The Europe dermatology treatment devices market is expected to reach US$ 2,198.26 million in 2027 from US$ 1,380.20 million in 2019. The market is estimated to grow with a CAGR of 6.2% from 2020 to 2027.
The growth of this market is attributed to the key driving factors such as rising prevalence of diseases associated with skin and rising investments in R&D. However, the market is expected to experience slow growth during the forecast period owing to negative consequences of 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 commonly occur in children and adults, leading to disability, and also account for the fourth leading cause of nonfatal diseases. Multiple studies have shown that skin diseases can have a significant impact on the quality of life of those affected. Skin diseases such as skin cancer and infections, are potentially life?threatening. Age-related skin disorders such as pigmentation, wrinkles, creases, acne, and burn scars caused during accidents are common among masses. In 2018, according to the British Association of Aesthetic Plastic Surgeons (BAAPS), more than 28,000 plastic surgeries were done, which witnessed a 0.1% rise from 2017. The number of cosmetic procedures was higher among women; in 2017, which accounted for ~92% of all dermatological procedures. In january 2020, the Ulster University Chancellor and the David Cross Foundation have launched a skin cancer awareness campaign. Moreover, almost 12,000 new melanoma cases were diagnosed in 2016, making melanoma the fifth most common cancer in Ireland. According to the article ‘Prevalence of skin disease in a population?based sample of adults from five European countries’ published in December 2017, nearly one?third of the population from different European regions were affected by warts. Moreover, other frequent skin conditions included acne, other types of eczema, contact allergy, AD, urticarial, and psoriasis. There was some proportions of the population affected by these conditions across different geographic regions like Germany, the Netherlands, and Sweden showing a significantly higher prevalence for all diseases assessed in this study than the southern provinces like Italy and Portugal. Thus, the rising prevalence of diseases associated with skin drives the growth of the dermatology treatment devices market.
The European economy is severely affected due increasing COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries. As per the Worldometer data, as of October 12, 2020, the reported COVID-19 cases are as follows: the UK (603,716), Spain (890,367), Italy (354,950), Germany (326,291), and France (734,974). Various companies have undergone severe losses in the last quarter of 2019, and the outbreak has negatively impacted the overall market in 2020. To control the spread of disease, countries have imposed complete lockdown, which has resulted in slow economic growth. Several companies have reduced their production to mitigate the spread COVID-19 and for the safety of their workforce.
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 Europe dermatology treatment devices market are British Association of Aesthetic Plastic Surgeons (BAAPS) and Journal of the European Academy of Dermatology and Venereology, among others.