Vitiligo Therapeutics Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Treatment (Topical Treatment, Light Therapy, Surgical Procedures, and Others); Disease Type (Nonsegmental Vitiligo and Segmental Vitiligo); End-User (Hospitals, Aesthetic Clinics, and Others); and Region/Country
The global vitiligo therapeutics market is expected to grow at a significant rate of around 6% during the forecast period. Vitiligo is a chronic disease that causes patches of skin to lose pigment or color. This happens when melanocytes’ skin cells that make pigment are attacked and destroyed, causing the skin to turn a milky-white color. The main symptom of vitiligo is loss of natural color or pigment, called depigmentation. The depigmented patches can appear anywhere on your body and can affect Skin, hands, feet, arms, and face, hair, which can turn white in areas where the skin is losing pigment. Furthermore, rising government investment and new development are also driven the market growth during the forecast period. For instance, in 2019, American Skin Association (ASA), declared funding for skin cancer and disease research. Along with ASA and its affiliates invested over 50 million USD for the treatment of melanoma, psoriasis, and vitiligo.
Corporation, Astellas Pharma Inc., Bausch Health Companies Inc., Baxter International Inc., Pfizer Inc., STRATA Skin Sciences, Reddy’s Laboratories Ltd., AstraZeneca AB, Eli Lilly and Company, Epizyme Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst treatment, topical treatment category to witness robust CAGR during the forecast period” Based on treatment, the market is segmented into topical treatment, light therapy, surgical procedures, and others. Among them, the topical treatment category is to witness a higher CAGR during the forecast period owing to rising environmental circumstances, such as stress, bad sunburn, skin trauma, or exposure to a strong chemical. Moreover, major key players developing advanced treatment procedures. For instance, in Mar 2022, STRATA Skin Sciences, a medical technology company dedicated to developing, commercializing, and marketing innovative products for the treatment of various autoimmune skin diseases, announced that it has joined the Global Vitiligo Foundation as a corporate sponsor (GVF).
“Amongst disease type, the nonsegmental vitiligo to hold a significant share in the market in 2020”
On the basis of disease type, the market is categorized into nonsegmental vitiligo and segmental vitiligo. Among these, the nonsegmental vitiligo to hold a significant share in the market in 2020. Vitiligo is considered to be an autoimmune disorder. In people with vitiligo, the immune system appears to attack the pigment cells (melanocytes) in the skin. This type of vitiligo can have a rapid loss of color or pigment and tends to cover a large area. Many people with vitiligo are also affected by at least one other autoimmune disorder. For instance, according to the National Institute of Environmental Health Sciences (NIH), diseases affect more than 24 million people in the United States.
“North America to hold a significant share in the market”
For a better understanding of the market adoption of the vitiligo therapeutics industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period owing to rising vitiligo cases being the main factor in the region. For instance, according to the American Academy of Dermatology (AAD), vitiligo affects an estimated one in four individuals in the U.S. Also, an estimated 1%-2% of the global population is estimated to be suffering from vitiligo. Furthermore, well-established healthcare infrastructure, increases in research projects, a high prevalence of vitiligo in adults, and high awareness in the region. Also, the availability of global market players and their challenges are faced due to large competition from local and domestic brands.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Vitiligo Therapeutics Market|
|2.2.||Research Methodology of the Vitiligo Therapeutics Market|
|5||IMPACT OF COVID-19 ON THE VITILIGO THERAPEUTICS MARKET|
|6||VITILIGO THERAPEUTICS MARKET REVENUE (USD BN), 2020-2028F|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.4.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||VITILIGO THERAPEUTICS MARKET OPPORTUNITIES|
|13||VITILIGO THERAPEUTICS MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porters Five Forces Analysis|
|17.2.||Astellas Pharma Inc.|
|17.3.||Bausch Health Companies Inc.|
|17.4.||Baxter International Inc.|
|17.6.||STRATA Skin Sciences|
|17.7.||Reddy’s Laboratories Ltd.|
|17.9.||Eli Lilly and Company|
Research Methodology for the Vitiligo Therapeutics Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global vitiligo therapeutics market were the three major steps undertaken to create and analyze the adoption of vitiligo therapeutics market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Vitiligo Therapeutics Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the vitiligo therapeutics market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the vitiligo therapeutics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as treatment, disease type, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Vitiligo Therapeutics Market. Further, we conducted factor analysis using dependent and independent variables such as treatment, disease type, and end-user of vitiligo therapeutics market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the vitiligo therapeutics market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global vitiligo therapeutics market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the vitiligo therapeutics market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global vitiligo therapeutics market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global vitiligo therapeutics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of treatment, disease type, and end-user in the global vitiligo therapeutics market.
The main objective of the Global Vitiligo Therapeutics Market Study
The current & future market trends of the global vitiligo therapeutics market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the vitiligo therapeutics market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of treatment, disease type, and end-user.
- Define and analysis of the regulatory framework for the vitiligo therapeutics market.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the vitiligo therapeutics market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Vitiligo Therapeutics Market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry