The global Dermatology Devices market size was estimated at USD 6.4 billion in 2022 and is expected to surpass around USD 18.3 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 15.7% during the forecast period 2022 to 2030. Dermatology devices help dermatologists and surgeons in diagnosing and treating skin disorders. These devices are used by various medical care providers, such as hospitals, dermatology clinics, physician offices, and academic research institutes. The rising incidence of skin diseases and increasing awareness of aesthetic procedures are the primary growth drivers for the dermatology devices market. The expansion of healthcare infrastructure in developing regions is expected to provide growth opportunities to players operating in this market. However, reimbursement issues and stringent regulatory policies for medical devices are estimated to restrain the growth of this market.
Report Scope of the Dermatology Devices Market
COVID -19 IMPACT
The COVID-19 pandemic significantly affected the dermatology devices market. The beauty and luxury sector faced challenges in its manufacturing and supply chain, such as delivering products to end-users in a timely manner as well as attending to an uneven demand for products and services. The market faced a period of short-term negative growth, which was attributed to factors such as a decline in the product demand from key end-users, limited operations in most of the industries, temporary closure of key end-user facilities (including beauty centers and spas), disrupted supply chains, and challenges in terms of providing essential/post-sales services due to lockdowns.
The global spread of COVID-19 led to the complete suspension of elective surgeries, especially in the most-affected countries. Some regions witnessed up to a 70% reduction in the number of patients seeking aesthetic treatments from January 2020 onwards. In addition, in some regions, clinics were voluntarily shut down to protect their staff from COVID-19. The pandemic also resulted in a major impact on the income levels of the population. Considering this, several prospective patients changed their priorities and put on hold their plans of undergoing aesthetic procedures, at least in the short term.
As per a survey conducted among 1,360 aesthetic practitioners in the UK, it was found that almost 100% of businesses had been affected by the pandemic (Source: April 2020, Hamilton Fraser Cosmetic Insurance). Among these, 49% of the aesthetic practitioners claimed that they find it risky to perform procedures post lockdown, as the threat of getting affected still continues.
The outbreak of COVID-19 negatively impacted the dermatology devices market in 2020. Between 2019 and 2020, Cutera, Inc. registered a decrease of 18.7% in its revenue, Lumenis, Ltd. (a subsidiary of Boston Scientific) registered a decrease of 8% in its revenue, while Bruker Corporation registered a decrease of 4% in its revenue.
Companies with manufacturing bases in the US and China have been particularly affected by the pandemic. Despite the challenging situation, industries are gradually recovering from the impact of the pandemic. Also, as supply and distribution channels are beginning to open up, business operations are likely to rise at a slow and steady rate in the near future. However, there remains a need to not only strategize better recovery plans but also to introduce more efficient and sustainable reforms to address similar situations in the long run. Besides ensuring a strong foothold in the rapidly shifting competitive dynamics, companies must focus on devising proactive strategies with risk mitigation plans to minimize the impact on overall productivity and efficiency.
Market Dynamics
Driver: Rising adoption of aesthetic procedures among geriatric individuals
The global population of individuals aged 60 years and above is expected to increase from 880 million in 2011 to 2.1 billion by 2050, representing 22% of the world’s population (Source: UN Population Division). The process of aging is associated with progressive deterioration of the skin. Subsequently, the demand for aesthetic procedures, such as anti-wrinkle treatment and skin tightening, is expected to grow among the elderly.
According to the American Society for Aesthetic Plastic Surgery, in 2019, nearly 204,745 liposuction procedures were performed in people aged 51–64 years, and 35,289 procedures were performed in people aged 65 years and above in the US. In 2018, these figures were 225,067 procedures in people aged 51–64 years and 32,573 procedures in people aged 65 years and above. However, in 2020, these figures were 38,389 procedures in people aged 55–69 years and 3,165 procedures in people aged 70 years and above, mainly due to the COVID-19 pandemic. However, the market is recovering now
Growing adoption of minimally invasive and non-invasive aesthetic procedures
In the past decade, there has been a significant increase in the preference for minimally invasive and non-invasive aesthetic procedures over traditional surgical procedures. Minimally invasive/non-surgical alternatives offer various advantages over traditional surgical procedures, such as less pain, reduced scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures.
The increasing demand for aesthetic procedures is driving the market for treatment devices as well as aesthetic lasers and cosmetic dermatology. These lasers are used in aesthetic procedures such as hair removal, skin rejuvenation, acne, psoriasis, tattoo removal, wrinkle removal, skin resurfacing, vascular lesions, and pigmented lesions, among other skin diseases. Lasers with longer wavelengths and better configurations have expanded the range of beauty treatments, making the aesthetic lasers industry a lucrative one. This market is being driven primarily by the more expensive CO2 and YAG laser systems, which can sell for more than USD 50,000 each and have gained tremendous popularity amongst users.
According to the American Society for Aesthetic Plastic Surgery, there were over 15,595,955 surgical and non-surgical cosmetic procedures performed in the US in 2020. Surgical procedures accounted for 13.6% of the total number of procedures performed, with non-surgical procedures making up 87.4% of the total number of procedures. This represented a 15% decrease in the number of aesthetic procedures performed in the US from 2019 to 2020. Moreover, in 2000, there were nearly 6,748,610 cosmetic procedures (surgical and non-surgical) performed in the US. Some highlights of this data include:
According to the American Society for Aesthetic Plastic Surgery, in 2000, nearly 735,996 laser hair removal treatment procedures were performed in the US as compared to 757,808 in 2020, representing an increase of 3%. A total of 1,055,456 procedures were performed in 2019, representing a decrease of 28% compared to 2020 (mainly due to the COVID-19 pandemic).
