The report, titled “Global Alopecia Drugs Market 2016-2020,” states that the market will exhibit a healthy 5% CAGR over the period between 2016 and 2020. The rising popularity of over-the-counter and off-label drugs will be the key factors driving the market over the said period.
The report segments the global alopecia drugs market on the basis of three broad criteria: route of administration, gender of target consumer, and geography.
On the basis of route of administration, the market has been segmented into oral alopecia drugs, injectable alopecia drugs, and topical alopecia drugs. Of these, the segment of topical drugs accounted for the dominant share in the global market in 2015 and is expected to retain dominance over the forecast period as well. The easy and rising availability of new drugs, such as AVODART, will continue to fuel the demand for topical alopecia drugs in the near future.
On the basis of gender of the target consumer, the market is dominated by the men segment. In 2015, alopecia drugs especially formulated for men contributed the most significant share in revenue to the global market. This segment will continue to rake in the dominant share in revenues for the global market over the forecast period as well. The report states that British men are more prone to be affected by the disorder, making the region one of the crucial high-growth market for alopecia drugs. Also, Propecia being the only approved drug for treating alopecia in men, the sales of this drug are expected to substantially increase in the near future.
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In terms of geography, the market is dominated by the Americas, which accounted for the maximum share in the global alopecia drugs market in 2015. The U.S. presented lucrative growth opportunities for the market and emerged as the largest contributor to the revenue of the regional market in the said year.
Over the forecast period as well, the Americas is expected to hold the dominant position in the global market, chiefly owing to the rising awareness regarding the condition and availability of effective treatment options. Furthermore, the changing and busy lifestyles of the population are leading to hormonal imbalances resulting from physical inactivity, rising consumption of junk food, and increased levels of stress. As a result, the prevalence of alopecia is on a significant rise in the Americas, expected to fuel the demand for alopecia drugs.
Some of the key vendors operating in the global alopecia drugs market are GlaxoSmithKline, Merck, Johnson & Johnson, NovaLead Pharma, AndroScience, Aclaris Therapeutics, Concert Pharmaceuticals, Helix BioMedix, Hygeia Therapeutics, Hyundai Pharm, Oculus Innovative Sciences, Foamix, Astellas Pharma, Polichem, Ranbaxy Laboratories, Reckitt Benckiser, Teva Pharmaceutical, and F. Hoffmann-La Roche.
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