Market Analysis: Global Vitiligo Treatment Market
Vitiligo treatment market is expected to grow at a healthy CAGR in the forecast period of 2019-2026. Growing incidence ocular surface injuries as it can contribute to the neurotrophic keratitis and development of advanced therapies and treatment are the key factors for market growth
Market Definition: Global Vitiligo Treatment Market
Vitiligo is lifelong dermatology disorders characterized by depigmentation of the skin cause by the death or malfunctioning of the skin's pigment-making cells called melanocytes. As a result well-defined white patches appear on the skin. It tends to continue over time, causing larger areas of skin to lose pigment. It does not affect the physical health however, can limit social activities and have a negative impact on the quality of life.
According to the statistics published by U.S. Department of Health & Human Services, it is estimated about 0.5 to 1% of the population worldwide is suffering from vitiligo. High demand of novel treatment and huge investment on research and development are drivers for market growth.
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Growing prevalence of urticaria worldwide is drive the market
Huge financial support to the researchers for developing novel intervention is boosting the market growth
High demand of disease specific novel treatment can also act as a market driver
Advancement in treatment and incorporation of novel formulation can improve the ease the pain of cold sores is also act as factors that drive the market
Patent expiry of branded drugs and introduction of generics is also acting as a challenging factor for the growth of this market
Low healthcare budget in some developing countries is hamper the market growth
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Segmentation: Global Vitiligo Treatment Market
By Treatment Type
By Route of Administration
By End Users
By Distribution Channel
Rest of South America
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa
Key Developments in the Market:
In September 2019, Aclaris Therapeutics, Inc is developing novel drug ATI-502, JAK1/JAK3 Inhibitor for the treatment of alopecia areata, vitiligo and atomic dermatitis. If trial successful, it will improve the treatment landscape for miilion of patients suffering from vitiligo.
In January 2017, Clarify Medical, Inc received an approval from the FDA for the Clarify Medical Phototherapy System, a home-based light therapy device for the treatment of chronic skin diseases such as psoriasis, vitiligo and eczema. The approval of this devices provides a novel treatment option and major advances that offer complete heal of this condition.
Global Vitiligo treatment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Global Vitiligo treatment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Players:
Few of the major competitors currently working in the Global Vitiligo treatment market are CLINUVEL PHARMACEUTICALS LTD, Clarify Medical, Inc, Incyte Corporation, Dr. Reddy’s Laboratories Ltd, Glenmark Pharmaceuticals Ltd, Teva Pharmaceutical Industries Ltd, Bausch Health, Novartis AG, Mylan N.V., Pfizer Inc, Strides Pharma Science Limited, Panacea Biotec Ltd, Belcher Pharmaceuticals, LCC, LEO Pharma A/S, Astellas Pharma Inc, and others.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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