Alopecia Areata Global Market Report 2024

Alopecia areata, commonly known as spot baldness, is an autoimmune disorder in which the immune system mistakenly targets hair follicles, leading to hair loss and the formation of patchy bald spots on the scalp, each resembling the size of a coin. This non-scarring condition can occur at any age and is characterized by the sudden onset of hair loss, resulting in small, soft, and hairless patches.

The primary types of alopecia areata include patchy alopecia areata, alopecia totalis, alopecia universalis, diffuse alopecia areata, ophiasis alopecia, and others. Patchy alopecia areata manifests as small circular patches of hair loss on the scalp or other areas of the body. Various treatments are available, encompassing medical and natural approaches. Diagnosis can be achieved through techniques such as trichoscopy, skin biopsy, and other diagnostic methods. Treatments may be administered through various routes, including oral, topical, parenteral, among others, and are utilized by diverse end-users, including hospitals, specialty clinics, homecare, and others.

The alopecia areata market research report is one of a series of new reports from The Business Research Company that provides alopecia areata market statistics, including alopecia areata industry global market size, regional shares, competitors with a alopecia areata market share, detailed alopecia areata market segments, market trends and opportunities, and any further data you may need to thrive in the alopecia areata industry. This alopecia areata market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The alopecia areata market size has grown strongly in recent years. It will grow from $3.31 billion in 2023 to $3.55 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed in the historical period in the context of alopecia areata can be attributed to several factors. These include the limited treatment options available, advancements in the field of immunology, increased awareness of the disease, ongoing clinical trials and developments in drug therapy, and a growing recognition of the psychosocial impact associated with alopecia areata. These factors collectively contributed to the expansion and advancement of approaches to address alopecia areata during the specified historical timeframe.

The alopecia areata market size is expected to see strong growth in the next few years. It will grow to $4.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period for alopecia areata is expected to be driven by various factors. These include the development of biologic therapies, the adoption of precision medicine approaches, advancements in immunotherapy, the integration of artificial intelligence (AI) in drug discovery, and increased global initiatives and funding. Key trends expected during this period include advancements in topical immunotherapy, the exploration of combination therapies, the incorporation of telemedicine in dermatology, a focus on patient-centric care, and the establishment of regulatory pathways for novel therapies. These trends collectively contribute to the evolving landscape of alopecia areata treatment and research.

The prevalence of hair loss is anticipated to be a driving force behind the expansion of the alopecia areata market. Hair loss occurs due to disruptions in the body's natural hair growth cycle. Treatment for alopecia areata involves the use of corticosteroids, potent anti-inflammatory medications that can suppress the immune system, to address the condition wherein the immune system attacks hair follicles, leading to hair loss. For instance, as reported by the Hair Society in March 2022, approximately 21 million women and 35 million men globally experienced hair loss. Hair loss typically begins around age 35, affecting the majority of individuals, with a 40% hair loss rate for males, escalating to 70% by age 80. Women, experiencing hair loss, comprise 80% or more by the age of 60. Hence, the escalating prevalence of hair loss is steering the growth of the alopecia areata market.

The increased occurrence of alopecia stands poised to fuel the expansion of the alopecia areata market. Alopecia encompasses the partial or complete loss of hair, predominantly from the scalp but potentially affecting other body areas. Alopecia can manifest in various forms, from mild, temporary hair thinning to severe and permanent hair loss. For instance, as indicated by an article published by the U.S. Department of Health and Human Services in July 2023, more than 50 million men and 30 million women are estimated to grapple with androgenetic alopecia in the U.S. annually. Consequently, the rising incidence of alopecia is propelling the growth trajectory of the alopecia areata market.

