Pigmentation Disorders Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: February 22, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 6.2 billion |
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Revenue Forecast in 2030 |
US$ 11.2 billion |
|
CAGR |
6.8% |
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Base Year For Estimation |
2021 |
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Forecast Period |
2022-2030 |
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Historical Year |
2020 |
|
Segments Covered |
Product Type, Treatment Type, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global pigmentation disorders treatment market was valued at US$ 6.2 billion in 2021 and is expected to register a revenue CAGR of 6.8% to reach US$ 11.2 billion by 2030.
Pigmentation Disorders Treatment Market Fundamentals
Pigmentation disorders, such as melasma, hyperpigmentation, and vitiligo, can be very bothersome and embarrassing. These skin conditions are caused by sun exposure, hormones, and certain medications, and can lead to uneven skin tone and patches of discoloration. Fortunately, there are a few treatments available that can help improve the appearance of these skin conditions. One of the most common treatments for pigmentation disorders is topical creams and ointments. These topical treatments contain active ingredients, such as hydroquinone, kojic acid, and azelaic acid, which can help lighten discolored areas and even out the skin tone. Sunscreen use is also extremely important when treating pigmentation disorders, as UV rays can aggravate the condition and worsen discoloration. In addition to topical creams, chemical peels can also be used to treat pigmentation disorders. Chemical peels involve the application of a strong chemical solution to the skin in order to remove the top layers of skin cells. This can help lighten dark spots, reduce fine lines and wrinkles, and even out skin tone. In more severe cases of pigmentation disorders, laser therapy may be necessary. Laser therapy works by targeting the pigment-producing cells in the skin, destroying them and thus lightening the skin. Lasers are not recommended for pregnant women as they can cause birth defects.
Treatment for pigmentation disorders typically consists of topical medications, light-based therapies, and/or laser treatments. The pigmentation disorders treatment market is highly competitive, with several multinational companies, such as Allergan, Johnson & Johnson, and Galderma, competing to increase their market share. These companies are investing heavily in research and development projects to develop new products, treatments, and therapies. The increasing awareness regarding skin health and the rising number of innovative product launches are expected to drive market revenue growth in the next few years. The key players operating in the pigmentation disorders treatment market, including Allergan, Johnson & Johnson, Galderma, and Merz Pharma, are focusing on product innovation, strategic partnerships, and acquisitions to consolidate their market position.
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Pigmentation Disorders Treatment Market Dynamics
The revenue growth of the global pigmentation disorders treatment market is attributed to the increasing prevalence of pigmentation disorders and the growing expenditure on dermatological treatments. The rising awareness about the available treatment options for pigmentation disorders is further propelling market revenue growth. Additionally, the increasing acceptance of cosmetic pigmentation treatments is driving the demand for pigmentation disorder treatments. Various technological advancements in the treatment of pigmentation disorders have also played a major role in the development of the global pigmentation disorders treatment market. For instance, laser treatments have emerged as a preferred treatment option for the removal of pigmentation disorders. These laser treatments offer higher efficacy in the treatment of pigmentation disorders as compared to traditional treatments.
The rising healthcare expenditure and increasing inclination towards preventive healthcare measures are acting as major growth drivers for the pigmentation disorders treatment market. Moreover, the development of new products and technologies for the treatment of pigmentation disorders has enhanced market revenue growth. For instance, the introduction of new, non-invasive treatments, such as chemical peels and bleaching agents, boosts the market demand. The rising awareness about skincare is also expected to drive the revenue growth of the market.
The cosmetic industry is using various marketing strategies to increase awareness about the importance of skincare. In addition, the rising number of skincare products available in the market, such as sunscreens, lightening creams, and exfoliants, is expected to boost the demand for pigmentation disorder treatments.
However, the high cost of cosmetic procedures and inadequate reimbursement policies are expected to hamper the market’s revenue growth during the forecast period.
Pigmentation Disorders Treatment Market Ecosystem
The global pigmentation disorders treatment market has been analyzed from four perspectives: product type, treatment type, distribution channel, and region.
Pigmentation disorders treatment Market by Disease Type
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Based on disease type, the global pigmentation disorders treatment market has been segmented into albinism, vitiligo, melasma, post-inflammatory hyperpigmentation (PIH), and others.
The melasma segment dominated the global pigmentation disorders treatment market in 2021. Melasma is the most common type of pigmentation disorder. It is characterized by dark patches on the face, neck, chest, or arms. It is caused by an overproduction of melanin, the pigment that provides skin its color. Treatment options for melasma include topical treatments, such as hydroquinone, kojic acid, azelaic acid, and retinoids. Laser treatments, such as intense pulsed light and fractional laser treatments, may also be used to reduce the appearance of dark patches.
Pigmentation disorders treatment Market by Treatment Type
Based on treatment type, the global pigmentation disorders treatment market has been segmented into topical treatment, laser treatment, chemical peel, dermabrasion, phototherapy, and other treatments.
The topical treatment segment is expected to dominate the global pigmentation disorders treatment market revenue share during the forecast period, owing to the improved clinical outcomes in patients suffering from pigmentation disorders. Azelaic acid, hydroquinone, and L-ascorbic acid are some of the most commonly given topical medications worldwide. Topical treatments include creams, lotions, ointments, and serums topically to treat various pigmentation problems. These products are developed using a variety of active components. The increasing research and development activities and product launches by key players are boosting market revenue growth. Also, increase in the number of partnerships among key players, aimed at performing clinical trials to develop a topical treatment, is expected to boost the segment’s growth during the forecast period.
Pigmentation disorders treatment Market by Distribution Channel
Based on the distribution channel, the global pigmentation disorders treatment market has been segmented into drugstores and cosmetic stores, dermatology clinics, online pharmacy, aesthetic clinics, and others.
The online pharmacy segment is expected to gain a dominant market position during the forecast period due to the rise in the inclination of people toward buying pigmentation disorder treatment through online retailers.
Pigmentation disorders treatment Market by Region
Based on region, the global pigmentation disorders treatment market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America occupies a major revenue share of the global market as a result of pigmentation disorders’ rising incidence in the region. Also, post-inflammatory hyperpigmentation patients in North America have access to excellent treatment choices owing to the region’s developed healthcare infrastructure and large number of market participants. According to a report from the U.S. National Library of Medicine’s National Center for Biotechnology Information, albinism is more prevalent in the American region, with prevalence rates of 1:10,000 among African Americans and 1:36,000 overall. Hence, the market for pigmentation disorders treatment is anticipated to register growth at a significant pace in the next few years owing to the rise in the prevalence of albinism in the nation.
Pigmentation Disorders Treatment Market Competitive Landscape
The prominent players operating in the global pigmentation disorders treatment market are:
Pigmentation Disorders Treatment Market Strategic Developments
The global pigmentation disorders treatment market is expected to register growth at a revenue CAGR of 6.8% during the forecast period.
Healio, Obagi Cosmeceuticals LLC, DermaMed Solutions LLC, Pfizer Inc., and Vital Esthetique are among the key players in the global pigmentation disorders treatment market.
The topical treatment segment dominates the global pigmentation disorders treatment market.
Asia Pacific is likely to register growth at high revenue CAGR during the forecast period.
The global pigmentation disorders treatment market was valued at US$ 6.2 billion in 2021.
*Insights on financial performance are subject to the availability of information in the public domain