Pigmentation Disorder Treatment Market

Pigmentation Disorder Treatment Market Size (2023 to 2028)

The global pigmentation disorder treatment market is expected to grow from USD 4.6 billion in 2023 to USD 7.3 billion by 2028, growing at a CAGR of 7.80% from 2023 to 2028.

Impact of Covid-19 on the pigmentation disorder treatment market:

The COVID-19 pandemic crisis has had a steady impact on the global pigmentation disorder treatment market. Many healthcare facilities were more focused on the pandemic crisis to treat the patients affected by the novel coronavirus; hence many countries faced a decline in pigmentation disorder treatment due to the cancellation of non-essential medical procedures and services. Strict restrictions and lockdowns led to significant disruption in the global supply chains and hampered the production, distribution, and transportation of certain products associated with pigmentation treatment. These resulted in shortages and delays in the availability and impacted both patient access and gave significant losses to the market participants. The companies and research institution facilities have redirected their focus toward COVID-19-related research, which could have affected the pace of research and innovation in the field of pigmentation disorder treatment.

MARKET DRIVERS:

The growing prevalence of pigmentation disorders globally primarily drives the growth of the pigmentation disorder treatment market. Certain diseases, such as melisma and vitiligo, are more common among individuals with darker skin tones and are prevalent in many countries. Hormonal changes in women due to factors such as pregnancy and menopause can contribute to developing pigmentation disorders such as melisma. Sedentary lifestyle factors such as poor diet, mental stress, and irregular sleep pattern can majorly impact skin health and result in pigmentation disorder and have a significant impact on an individual’s appearance. Due to these situations, the emphasis on aesthetic and beauty standards is growing and people are more likely to seek treatment for cosmetic treatments.

The growing geriatric population globally contributes to the growth of the pigmentation disorder treatment market. As people age, the skin undergoes physiological changes, making it more susceptible to pigmentation disorder. Hormonal fluctuation also occurs with aging and contribute to the development of pigmentation disorder such as melasma. Aging can also lead to compromised skin barrier function, making the skin more susceptible to damage from environmental factors and exacerbating pigmentation disorder. Also, treating pigmentation disorder can contribute to improved self-esteem and confidence, positively impacting the quality of life for older individuals and propelling market growth.

Technological advancements in pigmentation disorder treatment further boost the market's growth rate. Technological advancements drive innovation, improve treatment efficacy, and help to enhance patient comfort. The recent Technological advancements significantly helped develop more effective and targeted treatment modalities for pigmentation disorder. Technology advancements also improved safety profiles, minimizing the risk of adverse effects and complications during and after treatment. Factors such as the growing aging population, rapid advancement in tissue engineering and adoption of novel techniques and rising geriatric population drive the market growth.

MARKET RESTRAINTS:

High costs associated with the treatment and lower healthcare budgets in developing countries are the major obstacle hindering the growth of the global pigmentation disorder treatment market. The cost of advanced pigmentation disorder treatment, such as laser therapies and specialized medication high for many individuals, especially in developing countries; this can lead to limited access to treatment options as the patient may be unable to afford the expenses associated with the procedures, also the lack of infrastructure leading to a shortage of specialized dermatologist and medical facilities that offer pigmentation disorder treatment, the lack of infrastructure can result in inadequate access to diagnosis and treatment for the affected individual. Inadequate reimbursement policies and lack of insurance coverage for pigmentation disorder treatment can further deter patients from seeking care. Thus, the lack of financial support can discourage both patient and healthcare provider from pursuing treatment options and hampering the overall growth of the market.

REPORT COVERAGE:

This research report on the global pigmentation disorder treatment market has been segmented and sub-segmented based on the disorder, treatment, and region.

Pigmentation disorder treatment Market – By Disorder:

• Albinism
• Vitiligo
• Melasma
• Post-Inflammatory Hyperpigmentation (PIH)

Based on disorder type, the albinism segment is anticipated to hold a major share of the global market during the forecast period owing to the growing patient population of albinism. Globally, albinism affects 1 in every 1500 individuals and fuelling the need for proper treatment.

