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Dermatology Devices Market size to exceed $28.5Bn by 2032

  • Published Date: February 9, 2023

Dermatology Devices Market size is anticipated to surpass USD 28.5 billion in revenue by 2032, according to a new research report by Global Market Insights Inc.

The high prevalence of skin cancer, resulting from early diagnosis, increased sun exposure, and longer life expectancy, is a major factor propelling the scenario for dermatology devices. As per the American Cancer Society, in the U.S., about 99,780 new melanoma cases were estimated to be reported in 2022 (about 57,180 in men and 42,600 in women). Furthermore, the rising rate of skin-associated illnesses brought on by an improper skin care routine, increasing pollution, and unhealthy eating habits is projected to support business progression.

Availability of superior quality diagnostic devices to augment industry revenues

Dermatology devices market is segmented into diagnostic devices and treatment devices. The diagnostic devices segment accounted for a valuation of over USD 6 billion in 2022. Diagnostic devices include imaging devices, dermatoscopes, and biopsy devices. The increasing availability of superior-quality dermatology diagnostic devices is positively influencing segment progress.

The escalating adoption of skin cancer chemotherapy procedures is foreseen to escalate the demand for dermatology diagnostic devices in the forthcoming years. For instance, skin cancer accounts for more than 80% of all new cancer cases diagnosed in Australia each year.

Growing popularity of optical devices to propel product usage for hair removal

Dermatology devices market share from the hair removal segment is slated to depict a 10% CAGR over 2023-2032. Hair removal using optical devices has emerged as a popular mainstream treatment, and technical developments are projected to accelerate segment expansion. In addition, the rise in the number of initiatives to raise consumer awareness is expected to enhance product uptake for hair removal applications.

For instance, medical device specialist Sensus Healthcare, Inc. introduced the portable Silk by Sensus hair removal system with blended wavelengths in an effort to promote skin health and to provide patients with the most advanced technologies.

Browse key industry insights spread across 198 pages with 363 market data tables & 18 figures & charts from the report, “Dermatology Devices Market Size By Product (Diagnostic Devices {Imaging Devices, Dermatoscopes, Biopsy Devices}, Treatment Devices {Light Therapy Devices (LED Therapy), Lasers, Microdermabrasion Devices, Cryotherapy Devices, Electrosurgical Equipment, Liposuction Devices]}, By Application (Skin Cancer, Skin Rejuvenation, Hair Removal, Body Contouring and Skin Tightening, Psoriasis), By End-use (Dermatology Centers, Hospitals, Clinics), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

Growing inclination of patients toward day surgeries to stimulate clinics segment value

Dermatology devices market is segmented into dermatology centers, hospitals, clinics, and others. The clinics segment is forecast to expand at a 10% growth rate between 2023 and 2032. The growing patient preference for day surgeries to reduce hospital expenses, minimally invasive operations, and cost-effective procedures, is anticipated to drive segment progress. In the U.S., as of 2023, there are 5,353 dermatologist firms. Subsequently, the expansion of the dermatology business in leading geographies is likely to favor segment development.

Mounting adoption of aesthetic skin treatments to complement MEA industry revenue

Middle East & Africa dermatology devices market is poised to exhibit more than 8.5% CAGR from 2023 to 2032. The major factor driving the regional market progression is the high demand for dermatology, which is stimulating the popularity of cosmetic skin treatments in key countries such as Saudi Arabia. Furthermore, in recent years, plastic surgeries in the UAE have witnessed a surge, transforming the country into a global hub for the field and facilitating the medical tourism sector boom, which is likely to amplify regional industry revenue.

Advancements in radiofrequency technologies to define the industry outlook

Alma Lasers Ltd., Hologic, Inc., Cynosure Inc., Bruker Corporation, Carl Zeiss, Michelson Diagnostics Ltd. (VivoSight), Olympus Corporation, Canfield Scientific Inc., Biolitec AG, Cutera, Inc., ImageDerm Inc., Lumenis Ltd., and others are some prominent enterprises operating in the dermatology devices market.

Authors: Sumant Ugalmugle

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