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Global Vitiligo Treatment Market to Exhibit a CAGR of 5.8% and Touch USD 1,944.5 Million by 2026; Rise in the Research and Development Activities to…

Posted: October 8, 2020 at 4:56 pm


Pune, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Global vitiligo treatment market is likely to gain impetus from an ever rising demand for innovative and modern treatment options for vitiligo. According to Fortune Business Insights, titled, Vitiligo Treatment: Global Market Analysis, Insights and Forecast, 2019-2026, the global vitiligo treatment market was valued at US$ 1,243.8 Mn in 2018. The market is projected to reach US$ 1,944.5 Mn by 2026, exhibiting a CAGR of 5.8% in the forecast period.

In terms of treatment, the global vitiligo treatment market is grouped into topical treatment, surgical procedures, light therapy, and others. Amongst these, the topical treatment segment had held majority of the vitiligo treatment market share. This is because of the increasing patient pool, need for numerous treatment methods for vitiligo, and an increasing number of research and development activities. However, lack of awareness regarding the available vitiligo treatment and reduction in the diagnosis rate may hamper the vitiligo treatment market growth.

Key Industry Developments:

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Increasing Number of Vitiligo Patients to Favor Growth in Asia Pacific

The global vitiligo treatment market is geographically divided into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. Amongst these, in Asia Pacific, India, China, and the other Southeast Asian countries have been witnessing huge patient pools of vitiligo. This has further resulted in an urgent requirement for effective treatment options available of vitiligo.

The markets of Latin America and the Middle East and Africa, on the other hand are expected witness notable grow in the near future. This is because darker skinned individuals who suffer from vitiligo are demanding for modern methods of treatment that would help the condition become less noticeable on them.

In North America, the vitiligo treatment market was valued at US$ 314.1 Mn in 2018. This is because of a rise in the research and development activities and an increasing adoption of vitiligo treatment. Numerous healthcare providers in the U.S., are also implementing advanced technologies in the treatment of vitiligo.

The global economy is in absolute turmoil because of the COVID-19 pandemic outbreak. Some industries remain largely unaffected by the outbreak, some are thriving, but most are in doldrums. Although the healthcare industry is flourishing, certain markets within the industry are experiencing staggered growth. Wading through these troubled times is a difficult task and Fortune Business Insights aims at equipping your business with the most comprehensive market insights, collated and analyzed by our expert and experienced research team.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Key Players Focus on Effective Medicine Launch to Strengthen Market Position

Incyte Corporation, a pharmaceutical company, based in the U.S., announced the result of its dose-ranging, randomized, vehicle-controlled, and double-blind Phase 2 study evaluating ruxolitinib cream, an anti-inflammatory, nonsteroidal, and JAK inhibitor therapy in patients with vitiligo between the age group of 18 to 75 years of age. The results were out after 24 weeks. The study met its primary goal and treated many patients with the help of ruxolitinib cream for 24 weeks. The results were presented at the 24th World Congress of Dermatology in Italy. The positive result supports the potential of ruxolitinib cream in providing novel treatment for chronic autoimmune disease.

Dr. Reddys Laboratories Ltd., a multinational pharmaceutical company, headquartered in Hyderabad, announced the launch of Melgain in June 2014. Melgain is a lotion that is considered to be the first peptide-based drug for vitiligo. The lotion is effective and very safe to use for the treatment of vitiligo for children and adults.

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List of Vitiligo Treatment Market Players:

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Vitiligo Treatment Market Segmentations:

By Treatment

Topical Treatment

Light Therapy

Surgical Procedures

Others

By Disease Type

Nonsegmental Vitiligo

Segmental Vitiligo

By End User

Hospitals

Aesthetic Clinics

Others

By Geography

North America (the USA and Canada)

Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

Latin America (Brazil, Mexico and Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

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Global Vitiligo Treatment Market to Exhibit a CAGR of 5.8% and Touch USD 1,944.5 Million by 2026; Rise in the Research and Development Activities to...

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