Alopecia - Global Market Outlook (2021-2028)

According to Stratistics MRC, the Global Alopecia Market is accounted for $3.45 billion in 2021 and is expected to reach $7.27 billion by 2028 growing at a CAGR of 11.2% during the forecast period. Alopecia is medical condition that brings to hair loss and baldness conclusively. Hair loss may happen in entire body orpatches on whole from a small area. Alopecia is caused due to autoimmune disorders such as vitiligo, thyroid and others.

Market Dynamics:

Driver:

Growing Prevalence of Hair Loss

According to data published by the Journal of Clinical and Diagnostic Research (JCDR), around 60% of the population has hair thinning problems and pattern hair loss is the most common form of hair loss in both males and females. Moreover, around 2% of the population is at risk of developing AA in their lifetime globally, irrespective of gender. Major buyers of the market are patients suffering from alopecia and dermatological clinics. For instance, according to the National Institute for Health and Care Excellence (NICE), U.K., in 2020, the estimated prevalence of alopecia in the U.K. was 15 per 10,000 people. It is known to affect people of all ages, but it is most common in childhood and adolescence. Peak incidence was observed between the ages of 15 and 29. Before the age of 21, 50-60% of men experience their first bald patch. The growing need for effective treatment of hair loss is leading to rising demand for well-designed clinical trials in alopecia and approved treatments. There is an urgent need to address the unmet clinical needs of alopecia and this, in turn, is accelerating the discovery of new molecules and drugs to treat and prevent hair loss. The rising popularity of cosmetic procedures due to the growing focus on improving aesthetic appearance is further boosting patients' interest in new and emerging treatment modalities, and this is expected to significantly contribute to the revenue growth of the market.

Restraint:

Side Effects

Many of the patients/participants who reported using corticosteroids as a treatment for alopecia said corticosteroids were frequently ineffective and had significant side effects. With these treatments, some participants reported temporary success in slowing or stopping the rate of hair loss. However, many of the participants had little or no response to corticosteroid use. Hence, corticosteroids were deemed 'ineffective' and 'not a viable treatment option' by the participants.

Opportunity:

Increasing Research and Development activities

The increasing number of clinical trials for the treatment of it is expected to aid in the growth of the global market over the forecast period. For instance, researchers from the University of Brazil conducted a randomized, placebo-controlled trial to assess the efficacy and safety of 0.5% minoxidil intradermal injections for the treatment of female androgenetic alopecia. The findings demonstrated that intradermal injections of minoxidil were more effective than placebo in the treatment of female androgenetic alopecia while also having a favorable safety profile.

Threat:

Reimbursement

Reimbursement remains one of the major threats in this market. Since most of the treatment modalities are considered as not medically essential and are categorized as cosmetic procedures, the treatment for hair loss is generally not covered under insurance plans. Out-of-pocket expenses for it treatment usually include prescription drug copays, frequent doctor visits, and co-insurance for procedures.

Dermatology Clinics segment is expected to be the largest during the forecast period

Modern treatment methods such as laser technology, a strong product pipeline, and heightened consumer awareness regarding the use of prescription medicines are the main factors responsible for the continued growth of the segment. Given the consulting dermatologist's ability to provide appropriate customized medications or therapy that yield effective results, they are often considered the preferred option for the treatment of alopecia.

The Androgenetic Alopecia segment is expected to have the highest CAGR during the forecast period

It is known as male-pattern hair loss (MPHL), androgenetic alopecia is generally associated with medical conditions such as obesity, diabetes, coronary heart disease, hypertension, and prostate cancer. An increasing number of hair transplantation procedures and the growing availability of advanced oral alopecia drugs and licensed topical treatments drive the revenue growth of this segment.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, due to an increase in penetration of alopecia products, rising disposable income, and rising consumer awareness. Moreover, improving the healthcare regulatory scenario in developing countries is expected to attract international players to invest and capitalize on the available market opportunities. For instance, in 2016, China regulatory authority, China Food, and Drug Administration, approved the iGrow laser system by Apira Science and became the first-ever laser-based hair growth device to be approved in China.

Region with highest CAGR:

North America is projected to have the highest CAGR, due to the presence of technologically advanced healthcare infrastructure, high disposable income, and availability of novel therapeutics options for the treatments. Accordingly, the high incidence and the equivalent high treatment rates concerning hair loss in the U.S. are high is one of the major drivers for the region. The growth is driven by high disease prevalence, rising consumer awareness, proactive government measures, and improvements in healthcare infrastructure. The presence of key players in this region is a key propeller of market growth. Moreover, increasing the adoption of laser-based therapy to treat alopecia is also increasing the treatment rate in the region.

Key players in the market:

Some of the key players profiled in the Alopecia Market include Cipla, Dr. Reddy's Laboratories Ltd, Merck & Co., Viviscal, Regaine, Ranbaxy Laboratories Ltd, Kirkland Signature, Lexington International LLC, Vitabiotics, Alpecin - Dr. Kurt Wolff GmbH & Co, Johnson and Johnson, GlaxoSmithKline PLC, Sun Pharmaceutical Industries Ltd.

Key developments:

In Sep 2021: Dr. Reddy's Laboratories launched the prescription drug Minoxidil topical solution USP 2% and 5% for the treatment of female pattern hair loss (FPHL). "Minoxidil topical solution become available as a first-line treatment option for FPHL in India. While Minoxidil topical solution has been approved in India for the treatment of alopecia in men (male pattern baldness), there are presently no other drugs approved for the treatment of FPHL in India.

In February 2021: Viviscal™ launched hair therapy line of mixable powders designed to nourish hair from the inside out. Viviscal Hair Therapy provides a balance of nutrients that help address women's specific lifestyle needs and help form the foundation for healthy, gorgeous hair.

In March 2017: Dr. Wolff launched Alpecin Sport Caffeine Shampoo CTX in Hong Kong. New Alpecin Sport Caffeine Shampoo energises "tired" hair roots. Dr. Wolff Research has been studying the effect of caffeine on hair for 15 years. The result is effective hair care products which prevent hair loss. The new Sport Caffeine Shampoo contains Caffeine and Taurine to ensure effective prevention

Route of Administrations Covered:

• Oral
• Topical
• Injectable

Types Covered:

• Medicine Product
• Shampoos and Conditioners

Drug Types Covered:

• Minoxidil
• Potassium Channel Openers
• Finasteride

Disease Types Covered:

• Alopecia Areata
• Alopecia Totalis
• Alopecia Universalis
• Androgenetic Alopecia
• Cicatricial Alopecia
• Traction Alopecia

Treatment Types Covered:

• Topical Minoxidil
• Anthralin Cream Or Ointment
• Topical Corticosteroids
• Topical Immunotherapy
• Oral Corticosteroids
• Alpha Reductase Inhibitors
• Immunosuppressant

Gender Types Covered:

• Male
• Female

Distribution Channels Covered:

• Hospitals
• Retail Pharmacies
• Online Pharmacies

Sales Channels Covered:

• Prescriptions
• OTC (Over-the-Counter)

End Users Covered:

• Dermatology Clinics
• Homecare Setting

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances