Pigmentation Disorders Treatment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Pigmentation Disorders Treatment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The pigmentation disorders market is expected to register a CAGR of 7.14% over the forecast period of the study (2022-2027).

The COVID-19 pandemic has impacted the pigmentation disorder treatment market. Hamilton Fraser Cosmetic Insurance surveyed approximately 1,360 cosmetic surgeons in United Kingdom in March 2020 to determine the pandemic's effects. The survey found that 99.78% of cosmetic surgeons had their practice affected by the pandemic. During the COVID-19 pandemic, there is a need to triage patients to prevent needless hospitalization due to minor injuries and other ailments. Additionally, it is wise to refrain from bringing patients in for routine check-ups and minor concerns. Although non-urgent clinical and surgical treatments need to be delayed until the situation gets improved, the hospital must however ensure the patients receive high-quality care. As most cosmetic procedures are categorized as non-essential, this impacted the market growth.

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.

Post-inflammatory hyperpigmentation, melasma, solar lentigines, ephelides (freckles), vitiligo, and café au lait macules are a few examples of common pigmentation disorders. Skin biopsy, skin inspection, and a proper dermatologic history can all aid in ruling out melanoma and its antecedents. Pigmentation diseases are treated with topical medicines, chemical peels, cryotherapy, light or laser therapy, or a combination of these techniques to addressing address the underlying illness. For instance, according to a research article published in Karger Journal in 2021 by Naik PP, titled "Skin Pigmentation Disorders", it has been observed that people with dark skin (South/Southeast Asian, Hispanic/Latin American, and African descent) have a high prevalence of pigmentary disorders. In addition, as per the same source, 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 company initiatives and rising product launches are also driving the market growth. For instance, in February 2020, PCA SKIN launches two of its most popular chemical peels. These new launches have been added to its extensive lineup of custom blended peel options. The new trichloroacetic (TCA) peel formulas include PCA SKIN Sensi Peel, for people with sensitive skin, PCA SKIN Ultra Peel which can be used for many other skin types, conditions, and sensitivities, and PCA SKIN MD Peel (CCl3) which is most suitable for resilient skin. 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.

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 entails using creams, lotions, ointments, and serums topically to treat various pigmentation conditions. These products are made with a variety of active components.

The increasing research and development activities and launches by key players are boosting the market. For instance, in July 2022, Ahammune Biosciences collaborated with Veeda Clinical Research Limited for investigating AB1001 as a topical therapy for vitiligo. Similarly, in October 2021, Uniza Healthcare launched a novel treatment called Vitellus, a unique combination of Greyverse, Melitane GL 200, and EUnited Kingdom-134 in a tie-up with a Canadian company for the management of vitiligo in the Indian market. Thus, the rising company activities in product development are expected to increase the demand for the studied segment, which further boosts the market growth.

Additionally, topical administration of corticosteroids is highly recommended for the treatment of pigmentation disorders. Fluticasone propionate, betamethasone valerate, and hydrocortisone butyrate are some of the corticosteroids that are frequently utilized. For instance, according to an article published by Frontiers in Immunology, in November 2021, titled "Janus Kinase Inhibitors in the Treatment of Vitiligo: A Review", JAK inhibitors, including ruxolitinib, baricitinib, and tofacitinib, are found to be effective in the treatment of vitiligo in the patients. Similarly, 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,” it has been observed that the usage of tacrolimus 0.1% ointment twice-daily showed superior efficacy with 65% therapeutic success in 42 tacrolimus-treated patients. Thus, the increasing usage of topical administration for vitiligo treatment is expected to increase the demand for these products, thereby boosting the segment growth.

Furthermore, the increasing geriatric population is more likely to develop certain pigmentation disorders, as aging skin becomes more avascular and making the skin of the elderly more marked by pallor. In addition, every ten years, the amount of melanocytes that produce melanin per unit of skin surface falls by roughly 10% to 20%. Thus, the growing skin problems in older adults are expected to increase the demand for topical treatments, which is expected to fuel the growth of the studied segment over the forecast period.

North America dominates the global pigmentation disorders treatment market owing to the increasing prevalence of pigmentation disorders, the presence of a well-established healthcare infrastructure, and the presence of major market players providing effective treatment options to patients suffering from post-inflammatory hyperpigmentation. For instance, according to an article published by StatPearls, in August 2021, titled "Albinism", it has been observed that the highest prevalence of albinism was found in the American region (1:36,000). In addition, as per the same source, African American has a prevalence rate amounting to 1:10,000 people. Thus, the increasing prevalence of albinism in the country is expected to boost the demand for pigmentation disorder treatments which further boosts the market growth over the forecast period.

In addition, the increasing focus of the companies in the research and development activities 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 United States, 19 vitiligo-related trials were 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 the market growth.

Additionally, the availability of various products by some of the top market competitors, including Obagi Cosmeceuticals, Alvogen, and AbbVie Inc., and increasing adoption of various business strategies such as mergers and acquisitions, and product launches to strengthen their market position are all anticipated to fuel the market expansion. For instance, in February 2020, Eli Lilly acquired Dermira for USD 1.1 billion. This acquisition assists the company to expand its pipeline of immunology, and dermatology medicines, with the addition of lebrikizumab, for the treatment of moderate-to-severe atopic dermatitis in adolescent and adult patients, ages 12 years and older and QBREXZA, for the topical treatment of primary axillary hyperhidrosis, respectively.

Thus, the increasing prevalence of pigmentation disorders, rising research and development activities, and increasing adoption of business strategies by the companies are all expected to fuel the market growth over the forecast period.

The pigmentation disorders treatment market is fragmented and competitive. The major players are focusing on expanding their business in different areas by adopting various market strategies, such as partnerships, collaborations, acquisitions, mergers, etc. Some of the major players in the market include AbbVie Inc. (Allergan Inc.), DermaMed Solutions LLC, L'Oreal SA, Obagi Cosmeceuticals LLC, Merz GmbH & Co. KGaA, Pfizer Inc., and Galderma SA.

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