Market Analysis, Clin Dermatol Res J Vol: 4 Issue: 2
Market Analysis on 10th International Conference on Cosmetic Dermatology and Plastic Surgery
Katherine Roy
Treant Scheper Hospital,Netherlands, E-mail: royk0021@gmail.com
Abstract
Conference series LLC Ltd is all set to focus its attention on the global public health concerns. Conference series LLC Ltd scheduled 1000+ annual scientific conferences, 2000+ International workshops, seminars, exhibitions and symposia for 2017. Conference series LLC Ltd Cosmetic Dermatology Conferences would offer a powerful global forum to encourage dialogue on the advancements related to prevention of Skin related diseases.
Keywords: Skin,Plastic Surgery
Conference series LLC Ltd is all set to focus its attention on the global public health concerns. Conference series LLC Ltd scheduled 1000+ annual scientific conferences, 2000+ International workshops, seminars, exhibitions and symposia for 2017. Conference series LLC Ltd Cosmetic Dermatology Conferences would offer a powerful global forum to encourage dialogue on the advancements related to prevention of Skin related diseases.
The global dermatology devices market size was valued at over USD 9.6 billion in 2017 and is expected to showcase lucrative growth over the forecast period, registering a CAGR of 13.5%. Increasing prevalence of skin cancer and other skin diseases has significantly contributed to high demand for various dermatological diagnostic and treatment procedures in recent times, thereby spurring product demand.
Television, social media, and advertising have had a tremendous impact on consumers’ paying increased attention to physical appearances and esthetics. This has also raised interest in a variety of cosmetic and esthetic surgeries and procedures. This, supported by surge in consumer disposable income and introduction of technologically advanced solutions, has had a major impact on market demand.
North America dermatology devices market
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People of all age groups and ethnicities have shown interest in skin rejuvenation products and procedures. There has been a latent shift from using conventional products to opting for technologically advanced equipment that aid in better diagnosis and treatment of various skin diseases. These are also known to improve esthetic appearance. Introduction of technologically advanced noninvasive laser therapies has also resulted in high demand for dermatology devices.
Another key factor driving the market is rising prevalence of melanoma and non-melanoma skin cancers. According to The Skin Cancer Foundation, around 10,130 people die due to melanoma every year in U.S. American Cancer Society 2018 statistics stated that in U.S., around 91,270 new melanoma cases are expected to be diagnosed in 2018. The American Academy of Dermatology (AAD) estimated that 1 in 3 Americans visit dermatologists and 1 in every 4 are affected with some form of skin disease every year. This has resulted in a growing need for speedy and effective diagnosis of such disorders.
The Global cosmetics market is segmented as following categories
By Category
• Skin and Sun care products
• Deodorants and perfumes
• Fragrances
• Others
Beauty Industry Segments and Market Share Revenue
• Skin care - 36%
• Hair care – 27.1%
• Cosmetics- 10.6%
• Perfumes and colognes- 6.5%
• Deodorants, antiperspirant, feminine cleaning- 6.5%
• Oral hygiene- 4.6%
• Other- 9.1%
Growth in the dermatology market is expected to accelerate in coming years due to a confluence of factors including an aging population, rising disposable incomes and increased health insurance coverage. Due to positive outlook and unmet demand, the industry has undergone impressive growth and consolidation, largely driven by private equity. The market is currently characterized by high fragmentation, growing volumes and high multiples. The dermatology market is largely separated into three different sections; Mohs, cosmetic and general surgery. Of these, general dermatology is the largest segment by revenue as it encloses the greatest variety of diseases and treatments.
The size of the global dermatology devices market will increase USD 1.17 billion between 2017-2022, accelerating at a CAGR of almost 7% during the forecast period. This growth in market size will be attributed to numerous factors including rising non-refundable incomes, an aging population, increased health insurance coverage, and the growing need for early diagnosis of Cosmological conditions.
As the dermatology devices market grows, so too will the market for dermatological drugs. The 2018 year-over-year growth rate for the global dermatological drugs market was 10.37% and it is expected that the market will grow nearly USD 8.5 billion between 2017-2022. There is a large demand for stable and safe drugs that require minimal observing because most of the drugs that are used to treat severe dermatologic conditions are associated with neuropsychiatric adverse effects.
The global skincare market is strong growing and expansive, ranging from prescription drugs to over-the-counter drugs to cosmetic products. The global dermatology market (OTC and prescription) is vast and evolving quickly with forecasts that indicate a global market of €81.9 billion in 2028, growing significantly from €44.1 billion in 2018. In 2016 the cosmetic skincare market size was valued at €130 billion.
