The global pigmentation disorders treatment market was valued at USD 5,991.24 million in 2021 and is expected to reach USD 9,207.26 million by 2027, registering a CAGR of 7.14% over the forecast period.
The COVID-19 pandemic has impacted the pigmentation disorder treatment market. A survey was conducted by Hamilton Fraser Cosmetic Insurance, in March 2020, of 1,360 cosmetic practitioners in the UK to assess the impact of the pandemic. The survey found that 99.78% of them had their practice affected by the pandemic. During the COVID-19 pandemic, there is a need to triage patients and avoid unnecessary admission related to minor trauma and other ailments. It is also advisable to not call patients to the hospital for regular check-ups and minor issues. Although non-urgent clinical and surgical procedures need to be postponed until the situation improves, the hospital must ensure the quality of care provided to the patients. As most cosmetic procedures can be categorized as non-essential, the market studied has been hugely affected.
The growth of the global pigmentation disorders treatment market is attributed to factors such as the increasing prevalence of pigmentation disorders and the growing expenditure on dermatological treatments.
Typical pigmentation disorders include post-inflammatory hyperpigmentation, melasma, solar lentigines, ephelides (freckles), vitiligo, and café au lait macules, among others. These conditions are generally benign but can be distressing to patients.
Appropriate dermatologic history, skin examination, and skin biopsy can help exclude melanoma and its precursors. In addition to addressing the underlying condition, pigmentation disorders are treated with topical agents, chemical peels, cryotherapy, light or laser therapy, or a combination of these methods.
According to a research article published in Karger Journal in 2021 by Naik PP, a high prevalence of pigmentary disorders in dark-skinned people (South/Southeast Asian, Hispanic/Latin American, African descent) has been reported. Also, pigmentary disorders are the third and fourth more common dermatoses in Blacks and Hispanics, respectively. Thus, the high prevalence of pigmentation disorders is expected to boost the market. Furthermore, the increasing product launches are also driving the market growth. For instance, in February 2020, PCA SKIN reinvented two of its most popular chemical peels and added a new physician-only chemical peel, making it the most comprehensive portfolio of professional peels.
Thus, the market studied is expected to witness significant growth over the forecast period due to the abovementioned factors. However, the high cost of cosmetic procedures and inadequate reimbursement policies are expected to hamper the market’s growth over the forecast period.
Key Market Trends
Topical Treatment Segment Expected to Hold Significant Market Share over the Forecast Period
The topical treatment segment is currently dominating the global market due to improved clinical outcomes in patients suffering from pigmentation disorders. The most common topical drugs prescribed globally are azelaic acid, hydroquinone, L-ascorbic acid, etc. Topical treatment includes topical application of creams, lotions, ointments, and serums formulated using various active ingredients to treat different pigmentation conditions.
The increasing research and development activities and launches by key players are boosting the market. For instance, as per the National Clinical Trials (NCT) Registry, as of June 18, 2020, Incyte Corporation was conducting a clinical trial for Ruxolitinib in the treatment of Vitiligo, which is in phase II development in the US. This factor will boost the market if the Ruxolitinib drug gets approved for the treatment of Vitiligo in the near future.
Additionally, topical corticosteroids (TC) application to treat pigmentation disorders is one of the most successful treatment options. Some commonly used corticosteroids are fluticasone propionate, betamethasone valerate, and hydrocortisone butyrate, among others.
According to a February 2021 research article published in the Journal of Investigative Dermatology, titled, “Efficacy and Safety of Tacrolimus 0.1% for the Treatment of Facial Vitiligo,” results demonstrated that usage of tacrolimus 0.1% ointment twice-daily showed superior efficacy with 65% therapeutic success in 42 tacrolimus-treated patients.
According to a June 2019 research article published in Science Daily by researchers from Tufts Medical Center in Boston, the topical ruxolitinib cream was extremely effective in reversing the effects of vitiligo. The development of these therapies promises to increase the accessibility of an effective, non-invasive treatment option for hand tremors. Thus, all these developments in the market are expected to offer immense growth opportunities to the segment.
