The rising prevalence of skin diseases such as acne and psoriasis and the increasing geriatric population base will drive the market’s growth during the forecast period. In addition, the increased adoption of minimally invasive procedures such as dermabrasion, chemical peels, and microdermabrasion for aesthetic purposes is also driving the market growth.
Dermatology is defined as a branch of medicine dealing with skin disorders. Dermatologists specialize in treating skin conditions such as acne, rashes, blisters, and others through drug therapy, surgery, or other methods. Dermatologists use dermatology devices and a large variety of specific dermatology supplies to effectively diagnose and treat various skin conditions.
A dermatology supply chain consists of manufacturers, distributors, and retailers such as hospitals & clinics, spas & salons, physician offices, etc. Most of the revenue generated from these segments is spent on research & development, followed by marketing & advertising costs which is one of the biggest challenges facing players operating in this market segment.
The derma roller segment is expected to witness the fastest growth during the forecast period due to its increased application in health and wellness and skincare. Disposable PPE and a variety of other dermatology supplies for dermatologists are also seeing a heavy increase in demand and sales growth as well.
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Devices
The market for dermatology devices has been segmented into ophthalmology devices, lasers, light sources, and other devices such as dermatoscopes, needles & syringes, electrosurgery devices, shavers & trimmers, and others (dermatitis treatments). Ophthalmology devices dominated the global dermatology devices market in 2018 and are expected to remain dominant through 2028.
This product segment includes glaucoma surgery equipment such as diagnostic catheters and surgical instruments used for performing surgeries related to glaucoma patients.
Increasing Awareness
The increasing awareness about the benefits of skincare products and treatments is driving the growth of the dermatology devices market. The significant factors that are likely to impact the growth of the global dermatology devices market include growing healthcare expenditure, an increasing number of hospital beds per 1,000 population, technological advancements, and a rising geriatric population. These factors are supporting the growth of this market globally.
Furthermore, the market is also expected to experience growth during the forecast period. Increasing awareness regarding skin diseases and their symptoms and the rising demand for quick diagnosis are key growth factors expected to drive the market. The increasing number of skin cancer cases has increased the demand for advanced diagnostic equipment such as dermoscopes which help diagnose various types of skin disorders, including melanoma, basal cell carcinoma, and squamous cell carcinoma.
Gender-Specific Dermatology Product Offerings Growing
According to the report, the rise of gender-specific dermatology product offerings is a key driver of the growth of this market. Dermatologists can now provide more personalized treatments tailored to their patients’ needs. The report notes that gender-specific treatment options will become an essential aspect of dermaceuticals as they allow clinicians to increase patient retention rates and improve patient satisfaction levels.
Increased Millennial Demand
The rising millennial population and changing lifestyle trends will also contribute to the growth of this market. Due to their high effectiveness and low costs, the demand for minimally invasive techniques is rising. Aside from surgical & medical devices used, there has been a growing need for non-surgical equipment, disposables, PPE, and other dermatology supplies for dermatologists practices no matter how big or small they are.
Key Strategic Developments
The increasing number of mergers & acquisitions, partnerships, and collaborations; product innovations; and new product launches are key strategic developments adopted by key players in this market.
The increasing utilization of advanced technologies in dermatology surgeries, such as lasers and RF devices, is also driving the market growth. These procedures are costly, and patients are unaware of new technologies, limiting the growth of this market.
