Dermatology Devices Market to Cross $20 Billion by 2025: Global Market Insights, Inc.
The North American dermatology devices market is set to achieve around a 12% CAGR up to 2025, owing to R&D investment in skin cancer treatments by major industry players.
SELBYVILLE, Del., October 8, 2019 (Newswire.com) - The Global Dermatology Devices Market value is projected to surpass USD $20 billion by 2025, according to a new research report by Global Market Insights, Inc. The growing prevalence of skin cancer and psoriasis increases the demand for minimally invasive dermatology devices. High exposure to UV rays and incorrect usage of such devices may surge the risk of several skin syndromes. Additionally, skin cancers are more prevalent in tropical countries, such as India and Japan. The population living in tropical regions is more exposed to UV radiation, which upsurges the risk of skin cancers. Thus, the aforementioned factors and upgrading regulatory scenario will augment skincare devices' business growth.
Innovations and technological advancements leading to accuracy and specificity should accelerate the industry's growth. Recurrent upgradation to novel expertise allows the development of incision-less and minimally invasive dermatology solutions that should foster business growth. Additionally, the rapid surge in the number of skin disorders will propel huge demand for dermatology devices. Furthermore, progressions to reduce complications and undesirable effects due to high exposure to UV light for efficient patient care further favor the demand for dermatology diagnostic devices. However, excessive equipment cost related to these devices may restrict dermatology devices' industry growth over the coming years.
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The treatment devices segment of the dermatology devices market was valued at over $4 billion in 2018 and should witness tremendous growth during the forecast timeframe. Advancements and growing awareness among individuals regarding the availability of superior quality treatment devices for aesthetics treatment further boosts segmental growth. The female population is more concerned about their facial appearance, which drives huge demand for skincare devices. Moreover, innovations in microdermabrasion devices and lasers for improving aesthetic appearance propel the segment's growth.
The body contouring and skin tightening segment, held around a 12.5% revenue share in 2018, will witness a lucrative CAGR by 2025. The growing demand for effective and precise aesthetic appearances will upsurge the business revenue share. Such treatments use radiofrequency to deliver targeted heat to problem areas and, thus, damage unwanted fat cells. The above-mentioned factors boost dermatology diagnostic devices' business growth.
Browse key industry insights spread across 205 pages with 223 market data tables, and seven figures and charts from the report, “Dermatology Devices Market Size By Product Type (Diagnostic Devices [Imaging Devices, Dermatoscopes, Biopsy Devices], Treatment Devices [Light Therapy Devices (LED Therapy), Lasers, Microdermabrasion Devices, Cryotherapy Devices, Electrosurgical Equipment, Liposuction Devices]), By Application (Skin Cancer, Skin Rejuvenation, Hair Removal, Body Contouring and Skin Tightening, Psoriasis), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Brazil, Mexico, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019-2025,” in detail, along with the table of contents:
Europe's dermatology devices market accounted for more than USD $2.3 billion in 2018. The availability of advanced healthcare infrastructure and the support of several organizations for managing patient health precisely will favor regional growth. Moreover, increasing demand for facial surgeries to improve facial aesthetics in the European population is the key factor that will boost regional business growth.
A few of the prominent business players operational in the dermatology devices market include Alma Lasers, 3Gen, Ambicare, Biolitec, Genesis Biosystems, AMD Global Telemedicine, Cortex Technology, Heine Optotechnik, Cutera, Ellipse, Image Derm, Lumenis, Dansys, Hologic, Solta Medical and Michelson Diagnostics. Different initiatives commenced by business players, including mergers and collaborations to withstand in the market, will foster industry growth. For instance, in December 2018, Cynosure a Hologic’s division launched TempSure, which is a radiofrequency platform. It is an FDA-cleared device that helps in minimizing fine lines, wrinkles and tightens skin by soft tissue coagulation. Furthermore, in April 2018, Biolitec AG introduced a unique laser system, LEONARDO DUAL, and it has expanded the company’s product portfolio.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Categories: Dermatology/Skin Diseases