Global dermatology devices market is projected to witness a CAGR of 8.51% during the forecast period 2024-2031F, growing from USD 7.62 billion in 2023 to USD 14.65 billion in 2031F. The market growth is supported by the expansion of the dermatology sector, increasing investments in advertisements and product promotion, the development of technologically advanced products, and the rising prevalence of skin-related conditions. Such conditions affect between 30% and 70% of the global population. Increasing the FDA’s clearance of different dermatology devices and systems is another significant factor supporting the market growth.
Increasing emphasis on physical appearance owing to rising disposable income is one of the key trends driving the global dermatology devices market. The introduction of technologically advanced devices and increasing awareness about the various advantages associated with different dermatology procedures bolstered the requirement for dermatology devices.
The increasing prevalence of skin cancer is another major factor supporting the market expansion. According to the estimates of the American Cancer Society, the number of melanoma cases diagnosed in 2024 is expected to increase by 7.3%. Approximately 200,340 cases of melanoma are expected to be diagnosed in 2024 in the United States, of which 100,640 cases are expected to be invasive and 99,700 are expected to be non-invasive. The growing aging populace is further boosting the demand for dermatology devices owing to increasing concerns such as wrinkles, dark spots, and uneven skin tones.
Increasing Research and Development Activities Supports Market Growth
Over the past few years, various companies have increased investments in research and development activities to produce technologically advanced dermatology devices. Due to such investments, novel products are being developed for detecting skin cancer and acne treatment, among others, and receiving clearance from the FDA. In 2022, Accure Acne’s Accure Laser System received clearance from the Food and Drug Administration for treating severe to mild inflammatory acne vulgaris. The system uses the company’s unique pulsing algorithm, automated laser control, and integrated temperature monitoring. The laser system received clearance from the Food and Drug Administration due to the system’s ability to ensure laser delivery into the dermis and selectively target sebaceous glands. Dermatologists can learn to use this new energy-based device in a controlled environment for effectively and safely treating their patients in a controlled environment.
In January 2024, the Food and Drug Administration cleared the DermaSensor device for detecting skin cancer. The product is intended to aid in detecting squamous cell carcinoma, basal cell carcinoma, and melanoma. The AI-powered device uses elastic scattering spectroscopy to evaluate skin lesions’ subcellular and cellular characteristics and is intended for use by primary care physicians.
Rising Requirement for Personalized Skincare Solutions
The growing demand for personalized skincare solutions is boosting the requirement for dermatology devices due to the increasing consumer awareness about the various benefits of customized skincare procedures. Additionally, the increasing prevalence of various skin conditions, such as acne, rosacea, psoriasis, vitiligo, and eczema, propel the demand for dermatology devices for hair removal, cosmetic surgery, and stretch mark reduction. According to the American Academy of Dermatology estimates, acne affects up to 50 million individuals in the United States every year. The global demand for dermatology devices is further augmented by the growing prevalence of skin disorders and skin cancers and technological advancements in dermatology devices. The increasing adoption of dermatology devices for skin resurfacing, tattooing, and hair removal contributes to market growth.
North America Expected to Account for a Significant Share of the Market
The rise in disposable incomes, increasing influence of social media, growing presence of dermatology centers and clinics, and rising skin concerns are some of the major factors supporting the growth of the North America dermatology devices market. The high accessibility and acceptance of advanced technological solutions in countries including the United States and Canada is another major factor supporting the market expansion in the region. The high prevalence of skin cancer is further bolstering the requirement for dermatology devices. It is estimated that approximately 1.8 million cases of basal cell carcinoma, the second most common type of skin cancer, are diagnosed each year in the United States. Additionally, various market players in the region are investing in research and development activities to ensure the production of technologically advanced devices.
Treatment Devices Witness Increased Demand
Treatment devices will witness significant demand in the coming years. This growth can be attributed to the increasing awareness about the various benefits of dermatology treatments. Of the different treatment devices, laser devices are expected to witness an increased demand over the forecast period as they are used in various dermatological procedures, including the removal of fine lines and wrinkles, pigmented lesions, vascular lesions, unwanted tattoos, acne, and acne scars, and unwanted hair. The devices are also used in skin tightening procedures. Cosmetic lasers cause a controlled skin injury that encourages the production of collagen. CO2 lasers are the most effective in treating deeper acne scars. Recently, considerable success has been witnessed in ensuring the effective treatment of superficial acne scarring with developments such as the fractional laser, specific non-ablative lasers, and erbium, YAG. Different cosmetic lasers also help alleviate varicose veins, broken blood vessels, and spider veins. Over the past few years, dermatologists have turned to radiofrequency ablation techniques (RFA) and endovenous laser therapy (EVLT) to reduce the appearance of leg veins. During the treatment session, the beam is focused on targeting dark pigmentation in the blood. The laser heat destroys the affected veins without damaging the surrounding tissues or skin. These advantages and applications offered by the devices are bolstering the requirement, which in turn is supporting the segment’s expansion and aiding the market growth.
Hospitals Account for Significant Global Dermatology Devices Market Share
The segment growth can be attributed to the increasing availability of dermatological services in hospitals, rising investments in advanced dermatology equipment and devices, and growing awareness about various skin conditions. Due to the increasing awareness among the general population about different skin conditions and their various negative effects, an increasing number of individuals regularly visit hospitals to receive diagnoses and treatments. In hospitals, dermatology can also offer clinical support for managing and diagnosing different skin conditions, decreasing mortality and morbidity. Furthermore, due to the increasing prevalence of skin cancer in different regions across the segment, it is witnessing rapid expansion. According to the estimates of the Skin Cancer Foundation, one in five Americans will develop skin cancer by the age of seventy. Every hour, more than two people die of skin cancer in the United States.
Future Market Scenario (2024–2031F)
The market is driven by an increase in the number of aesthetic procedures and the rising popularity of telemedicine. Telemedicine is revolutionizing dermatology by enabling online consultations and quick diagnoses based on patient-submitted photos, enhancing accessibility and efficiency. Health sensors are also being leveraged to monitor and manage skin conditions, such as sun exposure, with the potential to aid in preventing and treating skin cancer. Such technological advancements will offer lucrative growth opportunities to the market in the coming years.
Report Scope
“Dermatology Devices Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global dermatology devices market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120,
VA beach, VA,
USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com/