The dermatology treatment devices market was estimated to be US$ 6.73 billion in 2021 and US$ xx billion in 2023. It is expected to reach US$ 21.86 billion by 2031 and record a CAGR of 12.5% until 2031. Home use dermatology devices, integration of AI in dermatology devices and development of dermatology devices with customised settings will likely remain key dermatology treatment devices market trends.
Dermatology Treatment Devices Market Analysis
Rising prevalence of skin diseases is expected to drive the dermatology treatment devices market's growth. Age-related skin issues such as pigmentation, wrinkles, creases, and acne, as well as burn scars caused during accidents are common among masses. According to the National Center for Complementary and Integrative Health, one in three Americans suffers from skin diseases. Further, as per the Skin Cancer Foundation, one in five Americans will develop skin cancer by the age 70 and over 2 people die of skin cancer in the U.S. every hour. These skin diseases require critical medical intervention and dermatology devices for their therapeutic treatment to combat severe condition, which is further likely to propel the growth of the dermatology treatment devices market.
Dermatology Treatment Devices Market Overview
Global dermatology treatment devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. The market growth in this region is expected due to factors such as the rising prevalence of skin issues and technological advancements in dermatology treatment devices are expected to boost the growth of the market. However, the risk of undesirable side effects associated with the use of dermatology treatment devices is likely to hinder the market growth.
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Dermatology Treatment Devices Market: Strategic Insights
Market Size Value in US$ 5,320.73 Million in 2019 Market Size Value by US$ 8,800.07 million in by 2027 Growth rate CAGR of 6.7% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Dermatology Treatment Devices Market: Strategic Insights
| Market Size Value in | US$ 5,320.73 Million in 2019 |
| Market Size Value by | US$ 8,800.07 million in by 2027 |
| Growth rate | CAGR of 6.7% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Dermatology Treatment Devices Market Drivers and Opportunities
Technological Advancements in Dermatology Treatment Devices to Favor the Market.
Continuous research and development studies are being carried out worldwide to understand skin-related medical conditions better. Companies are investing in developing new and innovative medical devices to secure good return on investment (ROI). In addition, the approval by regulatory authorities confirms the reliability and credibility of the new-age products and medical devices for skin treatment. For instance, in February 2024, Nu Skin Enterprises, a global beauty and wellness leader, introduced Nu Skin RenuSpa iO, a microcurrent body device a smart beauty and wellness device designed to promote overall wellness and body through skin stimulation.
Rising Middle-Income Population and Disposable Incomes – An Opportunity in Dermatology Treatment Devices Market
As per the European Union, the global middle class is expected to reach 5.3 billion people by 2030, and the Asian population will likely be at the forefront of this development. By 2030, China and India are expected to represent ~66% of the global middle-class population and 59% of middle-class consumption. The expansion of the middle-class, with significant changes in consumer behavior and consumption patterns, is likely to drive economic development. In addition, the US Bureau of Labor Statistics stated that the disposable income in the US increased from US$ 10,036.9 billion in 2006 to US$ 21858.08 billion in 2021.
Dermatology Treatment Devices Market Report Segmentation Analysis
Key segments that contributed to the Dermatology Treatment Devices market analysis derivation are services and applications.
- Based on product type, the dermatology treatment devices market is segmented into lasers, light therapy devices, cryotherapy devices, microdermabrasion devices, energy-based therapies devices and microneedling. The laser segment held the largest share of the market in 2023, whereas the light therapy devices segment is anticipated to register the highest CAGR in the market during the forecast period.
- The market is segmented by application skin resurfacing, skin rejuvenation, hair removal, psoriasis, scar, warts and skin tags, hyperpigmentation and vascular lesions, acne, tattoo removal, and hyperhidrosis. The skin rejuvenation segment held the largest share of the market in 2023, whereas the hair removal segment is anticipated to register the highest CAGR in the market during the forecast period.
- By end-user, the dermatology treatment devices market has been segmented into hospitals, SPA clinics, dermatology clinics and surgical centers. The dermatology clinics held the largest share of the market in 2023, and the same segment is estimated to register the highest CAGR in the market during the forecast period.
Dermatology Treatment Devices Market Share Analysis by Geography
The geographic scope of the dermatology treatment devices market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America includes US, Canada, and Mexico. The market in North America held a significant share in the global market during the year 2023. The demand for the market in the region is anticipated to witness growth at a significant rate during the forecast period owing to various factors such as increasing demand for advanced technology-based dermatology solutions, rising incidence of skin diseases, technological advancements in the field of dermatology supported by FDA approvals and the presence of well-known market players.
The Asia Pacific is the fastest-growing market for dermatology treatment devices globally owing to the large population of countries such as China and India, the increasing focus of market players, and the introduction of new products or therapies in the country. Moreover, the rising incidence of skin disorders, growing awareness of cosmetic procedures to improve aesthetic appeal, increase in healthcare expenditure, and availability of technological advancements in dermatology devices help to boost the growth of the dermatology treatment devices market in the region.
Dermatology Treatment Devices Market Report Scope
Dermatology Treatment Devices Market News and Recent Developments
The dermatology treatment devices market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for dermatology treatment devices and strategies:
- In October 2021, Lutronic, the global leader in energy-based systems for medical aesthetics, introduced Derma V, a ground-breaking dermatology workstation. Derma V is a dermatology laser that skin specialists need for their daily work - vascular, pigment and rejuvenation - into a single, powerful and user-friendly technology. Before the launch of Derma V, dermatologists had to juggle technologies, switching from one purpose-built laser to another to use the right tool for the right procedure, often reducing efficacy and safety for speed and useability, or vice-versa. (Source: Company Press Release)
- In February 2023, MTG Co., Ltd. launched the "ReFa DERMA HEAT," a facial device that enables simultaneous action of high-frequency vibration heat and cooling with its unique "DERMA HEAT" technology. (Source: Company Press Release)
Dermatology Treatment Devices Market Report Coverage and Deliverables
The “Dermatology Treatment Devices Market Size and Forecast (2022–2030)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type ; Application ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
- Cutera Inc.
- Bausch Health Companies Inc.
- Sciton, Inc.
- Lumenis
- Alma Lasers
- Cynosure
- Candela Corporation
- Biofrontera Ag
- Leica Microsystems
- DermLite
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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