Report ID: SQSG35I2021 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 141 | Figures: 78
Alopecia Market size was valued at USD 2.97 billion in 2021 and is poised to grow from USD 3.21 billion in 2022 to USD 4.91 billion by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).
The market for alopecia has grown as a result of consumer demand for hair-restoration medications, many of which have increased efficacy and few negative effects. For instance, in the realm of treating alopecia, cutting-edge therapies like cytokine therapy and regenerative cell therapy are gaining popularity. Cytokine treatment promotes hair regrowth by causing hair follicle cells to specialise and proliferate while regulating the hair growth cycle. The therapeutic efficacy of combination therapy in the treatment of alopecia has also been demonstrated. The most popular hair loss treatment at the moment is combination therapies.
The market for treating alopecia has grown as a result of consumer demand for hair-restoration medications, many of which have increased efficacy and few negative effects. For instance, in the realm of treating alopecia, cutting-edge therapies like cytokine therapy and regenerative cell therapy are gaining popularity. Cytokine treatment promotes hair regrowth by causing hair follicle cells to specialise and proliferate while regulating the hair growth cycle. The therapeutic efficacy of combination therapy in the treatment of alopecia has also been demonstrated. The most popular hair loss treatment at the moment is combination therapies.
Over the course of the forecast period, the hair loss industry's market landscape is expected to be characterised by an increased focus on the provision of hair loss solutions (with both functional and active ingredients) with multifunctional effects, as well as by an increase in the penetration of cutting-edge hair loss treatment therapies like stem cell therapy. The number of people treated for hair loss is anticipated to increase with the advent of low-level laser therapy, which helps encourage hair growth. Additionally, the advent of laser hats, helmets, combs, and bands is anticipated to spur market expansion. The Capillus Laser Cap, iGrow Laser Helmet, iRestore Hair Growth System, and Hairmax Laser devices are a few of the cutting-edge goods available today.
US Alopecia Market is poised to grow at a sustainable CAGR for the next forecast year.
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The global Alopecia market is segmented based on Disease Type, Treatment, Gender, Sales Channel, End-use and Region. Based on Disease Type the market is further sub-segmented into Alopecia Areata, Cicatricial, Traction, Androgenetic Alopecia. Based on Treatment the market is further sub-segmented into Pharmaceuticals, and Devices. Based on Gender the market is further sub segmented into Male, and Female. Based on Sales Channel the market is further sub segmented into Prescriptions, and OTC. Based on End Use the market is segregated into Homecare setting, and dermatology clinics. Based on Region the market is segregated into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America.
Alopecia Market Analysis by Disease Type
The market was dominated by the alopecia areata category, which had the highest revenue share (35.2%) in 2021 due to the disease's high prevalence and sufferers' increasing consumer awareness. Around 6.8 million of the approximately 147.0 million persons affected by AA live in the United States alone, according to the National Alopecia Areata Foundation. Due to an increase in the discovery of novel therapies and supportive initiatives in the approval process, the market is predicted to grow significantly over the forecast period. For instance, the US FDA granted baricitinib's Breakthrough Therapy Designation for the treatment of AA in March 2021 to Incyte Corporation and Eli Lilly and Company. The designation as a "breakthrough therapy" will speed up the approval process.
In 2021, the sector for androgenetic alopecia held the second-largest revenue share. Growing public awareness of these disorders is being fueled by proactive initiatives from groups like the American Hair Loss Association, Alopecia World, and HairMax (Lexington International), which created National Hair Loss Awareness Month. Additionally, the market expansion during the expected period is being fueled by the adoption of laser-based treatment options for AGA. Companies like Lexington Intl., LLC. (HairMax), iRestore Hair Growth System (Freedom Laser Therapy), and LUTRONIC are demonstrating cutting-edge and painless therapy solutions for treating AGA.
Over the projection period, the alopecia totalis and alopecia universalis sectors are predicted to develop at the fastest rates. The market is expected to rise during the forecast period due to rising awareness of severe forms of alopecia and an increase in research activity to discover new and efficient treatment options. Alopecia totalis and alopecia universalis affect 7 to 25% of patients with AA, according to the Genetic and Rare Diseases Information Center (GARD). Additionally, the availability of upcoming treatments for severe AA diseases, including baricitinib, deus ruxolitinib, and rociletinib, is expected to fuel the segment's expansion over the projection period..
Alopecia Market Analysis by Treatment Type
In 2021, the pharmaceutical industry dominated the market and accounted for more than 98.0 % of total sales. The segment is primarily driven by the low cost of pharmaceutical items and high consumption of prescription and over-the-counter medications. The most popular medications used to treat any form of alopecia are finasteride and minoxidil. The only medications in the United States that are licensed for the treatment of both Male Pattern Hair Loss (MPHL) and Female Pattern Hair Loss (FPHL) are finasteride and minoxidil (MPHL). Major pharmaceutical firms are also actively engaged in the discovery of novel medications to treat alopecia, which is predicted to drive the industry throughout the projection period. Examples include Lilly, Pfizer Inc., and Concert Pharmaceuticals.
During the projection period, laser-based devices used for hair regrowth are expected to experience the quickest increase. In the next 5 to 8 years, factors such as rising demand for painless treatments with few side effects and laser equipment that can be used at home will propel the market's expansion. Low-level laser therapy reduces the requirement for clinical visits while providing the convenience of at-home use. Additionally, it offers a potential non-pharmacological and non-surgical therapeutic action for hair restoration, which is predicted to cause the market to expand gradually throughout the projected time. The FDA's approval of low-level laser therapy devices like iRestore and Hairmax for the treatment of the most common types of alopecia, namely androgenetic alopecia, is expected to drive the market growth for those products during the next few years.
