Dermatology Devices Market Report | Size, Growth, Demand, Scope, Opportunities and Forecast 2022-2032
The global dermatology devices market stands at US$ 5.1 Bn as of now and is slated to reach US$ 9.3 Bn by the year 2032 at a CAGR of 6.5% between 2022 and 2032 – Future Market Insights
Dermatology
devices are being used by several medical service providers like hospitals,
physician offices, dermatology clinics, and academic research institutes to
check the growing incidences of skin ailments. Also, growing awareness about
aesthetic procedures is there to add. On the other hand, developing economies
are witnessing a noticeable expansion in healthcare infrastructure.
Moreover,
as per the UN Population Division, the geriatric population is expected to reach
2.1 Bn by the year 2050. In other words, 22% of the global population would be
aged 60 and above by the year 2050. It is a known fact that aging is linked
with the skin’s progressive deterioration. As an outcome, aesthetic procedures
like skin tightening and anti-wrinkle treatment are expected to take the
dermatology devices market by storm in the years to come.
To learn more about this report: https://www.futuremarketinsights.com/reports/dermatology-devices-market
The American Society for Aesthetic Plastic Surgery
has stated that the year 2019 alone saw 204,745 liposuction procedures being
performed in people aged between 51 and 64. Plus, over 35K procedures were
performed amongst people over 65 years of age. It further states that the year
2020 saw over 38K procedures in the ones aged between 55 and 69 and 3K+
procedures in those aged above 70.
The last 10 years have also seen a growing demand for
non-invasive and minimally invasive aesthetic procedures over conventional
surgical procedures. The major advantages offered by non-surgical
alternatives/minimally invasive procedures include reduced scarring, less pain,
and faster recovery.
Aesthetic procedures accelerating the dermatology
devices market include cosmetic dermatology and aesthetic lasers. The
application areas of aesthetic lasers include skin rejuvenation, hair removal,
treating psoriasis, acne, removal of wrinkles, removal of tattoos, vascular
lesions, skin resurfacing, and pigmented lesions. YAG and CO2 laser systems are
the ones in most demand. They could be sold for over US$ 50K each and have been
immensely popular amongst the users.
At the same time, the fact that dermatology procedures come with
several probable side-effects can’t be ignored. These side-effects could be
lightening or darkening of the affected skin after laser hair removal. Also,
there could be redness or edema. Though red light therapy is looked upon as
being safe and painless, there have been various complaints raised in this
regard. For instance – RLT units resulting in blisters and burns. The
dermatology devices market is likely to witness turbulence mentioned above in
the forecast period.
Key Takeaways from Dermatology Devices Market
- North
America holds more than 80% of the market share due to a sizable
population opting for dermatology procedures in the wake of growing
incidences of rosacea and eczema.
- Japan
leads the Asia-Pacific, accounting for over 40% of its market share due to
rising geriatric population.
- China
is expected to witness a CAGR of ~7% in the dermatology devices market
going forward.
- With
rising occurrences of skin issues, the UK holds 12% of the Europe’s share
and the status quo is expected to remain the same even in the forecast
period.
- Laser
accounts for more than 40% of the overall market share.
- Application-wise,
skin rejuvenation holds ~20% of the market share.
- By
end-user, specialty dermatology clinics holds more than 38% of the market
share.
“With aesthetic appeal getting prioritized, the global
dermatology devices market is poised to grow inadvertently in the forecast
period” says
an analyst from Future Market Insights
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