Market Research Future (MRFR) has published a cooked research report on the “Global Vitiligo Treatment Market” that contains information from 2018 to 2030.
The global vitiligo treatment market is expected to have a market value of USD 2.26 billion by 2030 at 6.20% CAGR over the forecast period 2022-2030.
Vitiligo is a prolonged condition in which areas of skin lose pigment or color. This occurs when melanocytes are attacked and destroyed, leading to milky-white skin. Vitiligo impacts between 0.2% and 1% of the world's population and can affect any part of the human body were skin lacks color due to loss of melanin. A vitiligo gene, sunburns, and exposure to particular chemical and mechanical traumas all raise a person's risk of developing the condition. Vitiligo is frequently more prone to develop in people with autoimmune illnesses like alopecia areata or Hashimoto's. The rising number of clinical trials is expected to create lucrative growth opportunities for players operating in the global vitiligo treatment market. However, a lack of trained professionals, on the other hand, is projected to hinder industry growth and is anticipated to hamper market growth.
The global vitiligo treatment market is segmented into type, treatment type, end user, and region. The by type segment is further segmented into segmental vitiligo and non-segmental vitiligo. The treatment type segment is segmented into (therapy, [depigmentation, light], surgery [skin grafting, blister grafting, and micro-pigmentation], and medication, [topical corticosteroids, immunosuppressive]). The end user segment is further segmented into hospitals, ambulatory, clinics others.
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MRFR recognizes the following companies as the key players in the global Vitiligo Treatment Market— Incyte (US), Koninklijke Philips N.V. (Netherlands), Bausch Health Companies Inc. (Canada), Dr. Reddy's Laboratories Ltd. (India), STRATA Skin Sciences(US), Clinuvel Pharmaceuticals Ltd (Australia), Roivant Sciences Ltd. (Switzerland), ISSAR Pharmaceuticals Pvt. Ltd.(India), Kernel Medical Equipment Co., LTD. (China), and LightSource (US).
The global vitiligo treatment market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World.
North America dominated the global market of vitiligo treatment in 2021. this is due to the growing importance of aesthetic appeal with technological advancements in the treatment methods in the emerging region, and the presence of a large number of market players in the region. Moreover, continuous progress in new treatments using advanced technology has improved the demand for treatment methods thereby boosting the demand for vitiligo treatment in North America.
The vitiligo treatment market in Europe is being driven by increasing prevalence and subsequent increase in the prevalence of vitiligo treatment, advancements in medical technology, a growing aged population, and rising demand for treatment methods. Moreover, the rise in the number of initiatives for product approvals, and mergers regarding depression screening is boosting the market growth.
Asia-Pacific is expected to exhibit the highest CAGR during the forecast period of 2022-2030. This is due to the growing vitiligo patient pools in the region. For instance, in October 2021, Uniza Group (India) launched a novel solution named Vitellus for the management of vitiligo. Vitellus is a combination of Greyverse, Melitane GL 200 & EUK-134, which is also considered a new-age solution for managing vitiligo. Hence, with the growing awareness amongst individuals in the nation is likely to have vital growth opportunities in the forthcoming years.
The Rest of the World (ROW) accounted for the lowest market share in the vitiligo treatment market. due to a lack of proper healthcare infrastructure and low disposable income. Furthermore, the rise in the number of patients, steadily increasing per capita disposable income, initiatives undertaken by various public and private organizations to provide improved access to treatment, and increasing awareness is anticipated to drive market growth in the coming years.
Key Findings of the Study