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The dermatology devices market size is estimated to grow at a CAGR of 8.42% between 2022 and 2027. The market size is forecast to increase by USD 1,24,693.13 million. The growth of the market depends on several factors, including the increasing prevalence of skin disorders, growing awareness about skin rejuvenation and other cosmetic treatments, and technological advancements in dermatology devices.
This dermatology devices market report extensively covers market segmentation by end-user (hospitals and clinics), product (treatment devices and diagnosis devices), and geography (North America, Europe, APAC, and Rest of World (ROW). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the dermatology devices market growth is the increasing prevalence of skin disorders. Factors such as the rising incidence of skin diseases such as skin cancer, acne, psoriasis, and eczema, which necessitate effective diagnosis, treatment, and monitoring is significantly contributing to the growth of the global dermatology devices market.
Dermatology equipment is a crucial component for enabling precise diagnoses, customized therapies, and tracking disease development. For instance, laser therapy devices offer precise and targeted treatment options, while improved imaging systems assist in the early diagnosis of skin cancer. Thus, there is an increase in demand for dermatology devices increasing the prevalence of various skin problems, and consumers and healthcare professionals look for effective and cutting-edge treatments. Hence, such factors are expected to drive the global dermatology devices market growth during the forecast period.
A key factor shaping the dermatology devices market growth is telemedicine and remote monitoring. One of the main benefits of the increasing integration of devices with telemedicine platforms includes improved access to dermatological care by enabling remote diagnosis, consultation, and monitoring of dermatological diseases.
As a result, dermatologists can offer remote consultations with patients via telemedicine platforms, hence making it more convenient and minimizing the need for in-person consultations. With the help of several dermatology tools including dermatoscopy, imaging systems, and webcams, dermatologists can remotely inspect and diagnose skin issues using these platforms. Hence, such applications are expected to drive the global dermatology devices market growth during the forecast period.
Stringent regulatory requirements for approvals for dermatology devices are the key challenges hindering the smoothies market growth. One of the significant challenges for dermatologists includes obtaining regulatory approvals for dermatology devices due to the stringent standards set by regulatory bodies.
Some of the crucial parts of the approval; process include clinical trials, significant documentation, and expensive and time-consuming safety evaluations. As a result, new product innovations of dermatology devices are hampered by regulatory clearance delays. Hence, such factors are expected to hinder the global dermatology devices market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Dermatology Devices Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alma Lasers Ltd: The company offers dermatology devices such as Alma Hybrid, Harmony XL Pro and Opus.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The hospital segment is estimated to witness significant growth during the forecast period. Hospitals are one of the major end-user in the global dermatology devices market. For instance, to identify and treat a variety of skin disorders, hospitals have specialized dermatology departments with cutting-edge equipment.
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The hospital segment was the largest segment and was valued at USD 115,826.53 million in 2017. Some of the key factors driving the need for dermatology equipment are hospitals and various patient populations, which include individuals in need of specialized dermatological care. Additionally, hospitals have enough financial resources and infrastructure to keep up with the developments in technology. Some of the renowned medical facilities which use dermatology devices to give patients comprehensive care include Mayo Clinic, Cleveland Clinic, Massachusetts General Hospital, and Johns Hopkins Hospital. Factors such as rising R and D activities, growing healthcare infrastructure, and the adoption of innovative dermatology diagnostic devices are expected to fuel the growth of the global dermatology devices market during the forecast period.
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Europe is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Another region offering significant growth opportunities to vendors is North America. One of the significant reasons for the growth of the global dermatology devices market in North America is the increase in the geriatric population and a high prevalence of chronic and infectious skin diseases that have increased the demand for diagnostic products and services in this region. Also, there is a growing popularity of dermatology diagnostic tests among the geriatric population has increased the sales of dermatology devices in the US, which has also significantly contributed to the growth. Hence, such factors are expected to fuel the growth of the global dermatology devices market in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global dermatology devices market witnessed a significant slowdown due to the postponement of several dermatological treatments, and disruptions of supply chains severely affected operations in clinics and hospitals. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the restoration of operations in healthcare units. Such factors are expected to drive the market during the forecast period.
The dermatology devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global dermatology devices market as a part of the global healthcare equipment market. The parent global healthcare equipment market covers products and companies engaged in research and development (R and D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Dermatology Devices Market Scope |
|
Report Coverage |
Details |
Page number |
146 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.42% |
Market growth 2023-2027 |
USD 124,693.13 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.0 |
Regional analysis |
North America, Europe, APAC, and the Rest of the World (ROW) |
Performing market contribution |
Europe at 35% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Aerolase Corp., Aesthetic Group, Alma Lasers Ltd., Bausch Health Co. Inc., Bruker Corp., Candela Corp., Canfield Scientific Inc., Carl Zeiss Stiftung, Cutera Inc., Cynosure LLC, DermLite LLC, FotoFinder Systems GmbH, HEINE Optotechnik GmbH and Co. KG, Image Derm Inc., Lumenis Be Ltd, Merz Pharma GmbH and Co KGaA, Michelson Diagnostics Inc., Photomedex Inc., and Sihuan Pharmaceutical Holdings Group Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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