The graph below shows how the aging population is increasing in several parts of the world. As the aging process modifies the pigmentary system and uneven pigmentation is one of the major changes associated with aging, this may lead to increased demand for topical treatments in aging populations.
North America Expected to Dominate the Global Pigmentation Disorders Treatment Market
North America dominates the global pigmentation disorders treatment market owing to the increasing prevalence of pigmentation disorders. North America also has a well-established healthcare infrastructure and major market players providing effective treatment options to patients suffering from post-inflammatory hyperpigmentation. According to an article published by the National Center for Biotechnology Information, US National Library of Medicine in August 2021, albinism is higher in the American region with prevalence amounting to 1:10,000 among African Americans and 1:36,000 among overall Americans. Thus, the increasing prevalence of albinism in the country is expected to boost the pigmentation disorder treatment market.
The growing R&D for drug development and clinical studies is expected to drive the market over the forecast period. For instance, according to the National Clinical Trials (NCT) Registry, as of June 21, 2021, in the US, there were 19 vitiligo related trials under development (with the status “Active, Not Recruiting,” “Enrolling by Invitation,”' and “Recruiting”), which is expected to show a positive impact on the market studied. Since vitiligo is a very common skin pigmentation disorder, increasing trials are expected to provide more treatment options, thus aiding demand.
In addition, some of the leading market players, such as Obagi Cosmeceuticals, Alvogen, and AbbVie Inc., are expected to boost market growth due to the availability of different products. Various strategies, such as research and development, mergers and acquisitions, and product launches, are being adopted by domestic companies to strengthen their market position. In January 2020, Eli Lilly signed a definitive agreement to acquire dermatological drug developer Dermira in a USD 1.1 billion all-cash deal, adding commercial and late-stage drugs to its portfolio. This is expected to boost its dermatological treatment pipeline. Thus, the market for pigmentation disorders treatment in the North American region is expected to grow at a decent rate over the forecast period.
The pigmentation disorders treatment market is fragmented and competitive. The major players are focused on expanding their business in different areas by adopting various market strategies, such as partnerships, collaborations, acquisitions, mergers, etc. In July 2019, Dermatix, a brand of A. Menarini Singapore Pte Ltd, launched its new acne scar care Dermatix Acne scar, consisting of snail slime extract and Hyaluronic Acid for combating post-acne skin discoloration. The treatment gel also contains Niacinamide (Vitamin B3) to reduce hyperpigmentation.
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1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Prevalence of Pigmentation Disorders
4.2.2 Growing Expenditure on Dermatalogical Treatments
4.3 Market Restraints
4.3.1 High Cost of Cosmetic Procedures
4.3.2 Inadequate Reimbursement Policies
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.4 Post-inflammatory Hyperpigmentation (PIH)
5.1.5 Other Types of Disorders
5.2 Treatment Type
5.2.1 Topical Treatment
5.2.3 Chemical Peels
5.2.4 Laser Treatment
5.2.6 Other Treatment Types
5.3.1 North America
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6.1.1 AbbVie Inc. (Allergan Inc.)
6.1.2 Episciences Inc.
6.1.3 DermaMed Solutions LLC
6.1.4 L'Oreal SA
6.1.5 Pierre Fabre Group (Pierre Fabre Laboratories)
6.1.6 Vital Esthetique
6.1.7 Obagi Cosmeceuticals LLC
6.1.8 Pfizer Inc.
6.1.9 Galderma SA
6.1.10 Merz GmbH & Co. KGaA
6.1.11 Alvogen Inc.
6.1.12 SkinCeuticals International
A selection of companies mentioned in this report includes:
- AbbVie Inc. (Allergan Inc.)
- Episciences Inc.
- DermaMed Solutions LLC
- L'Oreal SA
- Pierre Fabre Group (Pierre Fabre Laboratories)
- Vital Esthetique
- Obagi Cosmeceuticals LLC
- Pfizer Inc.
- Galderma SA
- Merz GmbH & Co. KGaA
- Alvogen Inc.
- SkinCeuticals International