The global dermatology devices market will grow at a compound annual growth rate (CAGR) of 7.8% during the forecast period from 2021 to 2030.
Dermatology devices are used in diagnosing and treating skin ailments. The devices are used in skin-treating surgeries such as topical chemotherapy, Mohs micrographic surgery, skin biopsy, cryosurgery, photodynamic therapy, and electrodessication & curettage.
The increasing prevalence of diseases and surgical treatments are driving the growth of the global dermatology devices market. Furthermore, the growing pervasiveness of skin disorders is expected to boost the demand for surgeries. This collectively would enhance the demand for dermatology devices. Moreover, growing investments in the healthcare sector would help the market generate higher revenues during the forecast period.
Skin cancer cases have been rising rapidly across the globe. The study by National Cancer Institute (U.S.) indicates that skin cancer accounts for 4.6% of the overall cancer cases in the U.S. Such rapid expansion of skincare diseases would fuel the demand for dermatology devices.
Moreover, the growing demand for aesthetic procedures is driving the market for cosmetic dermatology. Laser devices are used in various aesthetic procedures, like psoriasis, skin resurfacing, tattoo removal, skin rejuvenation, hair removal, acne, wrinkle removal, vascular lesions, and pigmented lesions. The increasing prevalence of beauty treatments is attributed to contribute to the market growth.
On the contrary, dermatology validation processes and strict regulations by various authorities have become challenging for the companies to survive in the market. Changing government policies have generated various obstacles for businesses. Thus, this time-consuming approval process is expected to hinder the growth of the overall market.
Regional Segmentation
North America is expected to contribute with the maximum share in the global dermatology device market. Various factors like ongoing improvements in the healthcare infrastructure, expanding services in developing countries, and rising awareness amongst the population are expected to accelerate the market growth in the coming years.
Moreover, the Asia-pacific region is expected to witness significant growth in the regional market. The region is witnessing notable growth in Japan, China, and India, owing to the rising pervasiveness of skin diseases, increasing healthcare expenditure, and growing awareness amongst the population regarding skin diseases and their cures.
COVID-19 Impact
The COVID-19 pandemic halted the growth of the overall market. Healthcare workers, equipment, and facilities all shifted their energy to control the spread of deadly disease. This global epidemic caused a severe decline in the growth of the global dermatology device market. Pharmaceutical and medical supply chains had to cope with severe challenges which reduced the demand for dermatology devices. The pandemic has forced the population to look over their health and avoid hospitals to evade the risk of exposure. The COVID-19 infection is expected to halt surgical aesthetic procedures in the upcoming years, consequently affecting the demand for dermatology devices.
Apart from that, limitations on the import and export of products further inhibited the growth of the global dermatology devices market during the pandemic.
Key Market Segments
By product type
By application type
By end-user type
By Region
Key Players
