VANCOUVER, BC, Feb. 1, 2023 /PRNewswire/ -- The dermatology devices market size reached USD 5.46 Billion in 2021 and is expected to register a CAGR of 12.7% during the forecast period, according to latest analysis by Emergen Research. One key factor driving market revenue growth is rising prevalence of skin disorders. Public health is seriously affected by skin problems. Approximately between 70% and 30% of individuals across the world are affected. Chronic and acute skin problems affecting individuals of every age and socioeconomic backgrounds total more than 3000 in number. In terms of years lost owing to disability, skin conditions came in as the fourth most common non-fatal burden. In the upcoming years, there will thus be a greater need for diagnostics as well as treatment technologies for the treatment of various skin conditions.
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Demand for dermatology devices has significantly increased over the years owing to hi-tech innovations in aesthetic procedures and increasing FDA approvals for such new technologies. For instance, on 19 October 2022, The U.S. Food and Drug Administration (FDA) approved the use of Vivace Ultra, the next generation as well as the future of individualized aesthetics. The device is intended for hemostasis and electrocoagulation operations in general surgical procedures and dermatologic. Furthermore, analysis of pictures of symptoms suggestive and prompt creation of a comprehensive, microscopic image of the skin demonstrates the potential of a new virtual histology technique. It accomplishes this by eliminating a number of commonly utilized processes in diagnosis, such as tissue fixation, skin biopsy, processing, sectioning, and histochemical staining.
There are numerous issues and difficulties facing the dermatology devices industry. Stringent regulatory policies for Medical Devices (MD) are one such factor. For instance, market revenue growth will be impacted by the new Medical Device Regulation (MDR) (Regulation EU 2017/745), which will have a substantial impact on suppliers of MD. The reclassification of medical device applications and software results in tighter regulatory authority supervision plus documentation standards, such as clinical evidence. To the advantage of the patients, the adjustments are expected to improve quality.
The dermatology devices market is expected to register a CAGR of 12.7% over the forecast period and revenue is projected to increase from USD 5.46 Billion in 2021 to USD 16.13 Billion in 2030. Devices that can be utilized at home to address dermatologic problems and cosmetic issues are becoming ever more popular. Lasers, intense pulsed light, radiofrequency, ultraviolet B phototherapy, and light-emitting diodes are examples of commercially accessible equipment. Home-based treatments are becoming increasingly popular since they are practical and affordable. Numerous FDA-approved dermatological home care products, a majority of which involve light, are already available on the market as a consequence of high consumer demand. This shift to care provided at home could be accelerated even more by the recent development of teledermatology.
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Current Trends and Innovations:
The dermatology devices industry is undergoing gradual change as a result of new technology and innovations. Dermatologists will soon be able to detect as well as treat skin conditions more accurately and successfully owing to digital technology. The use of lasers to enhance skin texture is one of the important developments currently. It could be accomplished using a variety of laser procedures, including laser hair removal, laser resurfacing, and laser vein therapy. Virtual Reality (VR), Artificial intelligence (AI), and other aesthetic procedures are being used in cosmetic dermatology as technology gets better. VR can be employed to mimic the effects of therapies, AI has the potential to diagnose skin issues and suggest remedies, and cosmetic procedures can be utilized to enhance the appearance of skin.
Major companies included in the market report are Alma Lasers, Cutera, Cynosure, Lumenis Be Ltd., Bausch Health Companies Inc., Bruker, ZEISS International, Genesis Biosystems, Inc., HEINE Optotechnik GmbH & Co. KG, Michelson Diagnostics Limited.
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Scope of Research
Market size in 2021
USD 5.46 Billion
Revenue forecast to 2030
USD 16.13 Billion
Base year for estimation
Revenue in USD Million and CAGR in % from 2022 to 2030.
Revenue forecast, company ranking, competitive landscape, growth factors, and trends.
Product, application, end-use, region.
North America; Europe; Asia Pacific; Latin America; Middle East & Africa.
U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA.
Key companies profiled
Alma Lasers, Cutera, Cynosure, Lumenis Be Ltd., Bausch Health Companies Inc., Bruker, ZEISS International, Genesis Biosystems, Inc., HEINE Optotechnik GmbH & Co. KG, Michelson Diagnostics Limited
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Emergen Research has segmented dermatology devices market on the basis of product, application, end-use, and region:
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