Dermatology Medical Device Market Trends, Share, regions, manufacturers, Top Countries Analysis 2021 – 2027 | Says Kenneth Research

Kenneth Research recently added a report on Dermatology Medical Device Market in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on Dermatology Medical Device Market, along with the compound growth rate (CAGR) of the market for a projected period between 2021 and 2027. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.

Global Dermatology Medical Device Market Overview

Dermatology medical devices are used in clinics and hospitals for the diagnosis of skin-related diseases. These devices are also used to detect skin cancer. The global market for dermatology devices is anticipated to be one of the staunchest markets in the near future. The introduction of various compact dermatology medical devices in the global market is swelling the demand among hospitals and specialty dermatology clinics.

“The Final Report will cover the impact analysis of COVID-19 on this industry .”

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The market of dermatology devices is majorly driven on the back of advanced and user-friendly devices. Positive growth in healthcare sectors backed by increasing investments in research and development is likely to help the manufacturers to introduce cost-effective and enhanced dermatology devices. These factors further strengthened the market of dermatology medical devices across the globe.

Market size and forecast

The market of dermatology devices was worth USD 6.6 Billion in 2015 and the market is further anticipated to reach USD 16.8 Billion by 2023. Further, the global dermatology device market is anticipated to expand at a CAGR of 10.6% over the forecast period i.e. 2016-2023. The hair removal segment is expected to reach USD 935.2 Million by 2023 on account of the rising prevalence of polycystic disorders in women.

The market of dermatology devices is primarily impelled by the rising consumer awareness towards advanced dermatology devices. However, the rising demand for dermatology devices for cosmetic surgery is driving the growth of the dermatology device market globally.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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The market of dermatology devices is dominated by North-America followed by Europe & Asia-Pacific region. Rising awareness among the population and increasing demand for cosmetic surgery in the region of North-America is fostering the growth of the dermatology device market. Likewise, increasing healthcare expenditure in the Asia-Pacific region makes it the fastest growing market across the globe. Rising incidents of skin diseases and increasing geriatric population across the region are expected to spur the demand for dermatology devices during the forecast period i.e. 2016-2023.

Urbanization and increasing penetration of smart cities across the globe are increasing the demand for the advanced healthcare sector to minimize the burden of diseases. Awareness among the population towards skin diseases is probably increasing the patients in hospitals and clinics for diagnosis and treatment purposes. Hospitals and clinics are shifting towards sophisticated and advanced diagnosis and treatment technology devices to provide a better cure and treat the patients. Thus, dermatology devices are in demand in various specialty dermatology clinics and hospitals.

Key Players

The key players of dermatology device market are as follows:

Valeant Pharmaceuticals International Inc.
Company Overview
Key Product Offerings
Business Strategy
SWOT Analysis
Financials
Cynosure Inc.
Lumenis
Syneron Candela Ltd.
Avita Medical Ltd.
Lutronics Corporation
Carl Zeiss
Alma Lasers, Ltd.
Cutera, Inc.
Solta Medical, Inc.
and Others

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Key Answers Captured in Report?

  • Which geography would have better demand for products/services?
  • What are the strategies adopted by big players in the regional market?
  • Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
  • What is the current & expected market size in the next five years?
  • What is the market feasibility for long term investment?
  • What opportunity the country would offer for existing and new players in the market?
  • What is the risk involved for suppliers in the geography?
  • What factors would drive the demand for the product/service in the near future?
  • What is the impact analysis of various factors in market growth?
  • What are the recent trends in the regional market and how successful they are?

Growth Drivers and challenges

An increase in aging population is predicted to trigger the prevalence of skin diseases such as melanocytes. Apart from this, rising cases of skin ulcers due to lack of awareness towards hygiene are some of the factors driving the market of dermatology devices across the globe.

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Additionally, factors such as the introduction of cost-effective and portable dermatology devices and rising preferences by physicians towards dermatology devices are prompting the demand for dermatology devices. The rising popularity of dermatology devices on account of its features and wide-scale application for skin diseases are expected to bolster the demand for dermatology devices over the forecast period i.e. 2016-2023.

The growing prevalence of skin disorders is increasing the need for diagnosis and treatment. The dermatology devices offer the diagnosis and treatment facilities which help the physicians to provide appropriate and effective care to the patients. On the back of these features, dermatology devices are gaining traction among physicians and hospitals.

Moreover, increasing healthcare spending owing to growing concern towards the cure and treatment of skin disorders, emphasis on early diagnosis and rising demand for cosmetic surgery are some of the major key elements swelling the demand for dermatology devices.

However, high cost of treatment by dermatology devices, lack of awareness in under-developed nations, presence of complexities with dermatology devices, availability of low-cost substitute medication facilities and lack of skilled healthcare physicians are some of the factors restraining the market of dermatology devices across the globe.

Likewise, the presence of stringent regulations from the government authorities on the manufacturing of dermatology devices is curbing the market growth by restricting the entry of new players into the market of dermatology devices.

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