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(Medical-NewsWire.com, April 02, 2020 ) 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%. 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. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
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).
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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.
Cutera, Inc. (U.S.) held the second position in the dermatology devices market 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 devices market 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.
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.).
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