PUBLISHER: The Business Research Company | PRODUCT CODE: 1245082
PUBLISHER: The Business Research Company | PRODUCT CODE: 1245082
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“Dermatology Devices Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dermatology devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dermatology devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The dermatology devices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
* The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
* The impact of higher inflation in many countries and the resulting spike in interest rates.
* The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the dermatology devices market are: Cutera Inc., Lumenis Ltd., Alma Lasers, Solta Medical Inc., Aesthetic Group, Ambicare Health, Image Derm Inc., Johnson & Johnson Private Limited, AMD Global Telemedicine Inc., Cortex Technology, HEINE Optotechnik GmbH & Co. KG, Michelson Diagnostics, Bruker Corporation, Bovie Medical Corporation, Illuco Corporation Ltd., Photomedex Inc., and Applisonix Ltd.
The global dermatology devices market grew from $12.04 billion in 2022 to $14.03 billion in 2023 at a compound annual growth rate (CAGR) of 16.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The dermatology devices market is expected to grow to $23.46 billion in 2027 at a CAGR of 13.7%.
The dermatology devices market consists of sales of lasers, light therapy devices, electrosurgical equipment, liposuction devices, cryotherapy devices, and microdermabrasion devices. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Dermatology devices are the equipment used to research, study, manage, and diagnose the health conditions and affecting the skin, nails, membranes, and fat. It is a branch of medicine that deals with skin-related diseases. Dermatology also includes cosmetic care and enhancement of the skin. The dermatology devices are used for treating skin-related problems.
North America was the largest region in the dermatology devices market in 2022. Asia-Pacific is the second largest region in the dermatology devices market. The regions covered in the dermatology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of dermatology devices are diagnostic devices, treatment devices, and others. Diagnostic dermatology devices are used for diagnosing skin-related problems. Diagnostic devices are the devices that identify the cause or nature of a medical condition. They are used to monitor and diagnose various vital parameters derived from the body. Some of the diagnostic devices include glucometers, bio-signal recording instruments, patient monitoring systems, pulse oximeters, and others. The various applications include skin cancer diagnosis, psoriasis, skin rejuvenation, warts, and others, which are used by several end users, including hospitals, clinics, and others.
The increasing prevalence of skin cancer and other skin diseases is expected to propel the growth of the dermatology devices market going forward. Skin cancer is the uncontrolled proliferation of abnormal cells in the epidermis, the outermost layer of the skin. It is caused by malignant tumors formed from unrepaired DNA damage. Other skin-related diseases include eczema, cold sores, dry skin, acne, and others. In order to remove skin tumors, dermatology devices such as light treatment devices, lasers, and electrosurgical equipment are used. For instance, according to the American Cancer Society, a US-based voluntary health organization, in 2022, around 99,780 new melanoma skin cancer cases were diagnosed and around 7,650 patients died due to melanoma, in the US. Therefore, the growing prevalence of skin cancer and other skin diseases is driving the growth of the dermatology devices market.
Technological advancements have emerged as a key trend gaining popularity in the dermatology device market. Major companies operating in the dermatology devices sector are focused on new technological innovations to sustain their position in the market. For instance, in January 2020, 3Derm Systems, Inc., a US-based company that manufactures dermatology devices, launched 3DermSpot. The 3DermSpot is an algorithm designed to use artificial intelligence (AI) and highly standardized skin images to help in autonomously detecting melanoma, squamous cell carcinoma, and basal cell carcinoma. This helps in the speedy detection of skin cancer.
In May 2021, Allergan Aesthetics, an Ireland-based pharmaceutical company, acquired Soliton's for an undisclosed amount. Through this acquisition, Allergan Aesthetics aims to strengthen its portfolio of body contouring treatments. The new RAP device uses a rapid pulse of acoustics to break the fibrous septa band underneath the skin, which causes cellulite and is used to remove tattoos. The device is also being investigated for the treatment of fibrotic scars. Soliton is an Indian-based company that manufactures medical devices, automotives, and robotics and develops dermatology devices technology.
The countries covered in the dermatology devices market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The dermatology devices market research report is one of a series of new reports from The Business Research Company that provides dermatology devices market statistics, including dermatology devices industry global market size, regional shares, competitors with a dermatology devices market share, detailed dermatology devices market segments, market trends and opportunities, and any further data you may need to thrive in the dermatology devices industry. This dermatology devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.