The global hyperpigmentation treatment market is estimated to amass a revenue of USD 11.84 billion by 2033, with sales growing at a robust CAGR of 8.6% from 2023 to 2033. Predicted to reach USD 4.78 billion in 2023, the target market is shaped by increasing demand for outpatient and microsurgical procedures, constant release of fresh products, and increasing investment by key stakeholders.
Hyperpigmentation refers to the dark patches in the skin that occur due to excess melanin production. This condition can be treated with laser treatments, chemical peels, and cosmeceuticals. An upsurge in the cases of melasma coupled with a better understanding of hyperpigmentation therapeutic interventions facilitates the growth of the hyperpigmentation treatment market in the upcoming years.
The constant release of new products along with high investments in research and development activities by prominent market players will amplify the growth prospects for the hyperpigmentation treatment market. In addition to this, escalating demand for outpatient and microsurgical procedures will likely open new avenues of growth for the market between 2023 and 2033. The target market will be supported by increasing spending on cosmetic procedures and dermabrasion practices like the increased use of lasers in the diagnosis of pigmentation ailments. Further, the availability of laser therapy and phototherapy will also contribute to the market expansion.
With the advancement of the medical sector, in both developed and developing nations, the hyperpigmentation treatment market is also expected to witness strong growth in the next few years. Many participants in the market form profitable contracts due to constant technological advancements in cosmeceuticals and the consequent rise in the use of pharmaceutical skincare products. The rising awareness of the disease as well as of its treatment option will further aid the market growth. Recent years have also witnessed the surging application of cosmeceuticals as compared to traditional skin care as well as greater developments in the cosmeceutical field such as the use of nanotechnology. All of these considerations will drive the hyperpigmentation treatment market forward during the forecast period.
Key Takeaways:
- Poor reimbursement policies and the expensive nature of cosmetic procedures may deter the growth of the hyperpigmentation treatment market.
- The US will emerge as the second-largest treatment market for hyperpigmentation in the upcoming years.
- The hyperpigmentation treatment market in Asia Pacific will dominate the international market space owing to the rising awareness of the disease and its treatment options.
- Based on treatment, the microdermabrasion segment will gain traction during the observation period with the crystal microdermabrasion device segment registering a CAGR of 9% in the US.
- By application, the skin clinics category will observe greater demand and thereby contribute substantially to the overall market growth.
Growing Market Interest: Explore Comprehensive Insights and Trends with Our Detailed Report!
Competitive Landscape:
Vivier Pharma, La Roche-Posay, Pierre Fabre Dermo Cosmetique, Bayer, Alvogen, Allergen, Obagi Medical Products, L’Oreal Paris, and SkinCeuticals, among others, are some of the prominent players in the hyperpigmentation treatment market profiled in the full version of the report.
Significant market players are concentrating on adopting progressive dermatological science and introducing innovative products. These enterprises also engage in various organic and inorganic business strategies to enhance their market position.
More Insights into Hyperpigmentation Treatment Market:
FMI offers the latest, unbiased, and detailed analysis of the global hyperpigmentation treatment market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of type, application, and region.
According to the reports, based on segmentation, the microdermabrasion treatment type will gain popularity over the coming years because of the various benefits associated with the treatment. In terms of application, the skin clinics segment will dominate the overall market.
Based on region, the North America and Asia Pacific hyperpigmentation treatment market will perform well during the forecast period. In 2021, the Asia Pacific market accounted for a 36% share. This regional market will continue to present strong growth in the upcoming years owing to growing awareness of the condition and its treatment option, a decline in cultural taboos, rising disposable income, and changes in lifestyle. The hyperpigmentation market in North America, too, will display notable growth during the projection period.
Key Segments Profiled in the Hyperpigmentation Treatment Market Industry Survey:
By Type:
- Pharmacological Therapy
- Laser Treatment
- Chemical Peels and Bleach
- Microdermabrasion
- Skin Grafting or Plastic Surgery
By Application:
- Skin Clinics
- Drug and Cosmetic Stores
- Hypermarkets and Supermarkets
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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