Dermatology Devices Market - Major Market Developments, Geographical Growth, Future Forecasts


Posted February 17, 2021 by mmvaidya

This report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies.
 
Major Growth Boosting Factors:

The rising incidence of skin disorders, increasing awareness on aesthetic procedures, technological advancements, and increasing healthcare expenditure are the major factors driving the growth of dermatology devices market.

Critical questions the report answers:

# Where will all these developments take the industry in the mid to long term?
# What are the upcoming industry applications for dermatology devicess?

The presence of stringent regulations for the validation of dermatology devices presents challenges for companies in this market. Stringent regulatory frameworks and the time-consuming nature of approval processes may deter research investments in this market and delay new product launches. Such situations limit the growth of the dermatology devices market.

Changing government policies, the enactment of healthcare reforms, and unfavorable economic conditions in developed countries are all factors responsible for uncertainties in dermatology diagnostic test reimbursements. The global economic downturn in recent years has led to major cuts in Medicaid and the State Children’s Health Insurance Program (SCHIP) funding in the U.S. As long as reimbursement issues are unresolved, the dermatology devices market will not gain pace as expected.

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Major Market Developments:

# In September 2016, Alma Lasers launched Alma LipoLife 3G, a liposuction solution offering maximum safety and proven clinical results. The platform offers a complete, all-in-one solution covering all stages of liposuction, skin tightening, and fat grafting.

# In August 2016, Michelson Diagnostics received U.S. FDA approval for its VivoSight Dx and Dynamic OCT products. VivoSight Dx is an Optical Coherence Tomography (OCT) system used for the real-time imaging of external tissues of the human body. The approval enables the company to sell these products in the American market.

# In November 2015, Lumenis completed the acquisition of Pollogen Ltd. (Israel). This acquisition strengthened Lumenis' portfolio of dermatology devices.

# In September 2014, Cynosure completed the acquisition of Ellman International, Inc. (U.S.). The transaction was completed for a sum of USD 13.2 million in cash.

# In December 2014, Cynosure entered into an agreement with El.En. S.p.A. (Italy). This agreement enables Cynosure to market and distribute MonaLisa Touch in the North America market. The MonaLisa Touch is a carbon dioxide (CO2) laser used for the treatment of vaginal atrophy.

Regional Growth Expectations:

Based on region, the global dermatology devices market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to grow at the highest CAGR during the forecast period. Growth in this regional segment is driven by factors such as the rising incidence of skin diseases, increasing healthcare expenditure, and increasing awareness regarding aesthetic procedures.

Target Audience for this Report:

# Dermatology Device Manufacturers
# Dermatology Device Distributors
# Healthcare Institutions (Hospitals, Medical Schools, Group Practices, Individual Surgeons, and Governing Bodies)
# Various Research and Consulting Companies
# Various Research Associations Related to Dermatology Devices

Expected Revenue Durge, Globally:

The global dermatology devices market is expected to reach USD 14.17 billion by 2021 from USD 8.22 billion in 2016, at a CAGR of 11.50%. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags dermatology devices , dermatology devices market , global dermatology devices market
Last Updated February 17, 2021