Alopecia Treatment Market
Global Market Study on Alopecia Treatment: High Demand for Effective Hair Loss Treatment Dugs with Minimal Side-effects Aiding Market Growth
Alopecia Treatment Market is segmented by Alopecia Areata, Alopecia Totalis, Alopecia Universalis, Topical Drugs, Oral Drugs, Injectable Drugs
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.
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- Johnson & Johnson, Inc.
- Merck & Co., Inc.
- Johnson & Johnson, Inc.
- Teva Pharmaceutical Industries Ltd.
- Dr. Reddy’s Laboratories Ltd.
- Cipla Ltd.
- Cellmid Ltd.
- The Himalaya Drug Company
- Taisho Pharmaceutical Holdings Co., Ltd
- Shiseido Co., Ltd.
- Zhangguang 101 Science & Technology Co., Ltd.
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.
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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.
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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.
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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.
Key Segments of Alopecia Treatment Market
Questions Answered in PMR’s Alopecia Treatment Market Report
- Which regions will continue to remain the most profitable regional markets for alopecia treatment market players?
- Which factors will induce a change in the demand for alopecia treatment during the assessment period?
- What are the different opportunities available for emerging players in the alopecia treatment market?
- How are supply-side and demand-side drivers impacting the alopecia treatment market?
- How will changing trends impact the alopecia treatment market?
- How can market players capture the low-hanging opportunities in the alopecia treatment market in developed regions?
- Which companies are leading the alopecia treatment market?
- What are the winning strategies of stakeholders in the alopecia treatment market to upscale their position in this landscape?