The dermatology devices market is expected to register a CAGR of 12.3% during the forecast period (2022-2027).
The outbreak of COVID-19 pandemic impacted the dermatology devices market. The closure of non-essential businesses created a disruption in the dermatology industry, and consumers are now looking for online cosmetic home treatments. The dermatology brands can exploit this opportunity to renovate their online offerings, offer e-consultation services, and invest in advanced technology as more consumers seek cosmetic advice from the comfort of their homes.
Moreover, the pressure to look good on zoom video calls during lockdown has prompted a spike in cosmetic procedures across the Globe. The most in-demand surgical procedures included rhinoplasty, breast augmentation, laser eye surgery, smile correction procedures, and eyelid surgeries. The increased exposure to videoconferencing software, the constant exposure to one’s own appearance has also been a driver for the post-lockdown increase in procedures. For instance, the Cadogan Clinic reported a huge increase in facial surgery, which saw a 10-fold increase, a 188% rise in fat transfer/face-lift procedures, and a 78% increase in rhinoplasties in the year 2020 than the previous year. Thus, the demand for dermatological devices for cosmetic procedures in order to improve appearance has been increasing in the upcoming years.
The dermatology devices market is expected to witness rapid growth, owing to the increasing prevalence of skin cancer and other skin diseases, and contribute significantly to the high demand for dermatology devices. Furthermore, growing awareness of cosmetic procedures to improve the aesthetic appeal and technological advancements in dermatology devices drive the adoption of these devices. The rise in disposable income is driving the market for dermatology devices.
Skin disease is one of the leading causes of the increasing global disease burden, affecting millions of people worldwide. Aging and environmental and genetic factors result in the development of a diverse number of skin diseases.The prevalence of melanoma and non-melanoma skin cancers is rising significantly. According to the American Academy of Dermatology Association 2022, approximately 9,500 people in the United States are diagnosed with skin cancer every day. As per the American Cancer Society’s estimates, about 99,780 new melanomas will be diagnosed in the United States in 2022, and about 7,650 people are expected to die of melanoma in the same year.
Moreover, the introduction of advanced dermatology devices for removing age spots or dark marks is expected to drive the product demand over the forecast period. Procedures, such as microdermabrasion, are used to renew the overall skin tone and reduce scarring, wrinkles, and other skin-related conditions. The increasing awareness of these procedures is expected to drive the demand for dermatology procedures, leading to a subsequent rise in demand for dermatology devices.
However, the side effects related to dermatological treatments and stringent regulatory policies for medical devices are some of the factors, which is likely to hamper the growth of the market.
The pandemic is likely to have a profound impact on the market studied. The pandemic has mightily impacted consumer behavior, with many upcoming beauty trends fast-forwarded and new purchase and usage patterns appearing. Telehealth became a viable solution for many dermatological practices. For instance, the Permanente Medical Group (TPMG) teledermatology program is designed for patients concerned about suspicious lesions or moles on their bodies. The patient can take a picture of the location in question and send it to their primary care physician for review. Thus, the above-mentioned factors are likely to boost the dermatological market in upcoming years.
A dermatoscope or a skin surface microscope is a non-invasive, handheld magnification tool that is directly placed on the surface of the skin of the patient to examine the key morphological structures of skin lesions, which are on and below the skin surface and are not easily visible to the naked eye. This is useful to dermatologists in distinguishing benign from malignant (cancerous) lesions, especially in the diagnosis of melanoma. Dermoscopy has also been observed to improve the diagnostic accuracy, sensitivity, and specificity for skin cancer diagnosis by dermatologists.
These devices have been continued to be valuable in the dermatology industry, along with new technologies in areas such as artificial intelligence (AI), which enhance its uses to become an essential tool in every medical professional's office. Moreover, they are gaining popularity in other fields of medicine, including primary care. Several studies have revealed the accuracy of dermatoscopes.
Moreover, the introduction of advanced dermatoscope is expected to drive the product demand over the forecast period. In 2020, a global primary diagnostic instrument manufacturer HEINE launched two new dermatoscopes, DELTA 30 and DELTA, one in the United States, including an enhanced achromatic optical system for pristine images. Thus, the above-mentioned factors are expected to drive the growth of the dermatology devices market.
Due to the high transmission rate and lack of treatment of COVID-19, North American countries have suffered and are continuing to bear a significant burden on their economies and healthcare systems. During the COVID-19 crisis, non-urgent clinical procedures and surgical procedures need to be postponed until the situation improves. Hospitals must ensure the quality of care provided to the patients. Thus, the dermatology devices industry has been hugely affected and has been facing many losses. Even the research and development mission has halted to an extent.
North America has accounted for the largest share of the market. This trend is likely to continue due to the increasing prevalence of skin cancer and other skin diseases, such as eczema and rosacea. An increasing number of skin cancer cases are also found in the United States. As per data published by the Skincare Foundation, in 2020, 1 in 5 Americans will develop skin cancer by the age of 70. More than two people die of skin cancer in the U.S. every hour. Also, when detected early, the 5-year survival rate for melanoma is 99 %. Thus, the rising prevalence of skin cancer and other skin diseases contributes significantly to the high demand for dermatology devices.
Several medical technology companies focus on products that deliver less expensive, quicker, and more efficient patient care. In Jul 2020, Lancer Skincare announced the launch of its very first skincare exfoliating device, the Pro Polish Microdermabrasion Device. Pro Polish enhances the efficacy of the Lancer routine by delivering surface-layer microdermabrasion in a patented, handheld device. These advancements in dermatology devices, in terms of features and wide-scale application for skin diseases, are expected to bolster the demand for dermatology devices in the market.
The market players are expanding the dermatology devices portfolio by improving their existing product portfolios, with continuous innovation in the devices that are already available in the market. These players are also adopting growth strategies to expand their product offerings, strengthen their geographical reach, and increase their customer base. In June 2020, AbbVie company (Allergan Aesthetics) product JUVÉDERM VOLUMA XC was approved by the FDA for the augmentation of the chin region to improve the chin profile in adults over the age of 21. Such product advances are likely to fuel the market growth.
This product will be delivered within 2 business days.
The outbreak of COVID-19 pandemic impacted the dermatology devices market. The closure of non-essential businesses created a disruption in the dermatology industry, and consumers are now looking for online cosmetic home treatments. The dermatology brands can exploit this opportunity to renovate their online offerings, offer e-consultation services, and invest in advanced technology as more consumers seek cosmetic advice from the comfort of their homes.
Moreover, the pressure to look good on zoom video calls during lockdown has prompted a spike in cosmetic procedures across the Globe. The most in-demand surgical procedures included rhinoplasty, breast augmentation, laser eye surgery, smile correction procedures, and eyelid surgeries. The increased exposure to videoconferencing software, the constant exposure to one’s own appearance has also been a driver for the post-lockdown increase in procedures. For instance, the Cadogan Clinic reported a huge increase in facial surgery, which saw a 10-fold increase, a 188% rise in fat transfer/face-lift procedures, and a 78% increase in rhinoplasties in the year 2020 than the previous year. Thus, the demand for dermatological devices for cosmetic procedures in order to improve appearance has been increasing in the upcoming years.
The dermatology devices market is expected to witness rapid growth, owing to the increasing prevalence of skin cancer and other skin diseases, and contribute significantly to the high demand for dermatology devices. Furthermore, growing awareness of cosmetic procedures to improve the aesthetic appeal and technological advancements in dermatology devices drive the adoption of these devices. The rise in disposable income is driving the market for dermatology devices.
Skin disease is one of the leading causes of the increasing global disease burden, affecting millions of people worldwide. Aging and environmental and genetic factors result in the development of a diverse number of skin diseases.The prevalence of melanoma and non-melanoma skin cancers is rising significantly. According to the American Academy of Dermatology Association 2022, approximately 9,500 people in the United States are diagnosed with skin cancer every day. As per the American Cancer Society’s estimates, about 99,780 new melanomas will be diagnosed in the United States in 2022, and about 7,650 people are expected to die of melanoma in the same year.
Moreover, the introduction of advanced dermatology devices for removing age spots or dark marks is expected to drive the product demand over the forecast period. Procedures, such as microdermabrasion, are used to renew the overall skin tone and reduce scarring, wrinkles, and other skin-related conditions. The increasing awareness of these procedures is expected to drive the demand for dermatology procedures, leading to a subsequent rise in demand for dermatology devices.
