Vitiligo Drugs Market to Garner US$ 249.0 Million By 2026 – Coherent Market Insights
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The Global 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), was valued at US$ 120.6 million in 2017, and is projected to exhibit a CAGR of 8.4% during the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights.
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The increasing demand for drugs for efficient treatment of vitiligo is expected to drive growth of the global vitiligo drugs market during the forecast period. Research institutes and manufacturers are focused on research and development of new drugs for the treatment of vitiligo to cater to the increasing consumer demand. For instance, in June 2019, Incyte Corporation announced positive results from the phase 2 study of the Ruxolitinib cream, which is a non-steroidal, anti-inflammatory, JAK inhibitor therapy for patients with vitiligo. Similarly, in July 2019, the Defense Research and Development Organization (DRDO), India, announced a research for the development of a new herbal drug for the treatment of vitiligo.
Furthermore, in 2018, Boston Pharmaceutical expanded its product pipeline by adding a topical formulation called GSK3183475 from GlaksoSmith Kline, a small molecule inhibitor used in the treatment of vitiligo and psoriasis, currently in phase 1 clinical trial. Therefore, the increasing research and development activities related to vitiligo drugs is expected to facilitate growth of the market during the forecast period.
Browse 45 Market Data Tables and 38 Figures spread through 164 Pages and in-depth TOC on “Vitiligo Drugs Market”- Global Forecast to 2026 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).
To know the latest trends and insights prevalent in the global vitiligo drugs market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/vitiligo-drugs-market-to-surpass-us-249-0-million-by-2026-1421
Key players in the market are focused on adopting collaboration and acquisition strategies to develop and commercialize novel vitiligo treatment drugs in order to expand their product portfolio. This in turn is expected to create conducive environment for growth of the market during the forecast period. For instance, in October 2018, Boston Pharmaceutical entered into a licensing agreement with GlaxoSmithKline for the development and commercialization of phase 1 drug products for the treatment of vitiligo. Similarly, in December 2018, Incyte Corporation and Innovent Biologics, Inc. entered into a strategic licensing agreement for three clinical stage products in China. The product includes itacitinib (JAK1 inhibitor) in phase 2 clinical trials.
Key Takeaways of the Global Vitiligo Drugs Market:
- The global vitiligo drugs market is expected to exhibit a CAGR of 8.4% during the forecast period owing to factors such as the increasing incidence of vitiligo and various government initiatives to support the treatment of the disease.
- Among drug class, the corticosteroids segment accounted for a major market share in 2018, as topical corticosteroids are first-choice of treatment against vitiligo
- Among route of administration, the topical segment accounted for a major market share in 2018, owing to the launch and approval of novel topical medications for the management and treatment of vitiligo. For instance, in 2014, Dr. Reddy’s Laboratories, a pharmaceutical company based in India, launched the Melgain lotion indicated for the treatment of vitiligo and other skin pigmentation disorders in India.
- Major players operating in the global vitiligo drugs market are Dermavant Sciences, Inc., Incyte Corporation, Aclaris Therapeutics, Inc., Dr. Reddy’s Laboratories Ltd., Bristol – Myers Squibb, Pfizer, Inc., Clinuvel Pharmaceuticals Ltd., Applied Biology, Inc., and Boston Pharmaceuticals.
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