The market size of dermatology equipment will reach USD 16.13 billion by 2030

VANCOUVER, BC, 1 February 2023 /PRNewswire/ — Dermatology Equipment Market Size Reached USD 5.46 billion in 2021 and is expected to register a CAGR of 12.7% during the forecast period, according to latest analysis by Emergen Research. A key factor driving market revenue growth is increasing incidence of skin diseases. Public health is seriously affected by skin problems. Approximately between 70% and 30% of individuals worldwide are affected. Chronic and acute skin problems affecting individuals of all ages and socio-economic backgrounds are more than 3000 in number. In terms of years lost to disability, skin diseases came in as the fourth most common non-fatal burden. In the coming years, there will thus be a greater need for diagnostics and treatment technologies for the treatment of various skin disorders.

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Drivers:

The demand for dermatological devices has increased significantly over the years due to high-tech innovations in aesthetic procedures and increasing FDA approvals of such new technologies. For example on 19 October 2022, the US Food and Drug Administration (FDA) approved the use of Vivace Ultra, the next generation and the future of individualized aesthetics. The device is intended for hemostasis and electrocoagulation operations in general surgical and dermatological procedures. Furthermore, analysis of images of suggestive symptoms and rapid creation of a comprehensive, microscopic image of the skin demonstrate the potential of a new virtual histology technique. It achieves this by eliminating a number of commonly used processes in diagnosis, such as tissue fixation, skin biopsy, processing, sectioning and histochemical staining.

Limitations:

There are numerous problems and difficulties for the dermatological device industry. Stringent medical device (MD) regulatory policies are one such factor. For example, market revenue growth will be affected by the new Medical Device Regulation (MDR) (Regulation EU 2017/745), which will have a significant impact on MD suppliers. The reclassification of medical device applications and software results in tighter regulatory oversight plus documentation standards, such as clinical documentation. To the benefit of patients, the adjustments are expected to improve quality.

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Growth forecasts:

The dermatology equipment market is expected to register a CAGR of 12.7% during the forecast period and revenue is expected to increase from USD 5.46 billion in 2021 to USD 16.13 billion in 2030. Devices that can be used at home to solve dermatological and cosmetic problems are becoming increasingly popular. Lasers, intense pulsed light, radiofrequency, ultraviolet B phototherapy, and light-emitting diodes are examples of commercially available equipment. Home-based treatments are becoming increasingly popular as they are convenient and affordable. Several FDA-approved dermatological home care products, the majority of which involve light, are already available on the market due to high consumer demand. This shift to home care could be accelerated even further by recent developments in teledermatology.

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Current trends and innovations:

The dermatology equipment industry is undergoing gradual change as a result of new technology and innovations. Dermatologists will soon be able to detect and treat skin diseases more accurately and successfully thanks to digital technology. The use of lasers to improve skin texture is one of the important developments at the moment. It can be achieved using a number of laser procedures, including laser hair removal, laser resurfacing and laser vein therapy. Virtual Reality (VR), artificial intelligence (AI), and other aesthetic procedures are being used in cosmetic dermatology as technology improves. VR can be used to mimic the effects of therapies, AI has the potential to diagnose skin problems and suggest solutions, and cosmetic procedures can be used to improve the appearance of skin.

Strategic initiatives:

Major companies included in the market report are Alma Lasers, Cutera, Cynosure, Lumenis Be Ltd., Bausch Health Companies Inc., Bruker, ZEISS International, Genesis Biosystems, Inc., HEINE Optotechnik GmbH & Co. KG, Michelson Diagnostics Limited.

• On 9 March 2022, Miiskin, a digital skin health platform, made its technology available for free to university academics, promoting digital collaboration in new UK dermatology research. It will enable skin care research participants to use the Miiskin app and communicate with dermatology researchers through a secure online portal to contribute high-resolution skin photographs and other structured patient-reported information.

• On 19 May 2022, a multi-target collaboration in medical dermatology was launched by the German company Evotec and the Spanish skin health expert Almirall. The company’s research and development efforts are focused on finding and creating innovative therapies for severe skin diseases, including immune-mediated inflammatory diseases such as atopic dermatitis and non-melanoma skin cancer such as basal cell carcinoma.

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Research scope

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Emergen Research has segmented the dermatology equipment market on the basis of product, application, end-use and region:

• Product Outlook (Revenue, billion USD; 2019–2030)

• Application Outlook (Revenue, USD Billion; 2019–2030)

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