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| Pigmentation Disorders Treatment Market |
Pigmentation Disorders Treatment Market, By Type of Disorder (Albinism, Vitiligo, Melasma, Post-Inflammatory Hyperpigmentation (PIH), and Other Types of Disorders), By Treatment Type (Topical Treatment, Dermabrasion, Chemical peels, Laser Treatment, Phototherapy, and Other Treatment Types), and By Geography (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028.
Market Overview:
Pigmentation disorders refer to conditions that cause abnormal coloration or discoloration of the skin, hair, or eyes. These disorders are characterized by an imbalance or dysfunction in the production, distribution, or regulation of melanin, the pigment responsible for giving color to the skin, hair, and eyes.
Competitive Landscape:
Major players operating in the global pigmentation disorders treatment market include SkinCeuticals, Candela Corporation, Merz GmbH & Co. KGaA, Galderma SA, Pfizer Inc., Obagi Cosmeceuticals LLC, Vital Esthetique, Pierre Fabre Group (Pierre Fabre Laboratories), L'Oreal SA, DermaMed Solutions LLC, Epionce, and AbbVie Inc.
Key Market Drivers:
The prevalence of pigmentation disorders is on the rise globally. Factors such as changing lifestyles, exposure to environmental pollutants, hormonal imbalances, and genetic predisposition contribute to the development of these conditions. This increasing prevalence creates a demand for effective treatment options. This is expected to augment the growth of the global pigmentation disorders treatment market.
The Global Pigmentation Disorders Treatment Market was valued at US$ 6.09 Bn in 2021 and is forecast to reach a value of US$ 9.68 Bn by 2028 at a CAGR of 6.9% between 2022 and 2028.
Significant advancements in treatment technologies, including laser therapy, phototherapy, topical creams, and surgical interventions, have expanded the treatment options available for pigmentation disorders. These advancements have improved the efficacy of treatments and provided more choices for patients and healthcare providers. For instance, in June 2021, the National Organization for Albinism and Hypopigmentation announced a proposal, which will focus on research related to therapeutics and biomarkers development, in order to treat albinism.
With the rising focus on aesthetics and appearance, individuals with pigmentation disorders are seeking treatments to address their concerns. The desire for even skin tone and improved appearance has fueled the demand for pigmentation disorders treatments, including cosmetic procedures and topical products. This is estimated to enhance the growth of the global pigmentation disorders treatment market.
Covid-19 Impact Analysis:
During the COVID-19 pandemic, individuals spent more time at home and paid greater attention to their skincare routines. This led to an increased demand for skincare products, including those targeting pigmentation disorders. Consumers sought over-the-counter remedies, homecare treatments, and online consultations to manage their conditions. This boosted the growth of the global pigmentation disorders treatment market. For instance, in September 2020, the Adventist Development and Relief Agency started a novel program in order to provide treatment for individuals suffering from albinism in Tanzania.
Key Takeaways:
North America is expected to dominate the growth of the global pigmentation disorders treatment market, owing to the presence of a well-established healthcare infrastructure, increased awareness about advanced treatment options, and high healthcare expenditure. The United States accounts for a significant market share in this region. For instance, in July 2022, the United States Food and Drug Administration gave approval to Incyte Corporation's Opzelura (ruxolitinib) cream in order to treat non-segmental vitiligo in individuals.
· The Asia Pacific is estimated to witness high growth in the global pigmentation disorders treatment market. Factors such as a large population base, increasing disposable incomes, changing lifestyles, and growing awareness about aesthetic Pigmentation Disorders Treatment Market growth. Countries like China, India, Japan, and South Korea are major contributors to the regional market. For instance, in June 2022, Veeda Clinical Research Limited and Ahammune Biosciences Private Limited signed a partnership deal for the human trials of AB1001, which is a topical treatment developed by Ahammune for vitiligo.
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