Vitiligo Therapeutics Market by Route of Administration and Geography - Forecast and Analysis 2022-2026

The vitiligo therapeutics market share is expected to increase to USD 341.35 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.5%.

This vitiligo therapeutics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers vitiligo therapeutics market segmentation by route of administration (topical, oral, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)). The vitiligo therapeutics market report also offers information on several market vendors, including Alkem Laboratories Ltd., AmerisourceBergen Corp., Astellas Pharma Inc., Bausch Health Companies Inc., Baxter International Inc., Biocon Ltd., Canixa Life Sciences, Concord Biotech Ltd., Dr. Reddys Laboratories Ltd., Glenmark Pharmaceuticals Ltd., Intas Pharmaceuticals Ltd., La Pristine Bioceuticals Pvt. Ltd., LEO Pharma AS, Mallinckrodt Plc, Panacea Biotec Ltd., Pfizer Inc., Puneet Laboratories Pvt. Ltd., Sandoz International GmbH, Strides Pharma Science Ltd, Teva Pharmaceutical Industries Ltd., Veloxis Pharmaceuticals AS, and Viatris Inc. among others.

What will the Vitiligo Therapeutics Market Size be During the Forecast Period?

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Vitiligo Therapeutics Market: Key Drivers, Trends, and Challenges

The growing importance of the aesthetic appeal is notably driving the vitiligo therapeutics market growth, although factors such as the poor patient adherence may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vitiligo therapeutics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Vitiligo Therapeutics Market Driver

One of the ley factors driving growth in the vitiligo therapeutics market is the growing importance of the aesthetic appeal. The importance of aesthetic appeal is growing significantly, specifically in emerging economies like India and China. These emerging economies contribute significantly to the global vitiligo therapeutics market owing to increasing disposable income in these countries primarily. The increasing importance of aesthetic appeal and the inclination of the population toward a better lifestyle have been fueling the market growth for vitiligo therapeutics despite the disease being non-life-threatening. Vitiligo affects around 1%-2% of the total world population, and the growing need for aesthetic appeal is helping the market for vitiligo therapeutics grow.

Key Vitiligo Therapeutics Market Trend

The growing disposable income in emerging countries is a vitiligo therapeutics market trend that is expected to have a positive impact in the coming years. The disposable income in the emerging economies has seen a significant increase in recent years, which has resulted in the growth of the revenue generated from scar treatment products and spot correction treatment products. Many patients with vitiligo are expected to shed their disposable income on the treatment of the disease. North America currently dominates the market for scar treatment and spot correction products and is expected to dominate the market in the coming years because of the rising economic growth. APAC countries, such as India and China, have a higher prevalence of the disease when compared with countries in the regions of EMEA and the Americas.

Key Vitiligo Therapeutics Market Challenge

Poor patient adherence will be a major challenge for the vitiligo therapeutics market during the forecast period. Various factors, including the physician, patient, disease state, and medications selected, can influence adherence to drug regimens. Sometimes physicians do not provide individuals with adequate information about the drugs chronic nature and anticipated side effects. In general, these treatment regimens are often complicated and impractical for individuals with vitiligo, leading to poor compliance and poor prognosis. In certain cases, individuals with vitiligo may use generic or off-label or OTC drugs instead of branded drugs prescribed by physicians due to the formers cost-effective nature. In addition, the drugs prescribed by physicians may not be covered under insurance. In some cases, individuals discontinue the drug regimen after the partial remission of the condition. Apart from these factors, side effects of drugs can also limit their use among individuals with vitiligo.

This vitiligo therapeutics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global vitiligo therapeutics market as a part of the pharmaceutical market within the overall healthcare industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the vitiligo therapeutics market during the forecast period.

