Dublin, Aug. 11, 2021 (GLOBE NEWSWIRE) -- The "Alopecia Market Size, Share & Trends Analysis Report by Disease Type (Alopecia Areata, Cicatricial, Traction, androgenetic Alopecia), by Treatment, by Gender, by Sales Channel, by End-use, by Region, and Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global alopecia market size is expected to reach USD 14.2 billion by 2028 and is expected to expand at a CAGR of 8.1%
The strong presence of pipeline products and increasing approval for laser-based therapy to treat hair loss conditions are major factors anticipated to drive growth. Moreover, rising awareness among patients about alopecia and its treatments, increasing government initiatives, supportive regulations & laws, and improvements in healthcare infrastructure are factors expected to propel market growth over the forecast period.
Technological advancements in alopecia treatment are among the key drivers of this market. There are two FDA-approved therapeutics for alopecia-Rogaine and Propecia. There has been an increase in market penetration of generics after patent expiries of both drugs. However, the launch of several promising pipeline candidates over the forecast years such as Xeljanz (tofacitinib), Breezula (clascoterone), Jakafi (ruxolitinib), SM04554, and Lumigan (Bimatoprost) is expected to substantially drive the growth of the market in the near future.
The introduction of low-level laser therapy that helps stimulate hair growth is expected to increase the treatment rate among patients facing hair loss. In addition, the launch of laser caps, helmets, combs, and bands is also anticipated to boost the market growth. For instance, Capillus Laser Cap, iGrow Laser Helmet, iRestore Hair Growth System, and Hairmax Laser devices are some of the technologically advanced products available in the market.
Moreover, the increasing prevalence of diseases such as cancer, Polycystic Ovary Syndrome, and rheumatoid arthritis which are associated with hair loss is also expected to boost the treatment rate of hair loss in the near future. For instance, as per the U.S. Department of Health and Human Services, nearly 5 million women in the U.S. are affected by PCOS. Furthermore, according to the GBD database, the prevalence of PCOS in European countries, such as France, increased from 872,351 to 882,322 in 2018 & 2019, respectively, and in the U.K., the prevalence was found to be 1,134,082 to 1,142,498.
Market players are increasingly forming partnerships and licensing agreements to enhance their product capabilities and promote the outreach of their products. For instance, the iGrow laser system has a partnership with China Central Pharmaceuticals in China. China Central Pharmaceuticals holds exclusive distribution rights over Aspira in the country.
Moreover, Capillus, LLC has collaborated with Svenson, a hair loss treatment clinic to expand the distribution of laser therapy caps in Europe and Asia Pacific region. The partnership with local players and service providers is expected to increase the adoption of innovative therapy for hair loss treatment.
Additionally, companies are actively participating in scientific conferences and conducting awareness campaigns for creating brand awareness.
For instance, in February 2021, Hairmax welcomed Mary Brunetti as the brand ambassador to increase brand awareness about dealing with COVID-19-induced hair loss, as well as hereditary loss. Moreover, it plans to leverage the popularity of the brand ambassador to showcase its target market as to how its products can help regrow and revitalize their hair.
However, reimbursement remains one of the major challenges in this market. Since most of the treatment modalities are considered as not medically essential and are categorized as cosmetic procedures, the treatment for hair loss is generally not covered under insurance plans. Out-of-pocket expenses for alopecia treatment usually include prescription drug copays, frequent doctor visits, and co-insurance for procedures.
