Global Alopecia Treatment Market and Market Insights

Global Alopecia Treatment Market and Market Insights

Alopecia is the condition described for excessive hair damage or hair loss. Alopecia treatment plays a major role in advanced healthcare, as it aids in the prevention of hair fall and regrowth of hair. The unhealthy lifestyle, ageing, and hormonal imbalance are some of the factors leading to alopecia condition.

The global alopecia treatment market size was valued at US$ 7,325.0 million in 2017 and is expected to exhibit a CAGR of 4.9% over the forecast period (2018 and 2026).

Increasing product approvals, product launches, and robust pipelines are expected to propel the market growth

Rising product launch and robust pipelines are expected to drive the global alopecia treatment market. For instance, in November 2018, Fidia Pharma launched Trinov hair growth lotion for hair growth in Italy.

Furthermore, in September 2018, Eli Lilly and Company initiated phase 2 clinical trial to assess the safety and efficacy of Baricitinib drug in treating patients with alopecia areata.

The study is estimated to complete in August 2022.

Rising initiatives such as crowdfunding campaigns and increasing collaboration by the market players are expected to bolster the market growth. For instance, in 2018, HairClone, a U.K. based company working on cellular hair restoration therapies, launched its public crowdfunding campaign.

The company collaborated with Capital Cell, a crowdfunding company. Similarly, in May 2013, RepliCel Life Sciences Inc. and Shiseido Company, Limited announced collaboration and technology development transfer framework agreement for RepliCel’s RCH-01 hair regeneration technology.

Increasing prevalence of Alopecia Areata and higher focus on advancing research in North America are expected to bolster the market growth

North America holds a dominant position in the global alopecia treatment market, owing to the increasing prevalence of Alopecia Areata and active research activities by market players. For instance, according to the National Alopecia Areata Foundation (NAAF), 2017, alopecia areata affects around 6.8 million people in the U.S. with a lifetime risk of 2.1%.

Moreover, the NAAF is focused on broadening research efforts through two committees, including the Basic Research Advisory Council (BRAC), and the Clinical Research Advisory Council (CRAC), in order to advance the Alopecia Areata Treatment Development Program

Increasing acquisition strategies in the region by the market players are major factor expected to propel the market growth. For instance, in August 2017, Aclaris Therapeutics, Inc. acquired Confluence Life Sciences, Inc., which expanded Aclaris inflammation and immunology pipeline with the addition of Confluence lead product candidates CDD-450, topical Janus kinase inhibitors, and IL2-inducible T-cell kinase inhibitor programs.

Moreover, a collaboration of market players with regulatory authorities as well as other government organizations is further expected to support growth of the North America alopecia treatment market over the forecast period.

For instance, in April 2019, Precision Therapeutics Inc., Helomics, and the National Alopecia Areata Foundation (NAAF), entered into an agreement to treat people affected by an autoimmune skin disease called alopecia areata.

The agreement was intended to provide a next-generation patient registry to drive research on new treatments for people with this disease.

Key Players

Major players operating in the global alopecia treatment market include Histogen Inc., Cipla Limited, Aclaris Therapeutics, Inc., Concert Pharmaceuticals, Inc., Merck & Co., Inc., Daiichi Sankyo Company, Limited, and Sun Pharmaceutical Industries Ltd.

Global Alopecia Treatment Market and Market Insights

Source

Previous Posts

Posted in: