Alopecia Treatment Global Market Report 2022: Advancing Treatment Options Expand Revenue Opportunities

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Feb 22, 2023, 10:01 ET

DUBLIN, Feb. 22, 2023 /PRNewswire/ -- The "Alopecia Treatment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.

The alopecia treatment market is expected to grow at a CAGR of 7% during the forecast period of 2022 to 2030. There are a number of significant drivers that are driving the market, some of the most important of which are the rising incidence of hair loss, technological advances in the treatment of alopecia, and the growing incidence of chronic disorders that are connected with hair loss.

Increasing Prevalence of Alopecia and Conditions Leading to Alopecia

The alopecia problem can be treated with a wide variety of medications and surgical procedures, including hair transplantation, scalp reduction treatment, and others. A change in lifestyle along with an increase in stress level; an increase in geriatric population; hormonal imbalance; unhealthy diets; and an increase in demand for alopecia treatment drugs are all factors that are expected to contribute to the growth of the alopecia treatment market over the course of the forecast period.

It is anticipated that the alopecia treatment market will show significant market growth over the course of the forecast period. Over the course of the time covered by this estimate, expansion of the global alopecia treatment market is anticipated to be driven by the rising incidence of alopecia areata.

Advancing Treatment Options Expanding Market Revenues

In an effort to improve the efficacy of the treatment for all forms of alopecia, medical professionals are experimenting with a wide variety of pharmacological combinations. However, the overall expansion of the worldwide alopecia treatment market is anticipated to be hampered by factors such as the expiration of the patents on a number of blockbuster pharmaceuticals and the adverse effects associated with existing hair loss treatment techniques. The potential for hair regrowth that treatment with cytokine therapy possesses can be extended.

This results in hair follicle cells becoming differentiated and proliferated while managing the hair growth cycle. Additionally, combination medications have been shown to be clinically effective in the treatment of alopecia. Combination therapies are quickly becoming the most popular therapy option for the management of hair loss.

Over the course of the forecast period, the market landscape of the hair loss industry is going to be defined by the increasing penetration of advanced hair loss treatment therapies such as stem cell therapy and the increased focus on providing hair loss solutions (with both functional and active ingredients) with multifunctional effects.

Treatment in Clinics Remains Dominant, Though Home Care Settings to Emerge Strongly

During the forecast period, the dermatological and hair care clinics held a dominant position in the market and contributed over 58% of the total revenue. The continued expansion of the market is primarily driven by a number of factors, the most important of which are the development of cutting-edge treatment methods, such as laser technology, the existence of a robust product pipeline, and increased levels of consumer awareness regarding the utilization of prescription medications. It is common practice to consider contacting a dermatologist as the best course of action for the treatment of alopecia because of the dermatologist's ability to prescribe effective, appropriate, and individualized medications or therapies that bring about desirable outcomes.

Treatment for Male Alopecia Contributed Over 55% of Global Revenues -

Due to the high incidence of male pattern baldness across the globe's male population, the male alopecia category controlled the majority of the market in 2021 and accounted for the biggest revenue share, accounting for 55%. Androgenetic alopecia is the type of alopecia that affects men more frequently than any other type. It is anticipated that roughly fifty percent of males will experience some degree of hair loss by the age of fifty on average, with androgenetic alopecia accounting for more than 95% of all occurrences. In addition, factors such as a growing amount of tobacco consumption in men and an increasing number of elderly people are predicted to further boost the market throughout the course of the forecast period.

Despite this, it is projected that the market for treatments for female alopecia would expand at a rate that is the most rapid throughout the course of the projection period. It is anticipated that greater levels of knowledge, changes in lifestyle, higher levels of PCOS, and a growing trend of cosmetic operations would all contribute to the expansion of the current industry.

