Vitiligo Treatment Global Market Opportunities and Strategies to 2033

This report describes and explains the vitiligo treatment market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global vitiligo treatment market reached a value of nearly $1.4 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.5% since 2018. The market is expected to grow from $1.4 billion in 2023 to $1.8 billion in 2028 at a rate of 5.1%. The market is then expected to grow at a CAGR of 5.7% from 2028 and reach $2.4 billion in 2033.

Growth in the historic period resulted from the increased awareness of vitiligo, increase in pharmaceutical research and development (R&D) expenditure and emerging markets growth. Factors that negatively affected growth in the historic period was side effects associated with medications.

Going forward, increase in healthcare expenditure globally, increasing aging population, growing use of telemedicine and rising disposable income will drive the growth. Factor that could hinder the growth of the vitiligo treatment market in the future include high cost of treatment.

The vitiligo treatment market is segmented by drugs type into corticosteroids, calcineurin inhibitors and other drug options. The corticosteroids market was the largest segment of the vitiligo treatment market segmented by drugs type, accounting for 79.6% or $1.1 billion of the total in 2023. Going forward, the corticosteroids segment is expected to be the fastest growing segment in the vitiligo treatment market segmented by drugs type, at a CAGR of 5.2% during 2023-2028.

The vitiligo treatment market is segmented by end-user into hospitals, homecare, specialty clinics and other end-users. The hospitals market was the largest segment of the vitiligo treatment market segmented by end-user, accounting for 44.1% or $616.8 million of the total in 2023. Going forward, the homecare segment is expected to be the fastest growing segment in the vitiligo treatment market segmented by end-user, at a CAGR of 6.1% during 2023-2028.

The vitiligo treatment market is segmented by disease type into nonsegmental vitiligo and segmental vitiligo. The nonsegmental vitiligo market was the largest segment of the vitiligo treatment market segmented by disease type, accounting for 83.5% or $1.1 billion of the total in 2023. Going forward, the segmental vitiligo segment is expected to be the fastest growing segment in the vitiligo treatment market segmented by disease type, at a CAGR of 5.9% during 2023-2028.

The vitiligo treatment market is segmented by treatment into medication, therapies, and other treatment options. The medication market was the largest segment of the vitiligo treatment market segmented by treatment, accounting for 85.4% or $1.2 billion of the total in 2023. Going forward, the therapies segment is expected to be the fastest growing segment in the vitiligo treatment market segmented by treatment, at a CAGR of 5.9% during 2023-2028.

The medication market is segmented by distribution channel into hospital pharmacies, retail pharmacies and online pharmacies. The retail pharmacies market was the largest segment of the medication market segmented by distribution channel, accounting for 60.7% or $725.1 million of the total in 2023. Going forward, the online pharmacies segment is expected to be the fastest growing segment in the medication market segmented by distribution channel, at a CAGR of 6.4% during 2023-2028.

North America was the largest region in the vitiligo treatment market, accounting for 34.1% or $476.9 million of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the vitiligo treatment market will be Asia Pacific and North America where growth will be at CAGRs of 5.7% and 5.3% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 4.9% and 4.7% respectively.

The global vitiligo treatment market is fairly fragmented, with a large number of players operating in the market. The top five competitors in the market made up to 17.1% of the total market in 2022. Incyte Corporation was the largest competitor with 9.63% share of the market, followed by Dr. Reddy’s Laboratories Ltd with 4.35%, Glenmark Pharmaceuticals Ltd with 2.35%, Strides Pharma Science Limited with 0.68% and Issar Pharmaceuticals Pvt with 0.08%.

The top opportunities in the vitiligo treatment market segmented by drugs type will arise in the corticosteroids segment, which will gain $322.1 million of global annual sales by 2028. The top opportunities in the vitiligo treatment market segmented by disease type will arise in the nonsegmental vitiligo segment, which will gain $316.7 million of global annual sales by 2028. The top opportunities in the vitiligo treatment market segmented by end-user will arise in the hospitals segment, which will gain $160 million of global annual sales by 2028. The top opportunities in the vitiligo treatment market segmented by treatment will arise in the medication segment, which will gain $332.3 million of global annual sales by 2028. The top opportunities in the medication market segmented by distribution channel will arise in the retail pharmacies segment, which will gain $202.8 million of global annual sales by 2028. The vitiligo treatment market size will gain the most in the USA at $127.7 million.

Market-trend-based strategies for the vitiligo treatment market include introduction of self-designed kits for preventive vitiligo treatment, approval of new treatments or creams for vitiligo treatment, strategic collaborations and partnerships to advance vitiligo treatment research and investigating clinical trials for next-generation vitiligo therapies.

Player-adopted strategies in the vitiligo treatment market include focus on strengthening its business capabilities and business operations through new product launches.

To take advantage of the opportunities, the analyst recommends the vitiligo treatment companies to focus on proactive vitiligo therapy kits, focus on diversified treatment options, focus on clinical trials for next-generation vitiligo therapies, focus on corticosteroids segment, focus on segmental vitiligo, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, focus on tailored solutions for end-users, target aging populations and focus on specialty clinics and homecare Segments.