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Dermatology Treatment Devices Market Revenue to Cross US$ 8,800.07 million in by 2027 | Exclusive research By The Insight Partners
According to The Insight Partners new market research study on "Dermatology Treatment Devices Market to 2027 - COVID-19 Impact and Global Analysis - by Product Type, Application, and End User," the market is expected to reach US$ 8,800.07 million by 2027 from US$ 5,320.73 million in 2019; it is estimated to grow at a CAGR of 6.7% from 2020 to 2027.Factors such as rising prevalence of skin issues and technological advancements in dermatology treatment devices boost the growth of the market. However, the risk of undesirable side effects associated with the use of dermatology treatment devices hinders the market growth.
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The dermatology treatment devices market, by application, is segmented into skin resurfacing, skin rejuvenation, hair removal, psoriasis, scar, warts and skin tags, hyperpigmentation and vascular lesions, acne, tattoo removal, and hyperhidrosis. The skin rejuvenation segment held the largest share of the market in 2019, whereas the hair removal segment is anticipated to register the highest CAGR in the market during the forecast period.
The COVID-19 pandemic was first reported in December 2019 in Wuhan (China). The impacts of this outbreak are being felt across several markets in the world. The demand for dermatology treatment devices has reduced amid this global crisis due to a significant shift in the focus toward the management, treatment and prevention of COVID-19. The pandemic is continuing to worsen around the world leading to massive disruptions in global supply chains, consumer markets, and economies, and these conditions are also restraining the growth of the dermatology treatment devices market.
Cutera Inc.; Bausch Health Companies Inc.; Sciton, Inc.; Lumenis; Alma Lasers; Cynosure, Candela Corporation; Biofrontera Ag; Avita Medical; and PhotoMedex are among the leading companies operating in the dermatology treatment devices market.
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Long working hours and changing lifestyle have contributed significantly to rise in stress levels, impacting the appearance of individuals, especially affecting their skin and hair. Also, the increasing pollution levels exert detrimental effects on an individual's physical appearance. RF roller and blue light devices can be used to manage acne problems caused by changes in environment or life styles. Customers are keen to experience beauty and wellness services to rejuvenate their body. Thus, international grooming products, as well as services offered at home, have gained popularity to a great extent.
Below is the list of the growth strategies done by the players operating in the dermatology treatment devices market:
In Sept, 20 - CUTERA, INC. announced the launch of truSculpt flex, the new muscle-sculpting platform, in Canada. Disrupting the Canadian aesthetic market, truSculpt flex is Health Canada cleared and approved for the strengthening of abdominal tone, firming of the abdominal muscles, and development of a stronger abdomen. It is also cleared for the strengthening, toning, and firming of buttocks, thighs, arms, and calves.
In Jan, 20 - Candela Corporation has entered into an exclusive collaboration agreement with MT.DERM GmbH for the commercialization of MT.DERM's medical microneedling products. According to the agreement, Candela Medical will market the product globally
In Aug, 20 - Sciton Inc. has launched, BBL HERO - game changing technology. The launch of new products includes mJOULE, an incredible new fractional treatment, with BBL HERO, the biggest advancement in the history of pulsed light-based technology.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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