SWOT Analysis
Strength: Pigmentation disorders treatment market has high prevalence rate which drives the market growth. New drug development and advance treatment options like laser therapy have increased the efficacy and success rate of treatment. Growing awareness regarding the available treatment alternatives is also supporting the market expansion.
Weakness: High cost of advanced treatment therapies hampers the market growth to some extent. Also, lengthy approval time for new treatment drugs poses a challenge. Side effects associated with few treatment options acts as a barrier.
Opportunity: Untapped emerging markets offer huge growth potential. Increasing healthcare expenditure in developing nations will create lucrative opportunities. Rising geriatric population susceptible to pigmentation disorders augurs well for the market. Growing inclination for minimally invasive procedures presents an opportunity area.
Threats: Stringent regulations for new drug approval delays the launch of novel products. Patent expiry of blockbuster drugs impacts the market revenues of companies. Unexpected adverse effects post approval also pose threats. Increasing popularity of alternative medicines restricts the market growth.
Key Takeaways
The Global Pigmentation Disorders Treatment Market Size is expected to witness high growth during the forecast period of 2023 to 2030. Regional analysis shows that Asia Pacific region dominates currently due to high prevalence and is expected to retain fastest growth due to improvements in healthcare infrastructure and increasing healthcare spending in China and India.
Key players operating in the Pigmentation Disorders Treatment market are Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, China State Shipbuilding Corporation, Mitsubishi Heavy Industries, Samsung Heavy Industries, Imabari Shipbuilding Co., Ltd., Tsuneishi Group, China Shipbuilding Industry Corporation, General Dynamics Corporation, Fincantieri S.p.A., Meyer Werft GmbH & Co. KG, Navantia, Damen Shipyards Group, STX Offshore & Shipbuilding Co., Ltd., and Kawasaki Heavy Industries.
The market size for 2023 is projected to be US$ 6.84 Bn indicating a steady growth. Regional analysis shows Asia Pacific region dominates currently with over 35% value share due to huge patient pool and improving access to healthcare facilities. China and India are fastest growing markets due to their rapidly developing healthcare infrastructure, growing medical tourism sector and changing lifestyle leading to high prevalence.
Key players operating in the Pigmentation Disorders Treatment market include Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, China State Shipbuilding Corporation, Mitsubishi Heavy Industries, Samsung Heavy Industries, Imabari Shipbuilding Co., Ltd., Tsuneishi Group, China Shipbuilding Industry Corporation, General Dynamics Corporation, Fincantieri S.p.A., Meyer Werft GmbH & Co. KG, Navantia, Damen Shipyards Group, STX Offshore & Shipbuilding Co., Ltd., and Kawasaki Heavy Industries. These companies are focusing
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