The global dermatology diagnostic devices and therapeutics market size was estimated at USD 13 billion in 2022 and is projected to hit around USD 25.69 billion by 2032 with a registered CAGR of 7.1% during the forecast period 2023 to 2032.
Dermatology diagnostic devices and therapeutics are used for diagnosing skin wounds, skin-related disorders, pigmentation acne, and assisting in the diagnosis of skin cancer.
The market growth for dermatological diagnostic equipment would be greatly impacted by the rising incidence of skin cancer. UV radiation exposure is a cause of skin cancer. According to the American Academy of Dermatology, 1.9 million individuals were expected to have melanoma in 2019. Additionally, the Skin Cancer Foundation predicts a 2% increase in new melanoma occurrences in 2020. The demand for dermatological devices will also increase during the next years due to the increasing requirement for quick diagnostics of skin cancer and other associated skin problems. The size of the market for dermatological diagnostic equipment will increase over the future years due to technological developments in the field of dermatology. Manufacturers should benefit from these technical developments in order to preserve their place in the market. The adoption of dermatological diagnostic devices will also be influenced by the development of diagnostic tools for treating malignant skin cancer and other conditions like squamous cell carcinoma. Similarly to this, as dermatological diagnostic gadgets become more digitalized, more people will use them, increasing the market's growth. Therefore, the industry of dermatological diagnostic devices will have the potential for significant growth due to ongoing improvements in dermatology equipment. The market for dermatological diagnostic equipment and therapies is gaining momentum due to the proliferation of specialist clinics, in addition to the rise in cases of hair loss and skin illnesses and technological advances in the industry. Additionally, the development of e-commerce and the rise of the cosmetics industry are anticipated to have a beneficial impact on this market. On the other hand, high prices for dermatological diagnostic tools and associated treatments prevent the market from growing more profitably.
Report Scope of the Dermatology Diagnostic Devices and Therapeutics Market
|Market Size in 2023||USD 13.86 Billion|
|Market Size by 2032||USD 25.69 Billion|
|Growth Rate from 2023 to 2032||CAGR of 7.1%|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2023 to 2032|
Key Market Drivers
Geriatric people are using aesthetic operations more frequently
Increasing use of non-invasive and minimally invasive aesthetic treatments
Key Market Challenges
Clinical risks and complications associated with dermatology procedures
Key Market Opportunities
Demand for minimally invasive/non-surgical procedures is rising
Advancements in skincare treatments
Diagnostic Devices Insights
The market for dermatology has been divided into imaging equipment, microscopes and trichoscopy, and dreamscapes based on diagnostic tools. The report categorizes imaging devices into optical coherence tomography, ultrasound, X-ray, magnetic resonance imaging, and magnetic resonance spectroscopy. Microscopes and trichoscopy are further divided into reflectance confocal microscopy, multispectral photoacoustic microscopy, Raman spectroscopy, and other categories. Additionally, there are three different types of dermatoscopes: hybrid, cross-polarized, and contact oil immersion. These include the sub-segments of imaging equipment, which had the highest revenues in 2022 and are expected to see above-average CAGR growth of 7.96% from 2023 to 2032. The imaging equipment market is booming as a consequence of its successful detection rates, real-time diagnostic picture production, and high sensitivity.
Application Class Insights
With a market share of over 15% in 2022, the hair removal therapy application sector will also have the fastest CAGR between 2023 to 2032. The treatment application segment is further divided into the following sub-segments: cellulite reduction, vascular and pigmented lesion removal, skin rejuvenation, hair removal, acne, psoriasis, and tattoo removal; wrinkle removal and skin resurfacing; removal of wrinkling and age spots; and others. Laser hair removal equipment in particular has been shown to be less uncomfortable and safer for all skin tones and hair colors, which is driving the expansion of this market.
End Use Insights
A major portion of the market, more than 54.60%, was accounted for by the hospital sector in 2022 due to the widespread use of cutting-edge dermatological equipment in hospital settings. Numerous visits are made to these facilities for the diagnosis and treatment of skin diseases as a result of the availability of a variety of treatment choices, which in turn promotes the segment's expansion. The end-user category for clinics is anticipated to see the fastest CAGR between 2023 to 2032. Clinics that specialize in the diagnosis and treatment of skin diseases are called dermatology offices. Certified plastic surgeons provide both surgical and nonsurgical procedures in dermatological clinics.
According to TripleTree, the United States will have 14,000 dermatologists and 9,000 dermatology practices in 2020. 34% of all practices were single operations, while 48% of all operations had three or more physicians. Patients frequently attend specialty dermatological clinics for quick and efficient care as the need for specialized dermatology treatments increases, which fuels the segment's expansion. In addition, more people are attending dermatological clinics for treatment and care due to the global growth in skin cancer and melanoma prevalence and the expansion of clinics providing dermatology services.
Dermatology Diagnostic Devices and Therapeutics Market Share, By Region, 2022 (%)
|Regions||Revenue Share in 2022 (%)|
The region with the highest revenue share in 2022—more than 45%—was North America. During the projection period, the regional market is expected to maintain its dominance and develop at a steady CAGR. The increased prevalence of skin cancer and other skin problems including eczema and rosacea, as well as the expanding usage of cosmetic procedures, are two major factors contributing to the regional market's development. 80% of Americans will encounter acne vulgaris at some time in their lives, and 20% of those people may have severe acne that might leave them permanently emotionally and physically damaged.
From 2023 to 2032, the Asia Pacific regional market is anticipated to develop at the quickest rate. An increase in the number of multinational corporations engaging in R&D in the Asia Pacific has shown to be a significant driver of the regional market. Rising consumer awareness of beauty is also projected to stimulate product demand, fostering regional market expansion.
Key Market Players
Segment Covered in the Report
By Diagnostic Devices
By Application Class
By End Use
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