Report Description of the Malaysia Dermatology Device Market
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
- To analyze and forecast the market size of Malaysia Dermatology Device Device market
- To classify and forecast Malaysia Dermatology Device Market market based on application, Device, project type, and application.
- To identify drivers and challenges for Malaysia Dermatology Device market
- To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in Malaysia Dermatology Device market
- To conduct pricing analysis for Malaysia Dermatology Device Device market
- To identify and analyze the profile of leading players operating in Malaysia Dermatology Device market
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for Atopic Dermatitis drug market
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Atopic Dermatitis market
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy-based consulting analysis
Malaysia Dermatology Device Market Executive Summary
Skin diseases contributed to almost 1,000 deaths in Malaysia every year. This has been quite the trend for more than a decade now. Although skin diseases are not usually fatal, being in this position means that it has caused the death of more Malaysians as compared to more known diseases like dengue fever. Thus, dermatology device market will grow during the forecasting period.
Market Size and Key Findings
The Malaysia Dermatology Device market size is at around Malaysia USD xx billion in 2021 and is projected to reach Malaysia USD xx billion in 2028, exhibiting a CAGR of xx% during the forecast period.
According to the latest WHO data published in 2018 Skin Disease Deaths in Malaysia reached 989 or 0.70% of total deaths, consequently increaing in prevalence of skin disorders leading the dermatology device market.
Market Growth Drivers Analysis
The growth of this market is estimated to grow owing to key driving factors such as rising awareness regarding skin diseases and an increasing demand for aesthetic procedures. Furthermore rising prevalence of skin disorders and technological advancement of skin care devices likely to boost the dermatology device market in upcoming years.
The market is expected experiencing slow growth during the forecast period owing to concerns associated with dermatology treatment devices.
COVID-19 impact on “Malaysia Dermatology Device Market”
The outbreak of COVID-19 impacted the dermatology devices market. The closure of non-essential businesses created a disruption in the dermatology industry, and consumers are now looking for online cosmetic home treatments. The dermatology brands can exploit this opportunity to renovate their online offerings, offer e-consultation services, and invest in advanced technology as more consumers seek cosmetic advice from the comfort of their homes
The Dermatology Treatment Devices market report includes information on the product launches, sustainability, and prospects of leading vendors including: Biolitec Ag, Cynosure, Alma Lasers, Verisante, Michelson, Cutera, Ambicare Health Ltd, Lumenis, Ellipse A/S, Amd Global, Solta Medical, Syneron, Carl Zeiss Meditec, Fei Company, Waterpik, Fotofinder, Mela Sciences, Genesis Biosystems.Biolitec Ag, Cynosure, Alma Lasers, Verisante, Michelson, Cutera, Ambicare Health Ltd, Lumenis, Ellipse A/S, Amd Global, Solta Medical, Syneron, Carl Zeiss Meditec, Fei Company, and Waterpik.
Notable Recent Deals
In Jul 2020, Lancer Skincare announced the launch of its very first skincare exfoliating device, the Pro Polish Microdermabrasion Device. Pro Polish enhances the efficacy of the Lancer routine by delivering surface-layer microdermabrasion in a patented, handheld device.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario of Malaysia Dermatology Device Services
The key legislation for the medical dermatology device industry in Malaysia is the Medical Device Act 2012. Medical devices must be registered before they can be used and sold in Malaysia by licensed establishments. In Malaysia, medical dermatology devices are classified into 4 risk classes, namely Class A (Minimal), Class B (Low to Moderate), Class C (Moderate to High) and Class D (High). Manufacturers must ensure that their products conform to Essential Principles of Safety and Performance (EPSP) and Good Manufacturing Practices (GMP) standards and that a Conformity Assessment Body (CAB) certification is obtained in order to receive MDA approval for their product registration application. Moreover, a medical device cannot be imported, exported, or placed on the market unless it is registered. A single producer or authorised agent can only register one medical device. Multiple registrations of the same product are not permitted.