There will be a significant increase in the demand for devices such as dermatology lasers because of the rising adoption of medical and aesthetic laser technologies. The demand for these lasers is also high in APAC. This requirement for safer drugs will fuel the growth of the global dermatological drugs market through 2022. Most of the demand for these dermatology devices is from the Americas, where countries such as the US and Brazil are the key markets. By 2023, the dermatology lasers market will grow at a CAGR of over 15% in the Americas. The adoption of anti-aging treatments is increasing in Asian countries where there is a high preference for skin rejuvenation treatments to minimize the signs of aging. European countries such as Italy, France, and Germany are also major markets for dermatology devices.
Aesthetic Health Market:
Medical aesthetics market size was $8.6 billion in 2016, which is probable to reach $19.4 billion by 2023, growing at a CAGR of 12.2% during the forecast period (2017-2023). Medical aesthetics is a branch of scientific research that uses minimal offensive treatments which help in improving a person’s physical presence, through the use of healthcare and beauty facilities in combination with lasers or other energy centred devices. Medical aesthetics comprise a broad range of solutions and treatments that fulfil the aesthetic desires of the consumers for the treatment of fine lines & wrinkle reduction, fat reduction, stretch marks solutions, scar treatment, skin oxygenation and rejuvenation, body contours and firming, botulinum toxin and skin shrinking.
Based on product, the medical aesthetics market is categorized into injectables, topicals, energy-based aesthetics, breast implants and others. Injectables apprehended the biggest share of the medical aesthetics market in 2016, chiefly due to high sales of botulinum toxin. Energy-based aesthetics is likely to grow at the fastest rate during the forecast period, owed to the growing approval of laser and radio frequency devices.
Based on the end user, the market is characterized into beauty clinics and centres, spas and salons, hospitals, and others. Beauty clinics and centres were the prime end user segment in 2016, due to the growing disposable income in numerous countries globally. The rise in the number of beauty clinics & centres has also been prospering the medical aesthetics market.
The global dermatology devices market is estimated to account a significant growth in the near future owing to rising prevalence of skin diseases such as acne, eczema, scars, psoriasis and other skin related diseases. The increasing consciousness about physical appearance and aesthetic awareness is expected to significantly fuel the growth of market globally. Moreover, growing demand for technically advanced diagnostics and therapeutics devices such as non-invasive cosmetic rectification procedures is also significantly boosting growth of the dermatology devices market.
Some of the key business players operating in the dermatology devices market include Derm, Alma Lasers, Lumenis, Aesthetic, 3Gen, Ambicare, Genesis Biosystems, Heine Optotechnik, Biolitec, Cortex Technology, Ellipse, Amd Global Telemedicine, Michelson Diagnostics, Dansys, Solta Medical, Hologic and Cutera. These business players focus on acquisitions, mergers, new product launch and collaborations to uphold their economic stability and withstand market competition. For instance, in April 2019, Alma Lasers has introduced BeautiFill, a single laser-based platform that produces superior quality autologous fat face contouring and for holistic body. The new product of the company will improve aesthetic medicines by increasing new treatment to practice, and that is anticipated to propel the growth of the market.
The increased demand for home-based devices, growing prevalence of obesity, is propelling adoption of dermatology devices. Furthermore, the rising geriatric population, improving healthcare expenditure, and growing disposable income are collectively advancing the demand for dermatology devices. However, numerous side effects of skin treatments and high cost associated with dermatology procedures may hamper the dermatology devices market growth.
Treatment dermatology devices segment is expected to register CAGR of 12.5% over the forecast period. The growing adoption of technically advanced treatment is substantially contributing towards high share of segment in the dermatology devices market. Furthermore, growing skin proficiency and rising prevalence of various skin disorders are motivating the growth of the dermatology treatment devices market globally. Among the dermatology treatment devices, Lasers segment is estimated to register significant growth during the forecast period. The growing adoption of laser therapy, for skin tightening, remove unwanted hair, fine lines, age spots, and wrinkles on the face is impacting towards high growth of segment in the global dermatology treatment devices market.
Skin rejuvenation segment is estimated to valued over USD 2 billion revenue share in 2018 and will witness lucrative CAGR by 2025. The growing aging population is enhancing demand for skin rejuvenation, that helps to look more youthful and healthier as it helps in substitution of old, damaged skin cells with new ones. Furthermore, application of these devices helps in promoting collagen to repairs skin tone and texture will thus improve dermatology devices industry growth.
Europe dermatology devices industry accounted for around 27% revenue share in 2018 and is calculated to witness a significant CAGR by 2025. The high adoption of technically advanced dermatology devices, well-established healthcare infrastructure will enhance the regional market growth. Moreover, high awareness about advanced skin treatment and diagnosis, growing demand for facial surgeries in the region along will spur Europe market.
