Report Overview

The global alopecia treatment market was pegged at US$ 9.78 billion in 2021 and is expected to witness a CAGR of 7.69% during the forecast period from 2022 to 2030.

Market Fundamentals                                                                                          

An autoimmune disorder known as alopecia areata often causes unexpected and uneven hair loss. Alopecia is a medical term for baldness or hair loss. The most prevalent cause of baldness is age-related hereditary hair loss. Hair loss occurs due to the immune system destroying hair follicles. This chronic disease cannot be cured, but various drug treatments, such as corticosteroids, topical immunotherapy, etc. can be used for hair growth. 

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Market Dynamics

The global alopecia treatment market is expected to depict noticeable growth during the forecast period. The market growth can be attributed to the growing prevalence of alopecia, the rising geriatric population, and increasing disposable income. Additionally, growing cases of PCOS/PCOD (Polycystic Ovary Syndrome/ Polycystic Ovary Disorder), cancer, thyroid-related diseases, arthritis, and many more also contribute to the growth of alopecia disease. Furthermore, rising urbanization thus results in unhealthy diets, a sedentary lifestyle, and growing stress levels among the population. These factors affect the immune system, which can cause this medical condition, thus increasing the demand for alopecia treatment. The side effects caused due to alopecia treatment drugs can cause a hurdle in the expansion of the alopecia treatment market. 

Market Ecosystem

The global alopecia treatment market has been analyzed from four perspectives: drug class, gender, distribution channel, and region. 

Alopecia Treatment Market by Drug Class

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The global alopecia treatment market has been segmented based on type: corticosteroids, finasteride, minoxidil, vasodilator, and others (topical immunotherapy, 5 AR inhibitors, etc.). Corticosteroids hold the largest share in the market due to the high usage of this drug for treating alopecia disorder. This drug is also called a steroid and is used as an anti-inflammatory medication steroid in alopecia treatment. They can be ingested orally, injected, or used topically (for example, as a cream, lotion, or component of a shampoo mixture). The minoxidil segment is proliferating in the market. It is expected to depict significant growth and surpass the corticosteroids segment in the projected. 

Alopecia Treatment Market by gender 

Based on gender, the global alopecia treatment market has been bifurcated into females and males. Male dominates the segment with the largest revenue share in the market owing to a high prevalence of alopecia in males. Androgenic alopecia is a major factor driving the overall market growth; this disorder has a high occurrence rate in males. The female segment is experiencing steady growth and is expected to show a continuous rise in cases, thereby contributing to the growth of this market.

Alopecia Treatment Market by Distribution Channel

The alopecia treatment market has been segmented based on distribution channels into hospitals, online pharmacies, and retail pharmacies. Hospitals have a majority of the revenue shares in the market. This growth is anticipated to maintain its dominance over the projected period. The prevalence of alopecia disorder is linked to the high patient volume and accessibility to advanced technology. Additionally, this market segment has a high percentage of patient satisfaction and provides better services, supporting market expansion. Retail pharmacies hold the second-largest market share due to the growing demand for over-the-counter treatments. Furthermore, the growing consumer awareness and the increasing incidences of hair loss among the population. 

Alopecia Treatment Market by Region

Geographically, the alopecia treatment market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America acquires high revenue shares in the market. Thus, the market growth can be attributed to various factors such as developed healthcare infrastructure, advanced technologies, and development in R&D activities. Additionally, growth in the cases of alopecia disorder, growth in the aged population, and an increased prevalence of arthritis, thyroid problems, cancer, etc., also contribute to the market growth in this region. Furthermore, the availability of advanced medical equipment and advanced technologies. Europe comes second in revenue share owing to the growing prevalence of alopecia disorder, growth in the geriatric population, and rapid adoption of advanced technologies. The Asia Pacific is an emerging region in this market due to developing healthcare infrastructure, growing aging population, increasing cases of alopecia disorder among the population, and many more. Furthermore, rising R&D activities and enhancing healthcare expenditure further contribute to the growth of the alopecia treatment market.

Competitive Landscape

Some prominent players operating in the global alopecia treatment market are:  

• Sun Pharmaceuticals Industries Ltd.
• Johnson & Johnson Services Inc.
• GlaxoSmithKline Plc.
• Merck & Co. Inc.
• Dr. Reddy's Laboratories Ltd.
• Aurobindo Pharma Limited
• Arcutis Biotherapeutics Inc.
• Teva Pharmaceutical Industries Ltd.
• Eli Lilly and Company
• Aclaris Therapeutics Inc.
• Cipla Inc.
• Fagron NV
• Pfizer Inc.

Strategic Developments

• In Aug 2022, Concert Pharmaceuticals, Inc. announced the successful results of its novel drug THRIVE-AA2 for the second Phase 3 clinical trial. This drug was developed to treat adult patients with moderate to severe alopecia areata, an autoimmune disorder that results in uneven or complete scalp hair loss.
• In March 2020, Eli Lily and Company and Incyte Corporation announced the novel treatment “Baricitnib therapy” received a breakthrough treatment title from U.S. FDA. 

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