Complexities and Innovations in Skin Pigmentation Therapy
The global vitiligo treatment market is expected to experience significant growth in the coming years. According to a report titled “Vitiligo Treatment Global Market Report 2023,” the market is projected to grow from $1.40 billion in 2022 to $1.49 billion in 2023, with a compound annual growth rate (CAGR) of 6.6%. By 2027, the market is expected to reach $1.88 billion at a CAGR of 6%.
The report provides insights into the market’s characteristics, size, and growth, as well as segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies. It also traces the historic and forecasted market growth by geography.
Vitiligo is a chronic autoimmune condition that causes pigmentation or color loss in certain areas of the skin. Vitiligo treatments help halt and reverse the progression of the condition. The main types of vitiligo treatment drugs include antihistamines, H2 antagonists, tricyclic antidepressants, and others. These treatments can be administered through various modes, such as injectable, oral, and others, and are sold through different distribution channels, including hospital pharmacies, retail pharmacies, and online pharmacies. They are used by various end-users, including hospitals, homecare, specialty clinics, and others.
The growth of the vitiligo treatment market is expected to be driven by the rise in healthcare expenditure. Increased healthcare expenditure allows for better treatment options for patients with vitiligo. Additionally, effective primary healthcare integration with public health initiatives promotes population health. For example, the annual increase in national health spending in the United States is predicted to average 5.1% between 2021 and 2030, reaching approximately $6.8 trillion by 2030.
Product innovation is another key trend in the vitiligo treatment market. Companies in the market are focused on introducing new products to sustain their position. In July 2022, Incyte Corporation announced the FDA authorization of OpzeluraTM (ruxolitinib) cream 1.5% for the topical treatment of non-segmental vitiligo. Opzelura showed a consistent 75% improvement from baseline in the face Vitiligo Area Scoring Index (F-VASI75) in patients who received the treatment.
In October 2022, Incyte Corp. acquired Villaris Therapeutics Inc., a biopharmaceutical firm developing novel treatments for vitiligo patients. This acquisition further expanded Incyte’s portfolio and improved treatment choices for vitiligo sufferers.
North America was the largest region in the vitiligo treatment market in 2022, while Asia-Pacific is expected to be the fastest-growing region in the forecast period. The report covers various regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Key players in the vitiligo treatment market include Clinuvel pharmaceuticals ltd., Dr. Reddy’s Laboratories Ltd., Pfizer Inc., Incyte Corporation, STRATA Skin Sciences, Astellas Pharma Inc., Bausch Health Companies Inc., Arcutis Biotherapeutics, Strides Pharma Science Limited, Mylan N.V., Glenmark Pharmaceuticals Ltd., Clarify Medical Inc, Novartis AG, LEO Pharma A/S, and Dermfix Ltd.
In summary, the vitiligo treatment market is expected to grow significantly in the coming years, driven by factors such as increased healthcare expenditure and product innovations. The market offers opportunities for pharmaceutical companies to develop new treatments and expand their portfolios to cater to the needs of vitiligo patients worldwide.