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Dermatology Devices Market Report 2023 Analysis And Forecast To 2032 | Major Key Players, Trends, Business Overview, And Competitive Analysis
Dermatology Devices Market Analysis
The Business Research Company's Dermatology Devices Global Market Report 2023 identifies increasing prevalence of skin cancer and other skin diseases as the major driver for the Dermatology Devices market's growth in the forecast period. Skin cancer is the uncontrolled proliferation of abnormal cells in the epidermis, the outermost layer of the skin. It is caused by malignant tumors formed from unrepaired DNA damage. Other skin-related diseases include eczema, cold sores, dry skin, acne, and others. In order to remove skin tumors, dermatology devices such as light treatment devices, lasers, and electrosurgical equipment are used. For instance, according to the American Cancer Society, a US-based voluntary health organization, in 2022, around 99,780 new melanoma skin cancer cases were diagnosed and around 7,650 patients died due to melanoma, in the US. Therefore, the growing prevalence of skin cancer and other skin diseases is driving the growth of the dermatology devices market.
The global dermatology devices market size grew from $12.04 billion in 2022 to $14.03 billion in 2023 at a compound annual growth rate (CAGR) of 16.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The dermatology devices market size is expected to grow to $23.46 billion in 2027 at a CAGR of 13.7%.
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Major competitors in the Dermatology Devices market are Cutera Inc., Lumenis Ltd., Alma Lasers, Solta Medical Inc., Aesthetic Group, Ambicare Health, Image Derm Inc., Johnson & Johnson Private Limited, AMD Global Telemedicine Inc., Cortex Technology, HEINE Optotechnik GmbH & Co. KG.
A key trend in the Dermatology Devices market includes Technological advancements. Major companies operating in the dermatology devices sector are focused on new technological innovations to sustain their position in the market. For instance, in January 2020, 3Derm Systems, Inc., a US-based company that manufactures dermatology devices, launched 3DermSpot. The 3DermSpot is an algorithm designed to use artificial intelligence (AI) and highly standardized skin images to help in autonomously detecting melanoma, squamous cell carcinoma, and basal cell carcinoma. This helps in the speedy detection of skin cancer.
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The Dermatology Devices market is segmented -
1) By Product Type: Diagnostic Devices, Treatment Devices, Other Product Types
2) By Application: Skin Cancer Diagnosis, Psoriasis, Skin Rejuvenation, Warts, Other Applications
3)By End User: Hospitals: Clinics, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Dermatology Devices market.
The Business Research Company's "Global Dermatology Devices Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Dermatology Devices Market Include:
1. Executive Summary
2. Dermatology Devices Market Characteristics
3. Dermatology Devices Market Trends And Strategies
4. Dermatology Devices - Macro Economic Scenario
5. Dermatology Devices Market Size And Growth
……
27. Dermatology Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Dermatology Devices Market
29. Dermatology Devices Market Future Outlook and Potential Analysis
30. Appendix
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