Alopecia Market Size And Forecast
Alopecia Market was valued at USD 2.68 Billion in 2020 and is projected to reach USD 4.89 Billion by 2028, growing at a CAGR of 7.9% from 2021 to 2028.
Changing lifestyle ad rising prevalence of androgenic and areata alopecia across the globe is primary factors for driving growth of Global Alopecia Market. Also, the rise in disposable income of the people and growing awareness regarding alopecia treatment is fueling the growth of Global Alopecia Market. The Global Alopecia Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Alopecia Market Definition
Alopecia areata is also called as spot baldness. It is a medical condition in which hair is lost from some or all areas of the body. Often it results in few bald spots on the scalp of the people. Generally size of spot is of coin. In few cases all the hair on the scalp or the body may lose for permanent.
Alopecia areata can be considered as an autoimmune disorder resulting from a breach in the immune privilege of the hair follicles. Risk factor for alopecia areata includes family history of the same medical condition. The mechanism involves failure by the body to recognize its own cells due to destruction of the hair follicle.
Till now there is no cure for the condition but some medications are tried for regrowth such as cortisone injection, sunscreen to protect the area being affected from cold and sun, glass if incase eyelashes has affected or missing. Another type alopecia andrgenetic which is common in the gender, in men such condition is also recognized as male-pattern baldness.
In this case hair is lost in well-defined manner. After some time hairline foam characteristic ‘M’ which is often progressing to the partial or complete baldness.in case of female it is different condition then male. In women, hair becomes thinner than normal from all over the head and often it further leads to total baldness. Androgenetic alopecia in men’s is resulted from some medical conditions such as coronary heart disease, enlargement of prostate, hypertension and many others.
Global Alopecia Market Overview
Changing lifestyle such as immoderate intake of alcohol and tobacco, and growing stress indices among the people are considered as major factor for rising prevalence of alopecia. Though the epidemiology of the disease is unknown, the genetic factor is considered as a one of the cause and linked to several cases of alopecia. In addition, rise in disposal income of the people and building emphasis on aesthetics are poised to drive the market growth of alopecia product.
Furthermore, aging and anomalies also boosting demand for alopecia treatment. Ender also plays important role in disease susceptibility. As per American Hair Loss Association, around 95% of the hair loss in men is due to androgenic alopecia and awareness among consumers is fueling the growth of Global Alopecia Market.
Moreover, rising prevalence of chronic disorders such as Polycystic Ovary Disease (PCOD), hyperthyroidism, acute stress disorder, hypothyroidism, cancer, lupus, and hypopituitarism are influencing the Global Alopecia Market.
New drug and technologies developments in the field such as emergence of rapid-action JAK inhibitors and hair growth stimulation through PRP treatment and pluripotent stem cells are accelerating the growth of Global Alopecia Market. However, high cost of treatment and lack of awareness in underdeveloped countries are anticipated to restrict the growth of Global Alopecia Market. Nevertheless, launch of new products and technologies are expected to generate new opportunities for the Global Alopecia Market during forecasted period.
Global Alopecia Market Segmentation Analysis
Global Alopecia Market is segmented based on Disease Type, Sales Channel, Gender, End-User, And Geography.
Alopecia Market, By Disease Type
• Alopecia areata
• Androgenetic alopecia
Based on Disease Type, Alopecia Market is segmented as Alopecia areata, Androgenetic alopecia and others. Alopecia areata sement is expected to hold largest share in the Alopecia Market. The growth is contributed to the high disease prevalence across the globe and increasing consumer awareness regarding treatments. Also, alopecia is most prevalent in the people who are suffering from autoimmune disorders. Androgenetic alopecia segment is expected to grow at fastest pace due to launch of multiple promising pipeline candidates and significant growth in the incidence rate.
Alopecia Market, By Sales Channel
Based on Sales Channel, Alopecia Market is bifurcated into OTC and Prescriptions. Among these two segments, Prescriptions segment is expected to hold largest share in the alopecia market by sales channels. Various factors that are driving the growth of segments are cost effective treatment, easy accessibility of therapies and increasing number of approvals for medications.
Alopecia Market, By Gender
Based on Gender, Alopecia Market is bifurcated into Male and Female. Among these two segments, male segment are dominating the Alopecia Market, By Gender as androgen is leading cause of androgenic alopecia in men also, and increasing geriatric population across the globe and increasing tobacco intake by people are fueling the growth of male segment.
Alopecia Market, By End-User
• Homecare setting
• Dermatology clinics
Based on End-User, Alopecia Market is bifurcated into Homecare setting and Dermatology clinics. Among these two, Dermatology clinics segment is dominating the market. The growth is attributed to the increasing number of hair transplantation, and restoration surgeries. Homecare settings segment is also growing due to broadening penetration of laser treatment and rise in regulatory sanctions of homecare products.
Alopecia Market, By Geography
- North America
- Asia Pacific
- Rest of the world
On the basis of Geography, the Global Alopecia Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America is expected to hold largest market share due to growing advancement in the technology, novel product development and increasing disposal income of the people in the region is fueling the growth of alopecia market in the region. Asia-Pacific is expected to grow at fastest pace over the next few years. Large population base and growing consumer awareness regarding treatments are expected to boost the growth of alopecia market in the region.
Key Players in Alopecia Market
The “Global Alopecia Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Sun Pharmaceutical Industries Ltd., Merck & Co., Inc., Cipla Inc., Johnson and Johnson AG, Lexington International LLC, Transitions Hair Pty Ltd., Cirrus Hair Centers, Vita-Cos-Med Klett-Loch GmbH, Capillus, and Follica, Inc.
Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Alopecia Market Size And Forecast
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