In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Alma Lasers one of the world's leading providers of power-based medical and aesthetic solutions introduced the new Alma PrimeXTM platform. It is a non-invasive treatment for body contouring and skin tightening.
Canfield Scientific, Inc., the "Andreas Syggros" Hospital Melanoma and Skin Cancer Center has received a donation from the Onassis Foundation for the first VECTRA® WB360 whole-body imaging equipment in Greece, designed by Canfield.
Dermatological devices are the equipment that enables doctors to diagnose and treat, skin-related disorders. With the help of these devices, medical practitioners study the physiology of the skin and treat the condition of skin, hair, and nails. These devices are used for performing various skin procedures including cryosurgery, electrodesiccation, skin biopsy, chemotherapy, and others. These procedures are used for treating diseases, such as acne, skin cancer, dermatitis, psoriasis, vitiligo, and many more. These are widely used in dermatology clinics, hospitals, and in research institutes.
The adoption of dermatological devices has increased owing to the growing desire of people to achieve desired looks. Moreover, the higher preference for minimally invasive surgery has created a huge demand for the devices. Dermabrasion and microneedling are the popular less invasive treatments. Furthermore, dermatological devices have also aided in the replacement of damaged or lost parts of the body. It has also been helpful in the treatment of chronic diseases, such as venous leg ulcers.
In recent times, dermatological devices have been adopted into standard clinical practices, and their popularity is attributed to the integration of various technology. The advancement of dermatological devices, such are better quality, improved magnification, and the ability to track and capture the picture of lesions has significantly contributed to the growth of the dermatological devices market.
The application of dermatological devices is not only limited to hospitals and clinics. There are many devices in the market that can be easily used by a person in the comfort of their home. The range of home skin devices includes an electric razor to remove dead skin layers, an inkjet printer for correction pigmentation, beauty rollers, and others.
Base Year |
2017 |
Forecast Year |
2022-2031 |
CAGR |
11.1% |
Base Year Market Size (2017) |
USD 6,014.3 Million |
Forecast Year Market Size (2031) |
USD 21,650.7 Million |
Regional Scope |
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The global dermatological devices market is estimated to garner a revenue of USD 21,650.7 Million by the end of 2031 by growing at a CAGR of 11.1% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 6,014.3 million in 2017, and USD 8392.7 million in the year 2022. The growth of the market can be attributed to the increasing count of people suffering from hair loss problems and skin issues. Hair loss has been a common problem among people, the occurrence of problems is associated with unhealthy food habits, pollution, stress, and others. hair loss problems can be pseudo-treated by microblading and can be permanently treated by micro grafting. These procedures are likely to boost the demand for dermatological devices. About 80% of Americans experience hair loss, while 15% of women experience acne outbreaks, according to the American Academy of Dermatology Association.
Get more information on this report:In addition to these, factors that are believed to fuel the market growth of the dermatological devices market include the increased prevalence of skin procedures, including microneedling and dermabrasion, owing to its lesser invasion, higher effectiveness and quick process. The National Library of Medicine claims that microneedling increases the delivery of drugs through the skin's physical barriers. Evidently, this has led to a 47% enlargement of the follicular infundibulum, which helps to further boost the flow of medication through the skin barrier. In addition, around 3 million treatments involving tissue fillers were carried out globally in 2020. Additionally, nearly 140,000 dermabrasion treatments were performed globally.
Growth Drivers
Higher Number of People Living with Acnes and Skin Problems
Acne and other skin issues are treated with laser therapy and light therapies. Moreover, there are other devices such as anti-blemish devices, facial devices, and others to treat acne. Therefore, the rising problem of acne is boosting the demand for dermatological device. The prevalence of Acne Vulgaris, a skin disorder marked by blemishes and deep scars, is 50.9% in women aged 20 to 29 and 26.3% in those aged 40 to 49, as per the statistics of the NIH.
Rise in the Skin Tightening and Rejuvenation Process
There are various cosmetic treatments that can be performed for skin rejuvenation and skin tightening, Moreover, devices such as dermabrasion ion therapy devices, thermage systems, and others are used for these skin-enhancing procedures. The number of non-surgical procedures, such as derma fillers, skin tightening, skin treatments, and others has increased by over 48% in 2021.
