SEATTLE, June 02, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global vitiligo drug market is estimated to be valued at US$ 151.9 million in 2020 and is expected to exhibit a CAGR of 12.9% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Vitiligo Drug Market:
The increasing number of research and development activities from major market players and U.S. FDA is expected to drive growth of global vitiligo drug market during the forecast period. For instance, on 8th March 2021, US FDA hosted a virtual public meeting on Patient-Focused Drug Development for Vitiligo. US FDA was interested in hearing patients’ perspectives on the impact of vitiligo on daily life and patient views on treatment approaches.
The increasing number of clinical trials and their positive results is expected to drive the growth of global vitiligo drug market. For instance, in January 2020, Incyte announced positive topline results from its randomized, vehicle-controlled, pivotal Phase 3 TRuE-AD2 study evaluating the safety and efficacy of ruxolitinib cream in adolescent and adult patients (age ≥ 12 years) with atopic dermatitis (AD). The study of the True- AD clinical trial program, met its primary endpoint.
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Various government organizations are donating funds for the research and development for the developing drugs for treatment of vitiligo disease, and this is expected to boost growth of the global vitiligo drug market. For instance, in February 2019, American Skin Association (ASA) announced funding for 18 new grants for skin cancer and disease research. The American Skin Association (ASA) and its affiliates invested over US$ 50 Million for treatment of melanoma, psoriasis, and vitiligo.
The increasing number of product development is expected to drive growth of the global vitiligo drug market. For instance, in June 2019, Defence Research and Development Organization (DRDO) announced the development of newer version of herbal drug Lukoskin. Lukoskin was developed for management of vitiligo.
Key Market Takeaways:
The global vitiligo drug market is expected to exhibit a CAGR of 12.9% during the forecast period (2020-2027), owing to the rising number of clinical trials are major factors that propel growth of the global vitiligo drug market. For instance, in February 2021, Pfizer Inc. successfully completed clinical trial for testing the safety and efficacy of their lead candidates, PF-06651600 and PF-06700841 in vitiligo patients.
Furthermore, key players in the North America vitiligo drug market are focused on adopting collaboration and partnership strategies to enhance their market share in North America, which is expected to drive growth of the market during the forecast period. For instance, in August 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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Competitive Landscape:
Key players operating in the global vitiligo drug market including Dermavant Sciences, Inc., Incyte Corporation, Aclaris Therapeutics, Inc., Dr. Reddy’s Laboratories Ltd., Bristol - Myers Squibb, Pfizer, Inc., Clinuvel Pharmaceuticals Ltd., Boston Pharmaceuticals, Applied Biology, Inc., Arcutis Biotherapeutics, Villaris Therapeutics, Arrien Pharmaceuticals LLC., and Temprian Therapeutics Inc.
Market Segmentation:
- Global Vitiligo Drug Market, By Drug Type:
- Marketed Drugs
- Calcineurin Inhibitors
- Corticosteroids
- Psoralens
- Pipeline Drug
- Ruxolitinib (Phase 3)
- Marketed Drugs
- Global Vitiligo Drug Market, By Indication Type:
- Segmental Vitiligo
- Non-segmental Vitiligo
- Global Vitiligo Drug Market, By Route of Administration Type:
- Oral
- Topical
- Global Vitiligo Drug Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Vitiligo Drug Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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