Dermatology devices are used to treat increasing cases of age-related vascular/dermal lesions, skin tightening, skin resurfacing and pigmented skin. People prefer dermatology treatment as these are non-invasive procedures requiring lesser time, cost effective as compared to surgeries, and offering better results
The global dermatology devices market is estimated to account for US$ 4,609.0 Mn in terms of value in 2020 and is expected to reach US$ 7,226.9 Mn by the end of 2027.
Global Dermatology Devices Market: Drivers
High prevalence of acne is expected to propel growth of the global dermatology devices market over the forecast period. For instance, according to the American Academy of Dermatology 2018 report, acne is the most common skin condition in the U.S. affecting around 50 million peoples annually, which is expected to propel growth of the dermatology devices market.
Global Dermatology Devices Market: Opportunities
High prevalence of skin cancer is expected to offer lucrative growth opportunities for players in the global dermatology devices market. For instance, according to Incidência de Câncer no Brasil, the estimated number of new cases of cancer was 600,000, excluding cases of non-melanoma skin cancer during 2018-2019 biennium, in Brazil.
Global Dermatology Devices Market: Restraints
Side effects related to dermatological treatments are expected to hinder growth of the global dermatology devices market. A range of side effects are linked with non-invasive dermatological treatments, as these treatments work differently on different skin types. Though most of the side effects associated with these treatments heal in a short period of time, some might also lead to serious complications, based on the skin texture and pigmentation. For dark skin tone, absorption of excess laser light can result in skin discoloration and blistering. Complications associated with skin resurfacing treatment include prolonged erythema, acne formation, hyperpigmentation, hypertrophic scar formation, ectropion and disseminated infection.
The global dermatology devices market market was valued at US$ 4,304.3 Mn in 2019 and is forecast to reach a value of US$ 7,226.9 Mn by 2027 at a CAGR of 7.7% between 2020 and 2027. Major factor driving the growth of global dermatology devices market during the forecast period include technological advancement, and increasing prevalence of skin diseases.
Laser type held dominant position in the global dermatology devices market in 2019, accounting for 40.1% share in terms of value, followed by IPL and RF devices, respectively. Lasers are primary product that is used in the dermatology devices which is supporting growth of the segment.
Major players in the global dermatology devices market are focused on launching new products to expand their product portfolio. For instance, in April 2019, Lumenis, Ltd., an energy-based medical device company for aesthetic, surgical and ophthalmic applications, launched the Legend Pro+, a multi-application platform powered by four clinically-proven, complimentary technologies.
Major players in the global dermatology devices market are also focused on R&D to expand their product portfolio. For instance, in November 2019, AVITA Medical collaborated with the Gates Center for Regenerative Medicine at the University of Colorado School of Medicine to establish proof-of-concept and explore further development of a spray-on treatment of genetically modified cells for patients with epidermolysis bullosa (EB) and other genetic skin disorders.
Global Dermatology Devices Market: Competitive Landscape
Major players operating in the global dermatology devices market include, Valeant Pharmaceuticals International Inc., Lumenis, Ltd., Hologic, Inc., Syneron Candela Ltd., Avita Medical Ltd., Alma Lasers, Ltd., Lutronics Corporation, Beijing Toplaser Technology Co. Ltd., Shanghai Fosun Pharmaceutical Group Co. Ltd., and Cutera, Inc.
Global Dermatology Devices Market: Key Developments
Major players in the global dermatology devices market are focused on launching new products to expand their product portfolio. For instance, in January 2020, Lumenis Ltd. launched LightSheer Quattro, a laser hair removal platform.
Similarly, in 2019, Sanara MedTech Inc. launched its Wound Irrigation and Debridement System to remove biofilms while simultaneously debriding wounds with less patient discomfort.
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