Pune, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Alopecia Treatment Market Size & Growth Analysis:
According to SNS Insider, The Alopecia Treatment Market Size was valued at USD 8.80 Billion in 2023 and is expected to reach USD 20.70 Billion by 2032 and grow at a CAGR of 10.48% over the forecast period 2024-2032.
The Alopecia Treatment market is growing due to the increase in prevalence of hair loss, technological advancements in alopecia treatment, and an increase in the prevalence of chronic diseases associated with hair loss. According to the data published by the American Hair Loss Association, it was stated that over 95% of hair loss in men is due to androgenetic alopecia. Similarly, according to the data published by the International Society of Hair Restoration Surgery, it was estimated that nearly 40% of men experience some degree of hair loss by 35 years of age, 65% at 60, 70% at 80, and 80% at the age of 85. Owing to this, the androgenetic alopecia market in terms of revenue is considered to grow at a significant growth rate during the forecast period. One of the major factors driving the market growth of alopecia treatment is the growing prevalence of hair loss itself. According to the data published by the Journal of Clinical and Diagnostic Research, about 60% of the global population has hair thinning problems and pattern hair loss is the most common form of hair loss in both males and females. Moreover, about 2% of the world population gets alopecia areata at least once in their lifetime irrespective of gender.
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Key Alopecia Treatment Market Players:
- Sun Pharmaceutical Industries Ltd.
- Follicum AB
- GlaxoSmithKline plc.
- Daiichi Sankyo
- Fagron
- Concert Pharmaceuticals Inc.
- Johnson & Johnson
- Aclaris Therapeutics Inc.
- Cipla Inc.
- Merck & Co. Inc.
- Other players
Alopecia Treatment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 8.80 Billion |
| Market Size by 2032 | US$ 20.70 Billion |
| CAGR | CAGR of 10.48% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Dynamics
The end-user alopecia market was dominated by dermatology clinics with 52% in 2023 and it will also grow strongly over the forecast period. The primary reasons for the strong demand for dermatology clinics are modern treatment methods like laser technology, a robust pipeline of products, and increased consumer awareness of the use of prescription medicines. Consulting dermatologists are the favored choice for hair loss treatment since they offer appropriate custom medications or therapy which largely provide effective results.
The home care setting segment will dominate the market over the forecast period, owing to the convenience, ease of usage, and patient comfort. There are a growing number of regulatory approvals being given for home-use devices. The greater adoption of non-invasive procedures is a factor. For instance, Alopecia Areata Treatment by Yale was approved by the FDA in June 2023. This helps to provide a new treatment option, and it uses ritlecitinib which is a JAK inhibitor that can be used to treat alopecia areata for both adolescents and adults.
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Alopecia Treatment Market Key Segmentation:
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 Physicians offices
- Dermatology Clinics
- Others
Regional Insights
The Asia-Pacific region is expected to have the greatest CAGR during the forecast period. There are growing rates of alopecia in a wide variety of different countries in the Asian region. There are more awareness and awareness campaigns to teach the citizens of the region about how hair loss can impact their looks and self-perception. Moreover, there is a greater number of disposable income to spend on hair treatment due to the changing lifestyles of the population.
Recent Developments
- Kintor Pharmaceutical Limited in August 2023 announced the completion of the enrollment for the phase II clinical trial in China and other parts of the world to treat male androgenetic alopecia.
- A treatment option for adolescents has been provided by Pfizer Inc. through the FDA approval of LITFULO in June 2023.
- Sun Pharmaceuticals Industries Ltd announced the acquisition of Concert Pharmaceuticals which is a biotechnology company that has provided great treatment options for alopecia areata.
Key Takeaways
- Dermatology clinics dominate the market, but home-care settings are rapidly growing due to convenience and regulatory approvals for home-use devices.
- The home care setting segment will be the fastest-growing segment for the assessment period due to the convenience and comfort granted to the patient.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
- Incidence and Prevalence (2023)
- Prescription Trends, (2023), by Region
- Device Volume, by Region (2020-2032)
- Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Alopecia Treatment Market Segmentation, by Route of Administration
8. Alopecia Treatment Market Segmentation, by Gender Type
9. Alopecia Treatment Market Segmentation, by Age Group
10. Alopecia Treatment Market Segmentation, by End User
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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