Dermatology Devices Market Worth $11.3 Billion By 2027

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Overview of This Study:

The study involved four major activities to estimate the current size of the dermatology devices market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Major Growth Driving Factors:

The growth in this market is expected to be driven by the rising incidence of skin disorders, increasing awareness of aesthetic procedures, and technological advancements. However, the stringent regulatory policies for medical devices may hinder the growth of this market.

Projected Revenue Surge:

The global dermatology devices market is projected to reach USD 11.3 billion by 2027 from USD 6.2 billion in 2022, at a CAGR of 12.7% during the forecasted period.

Market ...
... Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the dermatology devices market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
# All percentage shares split, and breakdowns have been determined using secondary sources and verified through primary sources.

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Data Triangulation:

After arriving at the overall market size-using the market size estimation processes-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the dermatology devices industry.

Research Methodologies Followed for This Study:

Primary Research:

Several stakeholders such as dermatology device manufacturers, vendors, distributors, and physicians from hospitals and clinics were consulted for this report. The demand side of this market is characterized by increasing preference for dermatology procedures, side effects of dermatology procedures, growing geriatric population and the subsequent increase of dermatology procedures, and increasing emphasis on improving technology. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Secondary Research:

In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to identify and collect information for this study.

Recent Developments in the Global Topical Drug Delivery Market:

# In 2022, Cynosure, Inc. collaborated with Clayton, Dubilier & Rice and announced a new investment of USD 60 million from lead investor Clayton, Dubilier & Rice

# In 2021, Lumenis entered into a definitive agreement to sell the Lumenis Surgical Business to Boston Scientific. The acquisition of Lumenis Surgical (including its robust product portfolio, global team, and the Israeli surgical laser center of excellence) represents a major milestone for the Lumenis team and will enable Boston Scientific to enhance the execution of its urology strategy.

# In 2022, Candela collaborated with The Vascular Birthmarks Foundation, Dr. Giacomo Colletti, Laserplast, this collaboration enabled more than 30 pre-qualified patients from 13 countries to receive free laser treatments in Milan

# In 2022, Canfield Scientific, Inc. acquired Medici Medical s.r.l. to create Canfield Scientific s.r.l., open a state-of-the-art facility near Modena, and launch a medical dermatology education program.

# In 2021, Alma launched Alma PrimeX, a non-invasive platform for body contouring and skin tightening.

# In 2021, Alma launched Alma Hybrid, which exclusively combines 3 powerful energy sources to deliver effective results.

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Restraint: Clinical risks and complications associated with dermatology procedures

In the last two decades, dermatology procedures have become increasingly popular. The market has witnessed significant growth in the demand for aesthetic treatments owing to the rise in the number of doctors and surgeons providing safe and effective dermatology treatments and the launch of technologically advanced products for the same. However, dermatology procedures are associated with various possible side effects. Patients undergoing aesthetic treatments may face several risks and complications after or during the procedure. Some of these risks are listed below:

# Pigment changes: Laser hair removal might darken or lighten the affected skin. These changes might be temporary or permanent. Skin lightening primarily affects those who do not avoid sun exposure before or after treatment and those who have darker skin
# Skin irritation: Laser hair removal can cause temporary discomfort, redness, and edema. Any signs and symptoms usually go away after a few hours

Other issues related to aesthetic treatments include anesthesia-related complications, organ damage, and infections. Red light therapy is thought to be painless and safe. However, there have been complaints of RLT units causing burns and blisters. Burns were reported in a few people after they fell asleep with the unit on, while others were burned by damaged wires or gadget corrosion. Although less harmful to the eyes than typical lasers, red light therapy may necessitate the use of eye protection. These problems are expected to hamper the adoption of dermatology treatments.

Geographical Growth Dynamics:

North America commanded the largest share of the dermatology devices in 2021.

Based on region, the dermatology devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2021, North America has the largest share of the dermatology devices market. The large share of this regional segment can be attributed to factors such as the rising incidence of skin diseases, increased awareness about aesthetic procedures, rapid increase in healthcare expenditure, easy accessibility to advanced technologies, and the strong presence of market players in the region.

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