The Pigmentation Disorders Treatment Market is expected to grow with a CAGR of 9.7% during the forecasted period. The key factors propelling the growth of this market are rising up-gradation of lifestyle coupled with the increasing demand for skin lightening is a major factor anticipated to drive the global pigmentation disorder treatment market. Additionally, increasing the aging population, increasing incidence of skin disorders, and growing disposable income are the few other factors boosting the global pigmentation disorder treatment market.
As per Vitiligo Research Foundation latest data 2020, the total number of people suffering from vitiligo is estimated at around 65-95 million people worldwide. However, the actual number may be much higher because vitiligo is an underreported disease. Furthermore, the high adoption of cosmetic procedures and skin care products is also anticipated to drive market growth during the forecast period. However, high costs and side effects associated with cosmetic procedures and unfavorable reimbursement is restraining the market growth.
Key Market Trends
Topical Treatment Segment is Expected to Hold Significant Market Share Over the Forecast Period
- Currently, topical treatment is dominating the global market due to the improved clinical outcomes in patients suffering from pigmentation disorders. The most common topical drugs prescribed globally are azelaic acid, hydroquinone, L-ascorbic acid, etc. Topical therapy includes hydroquinone as a first-line agent also with a retinoid for treatment of melasma due to its highest rate in the white population.
- As per National Clinical Trials (NCT) registry, as of June 18, 2020, Incyte Corporation is conducting a clinical trial for Ruxolitinib in the treatment of Vitiligo which is in phase II development in the United States. This factor will boost the market if Ruxolitinib drug gets approved for the treatment of Vitiligo in the near future.
- Chemical peels have found prominence in the past decades to treat facial hyperpigmentation disorders. Chemical peels are the products in which a chemical solution is applied to the face, neck, and hands to exfoliate the dead skin cells, stimulate the growth of new skin cells and followed by the release of cytokines and inflammatory mediators, resulting in thickening of the epidermis, deposition of collagen, reorganization of structural elements, and increases in dermal volume.
- This process reduces solar elastosis, replaces and reorients the new dermal connective tissue, resulting in an enhanced clinical appearance of the skin, with fewer rhytides and reduced pigmentary dyschromia, and a more youthful appearance.
- Thus, owing to above mentioned factors the segment is expected to show significant growth over the forecast period.
North America is Expected to Dominate the Global Pigmentation Disorders Treatment Market
- North America dominates the global pigmentation disorders treatment market owing to the rising pigmentation disorders. Presence of well-established healthcare infrastructure and major market players providing effective treatment options to the patients suffering from post-inflammatory hyperpigmentation in North America.
- As per the National Organization for Albinism and Hypopigmentation 2018, in the United States, about one in 18,000 to 20,000 people had some type of albinism. In other parts of the world, the occurrence can be as high as one in 3,000.
- Asia Pacific region is experiencing a swift pace in the global pigmentation disorders treatment market due to the increasing beauty consciousness among Asians, rapid entry of new players into the market and expansion by the major players into the emerging economies.
The Pigmentation Disorders Treatment Market is fragmented competitive. The major players are focused on expanding their business in different areas by adopting various market strategies such as partnerships, collaborations, acquisitions, and mergers, etc. Key developments in the market include in July 2019, Dermatix, a brand of A.Menarini Singapore Pte Ltd has just launched its new acne scar care, Dermatix Acne scar consisting of snail slime extract and Hyaluronic Acid combating post-acne skin discoloration, the treatment gel contains Niacinamide (Vitamin B3) to reduce hyperpigmentation.
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