Portland, OR, Oct. 12, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Dermatology Devices Market generated $8.8 billion in 2020, and is projected to reach $17.9 billion by 2030, witnessing a CAGR of 7.6% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Surge in preference of minimally invasive instruments, increase in prevalence of skin diseases, and rise in prevalence of aging associated diseases drive the growth of the global dermatology devices market. However, high price of dermatology devices restrains the market to some extent. On the other hand, growth potential in emerging economies presents new opportunities in the upcoming years.
COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to the implementation global lockdown and temporary travel restrictions, due to which the pharmaceutical and medical supply chains were completely disrupted.
- The healthcare workers, equipment, and facilities have been shifted to cope with the rising number of patients with COVID-19. As the majority of the clinics were instructed to be closed, the patients with dermatological problems consulted doctors virtually to avoid physical contact as much as possible, which in turn, hampered the global dermatology devices market.
The report offers detailed segmentation of the global dermatology devices market based on condition, age group, provider, and region.
Based on condition, the treatment devices segment held the highest market share in 2020, holding three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the diagnostic devices segment is estimated to register the highest CAGR of 7.8% from 2021 to 2030.
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Based on provider, the clinics segment held the largest market share in 2020, holding around half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 8.2% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths half of the total market share, and is estimated to continue its dominant share by 2030. However, Europe is projected to manifest the fastest CAGR of 8.0% during the forecast period.
Leading players of the global dermatology devices market analyzed in the research include Bayer AG, Johnson & Johnson, Pfizer Inc., Novartis AG, GlaxoSmithKline plc, AstraZeneca, Galderma S.A., Amgen Inc., AbbVie Inc., and Merck KGaA.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