However, the side effects related to dermatological treatments and stringent regulatory policies for medical devices are some of the factors, which is likely to hamper the growth of the market.
Key Market Trends
Dermatoscopes Anticipated to Show High Growth during the Forecast Period
The pandemic is likely to have a profound impact on the market studied. The pandemic has mightily impacted consumer behavior, with many upcoming beauty trends fast-forwarded and new purchase and usage patterns appearing. Telehealth became a viable solution for many dermatological practices. For instance, the Permanente Medical Group (TPMG) teledermatology program is designed for patients concerned about suspicious lesions or moles on their bodies. The patient can take a picture of the location in question and send it to their primary care physician for review. Thus, the above-mentioned factors are likely to boost the dermatological market in upcoming years.
A dermatoscope or a skin surface microscope is a non-invasive, handheld magnification tool that is directly placed on the surface of the skin of the patient to examine the key morphological structures of skin lesions, which are on and below the skin surface and are not easily visible to the naked eye. This is useful to dermatologists in distinguishing benign from malignant (cancerous) lesions, especially in the diagnosis of melanoma. Dermoscopy has also been observed to improve the diagnostic accuracy, sensitivity, and specificity for skin cancer diagnosis by dermatologists.
These devices have been continued to be valuable in the dermatology industry, along with new technologies in areas such as artificial intelligence (AI), which enhance its uses to become an essential tool in every medical professional's office. Moreover, they are gaining popularity in other fields of medicine, including primary care. Several studies have revealed the accuracy of dermatoscopes.
Moreover, the introduction of advanced dermatoscope is expected to drive the product demand over the forecast period. In 2020, a global primary diagnostic instrument manufacturer HEINE launched two new dermatoscopes, DELTA 30 and DELTA, one in the United States, including an enhanced achromatic optical system for pristine images. Thus, the above-mentioned factors are expected to drive the growth of the dermatology devices market.
North American Region Holds the Largest Market Share of Dermatology Devices Market
Due to the high transmission rate and lack of treatment of COVID-19, North American countries have suffered and are continuing to bear a significant burden on their economies and healthcare systems. During the COVID-19 crisis, non-urgent clinical procedures and surgical procedures need to be postponed until the situation improves. Hospitals must ensure the quality of care provided to the patients. Thus, the dermatology devices industry has been hugely affected and has been facing many losses. Even the research and development mission has halted to an extent.
North America has accounted for the largest share of the market. This trend is likely to continue due to the increasing prevalence of skin cancer and other skin diseases, such as eczema and rosacea. An increasing number of skin cancer cases are also found in the United States. As per data published by the Skincare Foundation, in 2020, 1 in 5 Americans will develop skin cancer by the age of 70. More than two people die of skin cancer in the U.S. every hour. Also, when detected early, the 5-year survival rate for melanoma is 99 %. Thus, the rising prevalence of skin cancer and other skin diseases contributes significantly to the high demand for dermatology devices.
Several medical technology companies focus on products that deliver less expensive, quicker, and more efficient patient care. In Jul 2020, Lancer Skincare announced the launch of its very first skincare exfoliating device, the Pro Polish Microdermabrasion Device. Pro Polish enhances the efficacy of the Lancer routine by delivering surface-layer microdermabrasion in a patented, handheld device. These advancements in dermatology devices, in terms of features and wide-scale application for skin diseases, are expected to bolster the demand for dermatology devices in the market.
Competitive Landscape
The market players are expanding the dermatology devices portfolio by improving their existing product portfolios, with continuous innovation in the devices that are already available in the market. These players are also adopting growth strategies to expand their product offerings, strengthen their geographical reach, and increase their customer base. In June 2020, AbbVie company (Allergan Aesthetics) product JUVÉDERM VOLUMA XC was approved by the FDA for the augmentation of the chin region to improve the chin profile in adults over the age of 21. Such product advances are likely to fuel the market growth.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abbvie Inc. (Allergan Inc.)
- Alma Lasers Ltd
- Bausch Health Companies Inc. (Solta Medical Inc.)
- Bruker Corporation
- CANDELA CORPORATION
- Carl Zeiss
- Cutera Inc.
- Galderma SA
- Genesis Biosystems Inc.
- Hologic Inc. (Cynosure Inc.)
- Lumenis Ltd
- Merz Pharma GmbH & Co. KGaA
Methodology
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