Vitiligo Drugs Market Analysis | CMI

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VITILIGO DRUGS MARKET ANALYSIS

• Vitiligo Drugs Market, by Drug Class (Calcineurin
  Inhibitors, Corticosteroids, and Psoralens), by
  Type (Segmental and Non-segmental), by Route of
  Administration (Oral and Topical), by
  Distribution Channel (Hospital Pharmacies, Retail
  Pharmacies, and Online Pharmacies), and by Region
  (North America, Latin America, Europe, Asia
  Pacific, Middle East, and Africa) - Size, Share,
  Outlook, and Opportunity Analysis 2018 2026
• The global vitiligo drugs market size was valued
  at US 120.6 million in 2017, and is expected to
  exhibit a CAGR of 8.4 over the forecast period
  (20182026).

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Figure 1. Global Vitiligo Drugs Market Value (US
Mn), by Region, 2018
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Market Drivers

• Increasing prevalence and incidence of vitiligo
  is expected to propel the global Vitiligo Drugs
  Market growth
• Vitiligo causes loss of skin color in spots. It
  can affect the skin on any part of the body,
  hair, and the inside of the mouth. Treatment for
  vitiligo can restore the color to the affected
  spot on the skin. However, it cannot completely
  prevent skin discoloration. According to the
  American Academy of Dermatology, 2017, the
  prevalence of vitiligo is approximately 1 in the
  U.S. and Europe.
• Vitiligo is listed among 24 skin diseases
  examined in the Burden of Skin Disease report
  commissioned by the American Academy of
  Dermatology. Moreover, according to reports
  published by the American Academy of Dermatology
  in 2017, over 150,000 patient were treated for
  vitiligo during 2013 in the U.S. According to a
  study published in the National Center for
  Biotechnology Information (NCBI), in October
  2017, an estimated 0.5-1 of the global
  population was diagnosed with vitiligo.
  Furthermore, in the same year, approximately 8.8
  of Indias population and 0.38 of Denmarks
  population was diagnosed with vitiligo.
• Therefore, increasing worldwide prevalence of
  vitiligo is expected to aid in growth of the
  global vitiligo drugs market over the forecast
  period.

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Market Restraints

• However, availability of advanced technologies
  and alternative therapies for vitiligo treatment
  is expected to restrain growth of the vitiligo
  drugs market during the forecast period. For
  instance, in October 2018, STRATA Skin Sciences,
  a manufacturer of innovative products for the
  treatment of skin conditions, announced the
  launch of XTRAC S3 308nm Laser at the American
  Society for Dermatologic Surgery Meeting. The
  XTRAC S3 308nm Laser is used for the treatment of
  skin disorders such as psoriasis and vitiligo.
  The XTRAC laser utilizes therapeutic UVB light
  for the treatment of affected skin areas without
  damaging surrounding healthy skin.

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Figure 2. Global Vitiligo Drugs Market Share (),
by Drug Class
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Market Opportunities

• Increasing number of funding grants to accelerate
  development of effective treatment for vitiligo
  is expected to bolster the market growth
• Increasing number of initiatives undertaken by
  various government organizations to develop novel
  treatments for vitiligo is expected to augment
  the market growth. For instance, in February
  2019, American Skin Association (ASA) announced
  funding for 18 new grants for skin cancer and
  disease research. The ASA and its affiliates
  invested over US 50 Mn for the treatment of
  melanoma, psoriasis, and vitiligo. Moreover,
  various government organizations are also focused
  on offering funds to accelerate development of
  effective treatment options for vitiligo, thereby
  augmenting the market growth. For instance, the
  Vitiligo Society in Europe funds research
  projects with the aim of establishing the real
  causes of vitiligo as well as developing
  effective and safe treatments for patients. The
  Society also supports and closely monitors
  research initiatives and is supported by a
  Medical and Scientific Advisory Panel.

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Key Players

• Major players operating in the global vitiligo
  drugs market include, Dermavant Sciences, Inc.,
  Incyte Corporation, Aclaris Therapeutics, Inc.,
  Dr. Reddys Laboratories Ltd., Bristol - Myers
  Squibb, Pfizer, Inc., Clinuvel Pharmaceuticals
  Ltd., Applied Biology, Inc., and Boston
  Pharmaceuticals.

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Key Development

• Key players in the market are focused on adopting
  acquisition strategies to enhance their market
  share, which is expected to augment the market
  growth. For instance, in 2017, Aclaris
  Therapeutics, Inc. acquired Confluence Life
  Sciences, Inc., a company focused on development
  of kinase inhibitors for the treatment of
  autoimmune disorders such as alopecia areata,
  vitiligo, and atopic dermatitis.

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