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Hyperpigmentation Disorder Treatment Market Trends, Key Drivers, Opportunities, Leading Players And Forecast To 2033
Hyperpigmentation Disorder Treatment Market Share
According to The Business Research Company's, The hyperpigmentation disorder treatment market size has grown strongly in recent years. It will grow from $5.3 billion in 2023 to $5.69 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to clinical trials and research, advances in chemical peels, cultural shift towards skincare, emphasis on non-invasive options, demand for natural products.
The hyperpigmentation disorder treatment market size is expected to see strong growth in the next few years. It will grow to $7.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to focus on non-invasive treatments, enhanced skincare awareness, telemedicine and virtual consultations, regulatory support and approvals, personalized treatment options. Major trends in the forecast period include innovative topical formulations, advancements in laser technologies, focus on combination therapies, personalized treatment approaches, rising demand for natural products.
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Market Drivers and Trends:
Rise in prevalence of pigmentation disorders is expected to drive the growth of the hyperpigmentation disorders treatment market. Pigmentation disorders encompass a range of conditions that impact the coloration of the skin, hair, and eye iris. These disorders arise due to issues with melanin, the pigment produced by melanocytes that plays a role in determining skin, hair, and eye color. Treatment options for hyperpigmentation disorders vary depending on the underlying cause and severity of the condition. Mild cases can often be managed with over-the-counter topical creams containing ingredients like azelaic acid, cysteamine cream, vitamin C, and hydroquinone, which possess skin-lightening properties. For instance, in March 2023, according to the Centers for disease control (CDC) report, a US-based federal agency of health, the incidence of Candida auris (C. auris) cases increased from 476 in 2019 to 1,471 in 2021 in the US and the number of cases being screened tripled between 2020 and 2021, reaching 4,041 in total. Additionally, in December 2022, according to the National Psoriasis Foundation, a US-based nonprofit organization serving people with psoriasis and psoriatic arthritis, Psoriasis affects 125 million people globally, accounting for 2 to 3 percent of the overall population, where it affects approximately 1.5 percent of African Americans compared to 3.6 percent of Caucasians. Therefore, rise in prevalence of pigmentation disorders is expected to proper the growth of the hyperpigmentation disorders treatment market.
Product innovation is a key trend gaining popularity in the hyperpigmentation disorders treatment market. Major companies operating in the hyperpigmentation disorders treatment market are focused on developing innovative products to strengthen their position and gain competitive advantage. For instance, in October 2021, Uniza Healthcare, an India-based pharmaceutical company launched a novel treatment product named Vitellus. It is a lotion that contains a unique combination of EUK-134, Greyverse, and Melitane GL 200, which helps in the growth of melanin and works on skin pigmentation, hair follicle pigmentation, and acts as a super antioxidant.
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Major Key Players of the Market:
Vivier Pharma; Obagi Cosmeceuticals LLC; RXi Pharmaceuticals Corporation; EpiPharm AG; Laboratories Pierre Fabre; SkinCeuticals; Galderma S.A.; Allergan PLC.; Bayer AG; Lumenis Be Ltd.; Aerolase Corporation; Candela Corporation; Cynosure; PCA Skin; Episciences Inc.; La Roche-Posay; L'Oréal S.A.; Pierre Fabre Laboratories; Alvogen Inc.; Clinuvel Pharmaceuticals Ltd.; Clarify Medical Inc.; Incyte Corporation; Dr. Reddy's Laboratories Ltd.; Glenmark Pharmaceuticals Ltd.; Teva Pharmaceutical Industries; SkinMedica Inc.; Neutrogena Corporation; Paula's Choice Inc.; ZO Skin Health Inc.; Estée Lauder Companies Inc.
Hyperpigmentation Disorder Treatment Market 2024 Key Insights:
• The hyperpigmentation disorder treatment market will grow to $7.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Surge In Pigmentation Disorders Spurs Growth In Hyperpigmentation Disorders Treatment Market
• Uniza Healthcare Launches Vitellus, A Groundbreaking Hyperpigmentation Treatment Lotion
• North America was the largest region in the hyperpigmentation disorders treatment market in 2023
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