Global Vitiligo Treatment Market Research Report Forecast to 2030
- Market Report
- ID: BHA217GM
- Delivery Time: 1 Business Day
- Tag: Vitiligo Treatment
Market Overview
The Vitiligo Treatment Market was valued at USD 1.33 billion in 2021 and is projected to reach USD 2.26 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period from 2022 to 2030.
Vitiligo is a chronic dermatological disorder characterized by the loss of skin pigment due to the malfunctioning or death of melanocytes, the cells responsible for producing pigment. This leads to the development of well-defined white patches on the skin, which can expand and affect larger areas of the body. While treatment options exist to improve the appearance of the skin, there is currently no cure for vitiligo.
Product Type | Market Report |
---|---|
No. of Pages | 123 |
Release Date | March 2022 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Market Size | USD 1.3 billion in 2020 |
Market Segments | Type, Treatment Type, End-User, and Region |
Region | Global |
No. of Companies Mentioned | 10 |
The growth and demand for the vitiligo treatment market are primarily driven by the increasing importance of aesthetic appeal and awareness, as well as the rising prevalence of vitiligo cases. Additionally, advancements in technology proposing therapies for managing the complications caused by the disorder, along with government investments in healthcare infrastructure, contribute to market growth. The increasing number of clinical trials also presents significant opportunities for market expansion.
There is a large patient population suffering from vitiligo, and the growing awareness of the disease and the need for effective treatment options are driving market growth. Currently, there are no approved treatments for vitiligo, leading to a high demand for treatment options in both developed and developing markets. According to the American Academy of Dermatology (AAD), an estimated 84.5 million Americans, or one in four, are affected by vitiligo. Moreover, existing treatment options often have limited effectiveness, resulting in relapses of vitiligo in previously treated areas of the skin. These factors, combined with the strong R&D pipeline of new treatment options by key market players, are major drivers of market growth. However, the lack of awareness among patients in emerging countries and lengthy regulatory approval processes limit the market’s growth rate.
Furthermore, there is a significant increase in consumer beauty consciousness driven by growing awareness of aesthetic treatments, higher per capita income, and the adoption of digital platforms. The International Society of Aesthetic Plastic Surgery (ISAPS) reports a 27.3% global growth in total non-surgical procedures, while the American Society of Plastic Surgeons (ASPS) notes a 200% increase in minimally invasive aesthetic procedures from 2000 to 2018. The demand for minimally invasive cosmetic procedures, including vitiligo treatment, is also supported by the rising geriatric population. These factors contribute to the overall revenue growth of the Vitiligo Treatment Market.
Market Segmentation
The market is segmented based on various factors, including type, treatment type, end-user, and region.
Segmentation by Type
Non-segmental Vitiligo
Segmental vitiligo
Segmentation by Treatment Type
Therapy
Surgery
Medication
Segmentation by End-User
Hospitals
Aesthetic Clinics
Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific – China, Japan, India, South Korea, Australia, Rest of Asia-Pacific
Rest of the World – Middle East, Africa, Latin America
The Vitiligo Treatment market is segmented based on type, treatment type, and end-user. In terms of type, the market is divided into non-segmental vitiligo and segmental vitiligo. The non-segmental vitiligo segment currently dominates the market due to the increasing number of patients diagnosed with this type of vitiligo. Furthermore, it is projected to be the fastest-growing segment between 2022 and 2031, primarily due to the heightened awareness about vitiligo symptoms and causes.
In terms of treatment type, the market is categorized into therapy, surgery, and medication. The medication segment holds the largest market share as it is the most commonly used and preferred treatment option for vitiligo. This can be attributed to the ease of use and wide availability of medications for vitiligo treatment.
