The global Pigmentation Disorders Treatment Market was valued at USD 5,591.98 million in 2020, and it is expected to reach USD 8,593.68 million by 2026, registering a CAGR of 7.14% during the forecast period.
The COVID-19 has impacted the pigmentation disorder treatment market. According to a survey by Hamilton Fraser Cosmetic Insurance, in March 2020, with 1,360 cosmetic practitioners in the United Kingdom to assess the impact of the pandemic stated that 99.78% said that their practice had been affected by the pandemic outbreak. During the COVID-19 crisis, there is a need to triage the patients and avoid unnecessary admission, related to minor trauma and other ailments. There is also a need for not calling the patients to the hospital as far as possible, for regular check-ups and minor issues. Although non-urgent clinics 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 studied market has been hugely affected.
The growth of the global Pigmentation Disorders Treatment market is attributed to the factors such as the increasing prevalence of pigmentation disorders, along with 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 the International Journal of Molecular Sciences in 2018, 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, owing to the abovementioned factors, the studied market is expected to witness significant growth over the forecast period. However, the high cost of cosmetic procedures and the inadequate reimbursement policies are expected to hamper the growth of the studied market over the forecast period.
Key Market Trends
Topical Treatment Segment is Expected to Hold Significant Market Share Over the Forecast Period
Currently, topical treatment segment is dominating the global market due to the 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 that are formulated using various active ingredients to treat different pigmentation conditions.
As per the National Clinical Trials (NCT) registry, as of June 18, 2020, Incyte Corporation is conducting a clinical trial for Ruxolitinib in the treatment of Vitiligo which is in phase II development in the United States. This factor will boost the market if 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 of the commonly used corticosteroids are fluticasone propionate, betamethasone valerate, and hydrocortisone butyrate, among others.
According to the 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 twice-daily tacrolimus 0.1% ointment showed superior efficacy with 65% Therapeutic success in 42 tacrolimus-treated patients.
According to the June 2019 research article published on SCIENCE DAILY by researchers from Tufts Medical Center in Boston, results demonstrated that Topical ruxolitinib cream was extremely effective in reversing the effects of vitiligo. The development of these therapies holds the promise to increase the accessibility of an effective, non-invasive treatment option for hand tremors. Thus, all these developments currently happening in the market are expected to offer immense growth opportunities to the segment.
The graph mentioned below suggests that how aging population are increasing in several parts of the worlds. As the aging process modifies the pigmentary system, and uneven pigmentation is one of the major changes associated with aging, which may lead to increased deman of topical treatments in aging population.
North America is Expected to Dominate the Global Pigmentation Disorders Treatment Market
North America dominates the global pigmentation disorders treatment market owing to the rising pigmentation disorders. Presence of well-established healthcare infrastructure and major market players providing effective treatment options to the patients suffering from post-inflammatory hyperpigmentation in North America. As per the National Organization for Albinism and Hypopigmentation 2018, in the United States, about one in 18,000 to 20,000 people had some type of albinism. In other parts of the world, the occurrence can be as high as one in 3,000.
For instance, according to the National Clinical Trials (NCT) Registry, as of June 21st, 2021, in the United States, 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 is expected to provide more treatment options, thus aiding demand.
In addition, the presence of some of the leading market players, such as Obagi Cosmeceuticals, Alvogen, and AbbVie Inc., is 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 adopted by domestic companies to strengthen their market position. In January 2020, Eli Lilly signed a definitive agreement to acquire the dermatological drug's 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 competitive. The major players are focused on expanding their business in different areas by adopting various market strategies such as partnerships, collaborations, acquisitions, and mergers, etc. Key developments in the market include in July 2019, Dermatix, a brand of A.Menarini Singapore Pte Ltd has just launched its new acne scar care, Dermatix Acne scar consisting of snail slime extract and Hyaluronic Acid combating post-acne skin discoloration, the treatment gel contains Niacinamide (Vitamin B3) to reduce hyperpigmentation.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence and of Pigmentation Disorders
4.2.2 Growing Expenditure on the Dermatalogical Treatments
4.3 Market Restraints
4.3.1 High Cost of the 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 MARKET SEGMENTATION
5.1 By Type of Disorder
5.1.4 Post-Inflammatory Hyperpigmentation (PIH)
5.1.5 Other Type 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
22.214.171.124 United States
126.96.36.199 United Kingdom
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 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbVie Inc (Allergan, Inc)
6.1.2 Episciences, Inc.
6.1.3 DermaMed Solutions, LLC
6.1.4 L'Oreal S.A.
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 S.A.
6.1.10 Merz GmbH & Co. KGaA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
A selection of companies mentioned in this report includes:
- AbbVie Inc (Allergan, Inc)
- Episciences, Inc.
- DermaMed Solutions, LLC
- L'Oreal S.A.
- Pierre Fabre Group (Pierre Fabre Laboratories)
- Vital Esthetique
- Obagi Cosmeceuticals LLC
- Pfizer Inc.
- Galderma S.A.
- Merz GmbH & Co. KGaA