Pigmentation Disorders Treatment - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Pigmentation Disorders Treatment Market size is estimated at USD 7.40 billion in 2024, and is expected to reach USD 9.65 billion by 2029, growing at a CAGR of 5.43% during the forecast period (2024-2029).

COVID-19 had a profound impact on the pigmentation disorders treatment market. According to the Aesthetic Society 2021 report, aesthetic plastic surgery remained popular despite the COVID-19 pandemic. Some countries faced a decline in pigmentation disorders treatment due to the cancellations of non-essential procedures in the country. With the pandemic restrictions lifted, most surgeons are noticing more people seeking cosmetic treatment. With rising strategic initiatives, such as product innovation, launches, and approvals by key players for various pigmentation disorders treatments, the market is expected to regain its traction and witness a stable growth rate over the upcoming years.

The growth of the pigmentation disorders treatment market is attributed to factors such as the increasing prevalence of pigmentation disorders and the growing expenditure on dermatological treatments.

Some examples of common pigmentation disorders include post-inflammatory hyperpigmentation, melasma, solar lentigines, ephelides (freckles), vitiligo, and cafe au lait macules. Skin biopsy, skin inspection, and a proper dermatologic history can aid in ruling out the 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 address the underlying illness. For instance, according to a research article published in Karger Journal in 2021, it was 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 most common dermatoses in Blacks and Hispanics. Thus, the high prevalence of pigmentation disorders is expected to create opportunities for market growth in the region where the majority is high to avail treatment options for people, which will further augment the market growth during the forecast period.

Furthermore, increasing company initiatives, such as rising product launches, approvals, and partnerships, drive market growth. For instance, in October 2021, Ahmedabad-based pharma company Uniza Healthcare launched a lotion, Vitellus, to manage Vitiligo in the Indian market. The lotion combines Greyverse, Melitane GL 200, and EUK-134 in collaboration with a Canadian company Lucas Meyer Cosmetics, along with Indian company Amvigor Organics. The partnership among different key players to launch various products indicated for pigmentation disorders is expected to expand the available treatment options for the affected individuals, increase product availability, and thereby propel market growth.

Thus, the market studied is expected to witness significant growth over the forecast period owing to the factors such as the rising prevalence of pigmentation disorders and strategic initiatives undertaken by key players. However, the high cost of cosmetic procedures and inadequate reimbursement policies are expected to hamper the market's growth over the forecast period.

Pigmentation Disorders Treatment Market Trends

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 Potosi. 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.

Pigmentation Disorders Treatment Industry Overview

The pigmentation disorders treatment market is fragmented and competitive. The major players focus 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.), Epionce, DermaMed Solutions LLC, L'Oreal SA, Pierre Fabre Group (Pierre Fabre Laboratories), Vital Esthetique, Obagi Cosmeceuticals LLC, Pfizer Inc., Galderma SA, Merz GmbH & Co. KGaA, Candela Corporation, and SkinCeuticals.

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