Dermatology Devices Market is expected to reach US$ 11,235.42 Million by 2028

The global dermatology devices market size is expected to reach US$ 11,235.42 million by 2028, registering a CAGR of 11.2% from 2022 to 2028, according to a new research study conducted by The Insight Partners. The report highlights the key factors driving the market growth and prominent players with their developments in the market.  

Treatment Device Segment to Account for Largest Share in Dermatology Devices Market During 2022–2028

Technological Advancements in Dermatology Devices Boost Overall Market Growth

According to the Frontiers S.A. report, dermatology is an independent clinical secondary discipline. With emerging digital technology, remote transmission technology, and internet technology, dermatology procedures have become the most accessible discipline coupled with innovative technologies and establish wide clinical applications. Top companies are developing technology-based devices intended for dermatology applications. Sofwave is using ultrasound energy-based products. Its "Ultratherapy Device" is the best fit, capable of detecting skin lesions at a 3–4.5 mm depth. A more profoundly penetrating beam is preferred among people with thicker or heavier skin. Ultratherapy Device is best suitable for detecting medium-thickness or thicker skin that is focal (in certain areas). Moreover, Ultratherapy Device Software is best for thicker skin where the underlying tissue is not much of an issue.

Global Dermatology Devices Market, by Region, 2021 (%)

Source: The Insight Partners Analysis

Cosmetic and plastic surgery procedures have gained significant attention in the world. For example, the UK, South Korea, Australia, and the US report an increasingly high number of cosmetic and plastic surgery procedures. Moreover, technological advancements have added to the accessibility and feasibility of these procedures. Computer-assisted imaging assists surgeons in identifying the exact location of skin disorders, which helps offer high-quality results. Moreover, in the plastic surgery industry, the development of microdevices enables surgeons to effectively perform microsurgeries, consisting of tiny incisions and scarring. Such innovative technology-based products are safe and provide accurate results.

Based on product type, the global dermatology devices market is bifurcated into treatment device and diagnostic device. The treatment device segment accounted for a larger market share in 2021 and is expected to register a higher CAGR from 2022 to 2028. Based on application, the market is segregated as skin cancer diagnosis, skin rejuvenation, hair removal, body contouring & skin tightening, psoriasis, and others. The skin cancer diagnosis segment led the market in 2021 and is expected to retain its dominance during the forecast period. Based on end user, the global dermatology devices market is segmented into hospitals, dermatology clinics, and others. The hospitals segment led the market in 2021; however, the dermatology clinics segment is expected to account for the highest CAGR during 2022–2028.

The COVID-19 pandemic put immense pressure on health workers, especially in 2020. A socioeconomic analysis of the impact of the pandemic by the United Nations Development Programme (UNDP) helped governments overhaul policies and invest in public health, economic stimulus, and social safety. These measures helped countries recover faster from the adversities caused by the COVID-19 crisis. According to a report published in the Journal of Dermatological Treatment, based on the new dermatologic surgery criteria, the expected surgical activity decreased by 20%, while the actual reduction in surgical activity was 46.5% owing to altered preferences of patients and difficulties faced by them while reaching hospitals amid the social restrictions imposed during the pandemic. Moreover, outpatient activities involving dermatological surgeries were drastically reprioritized retaining only life-saving procedures to protect healthcare providers and patients. Nevertheless, the re-establishment of eligibility criteria for skin surgery is playing an essential role in the growth of the global dermatology devices market.

Alma Lasers (Sisram Medical), Cutera Inc., Candela Corporation, Solta Medical (Bausch Health Companies), FotoFinder System's, Cynosure, Lumenis, El.En SpA, Leica Microsystem, and Aerolase Corp are among the leading companies operating in the global dermatology devices market.    

Various organic and inorganic strategies are adopted by companies operating in the global dermatology devices market. Organic strategies mainly include product launches and product approvals, while inorganic growth strategies witnessed in the market are acquisitions, collaborations, and partnerships. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few of the significant developments by key players operating in the global dermatology devices market are listed below.

• In January 2021, Candela Corporation announced collaboration with Merz Aesthetics to provide device, injectable, and skincare portfolios in North America.
• In March 2022, Cynosure partnered with Jeisys Medical KK (a subsidiary of Jeisys Medical Inc.) for key premier products within Cynosure's energy-based laser portfolio in Japan. Through this partnership, the companies aim to accelerate their growth among aesthetic devices and superior regimens of care.
• In April 2021, Alma Lasers, a Sisram Medical Company, announced the launch of 2 product launches such as “Alma PrimeXT Product Launch” Alma and “Alma PrimeXTM”, the Ultimate Non-invasive Platform for Body Contouring and Skin Tightening, Delivering Spectacular Results.
• In January 2021, Candela Corporation, announced the launching of the “Frax Pro system”, the smart way to Frax Pro System. The FDA-cleared, non-ablative fractional device is the first platform featuring dual-depth skin resurfacing with both Frax 1550 and the novel Frax 1940 applicators.

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