The global alopecia market is projected to be worth USD 5,250.8 Million by 2027, according to a current analysis by Emergen Research. The market is growing at a CAGR of 8.9% over the forecast period of 2020 to 2027, owing to the rising awareness regarding appearance and beauty among people worldwide. In men, androgenetic alopecia is the most common type of hair loss, while in women, diffuse alopecia is the most common type.
Alopecia areata, a chronic autoimmune disease that causes hair loss, affects approximately 6.8 million people in the United States. The condition can develop at any age, but is most common in children and young adults. While the exact cause of alopecia areata is unknown, it is believed to be an autoimmune disorder where the body’s immune system mistakenly attacks healthy hair follicles. The condition can be temporary or permanent, and can lead to complete hair loss on the scalp (alopecia totalis) or body (alopecia universalis). There is no cure for alopecia areata, but there are treatment options available that can help stimulate hair growth.
Growing trends in hair fashion, and the increasing awareness about the availability of options to treat alopecia are factors that are projected to fuel the growth of this market. The demand for hair transplant procedures is also expected to increase during the forecast period, owing to their growing popularity among men and women.
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Additionally, various chronic disorders and genetic diseases are also responsible for the causation of alopecia. According to the World Health Organization, genetic diseases are one of the leading causes of death globally. As per estimation by the National Institutes of Health, in the U.S., around 6,000-8,000 newborns suffer from a genetic disease every year. Thus, increasing prevalence of chronic diseases and genetic disorders is expected to fuel the growth of the alopecia market during the forecast period.
Some Key Highlights from the Report
- On the basis of type, the market is classified into androgenetic alopecia, cicatricial alopecia, telogen effluvium, alopecia areata, and others. Androgenetic alopecia is anticipated to be the largest segment over the forecast period, due to its high prevalence among men and women worldwide, lack of any permanent cure for the condition. Also, the easy availability of over-the-counter products for the treatment of androgenetic alopecia is expected to fuel the growth of this segment.
- On the basis of treatment, the market is segmented into minoxidil, finasteride, corticosteroids, immunotherapy, and others. Minoxidil is projected to be the fastest-growing segment over the forecast period, due to its wide availability over the counter and efficacy in the treatment of androgenetic alopecia. Also, the easy availability of minoxidil products in various formulations, such as foam, solution, and others, is expected to drive the growth of this segment.
- On the basis of end-user, the market is categorized into hospitals, dermatology clinics, and others. Dermatology clinics are anticipated to be the largest segment over the forecast period, owing to the availability of specialized treatments for alopecia at these clinics. Also, the rising awareness regarding various treatment options available for alopecia is expected to fuel the growth of this segment.
- The market in North America is expected to hold the largest market share over the forecast period, due to the high prevalence of alopecia in the region and availability of advanced treatment options. Also, the presence of key market players in the region is expected to drive the growth of the market.
- The Asia Pacific region is projected to grow at the fastest rate over the forecast period, due to the rising awareness regarding hair loss and its treatments, the availability of advanced treatments, and the growing disposable income in the region.
- Key participants include Johnson & Johnson Services Inc., Cirrus Hair Centers, Cipla Inc., Follica Inc., Merck & Co. Inc., Sun Pharmaceutical Industries Ltd., Concert Pharmaceuticals Inc., GlaxoSmithKline PLC, Aclaris Therapeutics Inc., and HCell Inc., among others.
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Emergen Research has segmented the global alopecia market on the basis of type, application, end-users, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Alopecia Areata
- Androgenetic Alopecia
- Alopecia Totalis
- Traction Alopecia
- Cicatricle Alopecia
Application Outlook (Revenue, USD Billion; 2017-2027)
End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Dermatology Clinics
- Homecare Settings
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- OTC (Over-the-Counter)
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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