The global market for dermatology devices has been envisaged to be valued over US$ 1,000 Mn in terms of revenue by the end of the forecast period (2017-2022), expanding at a steady CAGR. Increasing installation of dermatology devices across dermatology clinics and hospitals has helped assist physicians in treatment of skin disorder and in early detection and diagnosis of skin cancer such as melanoma.
Radiofrequency electrosurgery devices are expected to record the highest sales over other dermatology devices during the forecast period, accounting for more than one-third share of the market revenue. Increasing demand for dermatological treatments along with rising geriatric populations may contribute to the high adoption of these devices.
Ultrasonic surgery devices are foreseen to contribute the lowest share of the dermatology devices market in terms of revenue.
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Technologically Advanced Solutions Gain Momentum as Potential Factor to Surge Product Adoption
Skin-related diseases have been growing in prevalence across the globe. According to ‘The Skin Care Foundation’, over 10,000 individuals died due to melanoma in 2016, which led to many efforts to lower such high rates of mortality. Today, dermatology devices including dermatoscopes, laser-based devices, and RF devices find application in the treatment of various types of skin diseases. Dermatoscopes are gaining increasing adoption in clinics and hospitals for detecting melanoma through the evaluation of pigmented lesions.
In the recent times, technological advances are also seen in dermatology devices, for instance – use of light therapy and laser instruments have led to improvements in the aesthetic appeal of people. In addition, power- and vibration-assisted liposuction devices are increasingly used in fat removal procedures, while advanced liposuction equipment have improved different body contouring treatments. Such developments are expected to guide the future expansion of global dermatology devices market.
North America to Reign Supreme over other Regional Markets for Dermatology Devices
With increasing rates of melanoma over the last 30 years in the United States as reported by the American Cancer Society, dermatology devices market in North America will possibly continue to witness a significant growth, retaining its superiority in the global scenario. More availability of advanced treatment and surgical procedures may also contribute to the consolidation of dermatology devices market in the region.
Although Europe is expected to remain the second most lucrative market for dermatology devices after North America, the sales growth may be slightly lower than Asia Pacific Excluding Japan (APEJ) which is anticipated to represent the fastest expansion during the forecast period.
Based on application, dermatology devices are likely to find largest adoption in the hair removal procedures owing to rising spending capabilities of consumers, especially in emerging economies. Second largest application of dermatology devices is expected to remain consolidated in stretch marks reduction over the market assessment period.
Hospitals will continue to remain superior among end-users of dermatology devices with advanced infrastructure and improved services in these segments. Sales of these devices is expected to witness the highest growth in dermatology clinics during the forecast period.
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Global Dermatology Devices Market: Competitive Landscape
Leading players operating in the global market for dermatology devices have been profiled in the report including Erbe Elektromedizin GmbH, AngioDynamics, Inc., Johnson & Johnson Private Limited, Heal Force Bio-meditech Holdings Limited, Alma Lasers, Cynosure, Inc., Bovie Medical Corporation, B. Braun Melsungen AG, Smith and Nephew CoMedtronic Plc, and Cutera, Inc.