Pigmentation Disorder Treatment Market Expected to Reach $1.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Pigmentation Disorder Treatment Market," The pigmentation disorder treatment market was valued at $799.79 million in 2021, and is estimated to reach $1,220.91 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031.

Hypopigmentation, depigmentation, or hyperpigmentation are all symptoms of pigmentation disorders. Areas could be dispersed or focused. While pigment is reduced in hypopigmentation, it is completely removed in depigmentation, leaving white skin. The majority of the time, focal hyperpigmentation is post inflammatory in character, developing following trauma or other causes of inflammation. Pigmentation disorder is abnormality in the skin tissues, which can be diagnosed, evaluated, and treated in primary care practices. Skin color is caused by the melanin pigment. Melanocytes, a type of skin cell, produces it. Disorders of skin pigmentation can be brought on by a variety of medical conditions. Melasma, dark skin, and vitiligo are a few particular disorders that can result in skin discoloration. Vitiligo, pityriasis alba, tinea versicolor, and post inflammatory hypopigmentation are all conditions of hypopigmentation.

The pigmentation disorder treatment market growth is driven by increase in patients suffering from pigmentation disorder. A significant rise in patients suffering from various pigmentation disorders such as vitiligo, melasma, post-inflammatory pigmentation drives the market growth. In addition, there is a sizable patient population in China, India, and other Asian nations which suffers from pigmentation disorders, necessitating the development of efficient treatments for these conditions. Furthermore, pigmentation disorder treatment market trends include rise in R&D activities for effective vitiligo treatment and a rise in awareness regarding pigmentation disorders that also are expected to significantly contribute toward the growth of the pigmentation disorder industry.

One of the major factors that drives the growth of the pigmentation disorder treatment market is increase in prevalence of pigmentation disorders. For instance, according to IP Indian Journal of Clinical and Experimental Dermatology published in January 2022, India is considered to have highest prevalence of vitiligo about 8.8%. In addition, increase in healthcare spending, rise in number of clinical research and product approvals contribute toward the global market growth. For instance, in July 2022 Incyte Corporation got approval from U.S. Food and Drug Administration (FDA) for its Opzelura (ruxolitinib) cream 1.5% for the topical treatment of nonsegmental vitiligo in adult and pediatric patients 12 years of age and older.

High cost of treatments for pigmentation disorders is anticipated to limit the adoption of treatments during the forecast period. There is no permanent cure for some pigmentation such as vitiligo conditions and ablinism, the light therapy cost is high. However, vitiligo surgery 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 is the major hindrance expected to hamper the growth of the market. However, strict regulatory rules and long procedures for drug approvals hinder the growth of the market. On the other side, increase in healthcare expenditure is expected to create opportunities for the growth of the market.

By type, the market is segmented into vitiligo, melasma and others. The vitiligo segment generated maximum revenue in 2021, and is expected to witness highest CAGR during the forecast period, owing to rise in prevalence of vitiligo.

By treatment, the market is divided into corticosteroids, calcineurin inhibitor, and others. The corticosteroids segment dominated the market 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.

By 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 huge discounts offered online to the customers.

North America accounted for a majority of the global pigmentation disorder treatment 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, and presence of key and robust healthcare infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in prevalence of pigmentation disorders, development of healthcare infrastructure and increase in investments projects in the region.

 Key findings of the study
•    By type, the vitiligo segment was the highest contributor to the market in 2021.
•    By treatment, the corticosteroids segment was the highest contributor to the market in 2021.
•   By distribution channel, the hospital pharmacies segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.
•  Region wise, North America held the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.