Dermatology Devices Market Analysis, Size, Growth, Share, Outlook & Forecast to 2027
The global dermatology devices market size is expected to reach a value of USD 35.3 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 15.1% over the forecast period. The product demand is expected to increase owing to rise in skin conditions and growing influence of social media. Increasing incidences of skin disorders such as psoriasis, acne, eczema, and skin lesions across the globe is attributed to irregular lifestyle and food habits. Melanoma is the most deadly form of skin cancer which arises due to overexposure to the sun. Dermatology diagnostic equipment help in the early diagnosis of melanoma. High prevalence of this skin condition is anticipated to contribute to the market growth. For instance, in 2019, nearly 7,800 Canadians were estimated to be diagnosed with melanoma and nearly 1,300 Canadians were estimated to die due to melanoma. Moreover, obesity has rapidly become a major health concern. Hence, fat removal procedures are increasingly being adopted. Liposuction is considered as an effective treatment for obesity, which, in turn, drives the product demand. Rising disposable income and increasing financial independence among women are also driving market growth. In addition, technological advancements in laser treatments increases its application scope, subsequently driving the product demand over the forecast period.