Rising incidences of chronic disorders such as hyperthyroidism, acute stress disorder hypopituitarism, hypothyroidism, and lupus are the major factors influencing market growth.
Market Size – USD 8.64 billion in 2018, Market Growth - CAGR of 5.1%, Market Trends –Increase in disposable income coupled with rising concern about aesthetic appearance
NEW YORK, April 25, 2019 (GLOBE NEWSWIRE) -- The Alopecia Market is expected to reach USD 12.99 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with rising predominance of chronic disorders such as hyperthyroidism, hypothyroidism, acute stress disorder, lupus, and hypo pituitarism. Moreover, increasing incidence of Hodgkin’s disease, Hashimoto’s disease, Addison’s disease, and celiac disease along with factors such as access to quick treatment are expected to drive the market growth. However, high cost of treatment and adverse side effects is expected to restrain the growth. Also, changing lifestyle such as consumption of tobacco, an increase in the use of alcohol, and other associated products, growing stress levels, and the expanding population are expected to spur the market. Increasing disposable incomes coupled with the expanding emphasis on aesthetic appearance are also likely to add to the demand for alopecia treatment worldwide.
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Hair loss, also acknowledged as alopecia or baldness refers to a loss of hair from part of the head. The typical pattern of hair loss can vary from a small area to the entire body. Scarring or inflammation is not present. Hair loss in some people may cause psychological distress. General types include female-pattern hair loss, male-pattern hair loss, alopecia areata, and a thinning of hair also known as telogen effluvium. The cause of male-pattern hair loss is a combination of male hormones and genetics, the purpose of female pattern hair loss is not clear, the use of alopecia areata is auto-immune, and the cause of telogen effluvium is mostly a psychologically or physically stressful event.
The rising number of introduction of new drugs, consumer disposable incomes, and the complementary initiatives taken by the relevant organizations namely, AHLA and NAAF, are the crucial factors for the North America region to account for the largest market share of 22.30% in 2018.
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Further key findings from the report suggest
- Androgenetic type accounts for the largest market share of 42.20% in 2018 and is estimated to reach USD 5.51 billion by 2026.
- Alopecia areata is an autoimmune skin disease identified by the hair loss on the scalp, face, and other areas of the body. Alopecia areata is segmented into totalis, patchy, and universalis further.
- The rising predominance of alopecia areata owing to autoimmune diseases such as diabetes, hyperthyroidism, and Down’s syndrome is expected to drive demand over the forecast period.
- Increasing predominance coupled with rising awareness regarding aesthetic appeal and physical appearance is also assumed to drive the growth in the next few years.
- Male-Pattern Hair Loss (MPHL) or Androgenetic alopecia is associated with various medical conditions such as diabetes, coronary heart disease, obesity, prostate cancer, hypertension, and Polycystic Ovary Syndrome (PCOS).
- Also, the availability of treatments such as oral treatments, licensed topical treatments involving the use of finasteride and minoxidil; and surgical procedures such as hair replacement and transplantation are expected to drive the market.
- Laser treatments are also becoming common for non-invasive approach. Such non-invasive treatment approaches are also likely to drive the androgenetic segment.
- Alopecia areata accounts for a market share of 39.30% in 2018.
- Dermatology clinics coupled with innovative technologies and prescription hair care products help many affected individuals fight their condition.
- Consultation with dermatologists is regarded as the best option for the treatment, as they prescribe suitable medication or therapy for effective results. These factors are responsible for high need of dermatology clinics for hair loss treatment.
- Dermatology clinics are valued at USD 4.69 billion in 2018 and are anticipated to grow at a fruitful rate over the forecast period.
- Asia Pacific is forecasted to witness the fastest CAGR of 5.4% during the forecast period. A vast population suffering from alopecia and growing awareness about the available therapeutic options are the key growth drivers.
- Economic development coupled with continually increasing per capita healthcare investment in emerging countries such as India, China, and Singapore is expected to create high growth opportunities.
- Key participants include Cipla Inc., Johnson and Johnson AG, Transitions Hair Pty Ltd., Sun Pharmaceutical Industries Ltd., Merck & Co., Inc., Cirrus Hair Centers, Lexington International LLC, Vita-Cos-Med Klett-Loch GmbH, Follica, Inc., and Capillus.
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For the purpose of this study, Reports and Data have segmented the global Alopecia Market on the basis of Disease, Gender, application, Sales distribution and region:
Disease Outlook (Revenue, USD Million; 2016-2026)
- Alopecia Areata
- Androgenetic Alopecia
- Others
Sales distribution Outlook (Revenue, USD Million; 2016-2026)
- Prescriptions
- OTC
Application Outlook (Revenue, USD Million; 2016-2026)
- Homecare Settings
- Dermatology Clinics
Gender Outlook (Revenue, USD Million; 2016-2026)
- Female
- Male
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- South-east Asia
- Latin America
- Brazil
- MEA
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