[160 Pages Report] Dermatology Devices Market By Diagnostic Device (Imaging Device, Dermatoscope, Microscope), Treatment Device (Electrosurgical, Cryotherapy, Laser), Application (Skin Cancer Diagnosis, Acne, Psoriasis, Skin Rejuvenation, Warts) - Global Forecasts to 2021

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%. Dermatology devices assist dermatologists and surgeons in diagnosing and treating skin disorders. These devices increase the accuracy levels of dermatologists while diagnosing a particular type of skin disorder. These devices are used by medical care providers such as hospitals, dermatology clinics, physician offices, and academic research institutes. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.

Market Dynamics

Drivers

Rising Incidence of Skin disorders

Increasing Awareness on Aesthetic procedures

Technological Advancement

Increasing Healthcare expenditure

Restraints

Reimbursement Uncertainties and Issues

Stringent Regulatory Policies

Opportunities

Emerging economies

Threat

Competitive Pricing by Low-cost Manufacturers, Availability of Low-cost Substitutes

Rising incidence of skin disorders and increasing awareness on aesthetic procedures drives the global dermatology devices market

Over the years, the incidence of skin cancer has risen rapidly across the globe. According to a study by the National Cancer Institute (U.S.), skin cancer represents 4.6% of all new cancer cases in the U.S. It is estimated that there will be 76,100 new cases of melanoma of the skin in 2014. The need to detect and treat such diseases at the earliest possible stage has driven the development of sophisticated and sensitive diagnostic instruments in the market. This in turn has increased competition among manufacturers and aided significantly in market growth.

The increasing demand for aesthetic procedures is driving the market for treatment devices as well as aesthetic lasers and cosmetic dermatology. These lasers are used in aesthetic procedures such as hair removal, skin rejuvenation, acne, psoriasis, tattoo removal, wrinkle removal, skin resurfacing, vascular lesions, and pigmented lesions, among other skin diseases. Lasers with longer wavelengths and better configurations have expanded the range of beauty treatments, making the aesthetic lasers industry a lucrative one. The increasing demand for aesthetic procedures is pushing the market for dermatology treatment devices.

The following are the major objectives of the study.

To define, describe, and forecast the global dermatology devices market on the basis of type, application, and region

To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific trends)

To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the overall market

To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders

To forecast the size (by value) of the market segments with respect to four main regions, namely, North America, Europe, Asia, and Rest of the World

To strategically profile key players and comprehensively analyze their market shares and core competencies2 in terms of market development and growth strategies

To track and analyze competitive developments such as partnerships, agreements, collaborations and joint ventures; mergers and acquisitions; new product launches; and research and development activities in the dermatology devices market

During this research study, major players operating in the dermatology devices market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.

To know about the assumptions considered for the study, download the pdf brochure

Major Market Developments

In September 2016, Alma Lasers launched Alma LipoLife 3G, a liposuction solution offering maximum safety and proven clinical results. The platform offers a complete, all-in-one solution covering all stages of liposuction, skin tightening, and fat grafting.

In August 2016, Michelson Diagnostics received U.S. FDA approval for its VivoSight Dx and Dynamic OCT products. VivoSight Dx is an Optical Coherence Tomography (OCT) system used for the real-time imaging of external tissues of the human body. The approval enables the company to sell these products in the American market

In November 2015, Lumenis completed the acquisition of Pollogen Ltd. (Israel). This acquisition strengthened Lumenis' portfolio of dermatology devices.

In September 2014, Cynosure completed the acquisition of Ellman International, Inc. (U.S.). The transaction was completed for a sum of USD 13.2 million in cash.

In December 2014, Cynosure entered into an agreement with El.En. S.p.A. (Italy). This agreement enables Cynosure to market and distribute MonaLisa Touch in the North America market. The MonaLisa Touch is a carbon dioxide (CO2) laser used for the treatment of vaginal atrophy.

Target Audience for this Report:

Dermatology Device Manufacturers

Dermatology Device Distributors

Healthcare Institutions (Hospitals, Medical Schools, Group Practices, Individual Surgeons, and Governing Bodies)

Various Research and Consulting Companies

Various Research Associations Related to Dermatology Devices

Scope of the Report:

This report categorizes the dermatology devices market into the following segments:

Dermatology Diagnostic Devices, by Type

Dermatoscopes

Microscopes

Imaging Devices

Dermatology Treatment Devices, by Type

Light Therapy Devices

Lasers

Electrosurgical Equipment

Liposuction Devices

Microdermabrasion Devices

Cryotherapy Devices

Dermatology Diagnostic Devices, by Application

Skin Cancer Diagnosis

Other Diagnostic Applications

Dermatology Treatment Devices, by Application

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

Other Treatment Applications

Dermatology Devices Market, by Region

North America

Europe

Asia

Rest of the World (RoW)

Critical questions which the report answers

What are new application areas which the dermatology devices companies are exploring?

