Global Dermatology Devices Market, by Product Type (Laser Type (Fractional, Diode, InfraRed 1319 nm, Alexandrite laser, Nd:YAG 1064 nm, Pulsed, Potassium Titanyl Phosphate (KTP)), IPL, RF Devices, Microdermabrasion devices and Others),by Device type (Treatment device and Diagnostic device), by Application (Vascular Lesions, Scar Removal, Tattoo removal, Hair removal, Wrinkle Removal, Acne Treatment and Other), by End User (Hospitals and Specialty Dermatology Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 5,299.7 Million in 2022 and is expected to exhibit a CAGR of 7.7 % during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Major players in the global dermatology devices market are focused on research and development (R&D) to expand their product portfolio. For instance, in June 2019, AVITA Medical, a regenerative medicine company, announced new preliminary RECELL Autologous Cell Harvesting Device (RECELL System) data at the 24th Annual World Congress of Dermatology Meeting. The RECELL system is used in the treatment of vitiligo and facial acne scars.
Global Dermatology Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions.
Market for dermatology devices was significantly impacted by the COVID-19 outbreak. The manufacturing and supply chain of the luxury and beauty industry had to deal with issues including meeting inconsistent demand for goods and services and timely product delivery to customers. Market experienced a brief period of negative growth, which was attributed to a number of factors, including a decrease in product demand from important end-users, limited operations in the majority of industries, the temporary closure of important end-user facilities (including beauty salons and spas), disrupted supply chains, and difficulties in providing crucial/post-sales services because of lockdowns. In 2020, the market for dermatology devices was negatively impacted by the COVID-19 outbreak. Cutera, Inc. which is one of the key players operating in the market, reported a revenue loss of 18.7% between 2019.
Global Dermatology Devices Market: Key Developments
In August 2020, LASEROPTEK Co., Ltd., which is a global company developing and manufacturing aesthetic and medical laser systerms , received the received U.S. Food and Drug Administration (FDA) approval for its Pallas laser involved in treating vitiligo, leukoderma, and others.
In June 2018, AVITA Medical, which is a clinical and commercial company developing and marketing a range of respiratory and regenerative products, announced that it has entered into an agreement to acquire a manufacturing facility to support the planned U.S. launch of the RECELL Autologous Cell Harvesting Device in the treatment of burns.
Browse 25 Market Data Tables and 29 Figures spread through 170 Pages and in-depth TOC on “Global Dermatology Devices Market”- Forecast to 2030, Global Dermatology Devices Market, by Product Type (Laser Type (Fractional, Diode, InfraRed 1319 nm, Alexandrite laser, Nd:YAG 1064 nm, Pulsed, Potassium Titanyl Phosphate (KTP)), IPL, RF Devices, Microdermabrasion devices and Others),by Device type (Treatment device and Diagnostic device), by Application (Vascular Lesions, Scar Removal, Tattoo removal, Hair removal, Wrinkle Removal, Acne Treatment and Other), by End User (Hospitals and Specialty Dermatology Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/dermatology-devices-market-117
Moreover, major players in the global dermatology devices market are also focused on launching new products to expand their product portfolio. For instance, in March 2020, Lumenis Ltd., which is the medical and aesthetic lasers and light-based technology company, launched Stellar M22 used for the treatment of vascular lesions, skin texture, tone, and hair removal.
Key Takeaways of the Global Dermatology Devices Market:
- Global dermatology devices market is expected to exhibit a CAGR of 7.7 % during the forecast period due to the increasing adoption of strategies such as acquisitions and partnerships by the key players operating in the market. For instance, in January 2022, STRATA Skin Sciences, Inc., which is a medical technology company, announces acquisition of acne treatment device assets from Theravant Corporation, which develops, produces, markets and sells high quality, affordable products for the medical aesthetic marketplace.
- Among end user, specialty dermatology clinics segment is estimated to hold a dominant position in the global dermatology devices market over the forecast period, owing to the increasing number of dermatologists in the region. For instance, according to data published on May 2021, on U.S. bureau of labor statistics, stated that in 2021 there were approximate 9,230 dermatologist in the U.S.
- On the basis of application, hair removal segment is estimated to account for the largest market share in the global dermatology devices market over the forecast period, owing to increasing number of hair removal procedures. For instance, according to the International Society of Aesthetic Plastic Surgery, laser hair removal witnessed a 76.1% increase in 2020 as compared to 2019.
- Major players operating in the global dermatology devices market include Valeant Pharmaceuticals International Inc., Lumenis, Ltd., Hologic, Inc., Syneron Candela Ltd., Avita Medical Ltd., Alma Lasers, Ltd., Lutronics Corporation, Beijing Toplaser Technology Co. Ltd., Shanghai Fosun Pharmaceutical Group Co. Ltd., and Cutera, Inc.
