According to the latest report by IMARC Group, titled "Alopecia Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global alopecia treatment market reached a value of US$ 3 Billion in 2021. Alopecia is an autoimmune disorder that is related to permanent or temporary hair loss from various parts of the body. It mainly affects the hair follicles that generally causes baldness and patches, which usually occur due to hormonal changes, medical conditions, heredity or aging. There are several alopecia treatments suggested by healthcare professionals that facilitate the re-growth of hairs, which are commonly administered orally or intravenously. Some of the popular alopecia treatments include anti-inflammatory and corticosteroid drugs that help in stimulating the growth of hair by suppressing the immune system. Besides this, various surgical treatments, including scalp reduction treatment and hair transplantation, are also preferred by individuals suffering from alopecia.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Alopecia Treatment Market Trends:
The global market is primarily driven by the rising prevalence of alopecia among the masses. Moreover, the sedentary lifestyles and hectic routines of working professionals result in increased hair loss and baldness, which, in turn, is impelling the demand for effective alopecia treatment. Additionally, the growing awareness among the masses regarding the treatments available for alopecia is providing a boost to the market growth. Furthermore, continual technological advancements and the introduction of novel alopecia treatment methods, including non-invasive procedures, are considered to be major growth-inducing factors. Apart from this, continuous improvements in the healthcare and pharmaceutical industries are significantly supporting the growth of the market on the global level. Moreover, the rising investments by private and public agencies to upgrade the overall healthcare infrastructure is creating a positive market outlook. Other factors, including the increasing geriatric population, the inflating income levels of the masses, continual development of healthcare facilities across rural and geographically extended locations, and extensive research and development (R&D) activities conducted by key players, are also favorably impacting the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 3.9 Billion by 2027, exhibiting a CAGR of 4.7% during 2022-2027.
- On the basis of the drug type, the market has been segregated into minoxidil, finasteride and others.
- Based on the indication, the market has been segmented into androgenic alopecia, alopecia areata, alopecia totalis and others.
- On the basis of gender, the market has been bifurcated into male and female.
- Based on the route of administration, the market has been classified into oral, topical and injectable.
- On the basis of the distribution channel, the market has been categorized into hospitals, retail pharmacies and online pharmacies.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Aclaris Therapeutics Inc., Cellmid Limited, Cipla Limited, Dr. Reddy’s Laboratories Ltd., GlaxoSmithKline plc, HCell Inc., Johnson & Johnson, Merck & Co. Inc., Pfizer Inc., Taisho Pharmaceutical Holdings Co. Ltd and Teva Pharmaceutical Industries Ltd.
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