The dermatology medical device market has been segmented by end users into hospitals, dermatology clinics, private clinics, among which hospitals and specialty dermatology clinics have a huge demand for advanced and user-friendly dermatology medical devices. The dermatology medical devices find their applications in vascular lesions, tattoo removal, hair removal, scar removal, wrinkle removal, acne removal, skin rejuvenation, body contouring & fat removal among other applications.
The global market of dermatology medical device was worth USD 6.6 Billion in 2015 and is further estimated to reach USD 16.8 Billion by the end of 2023 by expanding at a compound annual growth rate of 10.6% over the period 2016-2023. Rising consumer awareness and growing demand for dermatology devices are the major factors that are anticipated to benefit the expansion of the dermatology medical device over the forecast period. [Sample Copy Here]
In the geographical segment, North America is estimated to dominate the overall dermatology medical device market followed by Europe and Asia-Pacific owing to the rising awareness among the population and growing demand for cosmetic surgery. Further, Asia Pacific is expected to be the fastest growing dermatology medical device market owing to increasing healthcare expenditure, growing cases of skin diseases and rise in elderly population across the region.
Growing Healthcare Spending and Demand for Cosmetic Surgery to Boost the Market Growth
Growing cases of skin diseases such as melanocytes, skin ulcers and increased spending on treatment and cure of skin disorders combined with rising popularity of dermatology devices for its wide scale applications for skin diseases are believed to supplement the growth of the dermatology medical device market around the globe. Further, rising prevalence of PCOD in women is anticipated to drive the growth of hair removal segment by the end of forecast period.
However, stringent government regulations regarding manufacturing of dermatology devices and lack of skilled healthcare physicians are some of the factors that are estimated to dampen the growth of the dermatology medical device market in near future.
The report titled “Dermatology Medical Device Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the dermatology medical device market in terms of market segmentation by devices, by application, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the dermatology medical device market which includes company profiling of Valeant Pharmaceuticals International Inc., Cynosure Inc., Lumenis, Syneron Candela, Avita Medical Ltd., Lutronics Corporation, Carl Zeiss, Alma Lasers Ltd., Cutera Inc. and Solta Medical Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the dermatology medical device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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