65% of Market Revenues Generated from Prescribed Medications for Alopecia

Due to the high number of consultations with dermatologists for hair loss treatment, the prescription sector was able to command a dominant position in the market and accounted for the greatest revenue share of 65% in the year 2021. According to the statistics provided by the National Library of Medicine, around 2.6 million outpatients seek treatment from dermatologists in the United States each year for alopecia areata. In addition, a robust product pipeline, rising disposable incomes, and an increasing prevalence of chronic diseases that ultimately lead to hair loss are expected to drive the growth of the segment at the fastest rate over the forecast period. This is expected to result in the segment's growth outpacing that of the overall market.

While over-the-counter (OTC) products are widely used in developing regions, where market participants find multiple opportunities to address the unmet medical needs of a large patient pool in countries such as China, Japan, Mexico, Brazil, and India, the over-the-counter (OTC) segment is another factor driving the market.

In addition, over-the-counter (OTC) medications continue to be the pharmaceutical of choice for males who suffer from androgenetic alopecia and for other types of hair loss problems in which there is a dearth of approved drugs, leading customers to rely on off-label or OTC medications.

Middle Aged Group are the Key Target for Alopecia Treatment

It is anticipated that the 18-to-34-year-old demographic will hold the greatest share of the market because an increasing number of young adults are seeking treatment for alopecia. Patients in this age range typically suffer from alopecia areata, which is the first stage of the ailment. As a result, patients in this age range are more likely to seek quick treatment in order to prevent additional hair loss. As a result, this market segment held the greatest revenue share in 2021, and it is anticipated that it will continue to do so throughout the projection period.

Europe Currently Dominant, APAC Open for Significant Opportunities During the Forecast Period

With a share equivalent to one-fourth of the total market, Europe dominated the global market for alopecia treatments in 2021. It is closely followed by North America, which controlled approximately 20% of the market share for alopecia therapy in 2021. The Middle East and Africa area will continue to have the smallest market for alopecia therapy all the way until 2030.

Because more people are becoming aware of treatments for alopecia and more people are using products designed to treat alopecia, the Asia-Pacific region offers the most lucrative opportunities to the leading companies currently operating in the alopecia treatment market.

In addition, the expansion of the research and development sector, the increasing number of healthcare reforms, the rise in the number of hospitals that are outfitted with advanced medical facilities, and the development of technological advancements in the field of healthcare all contribute further to the expansion of the market. It is anticipated that some other factors, such as a high population base and high disposable incomes, will drive the growth of the alopecia treatment market in the Asia-Pacific region. These factors include a surge in the focus of leading manufacturers on expanding their geographic presence in emerging Asia-Pacific thereby compelling the market to register the highest CAGR during the forecast period of 2022 to 2030.

Market Segmentation

Treatment Type

Topical Drugs
Creams
Oils
Gels
Shampoo
Lotions
Foams
Oral Drugs
Injectable Drugs
Platelet-rich Plasma
Injections
Injectable Fillers
Hair Transplant Services
Low-level Laser Therapy

Drug Class

Corticosteroids,
5 AR Inhibitors,
Vasodilators,
Others

Indication

Alopecia Areata
Cicatricial Alopecia
Traction Alopecia
Alopecia Totalis
Alopecia Universalis
Androgenetic Alopecia
Others

Gender

Male
Female

End Use

Hair Care Clinics
Home Care Setting

Mode of Purchase

Prescriptions
OTC

Distribution Channel

Hospitals
Retail Pharmacies
Online Pharmacies

Companies Mentioned

Aclaris Therapeutics Inc.
Follicum
Fagron
Capillus LLC
Cipla Inc.
Daiichi Sankyo Company
Limited
GlaxoSmithKline Plc
Johnson & Johnson
Merck & Co. Inc.
Sun Pharmaceutical Industries Ltd.
Transitions Hair
Vitabiotics Ltd.
Vita-Cos-Med Klett-Loch GmbH.

For more information about this report visit https://www.researchandmarkets.com/r/bepw26

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