by 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 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The pigmentation disorders treatment market comprises products that help cure abnormal pigmentation of the skin. Common pigmentation disorders include melasma, vitiligo, and post-inflammatory hyperpigmentation. Treatment options include topical medications such as hydroquinone, corticosteroids, retinoids, and laser therapies. Hydroquinone remains the gold standard treatment for hyperpigmentation, however, its side effects and safety issues are prompting researchers to develop alternative therapies. Effective pigmentation disorder treatments not only improve the appearance of skin but also boost self-confidence and quality of life.
Market key trends:
One of the key trends in the pigmentation disorders treatment market is rising focus on developing combination therapies. Monotherapy regimens often show limited efficacy in vitiligo and other disorders. Researchers are investigating potential of combining corticosteroids with vitamin D or retinoids to boost treatment outcomes. Another notable trend is growing popularity of microneedling. When combined with topical medications or lasers, microneedling helps enhance pigmentation by improving drug penetration and skin activation. It stimulates collagen production for an even skin tone. Advancements in laser and light-based devices is another area attracting investments. Targeted technologies help treat pigmentation more effectively with minimal side effects.
Porter’s Analysis
Threat of new entrants: Low barriers to entry due to availability of inexpensive generic drugs. However, high R&D costs and regulatory requirements pose challenges for new entrants.
Bargaining power of buyers: Large number of buyers and suppliers offering substitutes exert pressure on pricing. Buyers prefer low-priced generic over expensive patented drugs.
Bargaining power of suppliers: Few large suppliers control majority of market share. Suppliers differentiate products and focus on patented drugs to maintain competitive advantage.
Threat of new substitutes: High availability of generic equivalents poses threats for patented drugs. Alternate options like laser treatment and microneedling provide competition.
Competitive rivalry: Intense competition exists between large pharmaceutical companies. Players rely on continuous innovation, strategic partnerships and large sales force to gain market share.
Key Takeaways
The Global Pigmentation Disorders Treatment Market Size is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing consumer awareness about adverse impact of pigmentation and availability of innovative therapeutic options.
Regional analysis: North America dominates global market due to advanced healthcare facilities and higher adoption of new technologies. Asia Pacific exhibits fastest growth driven by large patient population, rising medical tourism and improving healthcare penetration in countries such as China and India.
Key players operating in the pigmentation disorders treatment market are Abbvie Inc. (Allergan Inc.), Episciences Inc., L’ORÉAL SA (SkinCeuticals International), and Pfizer Inc., among others. Key players focus on strategic acquisitions and licensing agreements to strengthen their product portfolio and geographical presence. Large pharmaceutical companies invest heavily in R&D to develop innovative drugs for pigmentation disorders.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
