PIGMENTATION DISORDERS TREATMENT MARKET ANALYSIS

Pigmentation Disorders Treatment Market Size and Trends

The global pigmentation disorders treatment market is estimated to be valued at USD 7.33 Bn in 2024 and is expected to reach USD 13.53 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031.

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The global pigmentation disorders treatment market is experiencing strong growth due to the rise in prevalence of pigmentation disorders and growing geriatric population across the world. Moreover, rise in demand for safe & effective treatment and increasing awareness among people about pigmentation disorders is expected to boost the growth of the market. However, factors such as high cost associated with treatment and lack of reimbursement policies are expected to hamper growth of the global pigmentation disorders treatment market.

Market Driver – Increasing Prevalence of Pigmentation Disorders

The increasing prevalence of pigmentation disorders such as vitiligo across the globe is expected to augment the growth of the global pigmentation disorders treatment market over the forecast period. For instance, according to an article published in JAMA Network, an open access medical journal published by the American Medical Association, in November 2021, a survey was conducted on people living in the U.S. in 2020, and the study demonstrated that the prevalence of vitiligo in adults was between 0.76% (1.9 million cases in 2020) and 1.11% (2.8 million cases in 2020). Additionally, according to the same source, around 40% of adult vitiligo in the U.S. may be undiagnosed.

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With the increasing usage of social media and digital mediums, awareness about various skin conditions including pigmentation disorders has grown tremendously over the past decade. There is a rising knowledge amongst people about various skin conditions leading to uneven skin tone and patches. Various international non-profit organizations like International Dermatology Foundation and Melanoma Research Alliance are actively working to educate people on identifying signs of pigmentation disorders and encouraging them to seek medical guidance without any hesitation. Their efforts on social media and online awareness campaigns are helping remove the stigma around such skin conditions and normalize discussing them. This is allowing more individuals suffering from pigmentation issues like melasma, vitiligo or post inflammatory hyperpigmentation to openly consult doctors without fear. As a result, demand for topical creams, laser therapies and other treatment options available is surging across global markets. As per UN World Population Prospects report, nearly 1.7 billion people accessed internet worldwide by 2023, up from 3.2 billion in 2015. This points towards rising scope of virtual awareness drives impacting treatment-seeking behavior positively.