Global Dermatology Devices Market: Overview
The global dermatology devices market is expected to grow at a significant pace in the coming years. The key motivating factor, which is leading to a growth of the market is the growing prevalence of skin problems such as scars and acne. Some of the other factors driving the global dermatology devices market are high demand for at-home devices, growing number of obese people, and significant increase in the non-invasive liposuction procedures.
Dermatology devices comprise RF devices, lasers, microdermabrasion devices, and other related accessories. These devices are installed at dermatology clinics and hospitals to assist physicians in the treatment of skin diseases and also help with the diagnosis of skin cancer. The report gives a brief overview on the industry and focuses on key drivers and restraints impacting the growth of the dermatology devices market. It segments the market on the basis of geography, product, end user, and application.
Global Dermatology Devices Market: Trends and Opportunities
The global dermatology devices market is anticipated to experience a significant growth in the coming years due to the growing aesthetic awareness and consciousness about appearance. The demand for non-invasive cosmetic correction procedures is also increasing and this will also fuel the growth of the dermatology devices market. The growing healthcare expenditure, rising disposable income, and growing geriatric population are collectively boosting the demand for dermatology devices. On the other hand, the high cost of dermatological treatments is expected to restrain patients from getting a procedure. In addition to this, there are various side effects of dermatological treatments and this is posing a grave challenge for players in the market.
On the basis of product, the market is segmented into lasers, electrosurgical equipment, liposuction devices, cryotherapy devices, microdermabrasion, LED light therapy devices, lasers. The laser segment is further sub-segmented into fractional, infrared, diode, alexandrite laser, potassium titanyl, Nd:YAG, phosphate (KTP), and pulsed. The LED light therapy devices segment is expected to lead in the market in the coming years. On the basis of application, the dermatology devices market is segmented into vascular lesions, psoriasis, hair removal, acne removal wrinkle removal, tattoo removal, skin resurfacing, skin rejuvenation, and scar removal. Of these, the vascular lesions segment not only led in the past but is expected to continue to do so even in the coming years. On the basis of end user, the global dermatology devices market is segmented into hospitals, private clinics, and specialty dermatology clinics.
Global Dermatology Devices Market: Region-wise Outlook
The global dermatology devices market is segmented on the basis of geography into Asia Pacific, Europe, North America, and the Rest of the World. The dermatology devices market is expected to lead in North America owing to a high number of skin disorders, skin cancer among people. The increasing preference for cosmetic surgeries will also help the dermatology devices market to grow in North America.
Key Players Mentioned in the Report
Some of the vendors operating in the global dermatology devices market are Agilent Technologies Inc., Amd Global Telemedicine Inc., Ambicare Health Ltd., Applisonix Ltd., Biolitec Ag, Cynosure Inc., Bruker Corp., Ellipse A/S, Genesis Biosystems, Ge Healthcare, Lucid Inc., Nikon Corp., Michelson Diagnostics Ltd., Olympus Corp., Palomar Medical Technologies Inc., Toshiba Medical Systems, Syneron Medical Ltd., and Alma Lasers Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.