Major Market Drivers:
# Rising Incidence of Skin disorders
# Increasing Awareness on Aesthetic procedures
# Technological Advancement
# Increasing Healthcare expenditure
Restraints:
# Reimbursement Uncertainties and Issues
# Stringent Regulatory Policies
Opportunities:
# Emerging economies
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% during the forecast period.
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The growth of the dermatology devices market can be attributed to the increasing incidence of skin diseases, technological advancements, increasing healthcare expenditure, and growing awareness of aesthetic procedures.
Major players in the dermatology devices market include 3Gen, Inc. (U.S.), Alma Lasers, Ltd. (Israel), Bruker Corporation (U.S.), Carl Zeiss (Germany), Cutera, Inc. (U.S.), Cynosure, Inc. (U.S.), Genesis Biosystems (U.S.), HEINE Optotechnik GmbH & Co. KG (Germany), Lumenis, Ltd. (Israel), Michelson Diagnostics, Ltd. (U.K.), PhotoMedex, Inc. (U.S.), and Valeant Pharmaceuticals International, Inc. (Canada).
Alma Lasers, Ltd. (Israel) was the global leader in the dermatology devices market in 2015. The company’s dominance in the market can be attributed to its robust product portfolio and strong geographic presence. The company is innovation-centric and invests heavily in R&D for maintaining its market share. It also focuses on organic growth strategies such as new product launches to enhance its market share. In September 2016, Alma Lasers launched the Alma LipoLife 3G, a liposuction solution offering maximum safety and proven clinical results. This platform offers a complete, all-in-one solution covering all stages of liposuction, skin tightening, and fat grafting.
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
Cutera, Inc. (U.S.) held the second position in the dermatology devicesmarket in 2015. This can be attributed to the company’s strong dermatology products portfolio. The company adopted organic growth strategies such as new product development to boost its market share. In March 2016, Cutera received approval from Japan’s Ministry of Health, Labour and Welfare to market its enlighten picosecond laser platform for the treatment of benign pigmented lesions.
Cynosure, Inc. (U.S.) held the third position in the dermatology devicesmarket in 2015. The company is innovation-centric and invests heavily in R&D for maintaining its market share. Cynosure focuses on organic growth strategies such as product launches to enhance its market share. In July 2016, Cynosure received Health Canada medical device license approval to market its SculpSure product. This product is used in the treatment of noninvasive fat reduction.
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Based on the analysis of strategic developments undertaken by market players between 2012 and 2016, the key strategies followed by most companies in the dermatology devices market are product launches and acquisitions. Some of the leading players that adopted this strategy include Alma Lasers, Ltd. (Israel), Cutera, Inc. (U.S.), Cynosure, Inc. (U.S.), Lumenis, Ltd. (Israel), 3Gen Inc. (U.S.) Valeant Pharmaceutical (Canada), Carl Zeiss (Germany), Genesis Biosystems, Inc. (U.S.), HEINE Optotechnik GmbH & Co. KG (Germany), Michelson Diagnostics (U.K.), and PhotoMedex, Inc. (U.S.).
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.
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