Dermatology Devices markets Share Trends Analysis Growth 2019 | Key Players : Lumenis, 3Gen, Inc., Alma Lasers Médica , Ambicare Health Ltd , AMD Global Telemedicine, Inc. , Beijing Toplaser Technology CO. LTD
U.S. market held over 92% industry share in 2017 with its market growth attributed to factors such as, escalating incidence of skin cancer and skin associated diseases and surging demand for cosmetic procedures. Furthermore, availability of advanced treatment options, increasing awareness regarding skin diseases and willingness to spend more for skin problems are aspects projected to boost market growth.
Increasing incidence of skin associated diseases and disorders coupled with growing demand for cosmetic procedures are factors driving the global market. Growing number of new cases related to skin cancer and required diagnosis as well as treatment of skin cancer is anticipated to upsurge dermatology devices revenue. According to National Cancer Institute 2013-2015 data, around 2.3% of women and men will be diagnosed with melanoma of skin and in 2015, there were nearly 1.2 million individuals living with melanoma of skin in U.S.
Rising expenditure on skin care treatment and technological advancement in skin care devices is anticipated to propel industry growth. Growing health awareness regarding skin problems along with favourable demographic trends and increased access to dermatologic services are aspects boosting demand for dermatology devices market. As demand is growing so the competition is also on surging level, through alternative treatment options.
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Escalating pollution levels, unhealthy eating habits, improper skin care routine are certain factors boosting skin disorders and diseases. Technological advancements that are offering enhanced devices for skin care and availability of such devices and treatment surges adoption of dermatology devices and treatment. Implementation of laser and light sources is rapidly increasing in dermatology for treatment of cellulite, acne, vascular lesions thereby, rendering positive impact on dermatology devices market Excessive equipment cost coupled with stringent regulatory landscape are factors hindering industry growth.
Diagnostic devices segment dominated and accounted for 57.0% in 2017, due to rising awareness of skin diseases and increasing number of diagnosis for skin problems. Treatment devices segment is projected to grow lucratively at a CAGR of 10.5% over the forecast timeline. The growth is attributable to escalating incidences of skin cancer coupled with rising expenditure on skin treatment.
Light therapy devices (LED therapy) segment of treatment devices held largest market share of more than 29% in 2017 and is projected to grow at a 10.8% CAGR over the forecast timeline. The market share is attributable to associated benefits of the light therapy devices coupled with increasing adoption in treatment of seasonal affective disorder (SAD), psoriasis, acne, wrinkles, scars. Associated benefits include repairing of sun related skin damage, enhances muscle recovery, speeds wound healing, and fades wrinkles, scars as well as stretch marks. LEDs provide more light that is usable due to its tight wavelength span. Additionally, LEDs also generate less heat, are more durable, efficient and are considered eco-friendly as compared to fluorescent sources. Such advantages are projected to boost industry growth.
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Lasers segment is projected to grow at a CAGR of 11.5% over the forecast period owing to wide ranging application such as removal of warts, mole, vascular lesions and pigmented lesions treatment, hair removal. In addition to, rising use of lasers in cutaneous disorder and associated benefits are factors rendering positive impact on business growth. Moreover, increasing implementation of lasers for dermatologic conditions is anticipated to boost industry growth in coming years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Lumenis, 3Gen, Inc.
Alma Lasers Médica
Ambicare Health Ltd
AMD Global Telemedicine, Inc.
Beijing Toplaser Technology CO. LTD
Dansys Medical Group
IMAGE DERM INC
Skin cancer accounted for more than 26% industry share in 2017 and is projected to continue its dominance over the coming years. Increasing incidence of skin cancer coupled with advancing technology for treatment of skin cancer is anticipated to propel dermatology devices market growth. According to Australian Government Cancer statistics 2017, around 10.4% individuals were diagnosed with melanoma skin cancer.
Skin rejuvenation segment is anticipated to grow at a CAGR of 10.7% on an account of rising demand for cosmetic procedures coupled with advantages offered by skin rejuvenation treatment. Advantages such as reduction in pore sizes, improves appearance of acne scars, age spots, it also smooths fine lines, wrinkles and improves skin texture and tone. Additionally, skin rejuvenation treatment also stimulates collagen, it is cost-effective and is done by minimally invasive method. Such factors encourage customer buying behaviour thereby, fuels dermatology devices market growth.
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Germany market is estimated to grow at 9.9% CAGR over forecast time due to surging demand for cosmetic procedures and increasing incidence of skin related diseases. Rising demand for advanced diagnostic dermatology equipment will boost the business growth Indian market is anticipated to grow at a significant rate over the coming years due to rising incidence of skin associated diseases such as acne, eczema, etc and increasing expenditure on skin treatment.
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