July 20, 2024
Pigmentation Disorders Treatment Market

The Growing Demand For Advanced Treatment Options For Pigmentation Disorders Drives The Pigmentation Disorders Treatment Market

Pigmentation disorders such as melasma, post-inflammatory hyperpigmentation, freckles etc affects millions of people globally each year. Treatments for pigmentation disorders include topical therapies, laser therapies, chemical peels and microdermabrasion. Topical therapies consisting of creams and gels containing ingredients such as hydroquinone, azelaic acid, kojic acid aid in lightening skin pigmentation and reducing the appearance of dark spots. Laser therapies utilizes various laser and light based technologies to target melanin in the skin, disrupting pigmented lesions. Chemical peel treatments uses solutions of alpha hydroxy acids, beta hydroxy acids or trichloroacetic acid to remove the pigmented surface layers of the skin. Microdermabrasion is a non-laser skin resurfacing procedure that gently exfoliates the top layers of skin to reduce visibility of pigmented areas.

The global Pigmentation Disorders Treatment Market is estimated to be valued at US$ 6.84 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing demand for non-invasive and minimally invasive aesthetic procedures across the globe is a major trend witnessed in the pigmentation disorders treatment market. Non-ablative fractional laser therapy and intense pulsed light therapy are gaining popularity as preferred treatment options for pigmentation disorders due to their ability to treat skin pigmentation with minimal recovery time and minimal risk of complications. For instance, an intense pulsed light device such as the Lumenis One uses a combination of laser and light based technologies helping reduce visible signs of aging, pigmentation and veins. Chemical peels containing milder formulations are also becoming popular owing to their ability to improve skin tone and texture with minimal irritation.

Porter’s Analysis

Threat of new entrants: Low, as this market require huge R&D investments and established distribution channels.

Bargaining power of buyers: Moderate, as few large pharmaceutical companies dominate the supply.

Bargaining power of suppliers: Low, as raw materials for pigmentation disorder treatment are commodity products.

Threat of new substitutes: Low, as limited treatment options are available.

Competitive rivalry: High, as major players compete on basis of innovation and portfolios.

Key Takeaways

The Global Pigmentation Disorders Treatment Market Demand is expected to witness high growth over the forecast period. North America region is expected to dominate the market owing to rising prevalence of pigmentation disorders and developed healthcare infrastructure in the US and Canada.

Regional analysis: Asia Pacific region is forecasted to grow at fastest pace during the forecast period backed by rising disposable incomes, increasing awareness about aesthetic treatments and growth of medical tourism in countries like India, China and Japan.

Key players operating in the pigmentation disorders treatment market are Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, China State Shipbuilding Corporation, Mitsubishi Heavy Industries, Samsung Heavy Industries, Imabari Shipbuilding Co., Ltd., Tsuneishi Group, China Shipbuilding Industry Corporation, General Dynamics Corporation, Fincantieri S.p.A., Meyer Werft GmbH & Co. KG, Navantia, Damen Shipyards Group, STX Offshore & Shipbuilding Co., Ltd., Kawasaki Heavy Industries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it