When considering end-users, the market is segmented into hospitals and aesthetic clinics. The hospital segment is the dominant market segment as hospitals are typically the primary healthcare facilities where patients seek treatment for vitiligo, especially in cases where the condition is severe or widespread.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and the rest of the world. The North American vitiligo treatment market is expected to have the highest market share due to increased awareness, easy availability of medications, and a rising prevalence of vitiligo among adults. This region also benefits from a well-established healthcare sector and an increasing number of health clubs and fitness facilities, which further contributes to market growth.
In Europe, the vitiligo treatment market holds the second-largest market share, propelled by the adoption of advanced technologies and novel surgical techniques by key industry players. Among European countries, the German market holds the largest market share, while the UK market exhibits the highest growth rate.
The Asia-Pacific vitiligo treatment market is projected to grow at the fastest compound annual growth rate (CAGR) from 2023 to 2032. This growth can be attributed to increased healthcare expenditure and the surge in research and development activities in the pharmaceutical sector. Within the Asia-Pacific region, the Chinese market holds the largest market share, and the Indian market exhibits the highest growth rate in terms of vitiligo treatment.
Competitive Landscape
Prominent market players are significantly investing in research and development endeavors to expand their product portfolios, thereby fostering the growth of the Vitiligo Treatment market. These market participants are also actively engaging in strategic initiatives to broaden their market presence. Notable market developments include the introduction of new products, contractual agreements, mergers and acquisitions, increased investments, and collaborations with other organizations. In order to thrive in a highly competitive and evolving market environment, the vitiligo treatment industry must offer cost-effective solutions to drive expansion.
One of the key business strategies employed by manufacturers in the Vitiligo Treatment industry is local manufacturing to reduce operational costs, ultimately benefiting clients and expanding their market share. In recent years, the Vitiligo Treatment industry has provided significant advancements in medical solutions. Key players in the market, such as Incyte (US), Koninklijke Philips N.V. (Netherlands), Bausch Health Companies Inc. (Canada), Dr. Reddy’s Laboratories Ltd. (India), STRATA Skin Sciences (US), Clinuvel Pharmaceuticals Ltd (Australia), Roivant Sciences Ltd. (Switzerland), ISSAR Pharmaceuticals Pvt. Ltd. (India), Kernel Medical Equipment Co., LTD. (China), LightSource (US), and others, are striving to generate higher market demand through investments in research and development activities.
Strata Skin Sciences is an American medical device company specializing in the design, development, and commercialization of non-invasive tools that provide additional information to dermatologists during melanoma skin examinations. Furthermore, STRATA Skin Sciences, a medical technology company dedicated to developing, commercializing, and marketing innovative products for the treatment of various autoimmune skin diseases, announced its corporate sponsorship with the Vitiligo Foundation (GVF).
Celgene merged with Bristol Myers Squibb, creating a leading biopharmaceutical company with a strong position in discovering, developing, and delivering innovative medicines to patients combating serious diseases. Bristol-Myers Squibb acquired Celgene for a total of $74 billion.
Recent Industry Developments
In April 2022, Incyte and Maruho Co., Ltd. entered into a Strategic Alliance Agreement to jointly develop, manufacture, and exclusively market ruxolitinib cream in Japan. Ruxolitinib cream is a new formulation of Incyte’s selective JAK2 inhibitor ruxolitinib, specifically designed for the treatment of autoimmune and inflammatory dermatology conditions.
In March 2022, STRATA Skin Sciences, a medical technology company focused on the development, commercialization, and marketing of innovative products for the treatment of various autoimmune skin diseases, announced its corporate sponsorship with the Vitiligo Foundation (GVF).
Key Questions Answered
What is the valuation of the Vitiligo Treatment market?
What is the projected growth rate of the Vitiligo Treatment market?
Which region dominates the market share in the Vitiligo Treatment market?
Who are the major players in the Vitiligo Treatment market?
Which type of treatment is leading the Vitiligo Treatment market?
Which end-user segment holds the largest market share in the Vitiligo Treatment market?
USD 4,950 Original price was: USD 4,950.USD 2,970Current price is: USD 2,970.