Global Alopecia Treatment Market – Market Insights
Alopecia is the condition described for excessive hair damage or hair loss. Alopecia treatment plays a major role in advanced healthcare, as it aids in prevention of hair fall and regrowth of hair. Unhealthy lifestyle, ageing, and hormonal imbalance are some of the factors that leads to alopecia condition.
The global alopecia treatment market was valued at US$ 7,325.0 million in 2017, and is expected to exhibit a CAGR of 4.9% over the forecast period (2018-2026).
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Figure 1. Global Alopecia Treatment Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2019)
Increasing product approvals, product launches, and robust pipelines are expected to propel the market growth
Rising product launches and robust pipelines are expected to drive global alopecia treatment market growth over the forecast period. For instance, in November 2018, Fidia Pharma launched Trinov hair growth lotion for hair growth in Italy. Furthermore, in September 2018, Eli Lilly and Company initiated phase 2 clinical trial to assess safety and efficacy of Baricitinib drug in treating patients with alopecia areata. The study is estimated to complete in August 2022.
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Rising initiatives such as crowdfunding campaigns and increasing collaboration by market players are expected to bolster the market growth. For instance, in 2018, HairClone, a U.K.-based company working on cellular hair restoration therapies, launched its public crowdfunding campaign. The company entered into a collaboration with Capital Cell, a crowdfunding company. Moreover, in May 2013, RepliCel Life Sciences Inc. and Shiseido Company, Limited announced collaboration and technology development transfer framework agreement for RepliCel’s RCH-01 hair regeneration technology.
Figure 2. Global Alopecia Treatment Market Share (%), by Disease Type, 2018 and 2026
Source: Coherent Market Insights Analysis (2019)
Increasing prevalence of Alopecia Areata and higher focus on advancing research in the North America are expected to bolster the market growth
North America is expected to hold dominant position in the global alopecia treatment market, owing to increasing prevalence of Alopecia Areata and active research activities by market players. For instance, according to the National Alopecia Areata Foundation (NAAF), 2017, alopecia areata affects around 6.8 million people in the U.S. with a lifetime risk of 2.1%. Moreover, the NAAF is focused on broadening research efforts through two committees, including the Basic Research Advisory Council (BRAC), and the Clinical Research Advisory Council (CRAC), in order to advance the Alopecia Areata Treatment Development Program.
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Increasing acquisition strategies in the region by market players are expected to propel the market growth. For instance, in August 2017, Aclaris Therapeutics, Inc. acquired Confluence Life Sciences, Inc., which expanded Aclaris’ inflammation and immunology pipeline with the addition of Confluence’s lead product candidates CDD-450, topical Janus kinase inhibitors, and IL2-inducible T-cell kinase inhibitor programs.
Moreover, collaboration of market players with regulatory authorities as well as other government organizations is further expected to support growth of the North America alopecia treatment market over the forecast period. For instance in April, 2019, Precision Therapeutics Inc., Helomics, and the National Alopecia Areata Foundation (NAAF), entered into an agreement to treat people affected by an autoimmune skin disease called alopecia areata. The agreement was intended to provide a next-generation patient registry to drive research on new treatments for people with this disease.
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Key Players
Major players operating in the global alopecia treatment market include Histogen Inc., Cipla Limited, Aclaris Therapeutics, Inc., Concert Pharmaceuticals, Inc., Merck & Co., Inc., Daiichi Sankyo Company, Limited, and Sun Pharmaceutical Industries Ltd.
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