Launch of Technologically Advanced Dermatological Devices
Innovation of better devices and improvement of technology always create huge opportunities for the market. For instance, in 2021, Casio Computer Co., Ltd. launched the DZ-D100 DERMOCAMERA, which enables the lens to directly touch the skin and get close-up shots of the affected area along with ordinary shots, and it can be all done with the use of a single camera.
Growing Popularity of Med Spas
As of 2017, there were around 4200 med spas in the United States, and the industry was worth USD 4 billion. Moreover, by the end of 2023, there will be nearly 10,000 med spas which are likely to reach a value of around USD 2o billion.
Increasing Count of Professional Dermatologist
The higher number of dermatologists will be able to treat a larger pool of patients, which in turn is to boost the demand for dermatological devices.In the United States, there were around 3700 dermatologists practicing.
Challenges
The global dermatological devices market is segmented and analyzed for demand and supply by product into a diagnostic device, and therapeutic device. Out of the two types of products, the therapeutic device segment is estimated to gain the largest market revenue at the end of 2031, by growing at a CAGR of USD 11.2% over the projected time frame. In addition to this, the segment generated a revenue of USD 6515.8 Million in the year 2022. The growth of the segment can be attributed to the higher usage of liposuction therapy. The rising obsession of people to achieve an appealing look and to reduce unnecessary fat from their bodies has increased the popularity of liposuction. In 2020, around 300,000 liposuction procedures were carried out in America, making it the most popular cosmetic surgery. On the other hand, other therapeutic devices, such as cryotherapy devices are used in the treatment of skin cancer. Therefore, rising cases of cancer are expected to augment segment growth. In the United States, every day around 9500 people get diagnosed with skin cancer, making it the most common cancer in the U.S. Furthermore, the therapeutic device segment is categorized into lasers, electrosurgical devices, phototherapy devices, microdermabras ion devices, liposuction devices, and cryotherapy devices. Amongst these, the lasers segment is projected to garner the largest revenue of USD 6668.5 Million by the end of 2031.
The global dermatological devices market is also segmented and analyzed for demand and supply by application into diagnostic device and treatment device. Out of the two, the treatment device is to garner the maximum revenue at the end of 2031 by growing at a CAGR of 11.2% over the forecast period. Moreover, the segment generated significant revenue in the years 2017 and 2022. The treatment device segment is further fragmented into cellulite reduction, hair removal, acne, psoriasis & tattoo removal, body contouring & fat removal, skin rejuvenation, wrinkle removal & skin resurfacing, vascular & pigment lesion removal and others. The segment growth is expected on the account of growing popularity of skin tightening, skin rejuvenating, and body contouring, including breast augmentation and nose reshaping. In 2021, skin tightening was the 6th most popular non-surgical treatment, and around 10 million non-surgical skin tightening procedures were performed on females in 2020 Furthermore, in 2018, about 300 thousand of breast reshaping and nearly 200,000 nose augmentation were carried out.
Our in-depth analysis of the global dermatological devices market includes the following segments:
By Product |
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By Application |
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By End Use |
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The North American dermatological devices market, amongst the market in all the other regions, is projected to hold the largest market share of USD 9,634.6 million by the end of 2031. The region is to grow at a CAGR of 10.9% over the forecast period. The North American region is to generate USD 3,810.3 million in 2022, and USD 2,760.6 million in 2017. The growth of the market can be attributed majorly to the higher rate of tattoo removal and the increased number of people wanting cosmetic treatment and plastic surgery for various purposes, such as breast shaping, tissue fillers, eyelid surgery, and others. All these cosmetic treatments are expected to create huge demand for dermatological procedures. In 2020, around 30% of Americans have tattoos and nearly 23% of the total population want their removal which makes up around 20 million people. Moreover, in 2020, around 400,000 noses reshaping surgery, and more than 4 million minimal cosmetics minimally invasive surgery has been carried out.
DermLite
Ans: Higher prevalence of acne problems and hair loss, growing adoption of less invasive surgery, rise in the advancement of technology, and higher number of skilled dermatologists present in the world are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of 11.1% over the forecast period, i.e., 2022 – 2031.
Ans: Risk of side effects caused by plastic surgery, expensive treatment and improper insurance policy by the government estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
Ans: The major players in the market are DermLite, Aerolase, Canfield Scientific, Inc., HEINE Optotechnik GmbH & Co. KG, Image Derm Inc., Cutera Inc., Solta Medical, Cynosure, Alma Lasers, and Candella Corporation.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, application, end-use, and by region.
Ans: The treatment devices segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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