“Diagnostic devices are expected to grow at a higher rate as compared to treatment devices. We have a specific driver of an increasing number of skin cancers. Diagnoses of skin cancers is very important in the preliminary stage and that’s where imaging devices play a major role.”
— Shailendra Gaikwad, senior research analyst, Grand View Research, San Francisco
Global aesthetic procedure statistics by the International Society of Aesthetic Plastic Surgery (ISAPS) indicate a growing demand for aesthetic procedures. In the latest ISAPS 2016 statistics, there was an overall increase of 9 percent in surgical and non-surgical cosmetic procedures from the beginning to the end of the year, with the U.S., Brazil, Japan, Italy and Mexico accounting for 41.4 percent of the world’s cosmetic procedures.
Medical devices in the categories of hair removal, skin rejuvenation, tattoo removal, body contouring and fat reduction are among those forecast in the next decade to lead the way.
“Aesthetics is an emerging field, and with the increasing awareness amongst people, aesthetic procedures for treating hair- and skin-related disorders are on the rise. This will help increase the market for dermatologic devices significantly,” Gaikwad said.
Obesity, a factor driving patients to doctors in other specialties, also is behind a push for higher demand in the aesthetic realm, for fat removal and liposuction devices, he said.
Aesthetics will continue to be a major market driver for dermatologic devices, which is expected to trickle down into business for the practicing dermatologist, according to Gaikwad.
The global dermatology devices market, including treatment devices in medical dermatology and aesthetic procedures, was $8.74 billion in 2016. It is expected to be $25.7 billion in 2025, largely due a growing awareness about aesthetic procedures and increasing incidences of skin disorders such as psoriasis, acne, eczema and skin lesions, according to the Grand View report.
While the U.S. and Canada are expected to lead regional growth in the dermatologic device market through 2025, other big players include Europe (Germany and the UK), as well as the Asian Pacific region, which encompasses Japan, China and India. Lucrative growth in Asia Pacific countries will likely get a boost from medical tourism and the promise of low-cost treatments, according to the report.
Dermatology Devices Market Size, World Industry Report, 2014-2025. Grand View Research. Feb. 2017.