Global Hair Loss Treatment Products Market: Introduction
Baldness generally refers to excessive hair loss from a person’s scalp. Hereditary hair loss with age is considered to be the most common cause of baldness. Some people prefer to let their hair loss run its course unhidden and untreated. There are various causes of hair fall, and various treatments for hair fall. Hair loss treatment products prevent further hair loss and restore growth.
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Key Drivers of Global Hair Loss Treatment Products Market
Changing patterns of lifestyle, increasing stress levels due to adoption of hectic schedules which thereby results in frequent hair loss at an earlier age among the young population, increasing disposable income, and increasing emphasis on appearance, are the major factors driving the hair loss treatment market
Causes of hair loss such as heredity, extreme stress, or shock to the body, toxic substances including chemotherapy, radiation therapy, some medications, and medical conditions boost the growth of the global hair loss treatment products market
According to MedlinePlus, both men and women tend to lose hair thickness as they age. This type of baldness is not usually caused by a disease. It is related to aging, heredity, and changes in the testosterone hormone. Inherited or pattern baldness affects more men than women. About 80% of men show signs of male pattern baldness by age 70.
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Rising demand for hair loss treatment products, increasing patient population, rise in research and developmental activities in health care, rising geriatric population, and increasing adoption of hair care products are key factors boosting the global hair loss treatment products market
However, the presence of various alternate treatment options for hair loss, including laser hair therapy, hair transplant surgery, and light-based therapies are anticipated to restrain the global hair loss treatment products market during the forecast period
Strategies Adopted by Key Players to Offer Attractive Opportunities
Companies operating in the global hair loss treatment products market are focused on catering to the needs of the medical community as well as patient pool by introducing new products and technologies. Leading players emphasize on research and developmental activities and engage in acquisitions, mergers, and collaborations to strengthen their position in the global market.
For instance, in November 2019, Exicure, Inc., a pioneer in gene regulatory and immunotherapeutic drugs utilizing spherical nucleic acid (SNA) technology, announced that Allergan’s wholly owned subsidiary, Allergan Pharmaceuticals International Limited, and Exicure, Inc. have entered into a global collaboration agreement to discover and develop novel treatments for hair loss disorders based on Exicure’s proprietary SNA technology.
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In May 2018, Histogen, Inc., a regenerative medicine company focused on stimulating the body’s stem cells to regenerate tissues and restore youthful function, received approval of its Investigational New Drug (IND) application from the US Food and Drug Administration (FDA) to study its lead product in female diffuse hair loss.
In March 2016, Aclaris Therapeutics, Inc., a clinical stage specialty pharmaceutical company, announced that it has entered into an agreement with the stockholders of Vixen Pharmaceuticals, Inc. (Vixen) to acquire all of the stock of Vixen. As a result of this transaction, Aclaris acquired worldwide rights to intellectual property licensed to Vixen by Columbia University, covering the use of certain Janus Kinase (JAK) inhibitor compounds for the treatment of alopecia areata, androgenetic alopecia, and other dermatological conditions.
Developing economies present lucrative opportunities to the global hair loss treatment products market, owing to extensive changes in lifestyle patterns, increase in patient population, rising geriatric population, surge in the prevalence of hair loss conditions, and rise in research and development activities in these economies
North America to Account for a Major Share of Global Hair Loss Treatment Products Market
North America is projected to account for a leading share of the global hair loss treatment products market during the forecast period, due to rise in patient population, increasing changes in lifestyle, rise in hair loss, increasing aging population, increase in research & development activities, availability of well-established health care infrastructure, continuous technological advancements, rise in the number of well-equipped laboratories, and presence of key players in the region. The hair loss treatment products market in Asia Pacific is projected to expand at a rapid pace during the forecast period, due to increasing prevalence of hair loss, growing geriatric population, rising patient population, increasing awareness, expanding health care sector, and rising interest of key players in expanding their presence in the market in the region.
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Key Players Operating in Global Hair Loss Treatment Products Market
Leading players in the global hair loss treatment products market are focusing on research and development activities and technological advancements. Their competitors are also emphasizing on various growth strategies including mergers, acquisitions, product advancements, new product approvals and launches, partnerships, and collaborations. Leading players operating in the global hair loss treatment products market are:
- Sun Pharmaceutical Industries Ltd.
- Aclaris Therapeutics, Inc.
- Concert Pharmaceuticals
- Daiichi Sankyo Company, Limited
- GlaxoSmithKline plc.
- HCell Inc.
- Histogen Inc.
- Merck & Co., Inc.
- Johnson & Johnson Services, Inc.
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