VITILIGO DRUGS MARKET ANALYSIS

Vitiligo is a skin condition, in which patches of skin lose their color. The total skin area can be affected by vitiligo. This skin disease varies from person to person, it can affect eyes, inside of the mouth, and hair. It is difficult to predict the spread of the patches and by how much. The major symptom for vitiligo is appearance of white spots or patches on skin. There are two major types of vitiligo such as segmental vitiligo and non-segmental vitiligo. Calcineurin Inhibitors, Corticosteroids, and Psoralens are some major drugs indicated by doctors for the treatment of vitiligo disease. Major factors that are expected to fuel growth of the market during the forecast period include increasing drug approvals, investments in research and development of drugs, and strategic expansions by players operating in vitiligo drug market to strengthen their geographical footprint.

Vitiligo Drug Market – Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. Private healthcare sectors is one of the sectors is one the sectors, which is majorly impacted by the COVID 19 pandemic. Coronavirus pandemic has negatively impacted the development, production, and supply of medicines and also affected growth of the pharmaceutical businesses of various companies across the globe, as COVID-19 pandemic has led to lockdown in several countries, globally. This lockdown has resulted in the closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of the pharmaceuticals and kits for diagnostic and therapeutic use. Thus, COVID-19 pandemic has affected the economy in three main ways; 1) By directly affecting the production and demand; 2) By creating disruptions in distribution channels; and 3) By its financial impact on firms and financial markets

The global vitiligo drug market is estimated to be valued at US$ 151.9 million in 2020, and is expected to exhibit a CAGR of 12.6% during the forecast period (2020-2027).

Figure 1.: Global Vitiligo Drug Market Share (%) Product Type, 2020-2027

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Increasing number of clinical trial and product approvals are expected to drive growth of the global vitiligo drug market.

Major factors assisting the market growth during the forecast period include rising focus on development of drugs to treat vitiligo disease. For instance, in December 2019, Dermavant Sciences, a dermatology-focused subsidiary of Roivant Sciences, announced that the first patient has been dosed in its Phase 2a vitiligo clinical trial for topical cerdulatinib.

Furthermore, increasing demand for drugs for efficient treatment of vitiligo is expected to drive growth of the global vitiligo drugs market during the forecast period. For instance, in November 2019, Temprian Therapeutics Inc., a Chicago-based startup company dedicated to developing therapies for autoimmune disease, announced the in-licensure of a pending composition-of-matter patent for a DNA-based drug encoding the modified heat shock protein, HSP70i, from Northwestern University. The company has worked closely with the vitiligo patient community for the development of a safe, non-invasive, market-oriented treatment for vitiligo. The HSP70i-based drug is designed to slowdown autoimmunity, stops the spread of the disease, and trigger repigmentation.

Global Vitiligo Drug Market – Restraints

Availability of advanced technologies for vitiligo treatment is expected to hinder growth of the market. False positive reports are also expected to hamper growth of the market. For instance, in October 2018, STRATA Skin Sciences, a manufacturer of innovative products for treatment of skin conditions, announced the launch of XTRAC S3 308nm Laser at the American Society for Dermatologic Surgery meeting. The XTRAC S3 308nm Laser is used for treating skin disorders such as psoriasis and vitiligo. The XTRAC laser utilizes therapeutic ultra-violet B light to treat affected skin areas without damaging surrounding healthy skin.

Global Vitiligo Drug  Market – Regional Analysis

On the basis of region, the global vitiligo drug market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to be the most lucrative region in the vitiligo drug  market during the forecast period. The increasing number of R&D activities and pipeline vitiligo drug candidates are  major factors propelling growth of the North America vitiligo drug market. For instance, in June 2019, phase II clinical trial conducted by Tufts Medical Center in Boston found that a topical cream - ruxolitinib, was effective in improving facial vitiligo symptomsMoreover, increasing prevalence of vitiligo in Brazilian population is expected to aid in the market growth in Latin America. For instance, according to the Pigment Cell & Melanoma Journal: 2017, out of 6,048 candidates interviewed, 97 residents reported to have vitiligo. Therefore, there is around 1.15% prevalence of vitiligo in Brazil.

Figure 2.: Global Vitiligo Drug Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

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Global Vitiligo Drug Market - Competitive Landscape

Key players operating in the global vitiligo drug market market include Dermavant Sciences, Inc., Incyte Corporation, Aclaris Therapeutics, Inc., Dr. Reddy’s Laboratories Ltd., Bristol - Myers Squibb, Pfizer Inc., Clinuvel Pharmaceuticals Ltd., Boston Pharmaceuticals, Applied Biology, Inc., Arcutis Biotherapeutics, Inc., Villaris Therapeutics, Arrien Pharmaceuticals LLC, and Temprian Therapeutics Inc.