Pigmentation Disorders Treatment Market Size

Pigmentation Disorders Treatment Market Analysis

The Pigmentation Disorders Treatment Market size is estimated at USD 7.40 billion in 2024, and is expected to reach USD 9.65 billion by 2029, growing at a CAGR of 5.43% during the forecast period (2024-2029).

COVID-19 had a profound impact on the pigmentation disorders treatment market. According to the Aesthetic Society 2021 report, aesthetic plastic surgery remained popular despite the COVID-19 pandemic. Some countries faced a decline in pigmentation disorders treatment due to the cancellations of non-essential procedures in the country. With the pandemic restrictions lifted, most surgeons are noticing more people seeking cosmetic treatment. With rising strategic initiatives, such as product innovation, launches, and approvals by key players for various pigmentation disorders treatments, the market is expected to regain its traction and witness a stable growth rate over the upcoming years.

The growth of the pigmentation disorders treatment market is attributed to factors such as the increasing prevalence of pigmentation disorders and the growing expenditure on dermatological treatments.

Some examples of common pigmentation disorders include post-inflammatory hyperpigmentation, melasma, solar lentigines, ephelides (freckles), vitiligo, and café au lait macules. Skin biopsy, skin inspection, and a proper dermatologic history can aid in ruling out the melanoma and its antecedents. Pigmentation diseases are treated with topical medicines, chemical peels, cryotherapy, light or laser therapy, or a combination of these techniques to address the underlying illness. For instance, according to a research article published in Karger Journal in 2021, it was observed that people with dark skin (South/Southeast Asian, Hispanic/Latin American, and African descent) have a high prevalence of pigmentary disorders. In addition, as per the same source, pigmentary disorders are the third and fourth most common dermatoses in Blacks and Hispanics. Thus, the high prevalence of pigmentation disorders is expected to create opportunities for market growth in the region where the majority is high to avail treatment options for people, which will further augment the market growth during the forecast period.

Furthermore, increasing company initiatives, such as rising product launches, approvals, and partnerships, drive market growth. For instance, in October 2021, Ahmedabad-based pharma company Uniza Healthcare launched a lotion, Vitellus, to manage Vitiligo in the Indian market. The lotion combines Greyverse, Melitane GL 200, and EUK-134 in collaboration with a Canadian company Lucas Meyer Cosmetics, along with Indian company Amvigor Organics. The partnership among different key players to launch various products indicated for pigmentation disorders is expected to expand the available treatment options for the affected individuals, increase product availability, and thereby propel market growth.

Thus, the market studied is expected to witness significant growth over the forecast period owing to the factors such as the rising prevalence of pigmentation disorders and strategic initiatives undertaken by key players. However, the high cost of cosmetic procedures and inadequate reimbursement policies are expected to hamper the market's growth over the forecast period.