The Global Vitiligo Treatment Market is likely to gain impetus from an ever rising demand for innovative and modern treatment options for vitiligo. According to Fortune Business Insights, titled, “Vitiligo Treatment: Global Market Analysis, Insights and Forecast, 2019-2026,” the global vitiligo treatment market was valued at US$ 1,243.8 Mn in 2018. The market is projected to reach US$ 1,944.5 Mn by 2026, exhibiting a CAGR of 5.8% in the forecast period.
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Some of the Main Key Players Covered in the Report
Astellas Pharma Inc.
Bausch Health Companies Inc.
Baxter International Inc.
STRATA Skin Sciences
Reddy’s Laboratories Ltd.
In terms of treatment, the global vitiligo treatment market is grouped into topical treatment, surgical procedures, light therapy, and others. Amongst these, the topical treatment segment had held majority of the vitiligo treatment market share. This is because of the increasing patient pool, need for numerous treatment methods for vitiligo, and an increasing number of research and development activities. However, lack of awareness regarding the available vitiligo treatment and reduction in the diagnosis rate may hamper the vitiligo treatment market growth.
Increasing Number of Vitiligo Patients to Favor Growth in Asia Pacific
The global vitiligo treatment market is geographically divided into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. Amongst these, in Asia Pacific, India, China, and the other Southeast Asian countries have been witnessing huge patient pools of vitiligo.
This has further resulted in an urgent requirement for effective treatment options available of vitiligo. The markets of Latin America and the Middle East and Africa, on the other hand are expected witness notable grow in the near future. This is because darker skinned individuals who suffer from vitiligo are demanding for modern methods of treatment that would help the condition become less noticeable on them.
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Key Players Focus on Effective Medicine Launch to Strengthen Market Position
Incyte Corporation, a pharmaceutical company, based in the U.S., announced the result of its dose-ranging, randomized, vehicle-controlled, and double-blind Phase 2 study evaluating ruxolitinib cream, an anti-inflammatory, nonsteroidal, and JAK inhibitor therapy in patients with vitiligo between the age group of 18 to 75 years of age. The results were out after 24 weeks.
The study met its primary goal and treated many patients with the help of ruxolitinib cream for 24 weeks. The results were presented at the 24th World Congress of Dermatology in Italy. The positive result supports the potential of ruxolitinib cream in providing novel treatment for chronic autoimmune disease.