The approval of innovative drugs stands out as a significant trend gaining momentum. Major industry players are actively pursuing new drug approvals to fortify their market presence and secure a competitive edge. For instance, in June 2023, Pfizer Inc., a US-based biotechnology and pharmaceutical company, unveiled the US Food and Drug Administration (FDA) approval for LITFULO (ritlecitinib), marking the first and sole treatment approved for severe alopecia areata in patients as young as 12. This oral treatment, administered once daily, addresses alopecia areata, an autoimmune condition previously lacking FDA-endorsed treatments for teenagers and offering limited options for adults. LITFULO operates as a kinase inhibitor, targeting Janus kinase 3 (JAK3) and the tyrosine kinase family of kinases found in hepatocellular carcinoma (TEC).

Strategic partnerships represent another prominent trend gaining traction within the alopecia areata market. Leading companies in this sector are actively forging alliances to fortify their market standings. For instance, in February 2023, UMass Chan Medical School, a US-based public medical school, licensed a siRNA technology for dermatological diseases developed by RNA therapeutics to Aldena Therapeutics for clinical development. These siRNA-based therapeutics hold promise in addressing various skin conditions, including alopecia areata, atopic dermatitis, and vitiligo through localized treatments such as intradermal injection or topical, transepidermal applications. The agreement stems from an ongoing sponsored research agreement between the institutions, aiming to develop siRNA constructs targeting a wide array of molecular targets for diverse dermatological indications. Aldena Therapeutics, a Switzerland-based biotech firm, aims to deliver advanced, long-lasting treatments for dermatological diseases.

In March 2023, Sun Pharmaceutical Industries Limited, a prominent pharmaceutical company based in India, successfully acquired Concert Pharmaceuticals for a total of $576 million. This strategic acquisition is aimed at expanding Sun Pharma's presence within the Boston biotech cluster. Additionally, the acquisition includes deuruxolitinib, a late-stage therapeutic candidate with the potential to be a best-in-class treatment for alopecia areata, thereby enhancing Sun Pharma's growing global dermatology portfolio. Concert Pharmaceuticals, the acquired company, is a US-based late-stage clinical biopharmaceutical firm specializing in the development of products for the treatment of alopecia areata.

Major companies operating in the alopecia areata market report are Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Novartis AG, Bristol-Myers Squibb Company, Sanofi S.A., GlaxoSmithKline plc., Eli Lilly and Co Ltd., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Perrigo Company plc, Bausch Health Companies Inc., Incyte Corporation, Dr. Reddy's Laboratories Ltd., Cipla Ltd., Taisho Pharmaceutical Holdings Co. Ltd., Lupin Ltd., Glenmark Pharmaceuticals Ltd., Almirall S.A., Torrent Pharmaceuticals Ltd., Ranbaxy Laboratories Limited, Taro Pharmaceutical Industries Ltd., G&W Laboratories Inc., Vanda Pharmaceuticals Inc., Aclaris Therapeutics Inc., BioSplice Therapeutics Inc., XBiotech Inc., PureTech Health plc, HCell Inc., Histogen Inc.

North America was the largest region in the alopecia areata market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the alopecia areata market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the alopecia areata market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The alopecia areata market consists of revenues earned by entities by providing combination therapy, topical immunotherapy, photochemotherapy, and aromatherapy. The market value includes the value of related goods sold by the service provider or included within the service offering. The alopecia areata market also includes sales of glucocorticoids, vasodilators, immunomodulators, and Janus kinase inhibitors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Alopecia Areata Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on alopecia areata market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for alopecia areata ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The alopecia areata market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Patchy Alopecia Areata; Alopecia Totalis; Alopecia Universalis; Diffuse Alopecia Areata; Ophiasis Alopecia; Other Types
• 2) By Treatment: Medical Treatments; Natural Treatment; Other Treatments
• 3) By Diagnosis: Trichoscopy; Skin Biopsy; Other Diagnoses
• 4) By Route Of Administration: Oral; Topical; Parenteral; Other Routes Of Administration
• 5) By End-Users: Hospitals; Specialty Clinics; Homecare; Other End-Users
• Companies Mentioned: Pfizer Inc.; Merck & Co. Inc.; AbbVie Inc.; Novartis AG; Bristol-Myers Squibb Company
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.