Dermatology devices market will exceed USD 20 billion by 2025; as per a new research report.
The global dermatology devices market is estimated to account a significant growth in the near future owing to rising prevalence of skin diseases such as acne, eczema, scars, psoriasis and other skin related diseases. The increasing consciousness about physical appearance and aesthetic awareness is expected to significantly fuel the growth of market globally. Moreover, growing demand for technically advanced diagnostics and therapeutics devices such as non-invasive cosmetic rectification procedures is also significantly boosting growth of the dermatology devices market.
The increased demand for home-based devices, growing prevalence of obesity, is propelling adoption of dermatology devices. Furthermore, the rising geriatric population, improving healthcare expenditure, and growing disposable income are collectively advancing the demand for dermatology devices. However, numerous side effects of skin treatments and high cost associated with dermatology procedures may hamper the dermatology devices market growth.
Treatment dermatology devices segment is expected to register CAGR of 12.5% over the forecast period. The growing adoption of technically advanced treatment is substantially contributing towards high share of segment in the dermatology devices market. Furthermore, growing skin proficiency and rising prevalence of various skin disorders are motivating the growth of the dermatology treatment devices market globally. Among the dermatology treatment devices, Lasers segment is estimated to register significant growth during the forecast period. The growing adoption of laser therapy, for skin tightening, remove unwanted hair, fine lines, age spots, and wrinkles on the face is impacting towards high growth of segment in the global dermatology treatment devices market.
Skin rejuvenation segment is estimated to valued over USD 2 billion revenue share in 2018 and will witness lucrative CAGR by 2025. The growing aging population is enhancing demand for skin rejuvenation, that helps to look more youthful and healthier as it helps in substitution of old, damaged skin cells with new ones. Furthermore, application of these devices helps in promoting collagen to repairs skin tone and texture will thus improve dermatology devices industry growth.
Europe dermatology devices industry accounted for around 27% revenue share in 2018 and is calculated to witness a significant CAGR by 2025. The high adoption of technically advanced dermatology devices, well-established healthcare infrastructure will enhance the regional market growth. Moreover, high awareness about advanced skin treatment and diagnosis, growing demand for facial surgeries in the region along will spur Europe market.
Some of the key business players operating in the dermatology devices market include Derm, Alma Lasers, Lumenis, Aesthetic, 3Gen, Ambicare, Genesis Biosystems, Heine Optotechnik, Biolitec, Cortex Technology, Ellipse, Amd Global Telemedicine, Michelson Diagnostics, Dansys, Solta Medical, Hologic and Cutera. These business players focus on acquisitions, mergers, new product launch and collaborations to uphold their economic stability and withstand market competition. For instance, in April 2019, Alma Lasers has introduced BeautiFill, a single laser-based platform that produces superior quality autologous fat face contouring and for holistic body. The new product of the company will improve aesthetic medicines by increasing new treatment to practice, and that is anticipated to propel the growth of the market.