According to MRFR analysis, Vitiligo Treatment Market is expected to register a CAGR of 5.6% during the forecast period was valued at USD 1.22 Billion in 2018.
Vitiligo is a skin disorder that causes white patches to appear on the skin. These patches occur because the melanocytes are destroyed, leaving areas of skin with no pigment at all. It can affect any skin part of the body.
The growth of the global vitiligo treatment market is driven by various factors such as emerging therapies for skin disorders, increasing healthcare expenditure, lifestyle changes. However, the lack of skilled professionals is expected to curb the growth of the global vitiligo treatment market.
Several market players currently dominate the global vitiligo treatment market. The key players are involved in product launches and strategic collaborations to strengthen their market positions. For instance, Incyte Corporation reported positive results from the study of ruxolitinib cream which is in phase 2. This topical cream is suggested for vitiligo treatment.
Segmentation
The global vitiligo treatment market has been segmented based on type, treatment type, and end-user.
The market, based on type, has been divided into non-segmental and segmental. On the basis of treatment type, the market has been segmented into therapy, surgery, medication, and others. The therapy is further segmented into depigmentation and light therapy for vitiligo. The surgery is segmented into skin grafting, blister grafting, and micro-pigmentation. The medication is segmented into topical corticosteroids and immunosuppressive drugs.
The end-user segments of the market consist of hospitals, aesthetic clinics, and others. The hospitals and clinics segment is expected to hold the largest share of the market as these centers are the primary locations for patients receiving treatment and surgery.
Key Players
Some of the Key Players in the Global Vitiligo Treatment Market are Bausch Health Companies Inc. (Laval, Quebec), STRATA Skin Sciences (Horsham, PA), Reddy’s Laboratories Ltd. (India), Allergan, Inc. (Dublin, Coolock), Clinuvel Pharmaceuticals Limited (Melbourne, Victoria), Astellas Pharma Inc. (Northbrook, IL), Novartis AG (Basel, Basel-Stadt), Eli Lilly Company (Indianapolis, Indiana), Incyte Corporation (Wilmington, Delaware), AstraZeneca AB (Cambridge, Cambridgeshire), Epizyme, Inc. (Cambridge, MA), Pfizer Inc. (New York),and Baxter International Inc. (Deerfield, Illinois)
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is expected to be the largest market owing to the significant investments by healthcare and medical regulatory bodies in vitiligo treatment to deliver quick medical aid to patients. The vitiligo treatment market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European vitiligo treatment market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The vitiligo treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing number of patients with vitiligo and increasing mergers & acquisitions among the market players are boosting the Asia-Pacific region. The vitiligo treatment market in the Middle East & Africa has been divided into the Middle East and Africa.
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