GVR Report cover Dermatology Devices Market Size, Share & Trends Report

Dermatology Devices Market Size, Share & Trends Analysis Report By Product & Application (Diagnostic Devices, Treatment Devices), By End Use (Hospitals, Clinics, Others), And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-1-68038-781-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 106

Report Overview

The global dermatology devices market size was valued at over USD 6.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 19.9% from 2021 to 2028. The increasing prevalence of skin cancer and other skin diseases is contributing largely to the high demand for dermatology devices. Furthermore, growing awareness among people about the esthetic appeal and technological advancements in dermatology devices are boosting the adoption of these devices significantly. A rise in disposable income levels is also considered as one of the important factors driving market growth. However, the esthetics industry witnessed a significant setback due to the COVID-19 pandemic.

U.S.dermatology devices market size, by product, 2018 - 2028 (USD Billion)

The majority of the cosmetic products are not a medical necessity, hence lockdown in several countries led to the temporary closure of several beauty salons & med spas, dermatology clinics, and retail stores. Government officials and hospital administrators across the globe urged healthcare professionals to cancel non-emergency appointments. The prevalence of melanoma and non-melanoma skin cancer is rising significantly.

According to the Skin Cancer Foundation, around 10,130 people die due to melanoma every year in the U.S. Furthermore, American Cancer Society 2018 statistics stated that in the U.S., around 91,270 new melanoma cases are expected to be diagnosed in that year. Meanwhile, the American Academy of Dermatology (AAD) estimated that 1 in 3 Americans visit dermatologists, and 1 in every 4 are affected with skin disease every year. Hence, there is a growing need for rapid diagnosis of skin disorders.

The market is developing rapidly due to growing awareness about esthetics. In the current scenario, people of all age groups are increasingly concerned about enhancing their esthetic appeal. There has been a latent shift from using conventional products to technologically advanced equipment, which aids in better diagnosis and treatment of various skin diseases as well as improves one’s esthetic appeal. The introduction of technologically advanced noninvasive laser therapies has led to high product demand.

Product Insights

The treatment devices segment accounted for the largest revenue share of more than 79% in 2020. The segment is estimated to expand further at the fastest CAGR of over 20% from 2021 to 2028. This high growth is credited to the availability of wide applications of dermatology treatment. In addition, the launch of novel technologies in the laser device category is attributing to the high segment growth. The low market share for diagnostic devices can be attributable to low awareness levels pertaining to the various novel instruments. However, the rising prevalence of skin cancer is anticipated to drive the growth of this segment in the years to come.

Among the treatment devices, laser products held the largest market share in 2020 and are also expected to show the fastest growth rate over the forecast period owing to the wide adoption of these products. On the other hand, dermatoscopes dominated the diagnostic devices segment in 2020 due to the easy availability of advanced technologies in this category. A skin cancer diagnosis is anticipated to show significant growth over the forecast period due to a rise in prevalence of the disease and increasing emphasis on early detection. Laser hair removal devices generated the maximum revenue share in 2020 owing to the high awareness about the benefits associated with these devices.

End-use Insights

The hospitals segment held the largest revenue share in the global market of more than 54% in 2020. The segment is estimated to expand further at a steady CAGR from 2021 to 2028 retaining its leading industry position. This growth can be credited to the presence of advanced dermatology equipment in hospital settings. In addition, the availability of various treatment options in hospital settings has increased the number of visits for skin disease diagnosis and treatments in these facilities.

Global dermatology devices market share, by end use, 2020 (%)

On the other hand, the clinics segment is projected to record the fastest CAGR of more than 20% from 2021 to 2028. With the rising need for specialized dermatology treatments, patients tend to visit specialty dermatology clinics for rapid and effective service, which has led to the high growth of the clinics segment. Moreover, the rise in prevalence of skin cancer and melanoma coupled with the increasing number of clinics offering dermatology services across the globe has led to an increase in the number of patients visiting dermatology clinics for treatment and care.

Regional Insights

In terms of revenue, North America accounted for the largest share of over 42% in 2020 and will expand further at a steady CAGR from 2021 to 2028. The increasing prevalence of skin cancer and other skin diseases, such as eczema & rosacea, and rising adoption of cosmetic procedures are some of the major factors contributing to the market growth in this region. On the other hand, Asia Pacific is estimated to be the fastest-growing regional market from 2021 to 2028.

The rapid growth of the medical tourism sector in Asia Pacific due to affordable treatment options is expected to drive product demand in this region, thereby augmenting the market growth. In addition, a rise in the number of major multinational companies investing in research & development has been proved to be a major factor supporting the growth of the regional end-use industries, which, in turn, will fuel the market growth in Asia Pacific. The rising beauty consciousness among men and women alike is also anticipated to drive the regional market.

Key Companies & Market Size Insights

The key companies are concentrating on strategic initiatives, such as mergers and acquisitions, new product development, and geographical expansions, to gain a competitive edge over rivals and acquire maximum market share. For instance, in 2018, Cutera launched Secret RF, a device intended for effective wrinkle removal, scar diminishing, and collagen remodeling. Some of the key players in the global dermatology devices market include:

  • Alma Lasers GmbH

  • Cynosure, Inc.

  • Solta Medical, Inc.

  • Cutera, Inc.

  • Syneron Medical Ltd.

  • Canfield Scientific, Inc.

  • 3Gen

  • Aesthetic Group

  • Ambicare Health

  • Image Derm, Inc.

Dermatology Devices Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 11.8 billion

Revenue forecast in 2028

USD 42.2 billion

Growth rate

CAGR of 19.9% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

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; MEA

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Switzerland; The Netherlands; Belgium; China; Japan; India; Australia; South Korea; Thailand; Malaysia; Singapore; Indonesia; Philippines; Brazil; Mexico; Argentina; Colombia; Chile; South Africa; Saudi Arabia; UAE; Israel; Turkey

Key companies profiled

Alma Lasers GmbH; Cynosure, Inc.; Solta Medical, Inc.; Cutera, Inc.; Syneron Medical Ltd.; Canfield Scientific, Inc.; 3Gen; Aesthetic Group; Ambicare Health; and Image Derm, Inc.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global dermatology devices market report on the basis of product, application, end use, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Diagnostic Devices

      • Dermatoscopes

      • Microscopes

      • Other Imaging Devices

      • Biopsy Devices

    • Treatment Devices

      • Light Therapy Devices

      • Lasers

      • Electrosurgical Equipment

      • Liposuction Devices

      • Microdermabrasion Devices

      • Cryotherapy Devices

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Diagnostic Devices

      • Skin Cancer Diagnosis

      • Other

    • Treatment Devices

      • Hair Removal

      • Skin Rejuvenation

      • Acne, Psoriasis, & Tattoo Removal

      • Wrinkle Removal & Skin Resurfacing

      • Body Contouring and Fat Removal

      • Cellulite Reduction

      • Vascular and Pigmented Lesion Removal

      • Others

  • End-use Outlook (Revenue, USD Million, 2016 - 2028)

    • Hospitals

    • Clinics

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Switzerland

      • The Netherlands

      • Belgium

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

      • Thailand

      • Malaysia

      • Singapore

      • Indonesia

      • Philippines

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

      • Chile

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

      • Israel

      • Turkey

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