The global alopecia treatment market size isestimated to reach USD 13,454.16 million by 2027 on account of the increasing number of hair loss cases in people irrespective of gender and age.Alopecia areata is a medical condition that results in hair loss in patches for both males and females. The immune system of the body attacks the hair follicles and ultimately results in loss of hair on the scalp, eyebrows, eyelashes, and face. According to a recent report by Fortune Business Insights titled, “Alopecia Treatment Market Size, Share & Industry Analysis, By Route of Administration (Topical, Injectable, Oral), By Gender Type (Male, Female), By Age Group (Below 18 years, 18 – 34 Years, 35 – 49 Years, Above 50 Years), By End User (Hospitals and Physician Offices, Dermatology Clinics, Others) and Regional Forecast, 2020-2027,” the market value stood at USD 8,894.78 million in 2019 and is anticipated to rise at a CAGR of 5.2% between 2020 to 2027.
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Major Industry Developments of the Market include:
- March 2020 – Clinical study of the one-time injection called RCH-01 for androgenic alopecia was announced to be successful in Japan by RepliCel Life Sciences Inc.
- July 2019 – Successful Phase 2 clinical trial of ATI-501 oral was announced by Aclaris Therapeutics for patients with alopecia areata.
List of Alopecia Treatment Market Manufacturers include:
- Follicum AB
- Concert Pharmaceuticals Inc.
- Daiichi Sankyo
- Johnson & Johnson
- Merck & Co., Inc.,
- Aclaris Therapeutics, Inc.
- Sun Pharmaceutical Industries Ltd.
- Cipla Inc.
- GlaxoSmithKline plc.
- Other Players
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Massive Investments on Clinicals will Augment Growth
Various factors are responsible for the alopecia treatment of market growth. These include increasing adoption of a sedentary lifestyle, binge eating habits, cigarette consumption, and others that ultimately weaken the immune system. In addition to this, there is heavy investment in hair transplantation systems, and thiswill also add impetus to the market in the forecast period.
On the flipside, factors such as the side effects associated with this treatment procedure such as ejaculation disorders, impotency, enlargement or tenderness of breasts, and testicular pain may pose a major hindrance to the market in the coming years. Nevertheless, increasing investments in research and clinical trials are likely to create lucrative growth opportunities for the market in the coming years.
Heavy Investments on Clinical Study will Bode Well for Players
The global market for alopecia treatment is fragmented in nature on account of the presence of many companies. Players offer a variety of alopecia product portfolios including restorative hair treatment, scalp injectables, and topical and oral treatment. Heavy investments are made on clinical research and development for innovative product launches.The industry share for this market has remained low in the past few years and is further expected to remain stagnant in the forthcoming years.
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The Middle East and Africa Market to Witness Remarkable Growth with Rising Medical Tourism
Asia Pacific earned a revenue of USD 3,114.14 million in 2019 and emerged dominant. This is attributed to the rising prevalence of alopecia in the region. Various studies state that the increasing population and adoption of a sedentary lifestyle will add impetus to the market in this region. This, coupled with the rising consumption of tobacco may lead to weaker immune systems and increase stress level, thereby leading to hairfall. Additionally, the aggressive regional penetration and the increasing number of hair treatment companies setting up bases will further help this region continue earning the largest alopecia treatment market share in the coming years.
On the other side, the market in the Middle East and Africa is expected to witness significant growth in the coming years on account of the rising number of hair procedures to keep at par with the aesthetic beauty standards. This, coupled with tremendous growth potential from the UAE and Saudi Arabia, attributed to rising medical tourism will also help this market grow remarkably.
Reasons to Purchase this Report:
- Comprehensive analysis of the Alopecia Treatment Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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TABLE OF CONTENTS:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Recent Industry Developments Such as Mergers & Acquisitions
- Insights on Funding Scenario Pertaining to Research and Development of Alopecia Drugs
- Product Pipeline Analysis
- Industry Background Pertaining to Alopecia Treatment Solutions
- Key Industry Trends
- New Product Launch
- Global Alopecia Treatment Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Route of Administration
- Market Analysis, Insights and Forecast – By Gender Type
- Market Analysis, Insights and Forecast – By Age Group
- Below 18 years
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