Global dermatology medical device market is expected to flourish at a CAGR of 10.6% during the forecast period. Moreover, the global dermatology medical device market is expected to garner USD 16.8 Billion by the end of 2023.
The global dermatology medical device market is segmented into devices such as diagnostic devices and treatment devices. Among these segments, treatment devices segment is expected to occupy top position in overall dermatology medical device market during the forecast period.
Rising number of people adopting aesthetic procedures is expected to foster the growth of treatment devices segment. However, diagnostic devices segment is expected to grow at higher pace than treatment devices segment.
Increasing cases of skin related diseases such as skin cancer are anticipated to impel the growth of this segment.
Factors such as rising demand for aesthetic procedures, growing cases of skin disorders and technological advancements are expected to considerably increase the market size of global dermatology medical device market.
North America captured thelargest market share of dermatology medical device in 2016. Further, North America is projected to continue its dominance over the forecast period owing to the high demand for aesthetic procedures in the region.
Further, factors such as adequate awareness rise in number of people suffering from melanoma and high healthcare expenditure are expected to propel the growth of the dermatology medical device market in the North America region. Asia Pacific is expected to witness lucrative growth during the forecast period.
Rising medical tourism coupled with low cost treatment is expected to fuel the growth of dermatology medical device market in Asia Pacific region.
Increasing Awareness about Dermatological Procedures
Rising awareness about the aesthetic procedures among the youngsters and baby boomers is anticipated to impel the growth of the dermatology medical device market during the forecast period. Further, the market is anticipated to grow on the back of the increasing prevalence of skin related disorders and diseases.
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Technological Advancements and Developments
Technological developments and availability of advanced and user friendly dermatological devices are driving the growth of dermatology medical device market. Moreover, recent launches of portable and low cost devices are expected to boost the growth of dermatology medical device market during the forecast period.
However, high cost of dermatological procedures and lack of awareness in under developed economies are likely to inhibit the growth of the global dermatology medical device market in the near future.
The report titled “Dermatology Medical Device Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the global dermatology medical device market in terms of market segmentation by devices, by application, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global dermatology medical device market which includes company profiling of Valeant Pharmaceuticals International Inc., Cynosure Inc., Lumenis, Syneron Candela Ltd., Avita Medical Ltd., Lutronics Corporation, Carl Zeiss, Alma Lasers, Ltd., Cutera, Inc. and Solta Medical, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global dermatology medical device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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