Pigmentation Disorders Treatment Market to Reach US$ 9.68 Billion by 2028: Coherent Market Insights
The global pigmentation disorders treatment market was valued at US$ 6.09 Bn in 2021 and is forecast to reach a value of US$ 9.68 Bn by 2028 at a CAGR of 6.9% between 2022 and 2028.
/EIN News/ -- Burlingame, June 26, 2023 (GLOBE NEWSWIRE) -- The amount of brown pigment or melanin, which is produced by certain cells in the skin known as melanocytes determines the skin pigmentation. The color of skin depends upon presence of melanin in the body, which helps to protect from UV rays causing sunburn. However, in some cases, hyperpigmentation can be present, which is one of the pigmentation disorders. To treat these conditions there are various treatments available in the market. Some are topical medications, such as hydroquinone, azelaic acid, and L-ascorbic acid. Other treatment options include laser therapies and combination treatments.
Key Trends and Analysis of the Global Pigmentation Disorders Treatment Market:
High demand for topical treatment is a major trend expected to aid in growth of the global pigmentation disorders treatment market over the forecast period. Azelaic acid, L-ascorbic acid, and hydroquinone are the most common drugs prescribed all over the world. Topical treatment involves use of creams, ointments, lotions, serums for topically treating different conditions of pigmentation. Various active components are used to develop these products. Moreover, with growing R&D activities, market players are introducing novel products. These factors are in turn driving the demand for topical treatment. This trend is likely to continue in the market over the forecast future.
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Global Pigmentation Disorders Treatment Market – Drivers
Rising prevalence of pigmentation disorders to boost the market growth
The prevalence of pigmentation disorders is growing all over the world, which in turn is driving the demand for these disorders. For instance, pigmentary disorders, such as vitiligo, melisma, and lentigo can impact a person’s health and their life quality negatively. Due to this, the need for effective and safe treatment based on their effect on quality of life and prevalence is growing. As a result, this factor is anticipated to propel growth of the global pigmentation disorders treatment market over the forecast period.
Increase in demand for skin lightening procedure to propel the market growth
People around the world are increasingly up-grading their lifestyle, in turn the demand for skin lightening procedures is increasing all over the world. Melanin is a skin component, which is generated by certain cells in human body that regulate color of the skin. Pigmentation occurs from diseased or damaged melanin producing cells that end up producing either not enough or more than enough melanin. With changing lifestyle, and prevalence of hyperpigmentation conditions, the demand for skin lightening treatment is increasing. This in turn is expected to aid in growth of the global pigmentation disorders treatment market over the forecast period.
Pigmentation Disorders Treatment Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2021: | US$ 6.09 Bn | |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2028 | |
| Forecast Period 2022 to 2028 CAGR: | 6.9% | 2028 Value Projection: | US$ 9.68 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Abbvie Inc. (Allergan Inc.), Episciences Inc., L'ORÉAL SA (SkinCeuticals International), and Pfizer Inc., among others. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Pigmentation Disorders Treatment Market – Restrain
High cost of treatment to hinder growth of the market
The cost of pigmentation treatment is based on the type of treatment and the sittings need for correcting the skin. The cost of laser pigmentation treatment is high across several regions. In India for instance, the cost of this laser treatment ranges between Rs 5,000 to 8,000 each session. However, the overall cost of pigmentation treatment depends on factors such as type of skin, strength of pigmentation, area of skin requiring treatment, and underlying health condition among other factors. Thus, the high cost of treatment limits its adoption, which is further expected to hamper growth of the global pigmentation disorders treatment market over the forecast period.
Global Pigmentation Disorders Treatment Market – Opportunities
Increasing number of companies taking initiatives such as product approvals, launches, and partnerships. This in turn is creating lucrative opportunities in the global pigmentation disorders treatment market. For instance, in October 2021, Uniza Heathcare, an Indian pharma company introduced Vitellus, a lotion for managing Vitiligo in the Indian market. The new product was developed in collaboration with Lucas Meyer Cosmetic, and Amvigor Organics. With such initiatives, the treatment options in the market are expanding, which in turn is supporting the market growth.
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Global Pigmentation Disorders Treatment Market - Key Developments
In October 2022, Scientis, a leading company in the science of skin discoloration announced to have received the prestigious 2022 Allure Best Beauty Breakthrough Award for its Cyspera Intensive System. The award recognizes the best beauty innovations in all categories.
In July 2022, the U.S. Food and Drug Administration (FDA) granted approval to Incyte Corporation for its Opzelura (Ruxolitinib) cream to treat non-segmental vitiligo in pediatric patients aged 12 and above as well as for adults.
In June 2022, Ahammune Biosciences Private Limited signed a collaboration agreement with Veeda Clinical Research Limited of Idia for the human trials of AB1001. The trial is for testing the novel experimental medication that is developed by the company as a topical therapy for vitiligo.
Key Market Takeaways:
Global pigmentation disorders treatment market is expected to exhibit a CAGR of 6.9% during the forecast period. The pigmentation disorders treatment market is growing rapidly in response to the rising global population. For instance, specific pigmentation disorders develop more in geriatric population, as their skin becomes more avascular with age. Thus, this factor is likely to boost the market growth in the coming future.
On the basis of Type of Disorder, Albinism Segment is expected to dominate the market during the forecast period and this is attributed to the increasing cases of albinism, which is a rare genetic disorders causing hair, skin, or eyes to have minimum to no color. With increasing prevalence of this disorder, the demand for pigmentation disorders treatment is increasing, which is further driving the market growth.
On the basis of Treatment Type, Topical Treatment Drugs Segment is expected to dominate the market during the forecast period and this is attributed to the rise in demand for topical treatment. With increasing clinical outcomes in people with pigmentation disorders, the demand for topical therapy is increasing. The high prevalence of melisma in the white population, is leading to adoption of topical treatment. As a result, the segment is gaining traction in the market.
On the basis of Geography, North America is expected to hold a dominant position over the forecast period, due to growing prevalence and awareness of pigmentation disorders, and presence of well-established hospital infrastructure and key players in the region.
Competitive Landscape:
Key players operating in the global pigmentation disorders treatment market include Pfizer Inc., Abbvie Inc. (Allergan Inc.), L'ORÉAL SA (SkinCeuticals International) and Episciences Inc.
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Detailed Segmentation:
Global Pigmentation Disorders Treatment Market, By Type of Disorder:
- Albinism
- Vitiligo
- Melasma
- Post-Inflammatory Hyperpigmentation (PIH)
- Other Types of Disorders
Global Pigmentation Disorders Treatment Market, By Treatment Type:
- Topical Treatment
- Dermabrasion
- Chemical peels
- Laser Treatment
- Phototherapy
- Other Treatment Types
Global Pigmentation Disorders Treatment Market, By Region
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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