Pune, India, Feb. 09, 2023 (GLOBE NEWSWIRE) -- As pe research by Fortune Business Insights, the market for Hair Loss Treatment is growing, driven by factors such as increasing prevalence of hair loss and baldness, rising consumer awareness of hair loss treatments, and increasing investment in research and development of new treatments. There are a variety of hair loss treatments available, including over-the-counter (OTC) products, prescription medications, and surgical procedures.
OTC products, such as minoxidil and finasteride, are popular hair loss treatments and are widely available without a prescription. Prescription medications, such as spironolactone and dutasteride, are also used to treat hair loss and are typically prescribed by a doctor. Surgical procedures, such as hair transplants and scalp reductions, are more invasive and typically reserved for severe cases of hair loss.
The global hair loss treatment market is expected to grow significantly in the coming years, driven by factors such as increasing incidence of hair loss and baldness, growing consumer awareness of hair loss treatments, and increasing investment in research and development of new treatments. In addition, the increasing popularity of hair restoration surgeries, especially among young people, is expected to drive growth in the market. However, the high cost of hair restoration surgeries, the limited availability of hair transplant surgeons, and the risk of side effects associated with some hair loss treatments are expected to limit market growth to some extent.
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KEY INDUSTRY DEVELOPMENTS-
In Dcember 2018, Hairclone declared the introduction of cell replacement theraphy to help people with bald hair.
In April 2019, Phyto announced the launch of its new hair loss range which is focusing on new growth machanisim
The elderly population is more prone to dealing with various types of hair issues including hair loss is acting as a driving factor for the market growth. For instance, according to the data issued by the World Population Aging 2019 Report, is stating that in 2019 there is an estimation of 703 million people to be at the age of 65 years and above in the world. The rising growth of spending made on healthcare products by various countries around the world is likely to fuel the consumption rate. For instance, according to the data issued by Health Affairs.Org, March 2020, is declaring that the national health spending of the United States is estimated to rise at 5.4 percent on a yearly basis. Nevertheless, the high cost of professional hair treatment repelling a large number of people especially from developing and underdeveloped countries is thus hampering the market growth.
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Hair Loss Treatment Market Regional Growth:
The hair loss treatment market is growing globally, but the growth rate and market size vary by region. Some of the key regional markets for hair loss treatment include:
North America: North America is a mature market for hair loss treatment, with a large and well-established consumer base. The market is driven by factors such as increasing awareness of hair loss treatments and growing demand for minimally invasive treatments.
Europe: Europe is a significant market for hair loss treatment, driven by factors such as increasing prevalence of hair loss, growing consumer awareness of hair loss treatments, and increasing investment in research and development.
Asia-Pacific: The Asia-Pacific region is expected to see significant growth in the hair loss treatment market in the coming years, driven by factors such as increasing disposable incomes, growing awareness of hair loss treatments, and increasing investment in research and development.
Latin America: The hair loss treatment market in Latin America is growing, driven by factors such as increasing disposable incomes and growing awareness of hair loss treatments.
Middle East and Africa: The hair loss treatment market in the Middle East and Africa is growing, driven by factors such as increasing disposable incomes and growing awareness of hair loss treatments.
The hair loss treatment market is highly competitive, with a large number of players operating in the market. Companies are focusing on the development of new and innovative treatments, as well as expanding their presence in international markets, in order to maintain their competitive position.
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Hair Loss Treatment Market Growth factors :
- Rising incidence of hair loss and baldness: The increasing prevalence of hair loss and baldness is one of the main drivers of the hair loss treatment market. This can be attributed to factors such as genetics, hormonal changes, and environmental factors.
- Growing consumer awareness of hair loss treatments: The growing awareness of hair loss treatments, both among consumers and healthcare professionals, is driving demand for hair loss treatments. Consumers are becoming more informed about the various treatments available and are more willing to seek treatment for hair loss.
- Increasing investment in research and development: Companies are investing more in research and development of new hair loss treatments, which is driving growth in the market. New treatments are being developed to address the root causes of hair loss and provide more effective solutions.
- Growing popularity of hair restoration surgeries: Hair restoration surgeries, such as hair transplants and scalp reductions, are becoming more popular and are contributing to the growth of the hair loss treatment market. Hair restoration surgeries offer a permanent solution to hair loss and are increasingly being sought after by young people.
- Growing demand for minimally invasive treatments: The demand for minimally invasive hair loss treatments, such as topical medications and low-level light therapy, is growing as consumers look for less invasive solutions to hair loss. These treatments are less painful and carry fewer risks than surgical procedures.
- Increasing acceptance of hair loss treatments: There is a growing acceptance of hair loss treatments, as society becomes more accepting of cosmetic procedures and treatments for hair loss. This is contributing to the growth of the hair loss treatment market.
KEY PLAYERS COVERED:
Sun Pharmaceutical Industries Ltd, Lexington International LLC, Johnson and Johnson Services, Inc, Vita-Cos-Med Klett-Loch GmbH, and others are the key companies operating in the hair loss treatment market.
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Segmentation :
By End-Use
- Home Care Setting
- Dermatology Clinics
By Gender
- Male
- Female
By Sales Channel
- Online Stores
- Retail Stores
By Geography
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Middle East & Africa (South Africa, UAE, and Rest of ME&A)
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