Vitiligo treatment encompasses a range of medical strategies aimed at managing vitiligo, a condition characterized by the loss of skin color in patches. This condition results from the destruction or malfunction of melanocytes, cells responsible for producing melanin, the pigment that gives skin its color.
The vitiligo treatment market consists of revenues earned by entities (organizations, sole traders and partnerships) that manufacture, distribute and sell medications and provide services designed to treat vitiligo.
The global vitiligo treatment market was valued at $1,237.2 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.0%.
Increased Awareness Of Vitiligo
The increased awareness of vitiligo contributed to the growth of the vitiligo treatment market during the historic period. Increased awareness of vitiligo has resulted in increased recognition of its indications and symptoms by healthcare professionals and the general public. As a result, more vitiligo patients have been found and diagnosed at an earlier stage of the disease. Early detection enables timely treatment, which helps to manage vitiligo progression and enhanced treatment success. For instance, in May 2020, according to a survey conducted among 368 subjects by Hindawi, an Egypt-based peer-reviewed, open-access scientific journal publishing company, people over the age of 30 and under the age of 50 had higher vitiligo-related knowledge scores, and 43.3% of individuals expressed positive attitudes toward vitiligo. Therefore, increased awareness of vitiligo drove the demand for vitiligo treatment during the historic period.
The vitiligo treatment market benefited from strong economic growth in developing countries during the historic period. The economic growth of developing countries led to growth in healthcare infrastructure and a rise in healthcare spending, supporting the demand for vitiligo treatment. For instance, China's GDP grew from $12.84 trillion in 2017, to $17.94 trillion in 2022.
Introduction Of Self-Designed Kits For Preventive Vitiligo Treatment
Companies in the vitiligo treatment market are introducing self-designed kits for preventive vitiligo therapy as a proactive method for treating the condition and reducing its impact on people's lives. These kits contain a comprehensive range of tools, treatments and materials, designed to prevent the beginning or progression of vitiligo and promote skin health. For instance, in September 2021, Vedas Cure, an India-based online Ayurveda treatment center, introduced a customized range of self-designed kits, comprising of Vitiligo Derma Care, Psoralea oil and a tablet for patients suffering from early Vitiligo symptoms, such as white spots on the skin. The Vedas Cure package includes vitiligo medications such as Kaishor Guggulu, Derma Care Powder and Psoralea oil, commonly known as Babchi oil. Psoralea oil, applied locally, is useful for curing vitiligo. It spreads skin color equally on white patches, minimizing the concentration of white elements in a particular location.
The global vitiligo treatment market is fairly fragmented, with a large number of players operating in the market. The top five competitors in the market made up to 17.1% of the total market in 2022.
Vitiligo Treatment Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global vitiligo treatment market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for vitiligo treatment? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The vitiligo treatment market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider vitiligo treatment market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions, and explanations about the segment by drugs type, by disease type, by treatment, by distribution channel and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the vitiligo treatment market.
- Global Market Size and Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by drugs type, by disease type, by treatment, by distribution channel and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth-Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard-Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for vitiligo treatment providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Drugs Type: Corticosteroids; Calcineurin Inhibitors; Other Drug Options
- 2) By Disease Type: Nonsegmental Vitiligo; Segmental Vitiligo
- 3) By End-User: Hospitals; Homecare; Specialty Clinics; Other End-Users
- 4) By Treatment: Medication; Therapies; Other Treatment Options
- 5) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
- Companies Mentioned: Incyte Corporation; Dr. Reddy's Laboratories Ltd; Glenmark Pharmaceuticals Ltd; Strides Pharma Science Limited; Issar Pharmaceuticals Pvt
- Countries: Australia; China; India; Indonesia; Japan; South Korea; Brazil; Russia; USA; Canada; France, Germany; UK; Italy; Spain.
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; vitiligo treatment indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.