Alopecia Market Analysis by End Use
With a revenue share of 57.6% over the projection period, the dermatology category dominated the market. The utilisation of modern treatment techniques including laser technology, a robust product pipeline, and increased consumer awareness of the usage of prescription drugs are the key drivers of the segment's continuous growth. The consulting dermatologist is frequently regarded as the best alternative for treating alopecia due to their capacity to offer suitable personalised medications or therapy that produce positive outcomes.
Due to simplicity, usability, and patient comfort, the home care setting category will experience the fastest growth throughout the projection period. In addition, an increasing variety of home-use gadgets are receiving regulatory authorization, and non-invasive treatments like laser therapy that don't call for lifestyle adjustments are becoming more popular. For instance, the Shapiro MD hair restoration device from LifeMD, which is sold through direct-to-consumer channels and telemedicine, received FDA approval in March 2021 to encourage hair growth in men and women with androgenetic alopecia.
Alopecia Market Analysis by Gender
Due to the high prevalence of hair loss in the male population globally, the male alopecia segment led the market and generated the biggest revenue share of 53.8% in 2021. The most prevalent form of alopecia in men is androgenetic. At an average age of 50, it is believed that 50% of males have some degree of hair loss, with over 95% of cases being androgenetic in nature. Additionally, the market is expected to grow throughout the forecast period due to factors like the expanding senior population and men's increased tobacco consumption.
But over the projected period, the market for female alopecia is expected to expand at the quickest rate. The market is expected to develop as a result of greater awareness, lifestyle changes, rising PCOS rates, and a rising trend of cosmetic operations.
Alopecia Market Analysis by Sales Channel
Due to the significant number of dermatologist visits for hair loss treatment in 2021, the prescription category led the market and generated the highest revenue share of 64.9%. Around 2.6 million patients seek treatment from dermatologists for alopecia areata each year in the US, according to the National Library of Medicine. Moreover, the category is expected to develop at the quickest rate over the forecast period due to a robust product pipeline, increased disposable incomes, and an increase in the frequency of chronic conditions that ultimately cause hair loss. Whereas, the OTC segment, which is popular in developing regions and offers manufacturers a number of chances to meet the unmet medical needs of a sizable patient pool across nations like China, Japan, Mexico, Brazil, and India, is what is really driving the market. Additionally, OTC medications continue to be the preferred option of treatment for males with androgenetic alopecia and for other forms of hair loss diseases where there aren't enough approved medications, forcing patients to rely on off-label or OTC medications.
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In 2021, North America dominated the market and had the highest revenue share (36.3%). High disease prevalence, rising consumer awareness, pro-active government action, technological advancements, and improvements to the healthcare system's infrastructure all contribute to the growth. A major driver of the market's expansion is the existence of important players in this area. Additionally, the region is seeing an increase in the number of people receiving laser-based therapy to treat alopecia. The National Alopecia Areata Foundation (NAAF), the Canadian Alopecia Areata Foundation, and other government and non-profit organisations that provide guidelines and raise public awareness are also likely to have a positive effect on the market.
The market is expected to grow at the highest CAGR in Asia Pacific during the forecast period as a result of rising consumer awareness, disposable income, and product penetration in the region for alopecia. Additionally, it is expected that enhancing the healthcare regulatory environment in emerging nations will draw in foreign investors and open up new business opportunities. For instance, China's regulatory body, the China Food and Drug Administration, authorised the iGrow laser system by Apira Science in 2021, making it the country's first ever laser-based hair growth technology.
During the forecast period, Europe is also expected to hold a sizable market share. Many things, including technology developments and awareness programmes run by both governmental and commercial organisations, might be blamed for this surge. The European Hair Research Society plays a significant role in organising campaigns to raise awareness of hair loss research and efficient treatments for preventing hair loss.
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Alopecia Market Driver
Alopecia Market Restraint
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Due to rising knowledge of alopecia treatments and increased acceptance of alopecia treatment products, Asia-Pacific offers lucrative prospects for key players operating in the alopecia treatment market. Additionally, the expansion of hospitals with cutting-edge medical facilities, and improvement in healthcare infrastructure, progress in the R&D sector, an increase in healthcare reforms, and technical developments in the healthcare industry all contribute to the market's expansion.
Alopecia Market Top Player’s Company Profiles
Alopecia Market Recent Development
Alopecia can be treated with a variety of medications and surgical procedures, including hair transplantation, scalp reduction surgery, and others. The alopecia treatment market is predicted to grow significantly over the forecast period due to factors including an increase in the incidence and prevalence of chronic diseases like arthritis, Polycystic Ovary Syndrome (PCOS), cancer, and others; a change in lifestyle and an increase in stress; an increase in the population of elderly people; hormonal imbalances and unhealthy diets; and an increase in demand for alopecia treatment drugs. Additionally, during the projected period, there is expected to be attractive market expansion prospects due to the growing areas' sizable market potential.
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According to our analysis, the alopecia areata segment dominated the global Alopecia Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, North America dominated the global Alopecia Market owing to the region's increase in customer awareness and government strict regulation on plastic.
|Growth Rate||ong>US Alopecia Market is poised to grow at a sustainable CAGR for the next forecast year.%|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Alopecia Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Alopecia Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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