Moreover, increasing adoption of substitutes, such as traditional medicines-Ayurvedic, Chinese, and herbal medications may hamper the growth of the market. Based on results from the GlaxoSmithKline plc sponsored survey, around 22.7% of the patients took Chinese medications for treating male androgenetic alopecia in South Korea followed by Taiwan with 22.0% patients.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Alopecia Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Increasing global prevalence of alopecia
3.3.1.2 Increasing global healthcare expenditure
3.3.1.3 Increasing prevalence of chronic diseases
3.3.1.3.1 PCOS
3.3.1.3.2 Cancer
3.3.1.3.3 Rheumatoid Arthritis
3.3.1.4 Technological advancements in alopecia treatment
3.3.2 Market restraint analysis
3.3.2.1 Lack of reimbursement policies for alopecia treatment
3.3.2.2 Increasing adoption of substitutes
Chapter 4 Alopecia Market: Segment Analysis, By Disease Type, 2017 - 2028 (USD Million)
4.1 Alopecia Market: Disease Type Movement Analysis
4.2 Market Size & Forecasts and Trend Analyses, 2017 to 2028
4.2.1 Alopecia Areata
4.2.2 Cicatricial Alopecia
4.2.3 Traction Alopecia
4.2.4 Alopecia Totalis
4.2.5 Alopecia Universalis
4.2.6 androgenetic Alopecia
Chapter 5 Alopecia Market: Segment Analysis, By Treatment, 2017 - 2028 (USD Million)
5.1 Alopecia Market: Treatment Movement Analysis
5.2 Market Size & Forecasts and Trend Analyses, 2017 to 2028
5.2.1 Pharmaceuticals
5.2.2 Devices
5.2.2.1 Devices market, 2017 - 2028 (USD Million)
5.2.2.1.1 LaseMD + LaseMD Ultra market, 2017 - 2028 (USD Million)
5.2.2.1.2 iRestore Essential + Professional market, 2017 - 2028 (USD Million)
5.2.2.1.3 HairMax Laser cap market, 2017 - 2028 (USD Million)
5.2.2.1.4 HairMax Laser band market, 2017 - 2028 (USD Million)
5.2.2.1.5 HairMax Laser Comb market, 2017 - 2028 (USD Million)
5.2.2.1.6 Capillus Laser Cap market, 2017 - 2028 (USD Million)
5.2.2.1.7 iGrow Laser Helmet market, 2017 - 2028 (USD Million)
5.2.2.1.8 Revian Red Helmet market, 2017 - 2028 (USD Million)
5.2.2.1.9 Theradome Helmet market, 2017 - 2028 (USD Million)
Chapter 6 Alopecia Market: Segment Analysis, By Gender, 2017 - 2028 (USD Million)
6.1 Alopecia Market: Gender Movement Analysis
6.2 Market Size & Forecasts and Trend Analyses, 2017 to 2028
6.2.1 Male
6.2.2 Female
Chapter 7 Alopecia Market: Segment Analysis, By Sales Channel, 2017 - 2028 (USD Million)
7.1 Alopecia Market: Sales Channel Movement Analysis
7.2 Market Size & Forecasts and Trend Analyses, 2017 to 2028
7.2.1 Prescriptions
7.2.2 OTC
Chapter 8 Alopecia Market: Segment Analysis, By End Use, 2017 - 2028 (USD Million)
8.1 Alopecia Market: End Use Movement Analysis
8.2 Market Size & Forecasts and Trend Analyses, 2017 to 2028
8.2.1 Homecare Settings
8.2.2 Dermatology Clinics
Chapter 9 Alopecia Market: Segment Analysis, By Region, 2017 - 2028 (USD Million)
9.1 Alopecia Market: Regional Movement Analysis
9.2 Regional Market Share Analysis, 2020 & 2028
9.3 Regional Market Snapshot
9.4 Market Size, & Forecasts, Revenue and Trend Analysis, 2017 to 2028
Chapter 10 Alopecia Market: Competitive Analysis
- Cipla, Inc.
- Sun Pharmaceuticals Industries Ltd.
- Johnson & Johnson Services, Inc.
- Merck & Co., Inc
- Lexington Intl., LLC
- Cirrus Hair Centers
- Vita-Cos-Med Klett-Loch GmbH
- Transitions Hair
- Follica, Inc.
- Capillus
- Lexington Intl., LLC.
- Freedom Laser Therapy (iRestore ID-520 helmet)
- Curallux, LLC.
- Apira science Inc. (iGROW Laser)
- Revian Inc.
- Theradome
- lutronic
For more information about this report visit https://www.researchandmarkets.com/r/7vpx3p
