The dermatology industry goes far beyond purely cosmetic appeal. The increasing prevalence of skin cancer and other common skin disorders contributes significantly to the large interest in dermatology devices.
The global dermatology device market size was valued at $11.8 billion in 2019 and is forecasted to register a CAGR of 15.1% over the next few years. And this only means one thing—dermatologists need the newest and most effective devices for their patients.
While there’s a medical interest in dermatology, there’s also a growing interest in cosmetic procedures. Technological advancements in dermatology devices have accelerated the success of dermatological and cosmetic treatments, and in addition, the rise in disposable income is also considered to be driving the market for dermatology devices. Even so, dermatology reaches beyond skin care clinics, with dermatology devices also being used in many hospitals and dermatology clinics to treat skin disorders.
As people become more aware of skin conditions and strive to achieve today’s beauty standards, they become more interested in dermatology treatments, particularly non-invasive ones. Most people aren’t interested in going under the knife to enhance their features or treat skin conditions and this is where light therapy plays a crucial role in the global dermatology market.
Let’s take a look at the global market and its need for light therapy devices. The rise in skin diseases is amongst the factors that are anticipated to drive the light therapy market in the Asia Pacific. Emerging markets, such as China and India, offer high growth potentials to market players. North America dominated the global light therapy market in 2018 due to the rise in the prevalence of skin disorders, including eczema and skin cancer.
Procedures associated with non-invasive cosmetic correction have witnessed a surge in demand, with the growing geriatric population, soaring healthcare expenditure, and rising disposable income of people in developing and developed countries. As much as the rise in disposable income is contributing, the high costs of dermatology devices are still preventing the full market surge.
Many technological advancements are being manufactured amongst dermatology devices, for example – laser instruments and light therapy. LED light therapy devices are being purchased more and more, as light therapy production is significantly increasing. The market of light therapy devices is predicted to witness a 5.1% CAGR from 2021 to 2027—meaning if you’re a dermatologist without a light therapy device, you’re missing out on a huge opportunity.
How does LED light therapy work?
While it focuses on improving a person’s overall well-being, it focuses on penetrating at the cellular level, rejuvenating and healing damaged cells. Essentially, light therapy works from within. We can use light therapy for detox purposes and for other issues ranging from superficial skincare to healing inner tissue damage, thus strengthening the body and overall organism.
Light therapy can also aid in skin concerns such as stretch marks, providing the skin with an increase in collagen production. Improved cellular turnover provides skin with increased elasticity and collagen wherever the device is used on the body, whether it be via a face mask, lamp, or panel. Stretch mark reduction is estimated to continue being the second largest application of dermatology devices in the market, estimated to reach US$ 4 billion by 2026.
As you can see, the light therapy market is bringing in non-invasive, non-pharmaceutical treatment options for the public, fulfilling both cosmetic and medical needs. It’s no wonder light therapy is expected to explode with success.
Dermatology clinics are expected to register the highest CAGR during the forecast period. As the demand increases, dermatologists need their hands on the latest and most effective light therapy devices. Luckily, Kaiyan products are MDA-certified and FDA-approved light therapy devices designed for clinical use, and we can even private label devices for skincare professionals. They can be tailored to your clients, providing them with regulated and high-quality treatment for their medical and cosmetic needs.
