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Increase Skin Disorders and Increase in Aesthetic Procedures are the major Factors driving the Dermatology Devices Market

As stated in our extensive report by; providing insights on Diagnostic Device, Type, Application, and Region; the Global Dermatology Devices Market accounted for USD 12.19 Billion in 2021.

In recent medical procedures, dermatology devices assist dermatologists and surgeons in diagnosing and treating skin disorders. These devices increase the accuracy levels of dermatologists while diagnosing a particular type of skin disorder. These devices are used by medical care providers such as hospitals, dermatology clinics, physician offices, and academic research institutes.

Over the years, the incidence of skin cancer has risen rapidly across the globe. According to a study by the National Cancer Institute (U.S.), skin cancer represents 4.6% of all new cancer cases in the U.S. It is estimated that there will be 76,100 new cases of melanoma of the skin in 2014. The need to detect and treat such diseases at the earliest possible stage has driven the development of sophisticated and sensitive diagnostic instruments in the market. This in turn has increased competition among manufacturers and aided significantly in market growth.

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.

Dermatology Devices Market has been adversely affected in recent months owing to the outbreak of the pandemic, COVID-19, in December 2019. The outbreak has resulted in numerous countries imposing lockdowns and shutting down businesses except for essential services (allowed with minimum workforce). Several businesses have increased their focus on profitability and reduced their expenses in manufacturing, which is decreasing the demand for Dermatology Devices Market.

Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) in the coming years owing to the high demand for dermatology devices. Additionally, this region has the majority of healthcare facilities which is further creating demand for the market to flourish. Countries such as India & China are considered to be the most affected countries due to skin problems thus these countries need better dermatology devices. These are a few of the reasons is expected to grow in the coming years.

Developing economies like India, China, and the Middle East are considered to gain huge opportunities in the adoption of veterinary software. The Asia Pacific held the largest share of the Dermatology Devices Market in 2021, followed by Europe and North America. In major parts of the world, the market is still growing owing to insufficient funds, lack of awareness, minimum availability of Research and Development (R&D) facilities, underdeveloped healthcare infrastructure, and social constraints.

Major players of the Global Dermatology Devices Market such as Alma Lasers, Ltd., Cutera Inc., Cynosure Inc., Lumenis, Ltd., Valeant Pharmaceuticals International Inc., Gen, Inc., Bruker Corporation, Carl Zeiss, Genesis Biosystems Inc., HEINE OPTOTECHNIK GMBH & CO. KG, Michelson Diagnostics, Ltd., Photomedex Inc. and others.