Which are the key players in the market and how intense is the competition?

Customization Options:

Company Information: Detailed company profiles of five or more market players

Opportunity Assessment: A detailed report underlining the various growth opportunities presented in the market

The dermatology devices market is expected to reach USD 14.17 billion by 2021 from USD 8.22 billion in 2016, at a CAGR of 11.5%. Dermatology devices help dermatologists and surgeons in diagnosing and treating skin disorders. These devices are used by medical care providers such as hospitals, dermatology clinics, physician offices, and academic research institutes.

Dermatology devices assist dermatologists and surgeons in diagnosing and treating skin disorders. These devices increase the accuracy levels of dermatologists while diagnosing a particular type of skin disorder.

On the basis of the type of diagnostics 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 aesthetic procedures.

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 of the market. The large share of this segment can be attributed to technological advancements and increasing incidence of skin diseases.

Based on region, the global dermatology devices market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). However, Asia is expected to witness the highest CAGR during the forecast period, with the growth in this market centered at Japan, China, and India. Growth in the Asian region is primarily driven by the rising incidence of skin diseases, increasing healthcare expenditure, and increasing awareness regarding aesthetic procedures.

Skin cancer diagnosis, hair removal and skin rejuvenation applications drive the growth of dermatology devices market

Skin cancer diagnosis

Skin cancer diagnosis is one of the most important applications of dermatology diagnostic devices. Over the years, the prevalence of cancer has increased rapidly across the globe. According to a study by the National Cancer Institute, skin cancer represents 4.6% of all new cancer cases in the U.S., and it is estimated that there will be 76,100 new cases of melanoma of the skin in 2014. This is the largest and the fastest-growing application segment in the dermatology diagnostic devices market. The large share of this segment can be attributed to the rising incidence of skin disorders and increasing awareness regarding aesthetic procedures.

Hair removal and skin rejuvenation

Dermatologists use lasers and light-based sources to safely and effectively remove unwanted hair with low patient discomfort and minimal complications as compared to other methods. Laser devices make use of a strong, pulsating light to remove unwanted hair. Intense pulse light (IPL), diode laser, Nd:YAG laser, and ruby lasers are the most commonly used devices for hair removal procedures. According to the American Society for Aesthetic Plastic Surgery, Americans spent over USD 11 billion on various cosmetic procedures in 2012, of which, USD 367 million was spent on procedures such as laser hair removal. Furthermore, as per the statistics from the American Society for Dermatologic Surgery (ASDS), ASDS dermatologists performed nearly 464,000 laser hair removal procedures in 2013, as compared to 318,000 in 2012.

Skin rejuvenation helps diminish imperfections on the skin and reduces the effects of aging, sunburn, and other skin disorders. Nonablative laser rejuvenation, intense pulsed light (IPL), photodynamic therapy (PDT), fractional laser rejuvenation, and ablative laser resurfacing are some of the commonly used laser and light techniques for skin rejuvenation. Of these, the most popular medical devices for nonablative skin rejuvenation are visible light lasers, IPL, and radiofrequency devices. According to the American Society for Aesthetic Plastic Surgery, in 2015, there were nearly 2,562,009 skin rejuvenation nonsurgical procedures performed in the U.S., as compared to 2,088,442 skin rejuvenation nonsurgical procedures in 2014. This represented a 473,567 increase in the number of skin rejuvenation nonsurgical procedures performed in the U.S. from 2014 to 2015.

Critical questions the report answers:

Where will all these developments take the industry in the mid to long term?

What are the upcoming industry applications for dermatology devicess?

The presence of stringent regulations for the validation of dermatology devices presents challenges for companies in this market. Stringent regulatory frameworks and the time-consuming nature of approval processes may deter research investments in this market and delay new product launches. Such situations limit the growth of the dermatology devices market.

Changing government policies, the enactment of healthcare reforms, and unfavorable economic conditions in developed countries are all factors responsible for uncertainties in dermatology diagnostic test reimbursements. The global economic downturn in recent years has led to major cuts in Medicaid and the State Children�s Health Insurance Program (SCHIP) funding in the U.S. As long as reimbursement issues are unresolved, the dermatology devices market will not gain pace as expected.

The major players in the dermatology devices market include Alma Lasers, Ltd. (Israel), Cutera, Inc. (U.S.), Cynosure, Inc. (U.S.), Lumenis, Ltd. (Israel), and Valeant Pharmaceuticals (Canada).

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