The global dermatology devices market is estimated to grow significantly, at a CAGR of over 13% during the forecast period.The market is driven by growing cosmetic surgeries, rising middle-aged population, and increasing plastic surgeons across the globe. For instance, as per the American Society of Plastic Surgeons (ASPS), there were 17.7 million surgical and minimally invasive cosmetic procedures performed in the US in 2018. Of which minimally invasive cosmetic procedures have significantly increased by nearly 228% since 2000.
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It seems that boomers may want to keep their competitive edge at work and that the widespread use of smartphone cameras may also be a driving factor. The elderly population is more aware and critical of themselves when they take these photos, and that may drive their attention in looking more youthful, which could ultimately drive the global dermatology devices market.
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Increasing Spending on Beauty Practices
Spending on beauty procedures is on a significant rise throughout the globe. Urbanization is leading to a modern lifestyle which has urged individuals to focus on physical appearance, thus more and more individuals are going for various beauty procedures including dermal filling injectables, which can be considered as one of the key components in dermatology devices industry.
An increasing obsession with physical appearance, rising disposable income, and the availability of technologically advanced & user-friendly products are the major factors that have played an imperative role in the increased spending on beauty procedures.Aided by increasing awareness among the general public of the facial injectables available to them the trend of increasing focus on physical appearance is expected to continue in the coming years and play an essential role in the growing expenditures on beauty procedures, which ultimately drives the growth of the dermatology devices market.
Increasing Medical Tourism in Emerging Countries
Cosmetic surgery tourism industry is growing at a rapid pace and in general, the grounds on which a patient seeks cosmetic surgery could vary substantially. Generally, elite patients look for best cosmetic surgeons, while a majority of individuals seek more extreme or risky surgeries that may not be available in their countries. Although, the most common reason for traveling overseas for cosmetic surgery is financial.
Cosmetic surgery can be considerably less expensive outside the countries including the US, Switzerland, Spain, and UK, among more that offer expensive treatment, as suggested by multiple healthcare experts that popular procedures such as nose jobs (rhinoplasty) and breast augmentation may be approximately $2000 cheaper in the Southeast Asian countries including China, India, and Eastern European countries including the Czech Republic and Poland. As a result, the increasing desire for inexpensive cosmetic surgery has led to an increase in such surgical holidays.
Global Dermatology Devices Market-Segmentation
By Product Type
- Diagnostic Devices
o Dermatoscope
o Imaging Devices
o Microscopes
- Treatment Devices
o Lasers
o Cryotherapy Devices
o Light Therapy Devices (LED Therapy)
o Electrosurgical Equipment
o Others (Liposuction Devices)
By Application
- Skin Rejuvenation
- Hair Removal
- Body Contouring
- Tattoo Removal
- Others (Vascular and Pigmented Lesion Removal)
Global Dermatology Devices Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- 3Gen Inc.
- Alma Lasers GmbH
- AMIEA MED, INC., a company of MT. DERM GmbH
- Anthony Products Inc.
- AVITA Medical Ltd.
- Bausch Health Companies Inc.
- Beurer GmbH
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