Dermatology devices market continues to gain increasing momentum with growing interest among people of all ages and ethnicities in skin rejuvenation procedures and products. Over the years, these devices including RF devices, microdermabrasion devices, lasers, and associated accessories have been installed widely in dermatology clinics and hospitals to assist the physicians for the treatment of skin disorders and life-threatening skin cancer such as melanoma.
Early Skin Cancer Detection Gaining Ground as Potential Key to Drive the Sales of Dermatology Devices
In 2016, ‘The Skin Cancer Foundation’ reported approximately 10,130 cases of death due to melanoma which continued to prompt the manufactures of dermatology devices to adopt advanced technology in the development of their products. Considering such high mortality rates, a focus on novel product innovations dedicated toward the early diagnosis and effective treatment of skin disease is one of the key growth strategies of established manufacturers.
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Diagnostic equipment such as dermatoscopes are being used for the treatment of various skin diseases, and have also shown positive results in the detection of melanoma through evaluation of pigmented lesions. A myriad of new and evolving developments is also witnessed in dermatology devices, for instance, laser instruments and light therapy have been progressive in improving one’s aesthetic appeal. Further, liposuction equipment including vibration- and power-assisted liposuction devices have been contributing to the expansion of dermatology devices market. These equipment have also led to remarkable improvements in body contouring treatment and effective assistance in reducing high amount of fat in relatively short period of time.
Rapid growth in the demand for procedures involving in non-invasive cosmetic correction, especially among geriatric demographic, backed by rising healthcare expenditure along with soaring purchasing capabilities of consumers, is making the dermatology devices market highly lucrative. In addition, introduction of technologically advanced noninvasive laser therapies has contributed to the rising demand for dermatology devices.
The global market dermatology devices market is expected to accelerate at a significant CAGR throughout the forecast period between 2017 and 2022. The market is foreseen to exceed revenues worth US$ 1,000 Mn by the end of 2022.
Although the global market for dermatology devices is likely to maintain a positive outlook, high cost associated with these devices resulting into expensive dermatological treatment may challenge the adoption of these procedures. Further, a number of side effects linked to dermatological treatments will possibly pose as a huge limitation for key market players.
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Market Shares to Remain Consolidated in North America
North America is anticipated to retain its supremacy in the global dermatology devices market due to increasing prevalence of skin cancer like melanoma. According to the American Cancer Society, the melanoma rates have been increasing for the last 30 years and nearly 96,480 new melanomas are estimated to be diagnosed in the United States in 2019. The regional market is further likely to be driven by greater availability of advanced treatment and surgical procedures.
Radiofrequency electrosurgery devices are anticipated to contribute around one-share of the market revenue during the forecast period, representing as the most lucrative dermatology devices. Sales of ultrasonic electrosurgery devices are deemed to account for the lowest revenue in the dermatology devices market.
Opportunities Abound for Key Players Operating in Dermatology Devices Market
Increasing attention of consumers toward physical appearances and aesthetics is impacted tremendously by the penetration of social media and advertisements. This has also raised interest in a range of cosmetic surgeries which has been envisaged to create lucrative opportunities for manufactures of dermatology devices. Further, introduction of technologically advanced solutions will possible complement their prominence in the competitive landscape.
The report highlights major players participating in the global dermatology devices market. Some of them include Erbe Elektromedizin GmbH, AngioDynamics, Inc., Johnson & Johnson Private Limited, Heal Force Bio-meditech Holdings Limited, Alma Lasers, Cynosure, Inc., Bovie Medical Corporation, B. Braun Melsungen AG, Smith and Nephew CoMedtronic Plc, and Cutera, Inc.
Mr. Shambhu Nath Jha is a seasoned consultant and researcher. His research papers have been published in reputed websites and trade journals. His interests include philosophy and history.