Pigmentation disorders mainly involve conditions that results in white patches, spots, or total loss of pigment from the skin, hair and eyes. Pigmentation disorder treatment products aim to reduce or remove the appearance of skin discoloration caused by various conditions such as vitiligo, post-inflammatory hyperpigmentation and melasma. Some of the notable advantages of pigmentation disorder treatment products include re-pigmentation of affected skin areas, restoration of normal skin color and minimized visibility of skin patches.
The global Pigmentation Disorders Treatment Market is estimated to be valued at US$ 6.84 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of vitiligo worldwide is one of the key factors driving the growth of the pigmentation disorders treatment market. Vitiligo is a long-term skin condition characterized by patches of the skin losing their pigmentation. According to the Vitiligo Support International, vitiligo affects approximately 0.5-2% of the worldwide population. Moreover, the incidence of vitiligo is expected to increase with age and it rarely occurs before the age of 10. Early onset of the disease is associated with a more severe condition and a poorer prognosis. Thus, the growing patient pool of vitiligo is prompting increased adoption of pigmentation disorder treatment products for repigmentation of affected skin areas.
Segment Analysis
The global pigmentation disorders treatment market is dominated by the dermatological products segment. This segment accounts for the largest market share due to the availability of a wide range of drugs for treating hyperpigmentation and hypopigmentation disorders. Hyperpigmentation disorders like melisma and post-inflammatory hyperpigmentation are more common than hypopigmentation disorders. Therefore, drugs treating conditions like melasma, freckles, and sun spots have high demand which further drives the growth of the dermatological products segment.
Key Takeaways
The Global Pigmentation Disorders Treatment Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis
North America dominates the global pigmentation disorders treatment market due to increasing prevalence of diseases like melisma and freckles caused by excessive sun exposure in countries like the U.S. Furthermore, rising awareness about treatment of pigmentation disorders also contributes to the growth of the market in the region. Europe holds the second largest market share owing to high disposable income and advanced healthcare facilities for treatment of such skin conditions.
Key players
Key players operating in the pigmentation disorders treatment market are Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, China State Shipbuilding Corporation, Mitsubishi Heavy Industries, Samsung Heavy Industries, Imabari Shipbuilding Co., Ltd., Tsuneishi Group, China Shipbuilding Industry Corporation, General Dynamics Corporation, Fincantieri S.p.A., Meyer Werft GmbH & Co. KG, Navantia, Damen Shipyards Group, STX Offshore & Shipbuilding Co., Ltd., and Kawasaki Heavy Industries.
The global pigmentation disorders treatment market is expected to grow at a high rate over the forecast period. Factors such increasing prevalence of hyperpigmentation and hypopigmentation disorders due to sun exposure and growing awareness regarding treatment options is expected to drive market growth during this period. Additionally, launch of new products targeting specific conditions and increasing research on developing drugs with better efficacy and less side effects will further fuel the market in coming years
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