The Asia Pacific dermatology treatment devices market is expected to reach US$ 1,680.81 million in 2027 from US$ 962.14 million in 2019; it is estimated to grow with a CAGR of 7.4% from 2020 to 2027.
The growth of this market is attributed to the key driving factors such as rising awareness regarding skin diseases and increasing demand for aesthetic procedures. However, the market is expected to experience slow growth during the forecast period owing to the concerns associated with 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.
Skin diseases in developing countries have a severe impact on the quality of people’s lives, causing lost productivity at work and school and discrimination due to disfigurement. Various changes in the texture, colour or appearance may also indicate the presence of more severe diseases that need treatment. Rising awareness of skin diseases to improve aesthetic appeal is high in China. For instance, The “New Oxygen 2019 White Paper on Medical Aesthetics Industry” stated that in 2018, the consumption of Chinese aesthetic treatment ranked first in the world, exceeding that of the US and South Korea and Non-surgical facial rejuvenation projects such as photon skin rejuvenation, thermal frequency tightening, and thermal lifting have increased by 92.64%. Also, the growing prevalence of skin diseases in Japan is likely to demand dermatology treatment devices. As per The International Society of Aesthetic Plastic Surgery (ISAPS) annual Global Aesthetic Survey, in 2017, Japan is one of the top five countries contributing to 38.4% of the world’s cosmetic procedures. The World Cancer Research Fund, in 2018, Australia had the highest rate of melanoma, 33.6 is the Age-standardized rate per 100,000. Skin cancer patients need dermatology treatment, which demands dermatology treatment devices. Thus, the rising awareness regarding skin diseases is propelling the market growth.
Countries in the Asia Pacific are facing challenges due to increasing number of COVID-19 cases. As per Worldometer data, as of October 12, 2020, the reoprted COVID-19 cases are as follows: China (85,578), Japan (88,912), India (7,120,538), and Australia (27,285) confirmed cases. In India, due to 50,000 daily cases of COVID-19, nearly a dozen states have imposed partial lockdown in high-risk areas. The focus on dermatological treatments is less as the government and population in the region are focused on COVID-19. The dermatology clinics, hospitals, and surgical centers are open only for emergency services. China is explicitly facing issues due to disruption of the supply chain, decrease in revenue and sales across industries, and the health concerns within the production factories and other public spaces. Due to this pandemic, medical tourism has also declined in the regions such as South Korea and Japan, which is negatively impacting the sales of dermatology treatment devices.
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 Asia Pacific dermatology treatment devices market are International Society of Aesthetic Plastic Surgery (ISAPS) and Australian Bureau of Statistics National Health Survey, among others.