Dermatology Devices Market Size, Share & Trends Analysis Report By End Use (Clinics, Hospitals), By Product (Diagnostic Devices, Treatment Devices), By Application, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global dermatology devices market size was valued at over USD 12.5 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 11.9% over the forecast period. The increasing prevalence of skin cancer and other skin diseases is contributing largely to the high product demand. Furthermore, the growing awareness among people about the esthetic appeal and technological advancements in dermatology devices are also increasing the adoption of these devices significantly. A rise in disposable income is also considered as one of the important factors driving the market growth. The prevalence of melanoma and non-melanoma skin cancers is rising significantly.

According to The Skin Cancer Foundation, around 10,130 people die due to melanoma every year in the U.S. Furthermore, the American Cancer Society 2018 statistics had stated that, in the U.S., around 91,270 new melanoma cases will 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 COVID-19 pandemic had significantly affected the market. Initially, the lockdown and supply chain disruption had negatively affected the market.

Short-term negative growth was observed in the market due to almost complete suspension of non-COVID-19 related surgeries, limited operations of manufacturing, and disruption in the supply chain. However, the market has seen a V-shape recovery. With the successful rollout of vaccines in all regions, the volume of dermatological devices is beginning to recover to its pre-pandemic levels. In 2021, the market witnessed high demand due to the backlog of 2020 and increased consumer interest & awareness about dermatological procedures. The market witnessed high volatility during the past few months.

However, it is expected to return to its normal growth trend by 2023. In the current scenario, people of all age groups are increasingly concerned about enhancing their esthetic appeal, which will also support the market growth. Complete skin rejuvenation improves the esthetic appeal of a person. 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 in improving one’s overall appearance. Thus, the introduction of technologically advanced non-invasive laser therapies has led to the high demand for dermatology devices.

Product Insights

The treatment devices segment held the largest market share of about 79% in 2021 and is also expected to register the fastest CAGR over the forecast period. This is mainly due to the availability of wide applications of dermatology treatment. In addition, the launch of novel technologies in the laser device category is attributed to the segment growth. The low market share for diagnostic devices can be attributed to lower awareness levels about various novel instruments. However, the rising prevalence of skin cancer is anticipated to drive segment growth in the future.

Among the treatment devices, laser products held the largest share in 2021 and will also record the fastest CAGR over the forecast period owing to the wide usage of laser products. Dermatoscopes dominated the diagnostic devices segment in 2021 due to the availability of advanced technologies. The skin cancer diagnosis is anticipated to show significant growth over the forecast period due to the rise in prevalence of the disease and increasing emphasis on early detection. Laser hair removal devices generated the maximum revenue share in 2021 owing to the huge benefits associated with these devices.

Application Insights

The hair removal treatment application segment held the largest market share of more than 15% in 2021, and will also register the fastest CAGR from 2022 to 2030. The treatment application segment is further segmented into 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, and others. Hair removal devices, particularly laser devices, have been proved to be safer for all skin tones and hair colors and facilitate less painful treatment procedures, thereby propelling the segment growth.

A rise in the demand for cosmetic laser treatments like tattoo removal, skin resurfacing, and skin tightening has significantly increased the adoption of dermatology devices in this segment. According to the International Society of Aesthetic Plastic Surgery, treatments like non-invasive fat reduction witnessed a 21.1% increase, laser hair removal witnessed a 76.1% increase, and photo rejuvenation had a 32.3% increase in 2020 as compared to 2019. This indicates that the demand for aesthetic treatments is increasing and this, in turn, will directly affect the adoption of technologically advanced and efficient dermatology devices, thereby propelling the market growth.

End-use Insights

The hospitals segment held the largest market share of more than 54% in 2021 owing to the wide adoption of advanced dermatology equipment in hospital settings. The availability of various treatment options in such facilities increases the number of visits for skin disease diagnosis and treatments, which, in turn, supports the segment growth. The clinics end-user segment is estimated to register the fastest CAGR from 2022 to 2030. Dermatology clinics are cosmetic and medical facilities that focus on the diagnosis and treatment of skin conditions. In dermatology clinics, both surgical and nonsurgical services are offered by certified plastic surgeons.

According to TripleTree, in 2020, there were 9,000 dermatology practices and 14,000 dermatologists in the U.S. Among the total number of practices, 34% were solo practices and 48% practices included three or more physicians. With the rising need for specialized dermatology treatments, patients tend to visit specialty dermatology clinics for rapid and effective service, which drives the segment growth. Moreover, the global rise in the prevalence of skin cancer and melanoma coupled with an increasing number of clinics offering dermatology services have led to an increase in the number of patients visiting dermatology clinics for treatment and care.

Regional Insights

In 2022, North America accounted for the largest revenue share of more than 43%. The regional market is projected to expand further at a steady CAGR, retaining the dominant position throughout the forecast period. The increasing prevalence of skin cancer and other skin diseases, such as eczema & rosacea, and the growing adoption of cosmetic procedures are some of the major factors contributing to the growth of the regional market. According to the CDC, Acne vulgaris affects 80% of the U.S. population at some time during their lives; 20% of them suffer from severe acne, which can result in permanent physical and mental scarring.

The regional market of Asia Pacific is estimated to register the fastest growth rate from 2023 to 2030. The rapidly growing medical tourism sector in the Asia Pacific due to the availability of affordable treatment options is expected to be the key factor boosting the regional market growth. In addition, a rise in the number of multinational companies investing in research & development in Asia Pacific has also proved to be an important factor driving the regional market. Rising beauty consciousness among consumers is further anticipated to drive the product demand, thereby fueling the regional market growth.

Key Companies & Market Size Insights

The key companies are concentrating on strategic initiatives, such as mergers and acquisitions, new product development, and geographical expansions. For instance, in 2018, Cutera announced the launch of Secret RF, a device intended for effective wrinkle removal, scar diminishing, and collagen remodeling. In November 2021, Lancer Skincare, the premier Beverly Hills-based international skincare brand, teamed up with ByondXR to launch The Virtual Lancer Dermatology Shop. Lancer Skincare’s new virtual store will provide customers with the in-home benefits of a Lancer dermatology practice through a curated, digital experience that moves across the newly growing digitized world.

In August 2021, STRATA Skin Sciences, Inc. completed the acquisition of the U.S. dermatology business of Ra Medical. This acquisition provided STRATA an opportunity to immediately market its full business solution to Ra Medical’s existing customer base of 400 dermatology practices. In October 2019, HEINE launched two new dermatoscopes, the DELTA 30 and DELTAone, which have fully optimized achromatic optical systems that ensure crystal clear images. Some of the key players of the 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.

• Lumenis, Ltd.

• Bausch Health Companies Inc

• Bruker Corporation

• Carl Zeiss

• Genesis Biosystems, Inc.

• Heine Optotechnik GmbH & Co. Kg

• Michelson Diagnostics, Ltd.

• Photomedex, Inc.   

Dermatology Devices Market Report Scope

Global Dermatology Devices Market Report Segmentation

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 2017 to 2030. 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, 2017 - 2030)

  • Diagnostic Devices

    • Dermatoscopess

    • 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, 2017 - 2030)

  • Diagnostic Devices

    • Skin Cancer Diagnosis

    • Other

  • 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 Million, 2017 - 2030)

  • Hospitals

  • Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • The Netherlands

    • Belgium

    • Switzerland

  • Asia Pacific

    • Japan

    • China

    • India

    • Thailand

    • South Korea

    • Indonesia

    • Singapore

    • Malaysia

    • Australia

    • Philippines

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

    • Chile

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

    • Israel

    • Turkey