Alopecia Treatment Market

Alopecia treatment market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.

Alopecia Treatment Market Gains a Boost from Rising Alopecia Cases, and Growing Consumer Inclination Toward Spending on Hair Reinstatement Solutions

Growing prevalence of alopecia areata continues to influence the adoption of alopecia products on the global front. Several factors such as unhealthy diet consumption, heavy smoking, increasing stress levels and sedentary lifestyle contribute towards the development of this autoimmune disease that affects the scalp resulting in hair loss. For instance, according to ISHRS (International Society of Hair Restoration Surgery), around 35 million men in United States are affected by alopecia each year. Likewise, as per NICE (National Institute of Health and Care Excellence) UK, around 15 per 10,000 individuals in UK were affected by alopecia in 2020. Also, according to American Hair Loss Association, hair loss due to androgenic alopecia is high among men and accounts for around 95%. This rising condition is expected to compel individuals to invest in hair reinstatement solutions, in turn elevating the growth prospects of alopecia treatment market.

In view of curtailing further hair loss individuals are opting for advanced treatments to preserve scalp health. This has spurred the demand for various alopecia treatment products such as Minoxidil, and Finasteride. In addition, rising inclination towards self-aesthetics among common population has resulted in an increase in the usage of alopecia treatment products to reduce hair fall. According to ISHRS, since past decade the hair restoration procedures grew by over 60% and are likely to maintain status quo going forward. In this backdrop, growing patient pool affected by alopecia is expected to elicit potential avenues for the alopecia treatment market.

Growing Drug Pipeline for Treating Hair Loss to Heavily Contribute to Value Growth of Alopecia Treatment Market

Rising prevalence of alopecia has driven companies to invest in research and launching advanced drugs for the treatment. Rising demand for alopecia drugs has pushed pharmaceutical companies to develop optical and oral drugs for treating alopecia. In 2020, Incyte Corporation and Eli Lilly and Company revealed that the FDA has approved baricitinib drug for treating alopecia areata. Likewise, in 2021, Follicum AB completed its Phase 2a study for FOL-005 which can be used in treating hair loss. The trial was carried out on 200 males to study the efficacy and safety of different doses of FOL-005. Same year in May, Concert Pharmaceuticals Inc initiated THRIVE-AA2 phase 3 trials for CTP-543 to study its efficacy. That said, growing drug pipeline for alopecia is expected to strongly complement the growth of the alopecia treatment market in the coming years.

North America to Slate Dominance in Global Alopecia Treatment Market, Asia Pacific to Follow Suit

Demand for alopecia treatment products across several developed nations in North America is expected to witness stable rise in the forthcoming years. This is mainly attributed towards increasing prevalence of alopecia areata which is the most common autoimmune skin disorder that results in loss of hair on the scalp. For instance, according to the National Alopecia Areata Foundation, this autoimmune skin disease affects over 6.8 million individuals in the United States alone with a 2.1% of lifetime risk. Similarly, as per United States National Library of Medicine, this disease affects 1 in 500 – 1000 individuals in the country and is likely to increase in the coming years. Hormonal changes, excess medications and heredity are few of the main causes of alopecia areata and the disease can occur among all sexes and age groups. Moreover, rising geriatric population is also another factor influencing the use of alopecia treatment products, as normal aging and hair loss are closely related. Other aspects such as favorable healthcare infrastructure, availability of new treatment therapies and stable increase in the GDP per capita along with rising hair loss conditions is expected to drive the alopecia treatment market in North America in the forthcoming years.

On the other hand, the Asia Pacific region is expected to showcase momentous growth with respect to demand for alopecia treatment. Hair loss being the most common reason for this rising demand, it is also complemented by increasing population rate across economies such as China and India. This has given an impetus to the manufacturers of alopecia treatment products on the back of rising customer pool. Furthermore, rising binge eating, sedentary lifestyles and increasing rate of cigarette smoking which results in weak immune system are few of the reasons for the rise in alopecia in the region. This has in turn translated into significant opportunities for dermatologists and hair care clinicians. It has given rise to reinstatement systems and increasing investments in the establishment of dermatology clinics in the region, consecutively triggering sales of alopecia treatment products. In this background, the future of alopecia treatment market in Asia Pacific is likely to grow optimistic offering potential opportunities for companies in alopecia treatment market across the region.

Alopecia Treatment Market: Competitive Landscape

The competition scenario in alopecia treatment market is highly fragmented. A plethora of different products such as topical and oral treatments, restorative hair treatment and scalp injectable are becoming commercially available across several regions worldwide. Few of the major players in the market include Aclaris Therapeutics Inc., Fagron, Cipla Inc., Merck & Co. Inc., Follicum AB, Sun Pharmaceutical Industries Ltd., Johnson & Johnson, Daiichi Sankyo, GlaxoSmithKline Plc, and Concert Pharmaceuticals Inc. 

Regional Classification of the Global Alopecia Treatment Market is Described Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Alopecia Treatment Market

• Alopecia Treatment Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 - 2022
• Market Value at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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