Report Description of the Turkey 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 Turkey Dermatology Device Device market
- To classify and forecast Turkey Dermatology Device Market market based on application, Device, project type, and application.
- To identify drivers and challenges for Turkey Dermatology Device market
- To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in Turkey Dermatology Device market
- To conduct pricing analysis for Turkey Dermatology Device Device market
- To identify and analyze the profile of leading players operating in Turkey 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
Turkey Dermatology Device Market Executive Summary
Dermatology refers to a science that deals with the diagnosis and treatment of skin hair and nail diseases. The increase in the prevalence of skin disorders across the region acts as one of the major factors driving the growth of dermatology devices market.
Market Size and Key Findings
The Turkey Dermatology Device market size is at around Turkey USD 2.48 billion in 2021 and is projected to reach Turkey USD 8.42 billion in 2028, exhibiting a CAGR of 19.06% during the forecast period.
According to the latest WHO data published in 2018 Skin Disease Deaths in Turkey reached 702 or 0.17% of total deaths. The age adjusted Death Rate is 0.91 per 100,000 of population ranks Turkey 124 in the world. Thus, the turkey dermatology market is growing during forecasting period.
Market Growth Drivers Analysis
Turkey dermatology devices market is expected to witness rapid growth, the current scenario, people of all age groups are increasingly concerned about enhancing their esthetic appeal, which will also support the market growth. Complete skin rejuvenation improves the esthetic appeal of a person. There has been a latent shift from using conventional products to technologically advanced equipment, which aids in better diagnosis and treatment of various skin diseases as well as in improving one’s overall appearance. Thus, the introduction of technologically advanced non-invasive laser therapies has led to the high demand for dermatology devices. Furthermore Rising incidence of skin diseases in Turkey is the prime factor accelerating the skincare devices business growth.
Reimbursement uncertainties and issues, and stringent regulatory policies for medical devices are expected to obstruct the market growth. Availability of low-cost substitutes is projected to challenge the dermatology devices market.
COVID-19 impact on “Turkey Dermatology Device Market”
Short-term negative growth was observed in the market due to almost complete suspension of non-COVID-19 related surgeries, limited operations of manufacturing, and disruption in the supply chain. However, the market has seen a V-shape recovery. With the successful rollout of vaccines in all regions, the volume of dermatological devices is beginning to recover to its pre-pandemic levels.
Some of the key players in the dermatology devices market are B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Heal Force Bio-meditech Holdings Limited, Johnson & Johnson Private Limited, Bovie Medical Corporation, Medtronic Plc, Smith and Nephew Co., AngioDynamics Inc., and Others
Products in Pipeline
STRATA Skin Sciences Announces Acquisition of Acne Treatment Device Assets from Theravant Corporation. Which will Creates a robust pipeline of new opportunities, targeting dermatologic conditions beyond acne, with a unique treatment approach.The acquisition of the TheraClear System provides STRATA with a safe and effective technology to complement and/or replace prescription drugs and topical creams.
Notable Recent Deals
Google as launched its dermatology AI app in June 2021. The AI-powered app will use image recognition to identify skin condition based on photos upload by a user. The app, however, did not acquire FDA certification, and hence, is only available in Europe as of now.
In August 2021, Strata Skin Sciences announced that it has completed the acquisition of Pharos dermatology from Ra Medical. This will give Strat Skin Sciences around 400 dermatology practices that were part of the Ra Medical customer base.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario of Turkey Dermatology Device Services
The Turkish Medicine and Medical Devices Authority (“TITCK”) recently issued a new Medical Devices Regulation (the “New Regulation”) revising the main framework governing the safety, marketing and clinical studies of medical devices.The New Regulation emphasis the concept of product safety and quality and introduces the following major changes: Substances, combinations of substances or appliances intended for use as a facial or other dermal or mucous membrane filler (excluding tattoo products); Equipment that emits high-intensity electromagnetic radiation intended for use on the human body, such as lasers and intense pulsed light (IPL).The New Regulation adopts the European Databank on Medical Devices (“EUDAMED”) system of the European Commission for the purposes of monitoring the safety and performance of medical devices. Accordingly, manufacturers are obliged to enter the information about medical devices (except for customised medical devices) into the EUDAMED system before placing them on the Turkish market.