Vitiligo Industry Growth Rate Affected by COVID-19 Pandemic:
In 2020, the vitiligo industry growth rate was affected by the COVID-19 pandemic. As the world haphazardly endeavoured to defeat a deadly virus, many vitiligo projects worldwide like in China, Germany, South Korea and the United States were put on hold. However, many promising drugs have yet continued to tick along in late-stage trials and approval discussions, accounting for a slow growth rate in the industry. According to the publisher, Global Vitiligo Market Size has reached US$ 3.5 Billion in 2021 post gradual recovery from the pandemic.
Pipe Line Drugs at Late Stages Provide Ray of Hope to Deal with Vitiligo Disorder:
Currently, there's neither a cure for vitiligo nor a universally accepted method for limiting the spread of the disease. Although visible symptoms are temporarily reversible with a range of treatments, their combination works far better than monotherapy. Presently, there are numerous Vitiligo Pipe Line Drugs in the industry, such as ARN-4079, ATI-502, AX-1602, BOS-475, CCP-070, Cerdulatinib (RVT-502), HuABC-2, Abatacept, Topical Ruxolitinib and VLRX-001 available. Further, the choice of drugs is often characterized by trial and error. Apart from the drugs, patients also try to restore pigmentation, camouflage the white patches, or destroy the remaining colour to have all-white skin to deal with vitiligo disorder.
Global Vitiligo Market registered a CAGR of 3.5% from 2021 to 2027:
Remarkably, vitiligo signs and activity vary considerably from person to person, and it is usually progressive. In numerous cases, the disease onset is before 20 years and is developed, especially in the first 10-20 years. However, the good news is that vitiligo, upsetting as it can be to those living with it, is neither life-threatening nor contagious. Additionally, the proper treatment protocol may effectively put it under control and reduce the appearance of white lesions. The market drivers such as increasing incidence of vitiligo disorder, changing lifestyle, rising awareness among the individuals and availability of appropriate treatment are further expected to expand the vitiligo market globally.
United States has the Largest Market for Vitiligo
The report covers countries like the United States, India, China, Japan, Germany, United Kingdom, Italy, and France constituting the vitiligo market. Globally, the United States market contributes for the largest market share for Vitiligo Market and dominates the overall market. Notwithstanding, increasing incidence of skin disorders such as vitiligo, increasing adoption rate of phototherapy treatment and rising investment in healthcare facilities are attributed to the growth factors.
India also holds a significant largest market share for vitiligo due to significant market players, increasing investment in research and development activities, and undergoing severe clinical trials. The United Kingdom is anticipated to expand the vitiligo market due to advancing government funding, fostering the adoption rate of new technology and drugs, and increasing medical tourism in its states.
Companies Working in Vitiligo Industry:
Recently the top key players in the Global Vitiligo Market are Incyte Corporation, Bristol-Myers Squibb, Clinuvel Pharmaceuticals Ltd, Astellas pharma inc and Baxter International Inc. In addition, for all the optimism surrounding vitiligo therapies from these big pharma companies, their side-effects and short-lived therapeutic effect is of great concern. The companies may further hold more hope for vitiligo patients and are most attractive for investors in the life sciences industry in the coming years.
This latest report “Vitiligo Market, Global Forecast byCountry (United States, United Kingdom, France, Germany, Italy, India, China and Japan), Vitiligo Pipe Line Drugs (ARN-4079, ATI-502, AX-1602, BOS-475, CCP-070, Cerdulatinib (RVT-502), HuABC-2, Abatacept, Topical Ruxolitinib and VLRX-001), Companies (Incyte Corporation, Bristol-Myers Squibb, Clinuvel Pharmaceuticals Ltd, Astellas pharma inc and Baxter International Inc.)” provides a detailed analysis of Global Vitiligo Industry.
Country - Vitiligo Patient Numbers & Market has been covered from 8 viewpoints:
1. United States
2. United Kingdom
3. France
4. Germany
5. Italy
6. India
7. China
8. Japan
Vitiligo Pipe Line Drugs market has been covered from 10 viewpoints:
1. ARN-4079
2. ATI-502
3. AX-1602
4. BOS-475
5. CCP-070
6. Cerdulatinib (RVT-502)
7. HuABC-2
8. Abatacept
9. Topical Ruxolitinib
10. VLRX-001
Company Insight:
- Overview
- Company Initiatives
- Financial Insight
Companies Covered:
1. Incyte Corporation
2. Bristol-Myers Squibb
3. Clinuvel Pharmaceuticals Ltd
4. Astellas pharma inc
5. Baxter International Inc.
Table of Contents
Companies Mentioned
- Incyte Corporation
- Bristol-Myers Squibb
- Clinuvel Pharmaceuticals Ltd
- Astellas pharma inc
- Baxter International Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 3.5 Billion |
| Forecasted Market Value ( USD | $ 4.3 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
