Market Trends of Pigmentation Disorders Treatment Industry
This section covers the major market trends shaping the Pigmentation Disorders Treatment Market according to our research experts:
Topical Treatment Segment Expected to Hold Significant Market Share
The topical treatment segment is expected to hold a significant market share 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 to investigate AB1001 as a topical therapy for vitiligo. Thus, the partnership among key players aimed to perform clinical trials to develop a topical treatment is expected to boost the segment's growth during the forecast period.
Additionally, topical administration of corticosteroids is highly recommended for treating pigmentation disorders. Fluticasone propionate, betamethasone valerate, and hydrocortisone butyrate are frequently used corticosteroids. According to an article published by Frontiers in Immunology in November 2021, JAK inhibitors, including ruxolitinib, baricitinib, and tofacitinib, were found to be effective in treating vitiligo in the patients. Similarly, according to a February 2021 research article published in the Journal of Investigative Dermatology, 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 topical products, thereby boosting segment growth.
An article published in the International Journal of Molecular Sciences in April 2021 reported that abnormal pigmentation is a common symptom accompanying aging skin. The increasing geriatric population is more likely to develop certain pigmentation disorders as aging skin becomes more avascular and makes 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.
Thus, factors growing burden of pigmentation disorder, ease of application of a topical treatment, and initiatives by the market players are expected to contribute to the segmental growth over the forecast period.
North America Expected to Hold a Significant Market Share
North America is expected to hold a significant share in the pigmentation disorders treatment market owing to the increasing prevalence of pigmentation disorders, a well-established healthcare infrastructure, and considerable market players providing effective treatment options to patients suffering from post-inflammatory hyperpigmentation.
According to an article published by StatPearls in August 2022, it has been observed that the highest prevalence of albinism was found in the American region (1:36,000). In addition, according to the same source, African-Americans have 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, further stimulating 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 November 23, 2022, 41 active vitiligo-related trials are going on in the United States. Also, per the source mentioned above, a clinical trial was conducted in Mexico in August 2021 regarding the treatment of vitiligo. The clinical trial was sponsored by a healthcare institution in Mexico named Universidad Autonoma de San Luis Potosí. The high number of clinical trials conducted in the region, supported by healthcare institutions and critical players, is expected to impact the market studied positively. Since vitiligo is a pervasive skin pigmentation disorder, increasing trials are expected to develop a new treatment, thus aiding market growth.
Furthermore, according to the Aesthetic Plastic Surgery National Databank published in April 2022, 1,390,149 skin treatment procedures, including chemical peels, hydro facials, and others, and 431,485 combination lasers were performed in the United States in 2021. The region's high incidence of cosmetic procedures is estimated to boost market growth.
Thus, the increasing prevalence of pigmentation disorders, rising research and development activities, and increasing adoption of business strategies by companies are all expected to fuel market growth in the region over the forecast period.
