The Vitiligo Treatment Market is expected to witness an escalation going forward. With health apps, biosensors, AI, VR, telehealth, robots, cloud computing, predictive analysis, and EHRs being rampantly used, there is nothing to hold the healthcare vertical from soaring high. The healthcare vertical, would, see its cash registers ringing on the count of digital IoT creeping in at a rapid pace.
Vitiligo is a skin condition which causes patchy loss of skin pigmentation. Vitiligo affects 0.2% to 1 % of the people around the world. Vitiligo affect any location of the body where in the skin doesn’t have its characteristics color because melanin of the skin is lost. Vitiligo is usually caused in all the races equally but is more noticeable in dark skinned people. People carrying gene with vitiligo, sunburn and exposure to certain chemical and mechanical trauma have high risk of developing vitiligo.
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Also people with autoimmune disease, such as alopecia areata or Hashimoto’s disease, are at an increased risk of developing vitiligo. According to the American Academy of Dermatology Skin Disease, vitiligo is one among the 24 skin disease. More than 150,000 Americans across all age were treated for vitiligo in 2013 and the cost of healthcare was over $328 per patient which is three times over rosacea and twice more than acne.
Increasing disease prevalence for vitiligo, changing lifestyle, growing awareness among populations are the factors which drive the market of vitiligo treatment. Furthermore, availability of appropriate treatment, development of new novel therapy and drug discovery, undergoing clinical trial by various manufacturer spur the market of vitiligo treatment in the near future.
Growing importance of aesthetic appeal, growing disposable income especially in emerging countries is expected to boost the vitiligo treatment market in forecast period. However poor patience adherence, high cost of treatment and stringent regulation for the drug development are the factors which hinder the growth of vitiligo treatment market.
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The North America market contributes for the largest revenue share for Vitiligo Treatment, owing to growing prevalence of skin disorder such as vitiligo, rising adoption of phototherapy treatment options and high disposable income.
Europe is expected to contribute for the second large revenue share in the global vitiligo treatment market, owing to presence of key manufacturers and increasing research and development funding along with the undergoing rigorous clinical trial.
Asia Pacific is expected to show rapid growth, owing to increasing adoption of new technology and drug, increasing government funding and increasing medical tourism in countries such as Thailand, India, Singapore, South Korea, and Malaysia. China is expected to register fast growth, due to high patient population and adoption of cosmetic procedures for the vitiligo treatment market and rapid development of skin care industry.
Latin America and Middle East & Africa is expected to show sluggish growth in vitiligo treatment market, due to less developed healthcare infrastructure and lack of skilled physicians.
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Examples of some of the key manufacturer present in the global Vitiligo Treatment market are Novartis AG, Allergan, Inc., Clinuvel Pharmaceuticals Limited, Eli Lilly Company, Incyte Corporation, AstraZeneca AB and Epizyme, Inc., among others.
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