The alopecia treatment market is expected to grow at a CAGR of 7% during the forecast period of 2023 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. Androgenetic alopecia is responsible for more than 95% of the hair loss that occurs in men, as indicated by research that was released by the American Hair Loss Association. In a similar vein, according to data that was published by the International Society of Hair Restoration Surgery, it was estimated that nearly 40% of men will experience some degree of hair loss by the age of 35, 65% at the age of 60, 70% at the age of 80, and 80% at the age of 85.
Increasing Prevalence of Alopecia and Conditions Leading to Alopecia
Alopecia is a disorder that refers to the thinning or complete absence of hair on the scalp or any other region of the body. It is also known as baldness or hair loss. It is possible for either a male or a female to experience it at any age. There are several subtypes of alopecia, the most common of which are androgenic alopecia, alopecia areata, and alopecia totalis. There are also other subtypes. Alopecia is an autoimmune illness that causes hair loss by having the body's immune system assault healthy hair follicles. This results in the loss of hair. 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 the 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.
Perceived Drawbacks of Certain Therapies to Limit the Market Growth
It is anticipated that one of the primary factors that will act as a barrier to the expansion of the global alopecia treatment market would be the growing restrictions connected with some therapies for alopecia. For example, according to a series of reports that the Patient-Focused Drug Development Initiative of the United States Food and Drug Administration (FDA) published in September 2017, which include the patient perspectives on treatments for alopecia areata. A considerable number of the patients and participants who reported using corticosteroids as a therapy for alopecia noted that corticosteroids were frequently ineffective and had significant negative effects. Some of the individuals in the study said that they saw transient success with these therapies in reducing or halting the rate of hair loss. On the other hand, for several individuals, the usage of corticosteroids had either little or no effect. As a result, the participants came to the conclusion that corticosteroids were "not an effective therapy choice" and "not a realistic treatment alternative."
Treatment For Androgenetic Alopecia Dominated the Market
Androgenetic alopecia, alopecia areata, alopecia totalis, and other forms of alopecia are some of the indications that are covered in the report. The androgenetic alopecia category accounted for the majority of the revenue share in 2021, which can be attributed to factors such as the growth in incidence of the androgenetic alopecia condition, hormone imbalance, and unhealthy lifestyle choices, and the rise in patient knowledge regarding alopecia treatments. The growing awareness about these conditions, which is being driven by proactive initiatives by organizations such as the American Hair Loss Association, Alopecia World, and National Hair Loss Awareness Month by HairMax (Lexington International), is one factor that is contributing to the expansion of the market. In addition, the increasing use of laser-based treatment options for AGA is another factor that is propelling the growth of the market over the forecast period. Companies like LUTRONIC, iRestore Hair Growth System (Freedom Laser Therapy), and Lexington International, LLC (HairMax) are demonstrating cutting-edge and non-invasive therapy solutions for the treatment of AGA.
Over the course of the forecast period, it is predicted that the alopecia totalis and alopecia universalis sectors will experience the highest growth rates. Over the course of the projected period, market growth is anticipated to be driven by increasing awareness regarding severe types of alopecia, as well as an increase in research initiatives aimed at developing novel and effective treatment alternatives. The Genetic and Rare Diseases Information Center (GARD) estimates that between 7% to 25% of persons who have alopecia areata also have alopecia totalis or alopecia universalis. In addition, the availability of medications in the pipeline for the treatment of severe diseases associated with AA, including baricitinib, deuruxolitinib, and ritlecitinib, is anticipated to drive the growth of this category throughout the course of the projection period.
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.
Because of its ease of use, patient comfort, and overall convenience, the home care setting market segment is expected to experience the highest growth rate throughout the course of the forecast period. In addition, there is an increase in the number of regulatory licenses being granted for home-use devices, and there is also an increase in the use of non-invasive procedures such as laser therapy, which do not require any adjustments to be made to a person's way of life. For instance, in March of 2020, the Food and Drug Administration in the United States granted approval to the Shapiro MD hair restoration device developed by LifeMD. This device is designed to stimulate hair growth in men and women who suffer from androgenetic alopecia and is made available through direct-to-consumer platforms as well as telemedicine.
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 2023 to 2030.
Market to Remain Fragmented During the Forecast Period
The market for alopecia treatment is fragmented, due to the presence of a variety of market players depending on the solutions they offer. The amount of concentration in this market is relatively low, with no single company controlling the majority of the market share. This is largely attributable to the abundance of products that are available for purchase in a variety of countries and areas across the globe. Products for alopecia include injectables for the scalp, oral and topical treatments, as well as restorative treatments for hair loss. The market share concentration is expected to stay low, and it is anticipated to have a consistent pace of expansion throughout the course of the projected period. 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., and Vita-Cos-Med Klett-Loch GmbH and others are some of the key players in this market segment.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Alopecia Treatment market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
