Did you know that the global dermatology devices market will grow substantially in the coming years? Triton Market Research predicts this market will be worth $32.33 billion by 2030, more than quadruple its 2022 valuation of $12.13 billion. This growth is projected at a CAGR of 13.06%, making it an exciting time for the industry.
Over the past few years, more people have become skin-health conscious. Thus, the demand for dermatology devices that treat various skin conditions has increased.
Fortunately, medical technology is also fast-advancing, creating new dermatology innovation prospects. Given these advances, dermatology is predicted to grow and advance in the coming years.
What are the market analysis and forecasts indicating?
Market Segmentation
Triton has conducted a thorough analysis of the dermatology devices market. For a complete understanding of market dynamics, the study segments the market by numerous factors:
- User: Including Surgical Centers, Dermatology Clinics, Hospitals, and Spa Clinics.
- Medical Device Type: Comprising Medical Diagnostic Devices and Medical Treatment Devices.
- Diagnostic Device: Encompassing Equipment (Biopsy Devices, Microscopes, Dermatoscopes, Other Imaging Devices) and Usage (Skin Cancer Diagnosis, Other Diagnostic Usages).
- Treatment Device: Covering Equipment (Light Therapy Devices, Microdermabrasion Devices, Lasers, Electrosurgical Equipment, Liposuction Devices, Cryotherapy Devices) and Usage (Wrinkle Removal and Skin Resurfacing, Body Contouring and Fat Removal, Tattoo Removal, Vascular and Pigmented Lesion Removal, Psoriasis, Skin Rejuvenation, Hair Removal, Cellulite Reduction, Acne, Other Usages).
- Regional Outlook: Analysing Europe, Middle East and Africa, North America, Asia-Pacific, and Latin America.
Market Trends
The ever-increasing demand for aesthetic procedures is a key factor propelling the dermatology devices market to new heights. Apart from that, the advancements in dermatology technology and the rising prevalence of skin disorders are also contributing to its growth.
However, dermatological procedure risks and regulatory constraints remain challenges for the market. But overall, it’s an exciting time for the dermatology industry.
Regional Insights
North America is leading the charge when it comes to dermatology devices. Yes, it’s true! Experts say that this is due to a rise in skin conditions and a growing desire for cosmetic treatments.
So, it would be wise for you, as a skin-conscious aesthetic dermatologist, to keep up with developments in this promising industry.
What promising opportunities does its future hold?
Over the next few years, the market for laser systems is expected to grow significantly. This is due to several reasons, including an ageing population, a rise in medical tourism, and more people choosing minimally invasive procedures. Despite this, the market might have certain challenges due to strict regulations and restrictions on laser systems, which could hinder its progress.