Global Alopecia Hair Loss Treatment Market-Alopecia areata type segment estimated to be valued at US$ 1,039.9 Mn in 2016
1. Rising disposable income across all Asians countries is expected to spur the demand for effective hair loss treatment medications and procedures.
2. Rising disposable income spurring demand for higher margin medications and treatment procedures:
Rising living standard and increasing disposable income in China is boosting demand for effective and popular hair loss treatments. Young consumers in China increasingly opt for segmented and functional products rather than standard ones.
3. Healthy economic growth in Asia Pacific expected to drive demand for hair loss treatment.
4. Increasing prevalence of chemotherapy-induced alopecia is expected to prompt manufacturers to launch effective hair loss treatment regimes.
5. Rising global demand for effective hair loss treatment medications.
6. Increasing prevalence of chemotherapy induced alopecia:
Cancer is a leading cause of mortality worldwide and affects millions of people. According to the Australian Institute of Health and Welfare, the total number of cancer cases diagnosed in Australia were 120,710 in 2012.
Hair loss is a psychologically devastating effect of chemotherapy in cancer treatment patients – and for some individuals it results in total hair loss – and impacts an individual’s perception of appearance, body image, sexuality, and self-esteem to a great extent.
7. Cytokines are expected to emerge as an effective hair loss treatment therapy in many Asian countries.
8. Combination hair loss treatment therapies are gaining popularity in recent years.
9. Hair care centers are focusing on expanding their target market in order to boost sales:
Rising consumer emphasis on physical appearance has led hair care centers to widen their sales by focusing on high growth markets, including the hair loss treatment market.
Advertising strategies for hair care by hair care centers vary according to their targeted audience.
For example, a highly differentiated hair salons can do well to place an advertisement in mediums such as news papers and magazine, and on television.
10. Major focus on developing effective and reliable hair loss solutions is expected to drive the alopecia treatment market.
11. Cosmeceutical and pharmaceuticals manufacturers focusing on expanding their hair treatment and scalp treatment product lines:
In order to cater to growing demand of consumer-driven efficacy hair loss treatments and products, various majors in cosmeceuticals and pharmaceuticals industries are focusing on expanding their product line in the hair loss treatment market.
Key competitors in the market, covered in terms of manufacturers, include Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Johnson & Johnson, Inc., Dr. Reddy’s Laboratories Ltd., Cipla Ltd., Cellmid Ltd., The Himalaya Drug Company, Taisho Pharmaceutical Holdings Co., Ltd, Shiseido Co., Ltd., and Zhangguang 101 Science & Technology Co., Ltd.
Alopecia Hair Loss Treatment Market Restraints —
1. Limited efficacy of topical hair loss therapies is expected to hamper overall market growth over the forecast period.
2. Patent cliff resulting in loss of market exclusivity for some brand name drugs.
3. Limited efficacy of existing hair loss treatment drugs:
Lack of evidences suggesting clinical efficacy of available hair loss drugs is hampering overall market growth across all countries in Asia Pacific region. This factor could hamper market share and revenue growth of established products as consumers are becoming more aware about clinical efficacies of products and sustainability of treatment effectiveness.
4. Side effects associated with main hair loss treatments is expected to affect the overall adoption rate of hair loss treatment medications.
5. Lack of reimbursement facilities for hair loss treatments services, such as laser treatments.
6. Side -effects of the main treatments could affect brand image, thus deterring future revenue flows:
In March 2015, consumer-rights law firm Hagens Berman filed a lawsuit, alleging hair loss drug Propecia, which contain the active ingredient Finasteride, manufactured by Merck and Co Inc., induces serious side effects, resultingin depression,followed by suicide ideation.
Alopecia Hair Loss Treatment Market Opportunity —
1. Growing prevalence of and rogenetic alopecia is expected to drive the demand for effective hair loss therapies.
2. In South Korea, prevalence of AGA is 14.1% and increasing gradually with advancing age.
3. Increasing focus on developing advanced hair loss solutions such as stem cell therapy is expected to create further market growth opportunity over the forecast years.
4. Hair follicle regeneration and gene therapy are therapies recently introduced in the market.