(Health-NewsWire.Net, January 10, 2020 ) The global dermatology devices market is expected to reach USD 14.17 Billion by 2021 from USD 8.22 Billion in 2016, at a CAGR of 11.50% during the forecast period.
The rising incidence of skin disorders, increasing awareness on aesthetic procedures, technological advancements, and increasing healthcare expenditure are the major factors driving the growth of this market.
The global dermatology devices market is segmented into diagnostic devices (by type and application) and treatment devices (by type and application). Based on the type of diagnostic devices, the dermatology devices market is segmented into dermatoscopes, microscopes, and imaging devices. The imaging devices segment is expected to account for the largest share of the market during the forecast period. The large share of this segment can be attributed to technological advancements and increasing awareness about the available aesthetic procedures in the market.
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On the basis of the type of treatment devices, the dermatology devices market is segmented into light therapy devices, lasers, electrosurgical equipment, liposuction devices, microdermabrasion devices, and cryotherapy devices. In 2016, the light therapy devices segment is expected to account for the largest share primarily due to the increasing incidence of skin diseases and technological advancements.
On the basis of the application of diagnostic devices, the dermatology devices market is segmented into skin cancer diagnosis and other diagnostic applications. The skin cancer diagnosis segment is expected to account for the largest share in 2016. The rising incidence of skin disorders is the major factor driving the growth of this market.
On the basis of the application of treatment devices, the dermatology devices market is segmented into hair removal; skin rejuvenation; acne, psoriasis, and tattoo removal; wrinkle removal and skin resurfacing; body contouring and fat removal; vascular and pigmented lesion removal; warts, skin tags, and weight management; and other treatment applications. The other treatment applications segment is expected to account for the largest share of the market during the forecast period, primarily due to the increasing awareness about aesthetic procedures and technological advancements.
Based on region, the global dermatology devices market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to grow at the highest CAGR during the forecast period. Growth in this regional segment is driven by factors such as the rising incidence of skin diseases, increasing healthcare expenditure, and increasing awareness regarding aesthetic procedures.
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Some of the major players operating in the dermatology devices market are Alma Lasers, Ltd. (Israel), Cutera, Inc. (U.S.), Cynosure, Inc. (U.S.), Lumenis, Ltd. (Israel), and Valeant Pharmaceuticals International, Inc. (Canada).
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