According to the latest report by IMARC Group, titled, “Alopecia Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global alopecia treatment market reached a value of US$ 3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2027, exhibiting a CAGR of 4.7% during 2022-2027.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Alopecia is a chronic and autoimmune disease that attacks hair follicles and causes hair loss anywhere on the body. It comprises alopecia areata, alopecia totalis, and alopecia universalis (AU), causing bald patches on different body parts, such as the scalp, beard, eyebrows, armpits, eyelashes, and inside the nose and ears. It can be inherited from an affected parent and cause sensations of itching, burning, and tingling on the skin. Apart from this, it affects fingernails and toenails, thereby making them brittle, red, and pitted. It affects patients suffering from asthma, pernicious anemia, seasonal allergies, thyroid disease, and vitiligo. Alopecia is treated by injecting anti-inflammatory drugs, such as corticosteroids, into the affected areas or through pills, creams, and ointments. In addition, alopecia treatment is performed by immunotherapy or by applying minoxidil, which assist in hair growth. Furthermore, alopecia can be cured with natural treatments, acupuncture, and aromatherapy from the initial stages.
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Alopecia Treatment Market Trends and Drivers:
At present, the increasing incidence of alopecia among individuals due to changing lifestyles and food habits, rising stress levels, and hormonal imbalance represents one of the key factors driving the market. Besides this, there is an increase in the prevalence of chronic diseases, such as heart, respiratory, kidney and Alzheimer’s disease, cancer, stroke, injuries, diabetes, influenza and pneumonia, and septicemia, around the world. This, coupled with the growing geriatric population, is positively influencing the market. In addition, the increasing level of pollutants in the air is affecting the health of the masses worldwide, which is contributing to the growth of the market. Apart from this, there is a rise in the development of alopecia treatment methods, such as cytokine therapy, regenerative cell therapy, and combination therapy, to manage hair loss. This, along with the growing awareness among the masses about the benefits of advanced stem cell therapy, is offering a favorable market outlook. Additionally, governments of several countries are undertaking initiatives to build advanced hospitals, nursing homes, and clinics across the globe. In line with this, the burgeoning healthcare industry is propelling the growth of the market. Moreover, the rising adoption of light amplification by stimulated emission of radiation (laser) treatments using laser comb, caps, and helmets is strengthening the growth of the market. Furthermore, key market players are extensively investing in research and development (R&D) activities to introduce enhanced treatment methods and commercialize combination drugs for fast visible results, which is expected to bolster the growth of the market.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Aclaris Therapeutics Inc.
- Cellmid Limited
- Cipla Limited
- Reddy’s Laboratories Ltd.
- GlaxoSmithKline plc
- HCell Inc.
- Johnson & Johnson
- Merck & Co. Inc.
- Pfizer Inc.
- Taisho Pharmaceutical Holdings Co Ltd
- Teva Pharmaceutical Industries Ltd.
Alopecia Treatment Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on region, drug type, indication, gender, route of administration and distribution channel.
Breakup by Drug Type:
- Minoxidil
- Finasteride
- Others
Breakup by Indication:
- Androgenic Alopecia
- Alopecia Areata
- Alopecia Totalis
- Others
Breakup by Gender:
- Male
- Female
Breakup by Route of Administration:
- Oral
- Topical
- Injectable
Breakup by Distribution Channel:
- Hospitals
- Retail Pharmacies
- Online Pharmacies
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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