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Pigmentation Disorders Treatment Market Size, Share, Growth, Trends And Forecast 2024-2033
Pigmentation Disorders Treatment Market
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According to The Business Research Company's, The pigmentation disorders treatment market size has grown strongly in recent years. It will grow from $5.63 billion in 2023 to $6.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to topical treatments development, dermatological advancements, sunscreen and sun protection, chemical exfoliation methods, consumer awareness and education.
The pigmentation disorders treatment market size is expected to see strong growth in the next few years. It will grow to $8.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to enhanced delivery systems, microbiome-based therapies, regenerative medicine adoption, rise in telemedicine services, gene therapy and biologics. Major trends in the forecast period include skin health education programs, bio-inspired skincare solutions, non-invasive treatment modalities, neurocosmetics and psychodermatology, legal regulations and safety standards.
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Market Drivers and Trends:
The increasing prevalence of pigmentation disorders is expected to propel the growth of the pigmentation disorder treatment market going forward. Pigmentation disorders refer to conditions characterized by the abnormal or uneven coloring of the skin, hair, or eyes, which can be caused by various factors such as genetics, hormonal changes, sun exposure, or underlying medical conditions. Treatment for pigmentation disorders involves multiple approaches, such as topical medications, laser therapy, chemical peels, and microdermabrasion, aimed at reducing or lightening dark spots, patches, or irregular skin pigmentation caused by conditions such as albinism, melasma, vitiligo, or hyperpigmentation. For instance, in June 2021, according to a report published by the Office of the United Nations High Commissioner for Human Rights (OHCHR), a Switzerland-based United Nations body dedicated to safeguarding and promoting human rights globally, the prevalence of albinism (an inherited condition that leads to someone having very light skin, hair, and eyes) was estimated to range between 1 person in 17,000 and 1 person in 20,000 in Europe and North America. In addition, higher prevalence rates were reported in specific regions, such as the Netherlands (1 in 12,000) and Northern Ireland (1 in 4,500-6,600). Therefore, the increasing prevalence of pigmentation disorders is driving the growth of the pigmentation disorders treatment market.
Technological advancements are a key trend gaining popularity in the pigmentation disorder treatment market. Major companies operating in the pigmentation disorders treatment market are focused on developing innovative products through advanced technologies to strengthen their position and gain a competitive advantage. For instance, in March 2022, Scientis SA, a Switzerland -based company specializing in skincare, launched Cyspera Intensive System, a comprehensive three-product solution designed to address and enhance hyperpigmentation. This system incorporates dual chamber technology and features key ingredients such as Cysteamine Isobionic-Amid Complex, AHA-Amino Acid Complex, and Isobionic-Amide Complex. These components work together to deliver potent antioxidant activity, balance the skin's pH, and provide anti-inflammatory benefits, effectively improving the appearance of persistent brown patches and dark spots.
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Major Key Players of the Market:
AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb, L'Oréal S.A., Astellas Pharma Inc., Bausch Health Companies Inc., Bayer AG, Strides Pharma Science Limited, Galderma S.A., Incyte Corporation, Panacea Biotec Ltd., Dr. Reddy's Laboratories Ltd., Laboratories Pierre Fabre, Glenmark Pharmaceuticals Limited., Dermavant Sciences Inc., Lumenis Be Ltd., Accord Healthcare, Obagi Medical Products Inc., Fotona d.o.o., Sesderma SL, DermaMed Solutions LLC., Vital Esthetique, Vivier Pharma, Arcutis Biotherapeutics, Episciences Inc., Phio Pharmaceuticals Inc., Scientis SA, Philadelphia Pharmaceutical
Pigmentation Disorders Treatment Market 2024 Key Insights:
• The pigmentation disorders treatment market size is expected to see strong growth in the next few years. It will grow to $8.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Increasing Prevalence Of Pigmentation Disorders Drives Growth Of Treatment Market
• Innovative Technologies Transform Pigmentation Disorder Treatment Market
• North America was the largest region in the pigmentation disorders treatment market in 2023
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