Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Vitiligo Treatment market.
Trusted Business Insights presents an updated and Latest Study on Vitiligo Treatment Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Vitiligo Treatment market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global vitiligo treatment market size was valued at USD 1,243.8 Million in 2018 and is projected to reach USD 1,944.5 Million by 2026, exhibiting a CAGR of 5.8% in the forecast period
We have updated Vitiligo Treatment Market with respect to COVID-19 Impact.
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There is an ever-increasing demand for new and innovative treatment for the management of vitiligo, a disease that causes an extensive loss of pigmentation in the human skin. Among the treatment segment, the largest share of the market was attributed to topical treatment in 2018.
The ever grossing need for new treatment options for vitiligo, with an aim to gain the first regulatory approval for the vitiligo treatment, has been instrumental in the increasing R&D initiatives for itiligo treatment. Market players are constantly focusing on the development of new vitiligo treatment options, to improve the efficiency and outcomes of the treatment in the patient population. This is anticipated to contribute to the swelling of the vitiligo treatment market size. In June 2019, Incyte reported positive results from a Phase 2 study of ruxolitinib cream in patients suffering from vitiligo.
“”Strong R&D pipeline and positive results of clinical studies to drive the market growth””
A large patient pool is globally suffering from vitiligo and the increasing awareness regarding the disease and the subsequent need for advanced and effective treatment options are driving the vitiligo treatment market growth. As of now, there is no approved treatment option for vitiligo, and this has led to increasing demand for vitiligo treatment options in both developed and developing markets. According to the American Academy of Dermatology (AAD), an estimated 84.5 million or one in four Americans, suffer from vitiligo.
Also, in the existing vitiligo treatment options there is a distinct lack of effective treatment options which can often lead to the relapse of vitiligo in the patches of skin previously treated. These factors, combined with the strong R&D pipeline of new vitiligo treatment options of key market players, are some of the major factors driving the market in 2018. However, lack of awareness among the patient population regarding vitiligo treatment in emerging countries, combined with long procedure for regulatory approvals, are factors limiting the growth of global market.
Based on the treatment, the market segments include topical treatment, light therapy, surgical procedures, and others. The topical treatment segment dominated the market in 2018. The segment accounted for 54.7% share of the market in 2018. Based on disease type, the market segments include nonsegmental vitiligo, and segmental vitiligo. Based on end user, the global market segments include hospitals, aesthetic clinics (SLT), and others.
“”High prevalence of vitiligo in the U.S. and the presence of key market players are fueling the demand for vitiligo treatment in North America””
There is a large patient pool in emerging countries including China, India, and other South-east Asian countries in the Asia Pacific suffering from vitiligo and this has resulted in the need for effective treatment options for vitiligo. The countries in the Latin America and Middle East & Africa has potential for future growth due to vitiligo being more noticeable in darker skinned individuals. However, there is a high number of R&D initiatives and higher adoption of vitiligo treatment among healthcare providers in the U.S., and the number of patients suffering from vitiligo are increasing.
The increasing demand of advanced vitiligo treatment options is also anticipated to drive the vitiligo treatment market revenue in Europe. The market for Vitiligo Treatment in North America was valued at USD 314.1 Million in 2018. The market in Asia Pacific is projected to demonstrate a comparatively higher CAGR during forecast period, owing to high patient pool. The market in Middle East & Africa, and Latin America accounted for a comparatively small share of the market in 2018.
North America Vitiligo Treatment Market Size, 2018
Key Market Players
“”Incyte, Astellas Pharma, Ltd., and Bausch Health Companies Inc., dominated the global vitiligo treatment market in 2018″”
In the market, a number of key market players are competing for gaining the dominant market share. A well-established R&D pipeline in the vitiligo treatment, combined with recent positive clinical results is instrumental in the dominance of these players in the vitiligo treatment market share. However, other market players are expanding their R&D portfolio of vitiligo treatment, along with focusing on the subsequent product approvals, and are expected to gain market share during the forecast period.
List of Companies Profiled
- Incyte Corporation
- Astellas Pharma Inc.
- Bausch Health Companies Inc.
- Baxter International Inc.
- Pfizer Inc.
- STRATA Skin Sciences
- Reddys Laboratories Ltd.
- Other players
According to the American Academy of Dermatology (AAD), vitiligo affects an estimated one in four individuals in the U.S. Also, an estimated 1%-2% of the global population is estimated to be suffering from vitiligo. This large patient pool suffering from vitiligo, combined with increasing demand for advanced treatment options, is leading to rising demand for vitiligo treatment globally. The anticipated introduction of new products in the market, along with an increasing number of patients undergoing vitiligo treatment globally is projected to further augment the demand for vitiligo treatment during the forecast period.
The vitiligo treatment market report provides qualitative and quantitative insights on the industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market segments include treatment, disease type, end user, and geography. On the basis of the treatment, the vitiligo treatment market segments include topical treatment, light therapy, surgical procedures, and others. Based on disease type, the global market is segmented into nonsegmental vitiligo, and segmental vitiligo. Based on end user, the market is segmented into hospitals, aesthetic clinics, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.
Along with this, the report analysis includes market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of vitiligo by key countries, overview of pipeline analysis, recent industry developments such as mergers & acquisitions, recent developments in R&D, and others.
- Topical Treatment
- Light Therapy
- Surgical Procedures
By Disease Type
- Nonsegmental Vitiligo
- Segmental Vitiligo
By End User
- Aesthetic Clinics
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Key Industry Developments
In June 2019, Incyte reported positive results from a Phase 2 study of ruxolitinib cream in patients suffering from vitiligo
In June 2014, Dr. Reddys announced the launch of Melgain lotion, the first peptide-based drug for the treatment of vitiligo in India
Quick Read Table of Contents of this Report @ Vitiligo Treatment Market Size, Share and Industry Analysis By Treatment (Topical Treatment, Light Therapy, Surgical Procedures, Others), By Disease Type (Nonsegmental Vitiligo, Segmental Vitiligo), By End User (Hospitals, Aesthetic Clinics, Others) and Regional Forecast, 2020 – 2029 (Includes COVID-19 Business Impact)
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