Who are the Major Vitiligo Therapeutics Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Alkem Laboratories Ltd.
• AmerisourceBergen Corp.
• Astellas Pharma Inc.
• Bausch Health Companies Inc.
• Baxter International Inc.
• Biocon Ltd.
• Canixa Life Sciences
• Concord Biotech Ltd.
• Dr. Reddys Laboratories Ltd.
• Glenmark Pharmaceuticals Ltd.
• Intas Pharmaceuticals Ltd.
• La Pristine Bioceuticals Pvt. Ltd.
• LEO Pharma AS
• Mallinckrodt Plc
• Panacea Biotec Ltd.
• Pfizer Inc.
• Puneet Laboratories Pvt. Ltd.
• Sandoz International GmbH
• Strides Pharma Science Ltd
• Teva Pharmaceutical Industries Ltd.
• Veloxis Pharmaceuticals AS
• Viatris Inc.

 

This statistical study of the vitiligo therapeutics market encompasses successful business strategies deployed by the key vendors. The vitiligo therapeutics market is fragmented and the vendors are deploying growth strategies such as focusing on increasing their presence and broadening their product portfolio through M&A to compete in the market.

Product Insights and News

• Alkem Laboratories Ltd. - Alkem Laboratories Ltd. is a public company headquartered in India. It is a global company generating $1,196.77 million in revenues and has around 15,000 employees. Its revenue from the global vitiligo therapeutics market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
• Alkem Laboratories Ltd. - The company offers Tacrovera which is an immunosuppressant to treat moderate to severe atopic dermatitis and prevent organ rejection after transplant. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The vitiligo therapeutics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Vitiligo Therapeutics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the vitiligo therapeutics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Vitiligo Therapeutics Market?

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32% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for vitiligo therapeutics in North America. Market growth in this region will be slower than the growth of the market in regions.

The increasing prevalence of the disease along with the rising awareness of the treatment of the disease in individuals will facilitate the vitiligo therapeutics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 outbreak negatively impacted the vitiligo therapeutics market in North America, which resulted in the temporary closure of various industries, including those manufacturing primary immunodeficiency therapeutics. However, in 2021, the initiation of large-scale COVID-19 vaccination drives led to the lifting of restrictions in the region. This has resulted in the resumption of manufacturing activities, which has increased the demand for vitiligo therapeutics. Such factors are expected to drive the growth of the regional vitiligo therapeutics market during the forecast period.

What are the Revenue-generating Route of Administration Segments in the Vitiligo Therapeutics Market?

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The vitiligo therapeutics market share growth by the topical segment will be significant during the forecast period. This topical drugs segment is expected to grow during the forecast period as most of the pipeline drugs that are being developed by the big pharmaceutical players are topical-based medications. For instance, Incyte OPZELURA Ruxolitinib Cream is a topical cream-based medication that is currently in the Phase III stage of clinical trials for the treatment of vitiligo. These drugs are expected to be launched in the market, which, in turn, will drive the growth of the segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the vitiligo therapeutics market size and actionable market insights on post COVID-19 impact on each segment.

 

Vitiligo Therapeutics Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.5%
Market growth 2022-2026	$ 341.35 million
Market structure	Fragmented
YoY growth (%)	3.5
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 32%
Key consumer countries	US, Canada, China, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Alkem Laboratories Ltd., AmerisourceBergen Corp., Astellas Pharma Inc., Bausch Health Companies Inc., Baxter International Inc., Biocon Ltd., Canixa Life Sciences, Concord Biotech Ltd., Dr. Reddys Laboratories Ltd., Glenmark Pharmaceuticals Ltd., Intas Pharmaceuticals Ltd., La Pristine Bioceuticals Pvt. Ltd., LEO Pharma AS, Mallinckrodt Plc, Panacea Biotec Ltd., Pfizer Inc., Puneet Laboratories Pvt. Ltd., Sandoz International GmbH, Strides Pharma Science Ltd, Teva Pharmaceutical Industries Ltd., Veloxis Pharmaceuticals AS, and Viatris Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Vitiligo Therapeutics Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive vitiligo therapeutics market growth during the next five years
• Precise estimation of the vitiligo therapeutics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the vitiligo therapeutics industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of vitiligo therapeutics market vendors

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