Alopecia is a prevalent autoimmune disorder, resulting in loss of hair all over the body, predominantly on the scalp. It usually starts with one or smaller round patches on the scalp (alopecia areata) and progresses to total scalp hair loss (alopecia totalis), or complete body hair loss (alopecia universalis). Alopecia universalis is the least prevalent autoimmune disorder, affecting less than 5% of the total population with alopecia. The management of extensive alopecia is challenging, and sometimes patients may not respond to therapy. The most common prescribed medication for hair regrowth includes anti-inflammatory medications, including topical and intraleisonal corticosteroid injections. Topical 2% and 5% minoxidil solution and oral finasteride (such as propecia manufactured by Merck and Co. Inc.) are also recommended for the treatment of hair loss. The global alopecia treatment market size is set to expand at a steady CAGR of 4% over the forecast period of 2020 to 2030.
Alopecia Treatment Market Trends
Growth of the alopecia treatment market is mainly driven by increasing demand for hair loss treatment drugs with enhanced effectiveness and minimal side effects. For example, in recent years, cytokine therapy as well regenerative cell therapy are gaining popularity for the treatment of various types of alopecia. Treatment with the cytokine therapy possess extends the ability of hair regrowth, resulting in hair follicle cells getting differenced and proliferated while controlling the hair growth cycle. Additionally, combination therapies have also demonstrated their clinical efficacy in the treatment of alopecia. Combination therapeutics is currently the widest adopted treatment for hair loss management. Various combination drugs are being tried by physicians for increasing the effectiveness of treatment of all kinds of alopecia. However, patent expiry of many blockbuster drugs and side effects associated with available hair loss treatment therapies are expected to hamper overall growth of the global alopecia treatment market.
Increasing penetration of advanced hair loss treatment therapies such as stem cell therapy and increased focus on providing hair loss solutions (with both functional and active ingredients) with multifunctional effects are set to define the market landscape of the hair loss industry over the forecast period.
Regional Analysis of Alopecia Treatment Market
Europe leads the global alopecia treatment market with a ¼ share of overall market. It is closely followed by North America, which holds around 21% of the alopecia treatment market share. The MEA region is the smallest market for alopecia treatment, and will remain so through 2030.
COVID-19 Impact on Alopecia Treatment Market
The most unprecedented operational and economic challenges have followed the onset of the global COVID-19 pandemic. Also, significant time is required to develop and commercialize effective treatment options for this virus. This blind spot uncertainty is expected to delay and reschedule the treatment of alopecia and hair problems for next two to three quarters. In addition, local government redirection of healthcare resources to tackle COVID-19 is also expected to become a hampering factor for the growth of the alopecia treatment market growth in the short term. The alopecia treatment market is expected to go back to pre-pandemic market demand in the second-half of 2021, owing to the availability of treatment and recovery of developed and emerging economies from the COVID-19 pandemic.
The global alopecia treatment market is on path to experience steady growth over the forecast period of 2020 to 2030, as per PMR analysis. Europe and North America will lead the way, followed by the South Asia and East Asia. Short-term decline is expected due to the onset of the COVID-pandemic, which will hinder market growth for the next two to three quarters.
Alopecia Treatment Market - Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global alopecia treatment market. The study provides detailed assessment of key market dynamics, including the drivers, trends, opportunities restraints, and detailed information about the alopecia treatment market structure. The market study presents exclusive information about how the alopecia treatment market will grow during the forecast period (2020-2030).
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market and compound annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. Other information includes definitions, drivers, and opportunity analysis by region and by product, which helps in the deep understanding of the market segment details by researchers, suppliers, manufactures, and distributors. This information can help readers understand the quantitative growth prospects of the alopecia treatment market during the forecast period.
The study is relevant for manufacturers, physicians, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Business researchers, shareholders, and industry experts can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to the macroeconomics factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the alopecia treatment market. Furthermore, small businesses and new entrants in the alopecia treatment market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
PMR’s study on the alopecia treatment market offers information divided into four important segments—alopecia type, treatment type, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Segments of Alopecia Treatment Market
Questions Answered in PMR’s Alopecia Treatment Market Report
Alopecia Treatment Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the alopecia treatment market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the alopecia treatment market study include statistics from government healthcare organizations, medicines journals, research journals, press releases, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as validation from companies in the alopecia treatment market, and makes PMR’s projections on the growth prospects of the alopecia treatment market more accurate and reliable.