The vitiligo segment is anticipated to grow at a healthy CAGR during the forecast period owing to the rising prevalence of pigmentation disorders such as vitiligo.

Pigmentation disorder treatment Market - By Treatment:

• Topical Treatment
• Dermabrasion
• Chemical peels
• Laser Treatment
• Phototherapy
• Other

Based on treatment type, the topical treatment segment is anticipated to hold the largest share of the global pigmentation disorder treatment market during the forecast period. The growing prevalence of pigmentation disorder needs efficient treatment and proper medication. Also, topical therapies can be used as maintenance therapy to prevent the recurrence of some illnesses or during the earliest stages of pigmentation disorders. Better outcomes may arise from early intervention, which could also decrease the need for more invasive operations and help in propelling segmental growth.

The dermabrasion segment is anticipated to hold a considerable share of the global market during the forecast period. Post-inflammatory hyperpigmentation (PIH) that develops after skin inflammation or damage can be treated using dermabrasion. Dermabrasion can make PIH seem better by removing the top layer of skin, promoting the development of new, less pigmented skin cells. Dermabrasion can be used in combination with other procedures to produce substantial effects. The overall effectiveness of the treatment for pigmentation disorders may be improved by this combination approach.

Pigmentation disorder treatment Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America led the market in 2022 and is expected to account for the major share of the global market during the forecast period owing to the growing prevalence of pigmentation disorder and the increasing geriatric population in the North American region. According to a report published by the US Bureau, over 57 million adults ages 65 and older live in the US, accounting for about 17.2% of the nation’s population, this causes a rising prevalence of certain skin-related and genetic disorders which need appropriate treatment, this factor driving the market growth in this region.

Europe was the second-largest regional market in 2022 and is anticipated to grow at a healthy CAGR during the forecast period. Factors such as the growing adoption of sedentary lifestyles and changing demographic patterns that result in the prevalence of pigmentation disorder in the European region propel the European market growth. Many European countries such as the UK, Germany and France have well-developed healthcare systems with access to medical technologies and skilled dermatologists. This infrastructure supports the availability of a wide range of pigmentation disorder treatment options. It ensures high-quality care to help in propelling the growth of the market in this region.

The Asia-Pacific region is expected to show lucrative growth in this region and is anticipated to dominate the market at a healthy CAGR during the projected period. People in the APAC area have a variety of skin tones and skin types. The region has a comparatively high prevalence of pigmentation disorders because of this diversity, as well as other elements like greater UV exposure, genetics, and environmental factors. Fair and even skin can be related to economic status, youth, and attractiveness in many APAC cultures. The need for therapies for pigmentation disorders that might help people in attaining their preferred skin tone is driven by this cultural preference. This factor favors the market growth in this region.

Latin America and Middle East and Africa region is also expected to show lucrative growth and grow at a significant CAGR in the global pigmentation disorder treatment market.

KEY MARKET PLAYERS:

The prominent key player in the global pigmentation disorder treatment market are Episciences, Inc., La Roche-Posay, Bayer AG, Allergan, Inc., SkinCeuticals International, Pierre Fabre Laboratories, Alvogen, Inc., Obagi Medical Products Inc., CLINUVEL PHARMACEUTICALS LTD, Clarify Medical, Inc., Incyte Corporation, Dr. Reddy’s Laboratories Ltd, Glenmark Pharmaceuticals Ltd, Teva Pharmaceutical Industries Ltd, Bausch Health, Novartis AG, Mylan N.V., Pfizer Inc., Panacea Biotec Ltd. Led the global pigmentation disorder treatment market.

RECENT MARKET DEVELOPMENTS:

• In July 2022, Opzelura (ruxolitinib) cream was given the thumbs-up by the US Food and Drug Administration for treating non-segmental vitiligo in adult and pediatric patients 12 years of age and older.
• In June 2022, A collaboration agreement was inked by Ahammune Biosciences Private Limited and Veeda Clinical Research Limited of India for the human trials of AB1001, an investigational new drug created by Ahammune as a topical therapy for vitiligo.
• In June 2021, the National Organization for Albinism and Hypopigmentation released a call for proposals with a grant of $100,000 that was solely focused on research into the development of treatments and biomarkers for all forms of albinism.