Dermatology Devices Market: Rising Demand for Non-invasive Dermatological Procedures Boosting Market Growth: Global Industry Analysis and Opportunity Assessment, 2016-2026
LONDON, Jan. 17, 2017 /PRNewswire/ — Dermatology devices comprise lasers, RF devices, microdermabrasion devices, and other related accessories. These devices are installed in hospitals and dermatology clinics to assist physicians and non-physician clinicians to treat skin diseases and are also used to diagnose skin cancer. In terms of revenue, the global dermatology devices market is projected to register a CAGR of 7.0% during the forecast period and is expected to be valued at US$ 5,307.6 Mn by the end of 2026.
Rising demand for non-invasive dermatological procedures and increasing aesthetic awareness are factors boosting the adoption of dermatology devices globally
Growth of the global dermatology devices market is primarily driven by increasing prevalence of skin problems including acne leading to scars, growing demand for at-home devices, and significant increase in non-invasive liposuction procedures along with a growing obese population. The global market for dermatology devices is expected to witness a significant growth rate in terms of value owing to an increasing aesthetic awareness, increasing fashion consciousness, and the growing demand for non-invasive cosmetic correction procedures. Moreover, growing healthcare expenditure, increasing geriatric population, and rising disposable income is creating high potential growth opportunities for players operating in the global dermatology devices market.
However, high costs of dermatological treatments, side effects related to dermatological treatments, and uncertainty related to U.S. Healthcare reforms might hinder market growth over the forecast period (2016 – 2026).
By Product Type
– Alexandrite laser
– Potassium Titanyl Phosphate (KTP)
– RF Devices
– Microdermabrasion Devices
– Vascular Lesions
– Tattoo Removal
– Hair Removal
– Wrinkle Removal
– Scar Removal
– Acne Removal
By End User
– Specialty Dermatology Clinics
– Private Clinics
– North America
– Latin America
– Western Europe
– Eastern Europe
Lasers product type segment expected to dominate the market by 2016 end, due to an increasing application in cosmetic correction procedures
In terms of revenue share, the Lasers segment dominated the global dermatology devices market in 2015 and is expected to dominate throughout the forecast period, registering a higher CAGR over the forecast period. The RF Devices segment is expected to witness a CAGR of 6.6% in terms of value over the forecast period.
Vascular Lesions application segment anticipated to hold high market share through 2026
The Vascular Lesions segment held maximum share in 2015 and is expected to continue its dominance throughout the forecast period. The Tattoo Removal segment is anticipated to reach US$ 943.9 Mn by 2026 owing to an increase in awareness among people regarding the health hazards caused by tattoo ink at later stages of life.
Specialty Dermatology Clinics end user segment has been growing owing to an increasing preference for specialists for cosmetic correction treatments
The Speciality Dermatology Clinics segment is estimated to account for 36.2% revenue share of the global dermatology devices market by 2016 end. Number of patients preferring private clinics over hospitals has been increasing over the years, as additional costs such as management costs are not associated with private clinics.
North America is expected to dominate the global market by 2016 end
The North America regional market is anticipated to account for 22.6% revenue share of the global dermatology devices market by 2016 end and is expected to gain in terms of market share due to increase in skin disorders, skin cancer, and a growing preference for cosmetic surgeries. In terms of value, Eastern Europe is expected to register the highest CAGR of 8.6% over the forecast period.
Dermatology devices manufacturers are likely to target APEJ and MEA markets through mergers with established local players in the laser and RF devices market to increase their customer base
Valeant Pharmaceuticals International Inc., Cynosure Inc., Lumenis, Syneron Candela Ltd., Avita Medical Ltd., Shanghai Fosun Pharmaceutical Group Co. Ltd., Cutera, Lutronics Corporation, and Beijing Toplaser Technology Co. Ltd. are some of the top companies operating in the global dermatology devices market.
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