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Dermatology Devices Market Size

Report ID: GMI2644
Published Date: Jan 2023
Report Format: PDF

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Dermatology Devices Market Size

Dermatology Devices Market size was valued at more than USD 11 billion in 2022 and is estimated to exhibit significant growth at over 10% CAGR from 2023 to 2032 owing to the rising inclination towards cosmetic procedures in developed nations.

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The growing awareness among people about the importance of physical appearance is driving the demand for dermatological devices. Moreover, the increasing availability of advanced healthcare facilities, rising healthcare spending, and soaring demand for cosmetic procedures among women are the additional factors that are anticipated to fuel the dermatology devices market expansion.

Moreover, technology-oriented businesses place a strong emphasis on the development of advanced dermatology tools to provide more effective solutions. Additionally, the growing popularity of AI-powered dermatology applications with easy online access to high-quality skin treatment and expert dermatologists through smartphones is projected to boost the industry size.

Dermatology Devices Market Report Attributes
Report Attribute	Details
Base Year:	2022
Dermatology Devices Market Size in 2022:	USD 11 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10%
2032 Value Projection:	USD 28.5 Billion
Historical Data for:	2018 to 2022
No. of Pages:	198
Tables, Charts & Figures:	381
Segments covered:	Product, Application, End-use, and Region
Growth Drivers:	Rising incidence of skin associated diseases and skin cancer worldwide Increasing expenditure on skin care in developing countries Advances in technology of skincare devices Growing demand for cosmetic procedures in developed countries
Pitfalls & Challenges:	Excessive equipment cost Stringent regulatory landscape

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Challenging regulatory environment to hamper industry revenue

Strict regulations governing the use of dermatological medical devices and the mandatory requirement for manufacturers to fulfill several quality standards limits product clearance and launch in the significant market, further impeding the business progress. However, mounting access to dermatology treatment is likely to aid product penetration.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for dermatology devices was worth over USD 11 billion in 2022 and is projected to record significant growth at over 10% CAGR through 2032 driven by the growing preference for cosmetic procedures across developed nations.

Psoriasis segment of the dermatological devices market is estimated to expand at a rate of above 10% CAGR through 2032 backed by surging incidences of the condition worldwide.

Europe dermatology devices market is expected to surpass a valuation of USD 7.5 billion by 2032 owing to the growing prevalence of skin cancer.

Alma Lasers Ltd., Hologic, Inc., Cynosure Inc., Bruker Corporation, Carl Zeiss, Michelson Diagnostics Ltd. (VivoSight), Olympus Corporation, Canfield Scientific Inc., Biolitec AG, Cutera, Inc., Image Derm Inc., Lumenis Ltd., are some major companies functioning in industry.