US Dermatology Device Market 2023 Share, Size, Key Players, Revenue Analysis | Prudent Markets

The US Dermatology Device Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global US Dermatology Device market. This report explores all the key factors affecting the growth of the global US Dermatology Device market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Description of the US Dermatology Device Market

Research Scope and Assumption

The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)

The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis

We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses

All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis

Inflation has not been accounted for in order to estimate and forecast the market

Numbers may not add up due to rounding off

Research Objective:

To analyze and forecast the market size of US Dermatology Device Device market

To classify and forecast US Dermatology Device Market market based on application, Device, project type, and application.

To identify drivers and challenges for US Dermatology Device market

To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in US Dermatology Device market

To conduct pricing analysis for US Dermatology Device Device market

To identify and analyze the profile of leading players operating in US Dermatology Device market

Reason to buy the report:

Facilitate decision-making based on strong current and forecast data for Atopic Dermatitis drug market

Develop strategies based on the latest regulatory framework

Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market

Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Atopic Dermatitis market

Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders

To strategically profile key players and comprehensively analyze their market shares and core competencies

We have technically sound team which do a deep dive research and also provide strategy-based consulting analysis

US Dermatology Device Market ExecutiveSummary

According to American Academy of Dermatology Association 4.5 million Americans one in four were impacted by skin disease. Skin disease cost the US health care system $75 billion in medical, preventative, and prescription and non-prescription drug costs. One in three Americans with skin disease were seen by a dermatologist, who collaborates with other physicians throughout the health care system in caring for these patients, consequently leading growth of the US dermatology device market.

Market Size and Key Findings

The US Dermatology Device market size is at around USD 2.48 billion in 2020 and is projected to reach USD 8.42 billion in 2027, exhibiting a CAGR of 19.06% during the forecast period.

The beauty standards among the young population are changing in the recent years, and with the aesthetic procedures possible, the generation is frequently adopting toward the dermatological process to satisfy the beauty standards, thus aiding to the growth of the United States dermatology devices market in the forecast years.

Market Dynamics

Market Growth Drivers Analysis

US dermatology devices market is expected to witness rapid growth, owing to the increasing prevalence of skin cancer and other skin diseases, and contribute significantly to the high demand for dermatology devices. Furthermore, growing awareness of cosmetic procedures to improve the aesthetic appeal and technological advancements in dermatology devices drive the adoption of these devices. The rise in disposable income is driving the market for dermatology devices.

Market Restraints

The side effects related to dermatological treatments and stringent regulatory policies for medical devices are some of the factors, which is likely to hamper the growth of the market.

COVID-19 impact on "US Dermatology Device Market

The outbreak of COVID-19 impacted the US dermatology devices market. The closure of non-essential businesses created a disruption in the dermatology industry, and consumers are now looking for online cosmetic home treatments. The dermatology brands can exploit this opportunity to renovate their online offerings, offer e-consultation services, and invest in advanced technology as more consumers seek cosmetic advice from the comfort of their homes.Therefore the US dermatology diagnostic devices and therapeutics market is set to expand at a stellar pace.

Competitive Landscape

Key Players

Some of the key players in the dermatology devices market are 3Gen, Inc., Aesthetic Group., Alma Lasers, Ltd., Ambicare Health., AngioDynamics, Inc., B. Braun Melsungen AG, Bruker Corporation, Canfield Scientific, Inc., Carl Zeiss, Cutera, Inc., Cynosure, Inc., Erbe Elektromedizin GmbH, Genesis Biosystems, Inc., Heal Force Bio-meditech Holdings Limited, Heine Optotechnik GmbH & Co. Kg, ILLUCO, Image Derm, Inc., Johnson & Johnson Private Limited, Lumenis, Ltd., Medtronic Plc, and Others

Products in Pipeline

STRATA Skin Sciences Announces Acquisition of Acne Treatment Device Assets from Theravant Corporation. Which will Creates a robust pipeline of new opportunities, targeting dermatologic conditions beyond acne, with a unique treatment approach.The acquisition of the TheraClear System provides STRATA with a safe and effective technology to complement and/or replace prescription drugs and topical creams. TheraClear Acne System delivers a two-part process for treating inflammatory acne, pustular acne and comedonal acne that combines a vacuum and broadband light that has been proven to clear skin rapidly for fast and visible reduction in acne and associated redness. The rapid improvement experienced by patients drives compliance and patients returning to dermatologists offices to complete therapy.

