Pigmentation Disorder Treatment Market Research, 2031
The global pigmentation disorder treatment market was valued at $799.8 million in 2021, and is projected to reach $1,220.91 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031. Skin pigmentation diseases are conditions that affect the skin's natural pigment. Melanin is a pigment that gives skin its color. It is created by melanocytes, a type of skin cell. Numerous medical issues may contribute to skin pigmentation disorders. Pigmentation disorders can manifest as hypopigmentation, depigmentation, or hyperpigmentation. Areas might be spread out or concentrated. In depigmentation, the pigment is completely gone, leaving behind white skin, whereas it is diminished in hypopigmentation. Several specific conditions, including vitiligo, dark skin, and melasma, can cause skin pigmentation. Hypopigmented conditions include vitiligo, pityriasis alba, tinea versicolor, and post-inflammatory hypopigmentation.
Increase in number of people suffering from pigmentation disorders is the key factor driving the pigmentation disorder treatment market growth. China, India, and other Asian countries have a large patient pool suffering from pigmentation disorders and this has resulted in the need for effective therapies for pigmentation disorders. Therefore, the research and development initiatives taken by key market players is anticipated to foster the growth of the market. In addition, increased government spending on the pharmaceutical and biotechnology sectors in developing nations, expansion of healthcare infrastructure, and rise in demand for advanced treatments for pigmentation disorders are anticipated to boost the market for pigmentation disorder treatment market forecast.
Furthermore, rise in awareness about pigmentation disorders is expected to drive the market growth during the forecast period. Many government organizations are taking initiatives to create awareness among the people about pigmentation disorder. There is no permanent cure for some pigmentation such as vitiligo conditions and ablinism, the light therapy cost is high. Procedures are highly expensive. In addition, depending on the area of skin treated, the cost of alternative therapies like laser therapy varies for restoring pigmentation. Thus, high cost of treatments for pigmentation disorders is anticipated to limit the adoption of treatments during the forecast period.
Conversely increase in demand for better healthcare services, the healthcare sector in both developed and emerging economies is growing at significant rate is a lucrative pigmentation disorder treatment market opportunity. Increased government spending on the pharmaceutical and biotechnology sectors in developing nations, the expansion of healthcare infrastructure, and the rising demand for advanced treatments for pigmentation disorders are all anticipated to boost the market for pigmentation disorder treatments during the forecast period.
Impact of COVID-19
The COVID-19 epidemic is predicted to have a negative impact on the growth of the global pigmentation disorder market. However, throughout the epidemic, despite the recommendations to maintain social distance, many individuals treated their illnesses via self-medication or other unconventional methods. Manufacturing, logistical, and transportation operations were disrupted during the lockout, which hampered market expansion. Numerous individuals who suffer from these disorders preferred to stay home out of fear of contracting COVID, thus affecting the pigmentation disorder industry.
The pigmentation disorder market is segmented on the basis of type, treatment, distribution channel, and region. On the basis of type, the market is categorized into vitiligo, melasma and others. Vitiligo is further classified as segmental and non-segmental. By treatment, it is divided into corticosteroids, calcineurin inhibitor, and others. By distribution channel, it is segmented into hospital pharmacies, drug store & retail pharmacies and online pharmacies. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).
By type, the market is segmented into vitiligo, melasma and others. The vitiligo segment dominated the pigmentation disorder treatment market share in 2021, and is expected to witness highest CAGR during the forecast period, owing to rise in prevalence of the vitiligo.
Vitiligo segment dominated the market in 2021, and is expected to continue this trend during forecast period
Depending on treatment, the market is divided into corticosteroids, calcineurin inhibitor, and others. The corticosteroids segment dominated the pigmentation disorder treatment market size in 2021, and is expected to witness highest CAGR during the forecast period owing to rise in demand for corticosteroids as it shows significant results.
Corticosteroids segment dominated the market in 2021, and is expected to continue this trend during forecast period
Depending on distribution channel, the market is divided into hospital pharmacies, drug stores and retail pharmacies, and online providers. The drug store and retail pharmacies segment dominated the pigmentation disorder treatment market size in 2021, owing to maintenance of treatment for long time and easy availability of drugs. The online pharmacies segment is expected to witness highest CAGR during the forecast period owing to its discounts offered to the customers.
North America accounted for a majority of the global pigmentation disorder market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to rise in awareness and prevalence of the pigmentation disorders, presence of key and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing rise in prevalence of pigmentation disorders, development of healthcare infrastructure and increase in investments projects in the region.
North America dominated the market in 2021, and Asia-Pacific is expected to continue this trend during forecast period
The major players profiled in the report are Arcutis Biotherapeutics, Inc, Astellas Pharma Inc., Bausch Health Companies Inc, Dermavant Sciences Inc, Dr. Reddy,s Laboratories Ltd, Galderma S.A, Glenmark Pharmaceuticals Limited, Incyte Corporation, Obagi Cosmeceuticals LLC and Viatris Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pigmentation disorder treatment market analysis from 2021 to 2031 to identify the prevailing pigmentation disorder treatment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pigmentation disorder treatment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global pigmentation disorder treatment market trends, key players, market segments, application areas, and market growth strategies.
Pigmentation Disorder Treatment Market Report Highlights
Market Size By 2031
USD 1.2 billion
CAGR of 4.3%
2021 - 2031
By Distribution Channel
Key Market Players
Viatirs Inc. (Mylan N.V.), Dermavant Science Inc., Galderma SA, Bausch Health Companies Inc, Dr. Reddy's Laboratories Limited, Glenmark Pharmaceuticals Limited, Incyte Corporation, Astellas Pharma Inc., Obagi Cosmeceuticals LLC, Arcutis Biotherapeutics
This section provides opinions of top level CXOs in the global pigmentation disorder treatment market. According to the insights of CXOs, global pigmentation disorder treatment market is expected to exhibit high growth potential attributable to factors such as increase in prevalence of pigmentation disorders, rise in R&D activities in pharmaceutical industry for manufacturing novel therapies for pigmentation disorders and surge in number of approvals by U.S. food and Drug Administration (FDA) for drug treatments. Increase in prevalence of pigmentation disorders and better healthcare services is also expected to propel the growth of the pigmentation disorder treatment market.
Market growing at a steady rate in developed nations, Asia-Pacific and LAMEA are expected to offer high growth opportunities to key players in this market. According to the perspectives of CXOs of leading companies in the market, significant advancements in the pigmentation disorder with increase in clinically backed research, growing investments, funds, and grants, increasing incidence of pigmentation disorders, entry of new players, and growth in the awareness about pigmentation disorders is projected to increase the sale of pigmentation disorder globally