Press release
Advancements in Vitiligo Treatment for Improved Skin Health
According to The Business Research Company's, The vitiligo treatment market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increased prevalence of vitiligo, advancements in dermatology research, improving patient awareness, diverse treatment modalities, patient-centric approach in healthcare..
The vitiligo treatment market size is expected to see strong growth in the next few years. It will grow to $2 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to innovations in immunomodulatory therapies, increasing research funding, global health initiatives for dermatological conditions, growing acceptance of combination therapies, enhanced dermatology care infrastructure.. Major trends in the forecast period include combination therapies, research and development, patient-centric approaches, global awareness and advocacy, regulatory landscape..
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Market Drivers and Trends:
The rise in healthcare expenditure is expected to propel the growth of the vitiligo treatment market going forward. Healthcare expenditure refers to an expense that covers all costs associated with providing health services, family planning, nutrition, and emergency help with a focus on health. Improved healthcare expenditure will aid in providing better treatment to all patients suffering from vitiligo. Additionally, effective primary healthcare will promote population health through the integration of primary care services with public health. For instance, in March 2022, according to the 2021-2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services, a US-based Department of Health and Human Services department, the annual increase in national health spending was predicted to average 5.1% between 2021 and 2030, reaching approximately $6.8 trillion by 2030. Additionally, throughout the period 2021-2030, Medicare expenditures are expected to expand at a 7.2% annual rate, while Medicaid spending is expected to grow at a 5.6% annual rate. Therefore, the rise in healthcare expenditure is driving the growth of the vitiligo treatment market.
Product innovations are a key trend gaining popularity in the vitiligo treatment market. Companies operating in the vitiligo treatment market are focused on introducing new products to sustain their position in the market. For instance, in July 2022, Incyte Corporation, a US-based pharmaceutical firm, announced that the FDA has authorized OpzeluraTM (ruxolitinib) cream 1.5% for the topical treatment of non-segmental vitiligo in adult and pediatric patients 12 years of age and older. Opzelura is licensed for continued topical application twice daily to afflicted regions of up to 10% of the body surface area in individuals with non-segmental vitiligo. Patients who received Opzelura at Week 24 showed a consistent 75% improvement from baseline in the face Vitiligo Area Scoring Index (F-VASI75).
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Major Key Players of the Market:
Cliniuvel Pharmaceuticals Ltd.; Dr. Reddy's Laboratories Ltd.; Pfizer Inc.; Incyte Corporation; STRATA Skin Sciences; Astellas Pharma Inc.; Bausch Health Companies Inc.; Arcutis Biotherapeutics; Strides Pharma Science Limited; Mylan N.V.; Glenmark Pharmaceuticals Ltd.; Clarify Medical Inc.; Novartis AG; LEO Pharma A/S; Dermfix Ltd; Bristol-Myers Squibb; Dermavant Science Inc.; Merck KGaA; Celgene; Boston Pharmaceuticals; DermTech; Galderma S.A.; Allergan Inc.; Amgen; Koninklijke Philips N.V.; Sun Pharmaceutical Industries Ltd.; Thermo Fisher Scientific Inc.; Vitiligo Research Foundation; Vitiligo Bond Inc.; Vitiligo Society; Vitiligo Clinic and Research Center; Vitiligo Support International
Vitiligo Treatment Market 2024 Key Insights:
• The vitiligo treatment market will grow to $2 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• The Rise In Healthcare Expenditure
• Fda Authorization Of Opzeluratm Cream Marks A Milestone In Innovations For Non-Segmental Vitiligo Treatment
• North America was the largest region in the global vitiligo treatment market in 2023
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Vitiligo Skin Disorder
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Vitiligo skin disorder is a skin condition in which white patches on the skin are formed due to malfunctioning of melanocytes, cells that promote pigmentation. http://www.curevitiligooil.com/Vitiligo-Skin-Disorder.htmlThe start of this disease and the grimness of pigment loss vary from person to person. People who have light skin usually witness the loss of pigment in summers because the contrast between depigmented skin and sunburned skin appears distinctive. On the other…
Vitiligo Symptoms
Vitiligo produces macules which are small areas of different skin color. The skin disorder may also produce patches which are flat, pale or white and can't be felt with fingers. (http://www.curevitiligooil.com/Vitiligo-Symptoms.html). These marks frequently expand to form very large, irregularly-shaped areas with no pigmentation. Typically, these are painless and do not itch. The cause of vitiligo symptoms is not known, but autoimmunity may be a factor. Since it is a…
