Dermatology devices market to be worth $11.3 billion by 2027

The dermatology devices market is projected to reach $11.3 billion by 2027, compared to its estimated $6.2 billion value in 2022. 

According to a report by MarketsandMarkets, the dermatology devices industry is expected to see a compound annual growth rate (CAGR) of 12.7% during the forecasted period.

This growth is expected to be driven by the rising incidence of skin disorders, increasing awareness of aesthetic procedures and other technological advancements.

The demand for aesthetic procedures is also increasing the interest in treatment devices as well as aesthetic lasers and cosmetic dermatology. In 2021, the lasers segment accounted for the largest share of the dermatology treatment devices market.

Despite the projected growth for the market, MarketsandMarkets revealed that regulatory policies for medical devices are also expected to hinder market growth.

Dermatology devices help diagnose and treat skin disorders. These devices are used by various medical care providers, such as hospitals, dermatology clinics, physician offices and academic research institutes.

Among the "major players" listed in the report is Michelson Diagnostics Ltd. Founded in 2006, this UK company specialises in practical OCT dermatology applications for everyday use in skin research facilities and dermatology practices.