Dermatology Devices Market Growth Opportunities and Forecast 2021-2031

[Pranali Pawar]

Dermatology Devices Market – Overview

The global dermatology devices market is projected to expand at a favorable rate from 2021 to 2031 (forecast period). The need to appear aesthetically perfect and appealing has been more prominent than ever, creating a tremendous demand for dermatology devices on a worldwide scale. Moreover, the rising prevalence of skin problems and skin cancers is expected to boost the global dermatology devices market.

Usage of dermatology devices for hair removal and stretch mark reduction is projected to fuel the global dermatology devices market growth during the forecast period. Furthermore, the global market is expected to evolve rapidly as the scope of application expands, and manufacturers and dermatology device suppliers raise their investments to increase sales.

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Dermatology Devices Market – Competitive Landscape

Key players operating in the global dermatology devices market are Alma Lasers GmbH, Cynosure, Inc., Canfield Scientific, Inc., Solta Medical, Inc., Cutera, Inc., Syneron Medical Ltd., 3Gen, Ambicare Health, Aesthetic Group, and Image Derm, Inc.

Key players are focusing on strategic activities such as mergers and acquisitions, collaborations, new product development, and geographic expansion.

For example, Lancer Skincare, the leading Beverly Hills-based international skincare company, collaborated with ByondXR to establish The Virtual Lancer Dermatology Shop in November 2021. Lancer Skincare's new virtual store offers customers the in-home benefits of a Lancer dermatology practice via a tailored, digital experience that travels across the newly emerging digitized world.

Dermatology Devices Market – Trends and Opportunities

Skin cancer has been on the rise all around the world in recent years. According to a study conducted by the National Cancer Institute, skin cancer accounts for 4.6% of all new cancer cases in the United States. Manufacturers in the dermatology devices market have developed advanced and sensitive diagnostic devices in response to the necessity to detect and treat such diseases at the earliest possible stage. As a result, competition among manufacturers has intensified, which is expected to boost the dermatology devices market growth.

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Moreover, the growing demand for aesthetic procedures is projected to drive the demand for treatment devices, cosmetic dermatology, and aesthetic lasers. Aesthetic lasers are utilized in procedures such as skin rejuvenation, hair removal, tattoo removal, psoriasis, wrinkle removal, acne, skin resurfacing, pigmented lesions, vascular lesions, and other skin problems. The growing number of such aesthetic procedures is projected to propel the global dermatology devices market.

The COVID-19 pandemic had a tremendous impact on the global dermatology devices market. Short-term negative growth was noted as a result of the total suspension of non-COVID-19 related procedures, limited manufacturing operations, and supply chain disruption. On the other hand, the dermatology devices market has experienced a V-shaped recovery. With effective distribution of vaccines in all regions, the number of dermatological devices is beginning to return to pre-pandemic levels. The global market is projected to revert to its regular growth rate during the forecast period.

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Dermatology Devices Market – Regional Landscape

The North America dermatology devices market is projected to grow due to the rising frequency of skin cancer and other skin illnesses such as eczema and rosacea and the growing acceptance of cosmetic operations. As per the CDC (Centers for Disease Control and Prevention), acne vulgaris affects 80% of the U.S. population at some point in their lives; 20% of them suffer from severe acne, resulting in lasting physical and emotional damage.

Moreover, the dermatology devices market in Asia Pacific is expected to develop at a considerable pace during the forecast period. Due to the availability of low-cost treatment choices, the rapidly developing medical tourism sector in Asia Pacific is likely to be a major driver of regional market expansion. Furthermore, an increase in the number of international firms engaging in R&D in Asia Pacific is anticipated to boost the dermatology devices market.

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