Global Vitiligo Treatment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vitiligo Treatment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Vitiligo is a pigmentation disorder in which the skin's pigment-making cells known as melanocytes are lost or destroyed. As a result of which, well-defined white patches appear on the skin. Patches may occur on one section or all over the body and later may join together. By treatment type, the vitiligo treatment can be segmented into topical treatment and light therapy.

Market Overview:


The latest research study on the global Vitiligo Treatment market finds that the global Vitiligo Treatment market reached a value of USD 1529.97 million in 2022. It’s expected that the market will achieve USD 2832.16 million by 2028, exhibiting a CAGR of 10.81% during the forecast period.

The psychological burden associated with Vitiligo and Growing importance of aesthetic appeal

Vitiligo is a skin disease that is relatively difficult to cure. The common symptoms of vitiligo include the whitening of the skin and the development of white patches on the skin anywhere on the body. It does not have any harmful health consequences; however, the affected people may feel stressed and have issues with their appearance. It does not affect physical health however, can limit social activities and have a negative impact on the quality of life, especially for people with dark skin. This is because darker-skinned individuals who suffer from vitiligo are demanding treatment that would help the condition become less noticeable to them.

Vitiligo patients are prone to suffer from anxiety, depression, low self-esteem, poor quality of life, and loneliness. This can be attributed to the emotional and mental associations an individual has with his/her appearance. These psychological effects are also indirectly fueled by the increasing usage of social media and photo-editing apps, especially at a time when aesthetic appeal plays a significant role in people's connection. While the vitiligo treatment helps a lot to relieve this burden, which promises to promote market to grow.

Lack of awareness among the patient population regarding vitiligo treatment

Vitiligo is a typical chronic disease. Although it has severely affected the external image of the patient, its symptoms are not painful or itchy, life-threatening, and not contagious. Therefore, many patients ignore it and do not get treatment. In particular, there are many elderly people who, after suffering from vitiligo, will not pay attention to it and will not be treated in time.

Therefore, lack of awareness among the patient population regarding vitiligo treatment in some emerging countries is one of the factors limiting the growth of the global market.

Region Overview:


In global comparison, a significant portion of the revenue was generated in Asia Pacific (41.36% in 2021).

Company Overview:


Bristol-Myers Squibb is one of the major players operating in the Vitiligo Treatment market, holding a share of 70.54% in 2021.

Bristol-Myers Squibb

Bristol-Myers Squib Company is a global biopharmaceutical company. The Company develops, licenses, manufactures, markets, and sells pharmaceutical and nutritional products. Bristol Myers Squibb focuses on products and experimental therapies that address cancer, heart disease, HIV and AIDS, diabetes, rheumatoid arthritis, hepatitis, organ transplant rejection, and psychiatric disorders.

Leo Pharma

LEO Pharma A/S develops, manufactures, and markets pharmaceutical products. The Company provides dermatology and critical care products for the treatment of psoriasis, atopic dermatitis, eczema, skin infections, actinic keratosis, acne, non-melanoma skin cancer, and thrombosis.

Segmentation Overview:


As for product types, the Topical Treatment segment held the largest market share in 2021.

Application Overview:


The market's largest segment by application is the segment Hospitals, with a market share of 73.79% in 2021.

Key Companies in the global Vitiligo Treatment market covered in Chapter 3:

STRATA Skin Sciences
Dr. Reddy's Laboratories
Daavlin Phototherapy
Sesderma
Leo Pharma
Bausch Health
Accord Healthcare
Bristol-Myers Squibb

In Chapter 4 and Chapter 14.2, on the basis of types, the Vitiligo Treatment market from 2018 to 2029 is primarily split into:

Topical Treatment
Light Therapy

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vitiligo Treatment market from 2018 to 2029 covers:

Hospitals
Aesthetic Clinics
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)