The Global Skin Excision Market is estimated to be valued at US$ 29.9 billion in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031. Skin excision is a surgical procedure to remove lesions, moles, cysts, or other skin growths from the patient’s skin. It aims to diagnose and treat various skin conditions like skin cancers, viral infections, and abscesses. The procedure uses specialized surgical tools like scalpels, dermatomes, curettes, or surgical excision lasers to excise abnormal skin growths without affecting the surrounding healthy skin and tissues. The demand for skin excision procedures is growing due to the increasing prevalence of skin cancers worldwide.
Key Takeaways
Key players operating in The Global Skin Excision Market are Ethicon Inc., Richard Wolf GMBH, Becton, Dickinson and Company, Integra LifeSciences, Exsurco Medical, Limbs & Things LTD, KARL STORZ GmbH & Co. KG, Aesculap, Inc., Medtronic, Zimmer Biomet, B. Braun SE, Conmed Corporation, Symmetry Surgical Inc., and Surtex Instruments Limited.
The growing prevalence of various types of skin cancers like melanoma, basal cell carcinoma, and squamous cell carcinoma is a major factor driving the market growth. It is estimated that over 5.4 million new cases of non-melanoma skin cancers are diagnosed in the United States annually. Furthermore, factors like increasing awareness regarding early diagnosis of skin cancers, rising geriatric population, and growing number of cosmetic procedures are also fueling the demand for skin excision procedures globally.
The increasing preference for minimally invasive surgeries over conventional invasive procedures is another key factor propelling the growth of skin excision market. Advanced skin excision devices and emerging technologies like MOHS micrographic surgery are helping surgeons to perform surgeries with minimum tissue damage, blood loss, and scarring. Additionally, rising medical tourism in low-cost destination countries is also contributing to the global expansion of the skin excision market. Many countries in Asia Pacific and Latin America regions are emerging as top destinations for medical tourism due to availability of quality healthcare services at affordable costs. This is attracting patients from developed countries for skin excision and other cosmetic surgeries.
Market key trends
The introduction of advanced wound closure products and technologies is one of the key trends being witnessed in the global skin excision market. Companies are investing heavily in developing advanced wound closure products like skin staplers, adhesion barriers, advanced wound dressings, and topical skin adhesives. These new products aid in faster healing with reduced pain and scarring. Similarly, innovative laser-based technologies like CO2 lasers, Er:YAG lasers, and ablative fractional lasers for skin resurfacing are gaining popularity among physicians. They offer benefits like bloodless excision, very fine cuts, reduced operation time and minimized wound size leading to virtually scarless healing. Such advancements are expected to drive significant growth in the skin excision market during the forecast period.
Porter’s Analysis
Threat of new entrants: Low economies of scale in the industry make it difficult for new players to establish themselves. Bargaining power of buyers: Large number of alternative providers increases buyers’ bargaining power. Bargaining power of suppliers: Suppliers hold a stronger position due to specialized knowledge and differentiation. Threat of new substitutes: Scientific advancements may introduce new non-invasive substitutes to excision procedures. Competitive rivalry: Strong competition among established brands drives continued product innovation.
Geographical Regions
North America holds the largest share of the global skin excision market in terms of value, owing to high healthcare expenditure and focus on technological advancements in minimally invasive aesthetic treatments. Asia Pacific is expected to witness the fastest growth over the forecast period attributed to growing medical tourism, rapidly improving healthcare infrastructure, and rising medical expenditures in countries such as China and India.