The market is estimated to grow with a CAGR of 7. 0% from 2020 to 2027. The growth of this market is attributed to the key driving factors such as growing incidences of skin disorders and skin cancer and product launches and collaborations in dermatology treatment devices.
New York, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Dermatology Treatment Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product ; Application ; End User ; and Country" - https://www.reportlinker.com/p06004205/?utm_source=GNW
However, the market is expected to experience slow growth during the forecast period owing to the adverse effects of dermatology treatment devices.
Dermatology is a medical field engaged in the diagnosis, prevention, and treatment of various nail, skin, and hair-related diseases, such as pigmentation, acne, wrinkles, and psoriasis.Dermatology is a specialty in both surgical and medical aspects.
Major devices used for derma treatments are lasers, light therapy devices, cryotherapy devices, microdermabrasion devices, and energy-based therapies devices, and micro needling, among others.
The incidence of skin cancer has dramatically increased in recent years. As per the National Cancer Institute in the US, cases of skin cancer accounted for 4.6% of the total cancer cases in the US. The World Health Organization reported 2-3 million nonmelanoma and 132,000 melanoma cases every year worldwide. As per the Skin Cancer Foundation Statistics, one in every five American citizens is likely to develop skin cancer at least once in their lifetime. The above issues require critical medical intervention and appropriate devices for their treatment to combat the severe condition, which further propels the growth of the dermatology treatment devices market. As per the American Academy of Dermatology Association, acne is the most common skin condition, affecting about 50 million Americans every year, out of which 85% of people from the adolescent age group of 12-24 experience minor acne problems. Further, 1 in 10 people develops atopic dermatitis during their lifetime, and the condition affects about 25% of children and 2-3% of adults. Moreover, 28% of women of age 25 years admit that they regularly worry about their signs of aging. The number increases to 42% and 54% among those belonging to 25-34 years and 35-44years, respectively. Thus, the growing incidences of skin disorders and skin cancer are estimated to propel the market growth.
The demand for dermatology treatment devices is reduced due to COVID-19 outbreak as the focus of healthcare industry is toward saving life of the patients suffering from COVID-19.The increasing number of COVID-19 cases is causing massive disruptions in global supply chains, consumer markets, and the economy.
As a result of the measures implemented by governments across the world, there may be decline in demand for dermatology treatment devices worldwide. For instance, on March 20, 2020, Biofrontera Inc., the US-based wholly owned subsidiary, initiated substantial cost cutting measures by significantly reducing its workforce and implementing a mandatory furlough program, under which all employees will be required to take temporary periods of unpaid time off. Demand for dermatology treatment devices will be significantly reduced for an unforeseeable period of time.
Based on product, the dermatology treatment devices market is segmented into lasers, light therapy devices, cryotherapy devices, microdermabrasion devices, energy-based therapy devices, and microneedling. The lasers segment held the largest share of the market in 2019, whereas the light therapy devices segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on application, the dermatology treatment devices market is segmented into skin resurfacing, skin rejuvenation, hair removal, psoriasis, scars, warts and skin tags, hyperpigmentation and vascular lesions, acne, tattoo removal, and hyperhidrosis. The skin rejuvenation segment held the largest share of the market in 2019, whereas the hair removal segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the dermatology treatment devices market is segmented into hospitals, SPA clinics, dermatology clinics, and surgical centers. The dermatology clinics segment held the largest share of the market in 2019, and is anticipated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources referred to while preparing the report on the North America dermatology treatment devices market are the American Academy of Dermatology Association and Canadian Dermatology Association, among others.
Read the full report: https://www.reportlinker.com/p06004205/?utm_source=GNW
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