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Vitiligo Treatment Market Expected to Reach $625.8 Million by 2031—Allied Market Research

 
2022
Vitiligo Treatment Market

Report Code : A31464

quote Rise in prevalence of vitiligo conditions, rise in demand for effective and advanced treatments for vitiligo, rise in number of clinical research, and rise in awareness regarding vitiligo in developed countries such as U.S. and Germany are some factors that boost the growth of the vitiligo treatment market. quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Vitiligo Treatment Market," The vitiligo treatment market size was valued at $410.54 million in 2021, and is estimated to reach $625.8 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031.

Vitiligo, known as piebald skin or leukoderma, is a dermatology disorder caused due to deficiency of melanin pigment and characterized by development of white spots on the skin. This condition tends to advance over the time, with larger depigmentation spots on the skin, however in some individuals, patches can remain stable. It is an autoimmune physical disorder, sometimes transmitted genetically from parent to offspring.

The symptoms of vitiligo are patchy loss of skin color, whitening of the hair present on scalp, and loss of color from mucous membrane. Furthermore, people with vitiligo are more susceptible to get other autoimmune diseases such as Addison’s disease and hypothyroidism. The long-term effects of vitiligo are mental stress, skin cancer, iritis, and hearing loss due to loss of cochlear melanocytes.

Depending on the severity of patches, there are three types of vitiligo namely generalized or non-segmental, segmental, and mucosal. Generalized vitiligo is the most common type of vitiligo in which white patches appear all over the body. In segmental vitiligo, the white patches are restricted to one area such as hands or face.

The mucosal vitiligo affects the mucosal membrane of mouth and genital areas. Furthermore, vitiligo does not cause serious health problems however may result in physical complications such as sunburn, eye problems, and more likely to develop other autoimmune diseases. Moreover, the medicinal treatments for vitiligo are intended to restore uniform skin color, however does not cure the disease permanently. 

Vitiligo treatment market trends which drive the growth of the market include, increase in prevalence of vitiligo and rise in demand for advanced & effective treatments for vitiligo conditions. 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 contributes towards the global market growth. For instance, Incyte Corporation a pharmaceutical company, reported positive results for phase-2 study of Ruxolitinib for the treatment of vitiligo. 

However, high cost of treatments and side effects associated with medications are expected to hinder growth of the market during vitiligo treatment market forecast. For instance, long term use of topical corticosteroids can lead to skin thinning, high blood pressure, and fluid retention. Moreover, the rise in awareness regarding vitiligo in developing countries and increase in healthcare expenditure are the factors anticipated to create opportunities for market growth during the forecast period.

Depending on drug class type, the vitiligo treatment industry is fragmented into corticosteroids, calcineurin inhibitor, and others. The corticosteroid segment was the major revenue contributor in 2021, and expected to exhibit fastest growth during the forecast period, owing to rise in demand for corticosteroids as it shows significant result in non-segmental vitiligo treatment.

On the basis of type, the vitiligo treatment industry is bifurcated into segmental and non-segmental. The non-segmental segment was the has largest vitiligo treatment market share contributor in 2021, and is expected to exhibit fastest growth during the forecast period, owing to high prevalence of non-segmental vitiligo as it is the most common type of vitiligo.

On the basis of distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. The drug stores and retail pharmacies segment dominated the market in 2021, owing to increased sale of medicines from drug stores & hospital pharmacies and increase in patients seeking treatments for vitiligo conditions.

However, online providers segment is expected to exhibit fastest growth during the vitiligo treatment market analysis, owing to rise in customers buying medicines online as it gives huge amount of discounts on medications.

Region wise, North America has the highest vitiligo treatment market share in 2021, and is expected to maintain its lead during the forecast period, owing to rise in awareness about vitiligo conditions, availability of treatments, and increase in research activities for developing novel therapies for vitiligo.

However, Asia-Pacific is expected to exhibit fastest growth during the forecast period, owing to high prevalence of vitiligo among adults and rise in initiatives taken by government of various countries to spread awareness about vitiligo. For instance, the World Vitiligo Day is observed on 25th of June every year.

KEY FINDINGS OF THE STUDY 
• Based on drug class type, the corticosteroids segment dominated the vitiligo treatment market size in 2021. 
• On the basis of type, non-segmental segment dominated the market in 2021.
• By distribution channel, drug stores and retail pharmacies segment dominated the market in 2021.
• Based on region, North America dominated the market in 2021 and is expected to grow at a CAGR of 3.4%. 

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quote Vitiligo Treatment Market by Drug Class Type (Corticosteroids, Calcineurin Inhibitor, Others), by Type (Segmental, Non Segmental), by Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, Online Providers): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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