According to the American Society for Aesthetic Plastic Surgery, in 2000, nearly 786,911 Botulinum Toxin treatments were performed in the US, which increased by 459% to reach 4,401,536 in 2020. However, between 2019 (5,043,057 procedures performed) and 2020, there was a decrease of 13% in the total number of procedures performed, mainly due to the COVID-19 pandemic.
With the growth in the number of minimally invasive and non-invasive aesthetic procedures, the demand for several products, including botulinum toxin, chemical peels, and photo rejuvenation products, is expected to increase in the coming years.
Restraint: Clinical risks and complications associated with dermatology procedures
In the last two decades, dermatology procedures have become increasingly popular. The market has witnessed significant growth in the demand for aesthetic treatments owing to the rise in the number of doctors and surgeons providing safe and effective dermatology treatments and the launch of technologically advanced products for the same. However, dermatology procedures are associated with various possible side effects. Patients undergoing aesthetic treatments may face several risks and complications after or during the procedure. Some of these risks are listed below:
- Pigment changes: Laser hair removal might darken or lighten the affected skin. These changes might be temporary or permanent. Skin lightening primarily affects those who do not avoid sun exposure before or after treatment and those who have darker skin
- Skin irritation: Laser hair removal can cause temporary discomfort, redness, and edema. Any signs and symptoms usually go away after a few hours
Other issues related to aesthetic treatments include anesthesia-related complications, organ damage, and infections. Red light therapy is thought to be painless and safe. However, there have been complaints of RLT units causing burns and blisters. Burns were reported in a few people after they fell asleep with the unit on, while others were burned by damaged wires or gadget corrosion. Although less harmful to the eyes than typical lasers, red light therapy may necessitate the use of eye protection. These problems are expected to hamper the adoption of dermatology treatments.
The imaging devices are accounted to hold the highest CAGR of the dermatology devices market, by type during forecasted period.
Based on type, the dermatology diagnostic devices market is segmented into imaging devices, dermatoscopes, and microscopes. During forecasted period, the imaging devices segment accounted for the highest CAGR of the dermatology diagnostic devices market. The highest CAGR of this segment can be attributed to technological advancements and the increasing incidence of skin diseases.
The skin cancer diagnosis are accounted to hold the highest CAGR of the dermatology devices market, by application during forecasted period.
Based on application, the dermatology diagnostic devices market is segmented into skin cancer diagnosis and other diagnostic applications. During forecasted period, the skin cancer diagnosis segment accounted for the highest CAGR of the market. The highest CAGR of this segment can be attributed to the rising incidence of skin cancer.
North America commanded the largest share of the dermatology devices in 2021.
Based on region, the dermatology devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2021, North America has the largest share of the dermatology devices market. The large share of this regional segment can be attributed to factors such as the rising incidence of skin diseases, increased awareness about aesthetic procedures, rapid increase in healthcare expenditure, easy accessibility to advanced technologies, and the strong presence of market players in the region.
Some of the prominent players in the Dermatology Devices Market include: Alma Lasers, Ltd. (a subsidiary of Sisram Medical Ltd.) (Israel), Cutera, Inc. (US), Cynosure Inc. (US), El.En. S.p.A.(Italy), Lumenis, Ltd. (a subsidiary of Boston Scientific) (Israel), Solta Medical (a subsidiary of Bausch Health Companies Inc.) (US), Bruker Corporation (US), Carl Zeiss (Germany), Candela Corporation (US), Genesis Biosystems, Inc. (US), HEINE Optotechnik GmbH & Co. KG (Germany), Michelson Diagnostics Ltd. (UK), PhotoMedex, Inc. (US), Leica Microsystems (a subsidiary of Danaher Corporation) (US), Olympus Corporation (Japan), FotoFinder Systems GmbH (Germany), Canfield Scientific, Inc. (US), Beijing Toplaser Technology Co., Ltd. (China), DermLite (US), Syneron Medical Ltd. (a part of Apax Partners) (US), Aerolase (US), and Bovie (a subsidiary of Symmetry Surgical) (US).
Segments Covered in the Report
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 this study, Nova one advisor, Inc. has segmented the global Dermatology Devices market
Dermatology devices Market by Product
- Dermatology diagnostics devices, by Type
- Dermatoscopes
- Microscopes
- Imaging Devices
- Dermatology treatment devices, by Type
- Light Therapy Devices
- Lasers
- Electrosurgical Equipment
- Liposuction Devices
- Microdermabrasion Devices
- Cryotherapy Devices
Dermatology devices Market by Application
- Dermatology diagnostics devices, by Application
- Skin Cancer Diagnosis
- Other Diagnostic Applications
- Dermatology treatment devices, by Application
- Hair Removal
- Skin Rejuvenation
- Acne, Psoriasis, and Tattoo Removal
- Wrinkle Removal and Skin Resurfacing
- Body Contouring and Fat Removal
- Vascular and Pigmented Lesion Removal
- Warts, Skin Tags, and Weight Management
- Other Treatment Applications
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Points Covered in Dermatology Devices Market Study:
- Growth of Dermatology Devices in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Dermatology Devices and How to Navigate
- Key Product Innovations and Regulatory Climate
- Dermatology Devices Consumption Analysis
- Dermatology Devices Production Analysis
- Dermatology Devices and Management
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