Dermatology Devices Market : Soaring Demand Assures Motivated Revenue Share during 2017 – 2022
The global dermatology devices market is estimated to expand at an above-average CAGR over the forecast period (2017-2022). The global market for dermatology devices is expected to account for over US$ 1,000 Mn revenues by 2022-end. Dermatology devices have been installed in various hospitals and dermatology clinics for assisting physicians in treatment of skin disorders.
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Procedures associated with non-invasive cosmetic correction have witnessed a surge in demand, with growing geriatric population, soaring healthcare expenditure, and rising disposable income of people in developing and developed countries. In contrast, high costs of dermatology devices have made the dermatological treatments expensive, which may act as a restraining factor to adoption of these treatments. Moreover, several side effects are associated with dermatological treatments, which in turn, incurs significant challenges for leading players in the global dermatology devices market.
The prevalence of skin-related disorders has been increasing around the world. As per “The Skin Cancer Foundation”, more than 10,000 people died owing to melanoma in 2016. In order to lower such high mortality rates, diagnosis of skin diseases, such as skin cancer. In addition, several diagnostic equipment have been utilized for treating various types of skin cancer. For instance – dermatoscopes are playing an indispensable role in detecting melanoma, with evaluation of the pigmented lesions. A number of technological advancements are being made in dermatology devices, for example – laser instruments, and light therapy improved aesthetic appeal of people. The advanced liposuction equipment have improved body contouring treatment. Power- and vibration-assisted liposuction devices have aided in reducing significant amount of fat in shorter time period. Developments such as these will impact growth of the market in the upcoming years.
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North America to Remain Dominant in the Global Dermatology Devices Market
North America is projected to retain its dominance in the global dermatology devices market, in terms of revenues. Sales of dermatology devices in Asia Pacific excluding Japan (APEJ) will exhibit the highest CAGR through 2022, followed by Europe. Europe will continue to remain the second largest market for dermatology devices over the forecast period.
Radiofrequency electrosurgery devices will remain the most lucrative dermatology devices, and revenues from sales of these devices will account for over one-third share of the market during 2017 to 2022. Sales of ultrasonic electrosurgery devices are expected to account for the lowest revenues in the market.
Although hospitals are expected to remain the largest end-users of dermatology devices, sales in dermatology clinics will register the fastest expansion during the forecast period. Based on application, dermatology devices will witness the largest adoption in hair removal, followed by stretch marks reduction.
Key players mentioned in Fact.MR’s report on the Global dermatology devices market include B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Heal Force Bio-meditech Holdings Limited, Johnson & Johnson Private Limited, Bovie Medical Corporation, Medtronic Plc, Smith and Nephew Co., and AngioDynamics, Inc.