Rising global demand for effective hair loss treatment medications, especially oral drugs, is the prime driver of the global alopecia treatment market. Oral hair loss treatment drugs are gaining immense popularity, as they help in maintaining patient-safety through reduced number of medicine dosages, but with increased drug efficacy. With changing lifestyle along with increase in stress levels among the working class population, cosmeceutical drug manufacturers are focusing on expanding their hair and scalp treatment product lines, and cytokine therapy is gaining momentum for alopecia treatment. These factors are expected to fuel the growth of the alopecia treatment market over the next decade.
The global alopecia treatment market is slated to expand at a CAGR of 4% over the next ten years, to be valued around US$ 9.5 Bn by 2030.
Key Takeaways from Alopecia Treatment Market Study
- Rising demand for hair loss treatment with minimal side effects is the main drive of the alopecia treatment market.
- Europe, North America, and Asia Pacific will remain lucrative regions in the global alopecia treatment market through 2030.
- The main focus of manufacturers is to innovate and possess cost-effective manufacturing methods to stay ahead of the competition.
“Due to the COVID-19 pandemic, the healthcare community has put all its efforts and resources toward its treatment, and, as such, non-essential medical treatment and procedures have been rescheduled. This will adversely affect the progress of the alopecia treatment market in the short term,” says a PMR analyst.
Alopecia Treatment Market: Competition Analysis
Some of the key companies covered in the global alopecia treatment market report include Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Johnson & Johnson, Inc., Dr. Reddy’s Laboratories Ltd., Cipla Ltd., Cellmid Ltd., The Himalaya Drug Company, Taisho Pharmaceutical Holdings Co., Ltd, Shiseido Co., Ltd., and Zhangguang 101 Science & Technology Co., Ltd. These companies are primarily focused on enhancing their product portfolios through research & development. They are striving to introduce innovative and cost-effective advanced manufacturing procedures in order to gain a higher market share and thereby strengthen their respective positions in the global market space.
What Else is in the Report?
Persistence Market Research offers a unique perspective and actionable insights on the alopecia treatment market in its latest study, presenting historical demand assessment of 2015–2019 and projections for the years 2020–2030. Research of this report has been done based on segmentation into alopecia type (alopecia areata, alopecia totalis, and alopecia universalis), treatment type (topical drugs, oral drugs, injectable drugs, hair transplant services, and low-level laser therapy), and end user (hospitals, dermatologic and trichology clinics, home care settings, and aesthetic clinics), across seven key regions of the world.
For additional insights on how the growth of the alopecia treatment market will unfold over the next decade, write to the analyst at email@example.com
PMR’s Expertise in Life Sciences and Transformational Health
Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision makers with sound inputs and strategic recommendations. Click here to learn more about how we zero in on the critical aspects of this industry.