REPORT HIGHLIGHT
The dermatology devices market was valued at USD 11.69 billion by 2019, growing with 13.7% CAGR during the forecast period, 2020-2026.

Dermatology devices are designed for the treatment of skin related problems such as acne, atopic dermatitis, nail fungus, and psoriasis. These devices aim to enhance skin appearance thereby, the demand mainly among the female population.

Market Dynamics

The prevalence of skin cancers is rising significantly which is expected to foster the growth of the dermatology devices market. For instance, according to the American Institute for Cancer Research (AICR) suggested that melanoma is the most common type skin cancer. In 2020, the organization reported over 100,350 new cases of melanoma in the U.S. Such growing cases of skin cancer would, in turn, boost the demand for dermatology devices, driving the industry growth. Moreover, rising concerns and awareness about the skincare routine are expected to increase the demand for the Dermatology devices market over the forecast period.

Advancement in technologies is another potential driving factor for industry growth. Healthcare and pharmaceutical companies are diagnosing the advantages offered by artificial intelligence (AI) based devices to enhance its product offerings in the dermatology segment. Moreover, the adoption of cloud-based technology is increasing which is supporting the market development to a certain extent. In addition, it is noted that companies are actively investing in developing wearable devices as consumers’ are more inclined towards using wearable dermatology devices. For instance, in October 2018, Leo Science & Tech Hub merged with Wearifi, Inc. The merger aims to develop the world’s smallest battery-free wearable devices. Likewise, in June 2018, Sunflower Dermatology along with Medical Day Spa launched a wearable device that helps consumers to track sun exposure. On the contrary, high product costs will hamper market growth to some extent.

Product Takeaway

In terms of products, the worldwide dermatology devices industry is categorized into diagnostic and treatment devices. Diagnostic devices are further bifurcated as dermatoscopes, biopsy devices, and microscopes. Whereas, treatment products are sub-segmented into lasers, electrosurgical equipment, light therapy devices, microdermabrasion devices, liposuction devices, and cryotherapy devices.

Among all these products, laser treatment devices accounted for the majority of market share in 2019. The product demand is majorly attributed to the growing demand for anti-aging and hair removal devices among the female population. Moreover, major manufacturers are developing new treatment devices which will further boost the segment growth. For instance, in December 2018, Luma Therapeutics launched light-based treatment for plaque psoriasis at home. The new device offers smartphone-controlled features and thereby, reduces psoriasis symptoms. On the contrary, products such as biopsy and microdermabrasion devices are projected to grow with a promising growth rate over the study period.

Application Takeaway

Based on application, the overall market is broadly viewed as a skin cancer diagnosis, hair removal, acne-psoriasis & tattoo removal, skin rejuvenation, body contouring & fat removal, wrinkle removal and skin resurfacing, vascular and pigmented lesion removal, and cellulite reduction. Skin rejuvenation application dominated the overall dermatology device market in 2019 and is likely to continue its dominance throughout the study period. This dominance is led by new and advanced product launches by major players. For instance, in April 2019, Lonza launched a new device for skin rejuvenation. The H2OBioEV moisturizes the skin thereby, provides a radiant and smooth appearance.

End-Use Takeaway

By end-use, the global market is categorized into hospitals and clinics. Hospitals dominated the overall dermatology devices market in 2019 due to the presence of advanced technology-based equipment. On the other hand, hand-held dermatology devices are expected to grow at the highest rate over the forecasted period due to rising trends of portable and hand-held devices.

Regional Takeaway

Regionally, the overall dermatology devices market is divided into North America, Middle East & Africa, Asia Pacific, Latin America, and Europe. The North America market for dermatology devices registered for the majority of share in 2019 owing to the rising cases of skin disorders in the region. For Instance, The American Academy of Dermatology suggests that over 50 million Americans suffer from acne related problems and around 7.5 million people in the U.S. suffer from psoriasis. Moreover, due to rising trends for digital treatment and consultation, major manufacturers are also developing and opting for a digital mode which is one of the key factors driving the growth of the market. For instance, in February 2020, Bausch Health Companies, Inc. launched a new telemedicine platform. The Dermatology.com is a cash-pay and non-reimbursed program that is being developed in the U.S. The Dermatology.com offer patients to consult heath professional and also allows receiving of prescription.

On the other hand, the Asia Pacific is anticipated to be the fastest-growing region over the forecast owing to the rising beauty concerns among consumers in the region. In addition, increasing investment by the government in the healthcare industry also drives the dermatology devices market. For Instance, in May 2020, India invites US $700 billion investment in the medical device sector. The business trade collaboration between Japan and India will further boost the relationship between the counties and thereby, also increase the demand for dermatology devices in the region.

COVID-19 Impact

The Dermatology device market will witness decline due to the sudden outbreak of COVID-19 all over the globe. Prior to the condition of COVID-19 pandemic includes rising disposable income and rising in the standard of living but due to the pandemic and global economy outbreak, the growth of dermatology device is declining. Additionally, due to the lockdown situation global skincare device manufacturing had shut down their production units. Consumers are changing their buying behavior due to the current situation and are limiting public gatherings and public areas. Thereby, limits the growth of the dermatology devices market.

Key Vendor Takeaway

The leading players of the global dermatology devices market include Syneron Medical Ltd., Canfield Scientific, Inc., Alma Lasers, Cynosure, Solta Medical, Cutera, Inc., 3Gen, Inc., Image Derm, Aesthetic Group, and Ambicare Health.

Companies are actively involved in strategic mergers, partnerships, acquisitions, and are actively launching new products in the market to capture a large customer base. For Instance, In January 2020, Alma Inc. launched a new aesthetic platform named “Opus”. This modern aesthetic platform features the company’s proprietary “Opus Plasma”, a high-frequency unipolar radiofrequency technology. This platform represents a level of energy-based devices that can address localized or global textural and skin quality concerns.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2015 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2026
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

DERMATOLOGY DEVICES MARKET KEY PLAYERS

Syneron Medical Ltd.
Alma Lasers GmbH
Cutera Inc.
3Gen, Inc.
Aesthetic Group
Ambicare Health
ImageDerm
Canfield Scientific
Solta Medical, Inc.
Cynosure, Inc.
DERMATOLOGY DEVICES MARKET, BY PRODUCT

Diagnostic Devices
Biopsy Devices
Dermatoscopes
Microscopes
Treatment Devices
Cryotherapy Devices
Microdermabrasion Devices
Lasers
Light Therapy Devices
Electrosurgical Equipment
Liposuction Devices
DERMATOLOGY DEVICES MARKET, BY APPLICATION

Diagnostic Devices
Skin Cancer Diagnosis
Treatment Devices
Cellulite Reduction
Hair Removal
Acne, Psoriasis & Tattoo Removal
Body Contouring & Fat Removal
Skin Rejuvenation
Wrinkle Removal & Skin Resurfacing
Vascular & Pigment Lesion Removal
Others
DERMATOLOGY DEVICES MARKET, BY END-USE

Hospitals
Clinics
Others
DERMATOLOGY DEVICES MARKET, BY REGION

North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA