Alopecia Market: Global Industry Analysis and Forecast (2023-2029)

The Alopecia Market size is expected to grow from US$ 9.76 Bn. in 2022 to US$ 17.07 Bn. by 2029, growing at a CAGR of 8.3% through 2023 to 2029. Alopecia Areata disease segment leads the Global Alopecia Market by 2029.
Alopecia Market Overview:
The Global Alopecia market was valued at US $9.76 Bn. in 2022, and it is expected to reach US $17.07 Bn. by 2029 with a CAGR of 8.3% during the forecast period. Alopecia, or hair loss and damage, is becoming more widespread as a result of a sedentary lifestyle, poor nutritional habits, and increased stress levels. Aging, hormone imbalances, and the increased prevalence of cancer, arthritis, hypertension, and depression are all factors that contribute to alopecia.

Alopecia Universalis is the least frequent autoimmune disorder, affecting fewer than 5% of the population. Treatment for extensive alopecia can be tough, and some people may not react to it. The most popular therapies for hair growth are anti-inflammatory medications, such as topical and intralesional corticosteroid injections.To know about the Research Methodology :- Request Free Sample Report
Global Alopecia Market Dynamics:
Hair loss and baldness are caused by gradual changes in eating habits, excessive intake of poor food, adoption of a sedentary lifestyle, linked stress and age, hormonal imbalance, and a high incidence of hereditary and chronic disorders. Furthermore, chronic ailments such as Polycystic Ovary Disease, hyperthyroidism, acute stress disorder, hypothyroidism, cancer, lupus, hypopituitarism, and heavy cigarette and alcohol use are boosting global market growth.

The availability of low-level laser therapy, which promotes hair growth, is expected to increase the number of people who are treated for hair loss. The FDA-approved introduction of swiftly acting JAK medications, the development of ways to stimulate hair growth utilising human pluripotent stem cells, and the invention of PRP treatment, which specifically stimulates hair growth in males, are all driving forces. Hairmax laser combs, follinex massager combs, lifemax infrared hairbrushes, and hair growth renewal lasers are only a few examples of technologically innovative products based on cutting-edge technology. These are a few of the most crucial aspects that are expected to drive the market's growth.

Finasteride's potential side effects, such as skin rash, ejaculation dysfunction, and the risk of prostate cancer, pose as a stumbling block. Patients are also likely to be deterred from seeking treatment due to high treatment costs and the risk of infection on the scalp following hair transplant surgery, which are two major factors expected to hinder the market's growth.
Global Alopecia Market Segment Analysis:
The GlobalAlopecia Market is segmented by Disease Type, Treatment, Gender, Sales Channel, and End-Use.

Based on the Disease Type, the market is segmented into Alopecia Areata, Cicatricial Alopecia, Traction Alopecia, Alopecia Totalis, Alopecia Universalis, Androgenetic Alopecia, and Others. Alopecia Areata segment is expected to hold the largest market share of xx% by 2029. According to the National Alopecia Areata Foundation, over 147.0 million people worldwide are affected by AA, with approximately 6.8 million living in the United States alone. Due to an increase in the discovery of novel therapies and positive measures in the approval process, the segment is expected to grow at a significant rate throughout the forecast period. For example, the United States Food and Drug Administration granted Incyte Corporation and Eli Lilly and Company Breakthrough Therapy Designation for baricitinib for the treatment of AA in March 2020. The Breakthrough Therapy Designation will assist in obtaining clearance more quickly.

Based on the Treatment, the market is segmented into Pharmaceuticals, and Devices. Pharmaceuticals treatment segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. The segment is driven by the low cost of pharmaceutical products and the high use of prescription and over-the-counter drugs. The most frequent medications used to treat alopecia are finasteride and minoxidil. Finasteride and minoxidil are the only medications approved in the United States to treat both Female Pattern Hair Loss (FPHL) and Male Pattern Hair Loss (MPHL) (MPHL). Furthermore, prominent pharmaceutical firms such as Lilly, Pfizer Inc., and Concert Pharmaceuticals are actively involved in the development of innovative alopecia treatments, which is expected to fuel the segment during the forecast period.

Based on the Gender, the market is segmented into Male, and Female. Male segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to the increasing occurrence of hair loss in males around the world. The most frequent type of alopecia in men is androgenetic alopecia. At the age of 50, it is expected that 50% of men will experience some form of hair loss, with androgenetic hair loss accounting for over 95% of occurrences. Furthermore, factors such as increasing senior population and increased tobacco consumption in men are expected to propel the market even further throughout the forecast period.
Regional Insights:
North America dominates the Global Alopecia market during the forecast period 2023-2029. North America is expected to hold the largest market share of xx% by 2029. High illness prevalence, increased consumer awareness, proactive government initiatives, technological advancements, and improvements in healthcare infrastructure are all driving the market forward. The presence of major companies in this region is a major driving factor for growing market. Furthermore, growing the use of laser-based therapy to treat alopecia is improving the region's treatment rate. Furthermore, the presence of government and non-profit organisations such as the National Alopecia Areata Foundation (NAAF), the Canadian Alopecia Areata Foundation, and others, which establish recommendations and raise public awareness, is expected to have a favourable effect on the market.

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to the increased alopecia product penetration, greater disposable income, and increased consumer awareness Furthermore, as the regulatory environment in developing countries improves, multinational businesses are expected to invest and take advantage of the available market prospects. In 2016, China's regulatory authority, the China Food and Drug Administration, approved Apira Science's iGrow laser system, making it the first laser-based hair growth technology to be approved in the country.

Europe is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This growth can be due to a variety of factors, including technological advancements and public and private awareness initiatives. The European Hair Research Society is a key player in promoting hair loss research and raising knowledge about viable treatments to prevent hair loss.

The objective of the report is to present a comprehensive analysis of the Global Alopecia Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Alopecia Market dynamic, structure by analyzing the market segments and project the Global Alopecia Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Alopecia Market make the report investor’s guide.
Global Alopecia Market Scope: Inquire before buying



Alopecia market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 9.76 Bn.


Forecast Period 2023 to 2029 CAGR:
8.3 %
Market Size in 2029:
US $ 17.07 Bn.


 Segments Covered:
by Product
Cicatricial Alopecia
Traction Alopecia
Alopecia Totalis
Alopecia Areata


by Treatment
Pharmaceuticals
Devices


by Gender
Male
Female


by Sales Channel
Prescription
OTC


by End User
Homecare Settings
Dermatology Clinics



Global Alopecia Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. iGrow Laser (Apira Science, Inc)
2. Theradome
3. Curallux, LLC (Capillus)
4. LUTRONIC
5. iRestore Hair Growth System (Freedom Laser Therapy)
6. Lexington Intl., LLC. (HairMax)
7. Vitabiotics
8. Sun Pharma
9. Merck & Co.
10. Alpecin
11. Dr. Reddy’s Laboratories
12. Cipla
13. Johnson & Johnson
14. Kirkland Signature
15. Phyto Ales Group
16. Lifes2good
Frequently Asked Questions:
1] What segments are covered in Global Alopecia Market report?
Ans. The segments covered in Global Alopecia Market report are based on Disease Type, Treatment, Gender, Sales Channel, and End-Use.

2] Which region is expected to hold the highest share in the Global Alopecia Market?
Ans. North America is expected to hold the highest share in the Global Alopecia Market.

3] Who are the top key players in the Global Alopecia Market?
Ans. Vitabiotics, Sun Pharma, Merck & Co., Alpecin, Dr. Reddy’s Laboratories, and Cipla are the top key players in the Global Alopecia Market.

4] Which segment holds the largest market share in the Global Alopecia market by 2029?
Ans. Alopecia Areata disease type segment hold the largest market share in the Global Alopecia market by 2029.

5] What is the market size of the Global Alopecia market by 2029?
Ans. The market size of the Global Alopecia market is US $17.07 Bn. by 2029.

6] What was the market size of the Global Alopecia market in 2022?
Ans. The market size of the Global Alopecia market was worth US $9.76 Bn. in 2022.

7] What are the key driving factors for the growth of the Global Alopecia Market?
Ans. The rising incidence of chronic conditions such as Polycystic Ovary Disease, hyperthyroidism, acute stress disorder, hypothyroidism, cancer, lupus, hypopituitarism, and increased cigarette and alcohol consumption are the key driving factors for the growth of the Global Alopecia Market.