rest of LATAM

Middle East & Africa

UAE
Saudi Arabia
Africa
Rest of Middle East

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