Notable Recent Deals

In Jan 2020, 3Derm Systems, Inc. (3Derm) announced that it was granted two FDA Breakthrough Device designations for 3DermSpot, an algorithm that uses artificial intelligence (AI) and highly standardized skin images to autonomously detect melanoma, squamous cell carcinoma, and basal cell carcinoma.

In Jul 2020, Lancer Skincare announced the launch of its very first skincare exfoliating device, the Pro Polish Microdermabrasion Device. Pro Polish enhances the efficacy of the Lancer routine by delivering surface-layer microdermabrasion in a patented, handheld device.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario of US Dermatology Device Services

The US Food and Drug Administration (FDA) evaluates and approves Class III medical devices through its premarket approval (PMA) process. The agency classifies devices that support or sustain human life, are of substantial importance in preventing impairment of human health, or present a potential unreasonable risk of illness or injury as Class III devices.1,2 Such devices pose a greater risk to patient health than Class I or Class II devices and are therefore subject to the FDAs most stringent regulatory requirements.

Between January 1st, 1980, and November 1st, 2016, the FDA approved 27 original PMA applications for dermatologic devices (Table), consisting of 14 implants or fillers (51.9%), 11 photodynamic therapy devices (40.7%), 1 dermal replacement matrix (3.7%), and 1 diagnostic imaging instrument (3.7%). Our linear regression analysis indicates that the rate of original PMA device approvals per year for dermatologic devices has not significantly changed since 1980.
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Dermatology Device Market Segmentation

By Product Type:

Based on Product , the market was studied across Diagnostic Devices and Treatment Devices. The Diagnostic Devices is further studied across Biopsy Devices, Dermatoscopes, Microscopes, and Other Imaging Devices. The Treatment Devices is further studied across Cryotherapy Devices, Electrosurgical Equipment, Lasers, Light Therapy Devices, Liposuction Devices, and Microdermabrasion Devices.

Diagnostic Devices
Biopsy Devices
Dermatoscopes
Microscopes
Other Imaging Devices.
Treatment Devices
Cryotherapy Devices
Electrosurgical Equipment
Lasers & Light Therapy Devices
Liposuction Devices
Microdermabrasion Devices.

By Application Type:

The cancer segment is expected to rise exponentially during the forecast period. The growing prevalence of cancer and rising awareness regarding therapeutics will boost the segment's growth.

Acne
Psoriasis, and Tattoo Removal
Body Contouring and Fat Removal
Cellulite Reduction
Hair Removal
Skin Cancer Diagnosis
Skin Rejuvenation
Vascular and Pigmented Lesion Removal
Wrinkle Removal and Skin Resurfacing

By State:
California
Florida
Illinois
New York
Ohio
Pennsylvania

Texas.
Highlighted Segments of US Dermatology Device Market:

Industry Overview: The first section of the research study covers an overview of the global US Dermatology Device Market, market status and prospects, and product range. In addition, it provides highlights of the major segments of the global Market, i.e., region, type, and application segments.

Competitive Analysis: This report illuminates important mergers and acquisitions, business expansion, product or service differences, market concentration, the competitive status of the global US Dermatology Device Market, and market size by player.

Company Profiles and Key Data: This section covers companies profiling the major players in the global US Dermatology Device Market based on the aforementioned revenue, products, business, and other factors.

Market size by type and application: In addition to providing an in-depth analysis of the industry size by type and application, this section provides research on top end users or consumers and potential applications.

Market Dynamics: This report covers the drivers, trends, and opportunities of the global US Dermatology Device Market. This section also includes Porter's analysis of five forces.

Findings and Conclusions: It provides strong recommendations for new as well as established players for securing a position of strength in the global US Dermatology Device Market.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global US Dermatology Device Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global US Dermatology Device Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the US Dermatology Device market
Chapter 2: Exclusive Summary - the basic information of the US Dermatology Device Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the US Dermatology Device
Chapter 4: Presenting the US Dermatology Device Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the US Dermatology Device market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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-An extra edge in the competitive market could be obtained from this elaborative research report
-The report offers all the competitive landscape, growth drivers, applications, market dynamics, and other necessary details as well.

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