Wilmington, Delaware, United States, July 19, 2023 (GLOBE NEWSWIRE) -- The global melasma drug treatment market was valued at US$ 2.6 Bn in 2022 and is projected to expand at a CAGR of 8.3% from 2023 to 2031.
Increase in demand for effective and safe therapies for melasma is expected to offer significant business opportunities to companies in the market. Significant usage of hydroquinone, azelaic acid, kojic acid, Vitamin C, corticosteroids, arbutin, and triple combination creams is anticipated to fuel market development.
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Introduction of novel botanical and non-botanical agents in oral therapies is likely to broaden market outlook. Growth in understanding of pathogenesis of melasma among the research community is also projected to strengthen market growth.
Key Findings of Study
Advancements in Melasma Topical Treatment
In terms of route of administration, the topical segment accounted for the dominant market share in 2022. Extensive adoption of topical gels and ointments among the patient population is anticipated to augment the segment. Hydroquinone is a widely-used topical therapy. It is prominently used as mono-therapy. Additionally, hydroquinone is preferred as a key ingredient in dual and triple combination therapies. Significant preference for this topical therapy for the treatment of hyperpigmentation is estimated to offer lucrative business opportunities to companies in the market.
Significant Demand for Treatments for Mixed Melasma
Based on type of melasma, the mixed melasma segment accounted for the major share of 70.0% in 2022. High prevalence of mixed melasma among the women population is a key trend expected to bolster the segment. Rise in demand for novel topical, oral, and procedural therapies for mixed melasma is anticipated to accelerate market development.
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Key Growth Drivers of Global Melasma Drug Treatment Market
- High prevalence of melasma in the general population around the globe is a key driver of the market. Melasma is more common in darker skin types than in lighter skin types and prevalent in females than in males.
- Advancements in drug delivery systems, especially in transdermal drug delivery, and improvements in topical therapies are expected to augment market size
Regional Landscape
Asia Pacific is projected to account for the leading market share in 2022. Market demand in the region is fueled by the increase in prevalence of melasma. High prevalence of the disease in Asia Pacific can be ascribed to the presence of several risk factors such as high exposure to ultraviolet (UV) radiation, pregnancy, usage of hormonal therapies, and regular use of cosmetics on sensitive skin. Increase in adoption of effective topical therapies is expected to bolster market development in the region. The affected individuals in the region, particularly women, seek treatments for cosmetic/esthetic reasons.
Significant prevalence and incidence of melasma among women in North America is anticipated to create significant business opportunities for companies in the market. Increase in demand for the disease treatment in dermatology clinics is augmenting the market size in the region. Rise in R&D activities in next-generation treatment modalities for melasma is likely to accelerate the market development in North America over the next few years.
Europe is also a lucrative market for melasma drug treatment. High adoption of treatments among the older population and rise in usage of topical treatments are trends that are likely to bolster the market value in the region.
Competition Landscape
Recent market trends indicate a growth in R&D activities in novel therapies. The business landscape is highly fragmented, since a large number of companies hold significant share of the market.
Key players in the market are
- AbbVie, Inc.
- GALDERMA
- Obagi Cosmeceuticals LLC
- Valeant Pharmaceutical
- Abbott
- La Pristine
- Glenmark Pharmaceuticals Ltd.
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Segmentation
The global melasma drug treatment market is segmented based on
Type of Melasma
- Epidermal Melasma
- Dermal Melasma
- Mixed Melasma
Route of Administration
- Oral
- Topical
Drug Agent
- Hydroquinone
- Topical Retinoid
- Topical Steroid
- Triple Combination Cream
- Others
Gender
- Men
- Women
Distribution Channel
- Offline
- Online
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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