The size of the global pigmentation disorder treatment market is expected to attain a value of USD 8.90 billion by 2028, growing at a 5.75% CAGR during the forecast period from USD 6.01 billion in 2021.
The size of the global pigmentation disorder treatment market is expected to attain a value of USD 8.90 billion by 2028, growing at a 5.75% CAGR during the forecast period from USD 6.01 billion in 2021. This report discusses market research on the pigmentation disorder treatment market, its market growth factors, and its challenges. The report also talks about the opportunities available to stakeholders, researchers, and potential investors for the pigmentation disorder treatment market, discussing the recent changes due to the pandemic.
Pigmentation is a skin condition caused by high quantities of melanin, a pigment produced by melanocytes. The amino acid tyrosine is oxidized, resulting in the formation of melanin. Melanin is carried by keratinocytes and, while it is innocuous, it dulls the skin. It mostly affects the face, although it could also impact various regions of the body. Whenever melanocytes are harmed, the body's melanin synthesis varies. The skin blackens or lightens as a result of this condition. The formation of melanin causes the skin to darken, while reduced synthesis of melanin causes the skin to lighten.
The COVID-19 has had an influence on the market for pigmentation problem treatments. As per a poll done by Hamilton Fraser Cosmetic Insurance in the UK in 2020 to analyze the effect of the epidemic, 99.78 percent of doctors believed the epidemic has impacted their profession. During the COVID-19 crisis, people must be categorized to avoid needless admissions due to mild trauma and other diseases. Also there is a necessity to avoid sending patients to the hospital for routine check-ups, non-essential treatments, and minor concerns as much as feasible. Because most cosmetic operations are considered non-essential, the global market has been severely impacted.
Pigmentation Disorder Treatment Market: Growth Drivers
Increase in skin pigmentation disorders to drive the market growth
Dark-skinned individuals have a high frequency of pigmentary diseases. Pigmentary dermatomes are also the second and fifth most frequent dermatomes among Blacks and Hispanics, correspondingly. Increased sun exposure, rise in global warming, and the increased incidence of harmful sun rays due to environmental degradation are contributing factors to rise in pigmentary disorders. As a result, the global pigmentation disorder treatment market is predicted to grow due to the increased frequency of pigmentation disorders.
Pigmentation Disorder Treatment Market: Restraints
Lack of reimbursement policies for pigmentation treatment to affect the market negatively
In general case, insurance, or reimbursement is provided for medical expenses and treatments. But in the case of pigmentation disorders and its treatments, it is not covered under any policy. Only individuals from the higher economic segment of the society can afford such procedures, without any support of insurance. As a result, this causes a restraint for the growth of global pigmentation disorder treatment market.
Pigmentation Disorder Treatment Market: Opportunities
Improvements in tissue engineering to open avenues for new procedures
Developments such as artificial skin drafts and engineered skin have evolved in the market. This not only helps in pigmentation disorders but also helps in wound healing. These skins are made out of artificial and natural materials, such as xenogenic, synthetic, allograft or autologous sources. This opens up new avenues for pigmentation treatments, given more research is conducted. This provides new opportunities for the global market.
Pigmentation Disorder Treatment Market: Challenges
High cost of cosmetic treatments poses a challenge for the market
Though tremendous development in the pigmentation treatment market boosted the market opportunities, the cost of these procedures are expensive. The only affordable treatment for the masses is OTC or tropical medications. But the efficiency of these treatments is very less in comparison to other alternatives. High prices pose a threat to the global pigmentation disorder treatment market growth.
Pigmentation Disorder Treatment Market: Segmentation Analysis
The market is divided on the basis of treatment, end-user, and region. By treatment, the market is segregated into chemical peels, microdermabrasion, topical drugs, phototherapy, laser therapy, skin grafting, drugs, & others. Due to the better clinical studies in individuals with pigmentation disorders, the topical therapy category dominates the overall market. Azelaic acid, L-ascorbic acid, hydroquinone, and other topical medicines are the most commonly recommended worldwide. Topical therapy involves administering lotions, serums, creams, and ointments to the skin, which are prepared with various active components to treat specific pigmentation problems.
The market, by end user, is classified as dermatology centers, hospitals, & aesthetic clinics. In the end user segment, inclination towards aesthetic procedures is expected to increase the market of aesthetic or cosmetic institutions. On the other hand, due to affordability, people are also expected to opt for OTC medications for home treatments.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Pigmentation Disorder Treatment Market: Regional Landscape
North America to lead the global market during the forecast period
Because of the increased prevalence of pigmentation issues, North America leads the global pigmentation disorder treatment market. In North America, there are well established medical structure and large market companies that provide efficient treatment choices for individuals with post-inflammatory hyperpigmentation.
Given the cultural preference for spotless and clear skin, Asian countries such as South Korea, China, Japan, and others, have an established market for pigmentation disorder treatment. Though given the prominence of several existing companies, the competition is tough in these regions.
Pigmentation Disorder Treatment Market: Competitive Landscape
Some well-known companies in the industry are Episciences, Inc., Bayer AG, La Roche-Posay, Alvogen, Inc., Obagi Medical Products Inc., Allergan, Inc., Pierre Fabre Laboratories, & SkinCeuticals International.
By End User
The increase of pigmentation disorders due to environmental degradation, global warming and increased sun exposure along with developments in tissue engineering will be responsible for the increase in market growth of pigmentation disorder treatment.
According to Zion Market Research, The size of the global pigmentation disorder treatment market is expected to attain a value of USD 8.90 billion by 2028, growing at a rate of growth at the rate of 5.75% CAGR during the forecast period from USD 6.01 billion in 2021.
As per Zion Market Research, North America to lead the global pigmentation disorder treatment market followed by Asia Pacific. In North America, there are well established medical structure and large market companies that provide efficient treatment choices for individuals with post-inflammatory hyperpigmentation.
Insights from Zion Market Research some well-known companies in the industry are Episciences, Inc., Bayer AG, La Roche-Posay, Alvogen, Inc., Obagi Medical Products Inc., Allergan, Inc., Pierre Fabre Laboratories, & SkinCeuticals International.