Alopecia Market accounted 2.8 billion USD in 2020 and is predicted to reach 7 billion USD by 2030 with a CAGR of 9.4% during the forecast timeframe.Alopecia refers to hair loss from parts of the head or body regardless of any age group across the genders. Various factors like sedentary lifestyles, unhealthy eating habits, growing stress levels, hormonal imbalance, hypertension, and depression attribute to alopecia but the actual causative reason is still unknown. Furthermore, aging and chronic disorders also lead to alopecia. The above mentioned factors are the key drivers responsible for the growth of the alopecia treatment market. The number of people seeking alopecia treatment is very high in developing countries and is growing in emerging economies.

Market Segmentation:

On the basis of disease type, the market can be classified into alopecia areata, cicatricial alopecia, traction alopecia, alopecia totalis, alopecia universalis, androgenetic alopecia, and others. Based on treatment type, the market is segmented into oral hair loss treatment, topical hair loss treatment, and others. Oral hair loss treatment is further bifurcated into finasteride and other oral hair loss treatments. Topical hair loss treatment is further segmented into minoxidil and shampoos. According to end-users, the alopecia market is segregated into dermatology clinics and homecare settings. By distribution channel, the market is categorised into prescription drugs and over the counter (OTC) drugs. Geographically, the market can be broadly divided into five regions mainly North America, Europe, Asia Pacific, and ROW.

Market Dynamics and Factors:

Rapid industrialisation in developed and developing countries has resulted in a surge in the working class population across the globe. This has led to changing lifestyles, increase in stress levels, hypertension, and depression, all of which attribute to hair loss. This is a major factor driving the growth of the alopecia market. For instance, according to the National Alopecia Areata Foundation, around 147 million people worldwide are affected by alopecia areata. Furthermore, the increasing geriatric population affected by hair loss due to age is contributing to the demand for alopecia treatment across the globe. High disposable income of people and growing awareness about alopecia treatment is influencing people for opting for the treatment and hence augmenting the market growth. Technological advancements and new product development are going to further enhance the market growth of alopecia treatment in the coming future. For instance, the introduction rapidly acting JAK inhibitors approved by U.S Food & Drug Administration to stimulate hair growth in men. However, certain factors like low reimbursement coverage for alopecia treatment and out of pocket costs for the disease treatment are restraining the market growth of alopecia treatment.

Geographic Analysis:

North America is expected to dominate the market in terms of market share during the forecast period. A large geriatric population resulting in high prevalence of alopecia; high disposable income; and technological advancements leading to new product development are the major factors attributing to the market dominance of the region. For instance, according to the U.S National Library of Medicine, Alopecia effects 1 in every 500 to 1000 people in the U.S. The Asia Pacific region is anticipated to witness maximum growth during the forecast period. High prevalence of alopecia; growing awareness regarding therapeutic options; economic development; and improving healthcare infrastructure are the major factors attributing to the market growth in the APAC region.

Competitive Scenario:

The key players operating in the market are –

Johnson & Johnson, Alpecin, GlaxoSmithKline, Merck & Co., Cipla, Sun Pharmaceuticals, Daiichi Sankyo, Dr Reddy’s Laboratories, Kirkland Signature, Vitabiotics.     

Alopecia Market Report Scope