New York, United States , March 09, 2023 (GLOBE NEWSWIRE) -- The Global Alopecia Market Size to grow from USD 7.1 billion in 2021 to USD 13.7 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period. Some of the key reasons propelling the market include the rising incidence of chronic disorders linked to hair loss, technological improvements in the treatment of alopecia, and the rising prevalence of alopecia. Market revenue growth is primarily driven by factors such as rising prevalence of androgenic and areata alopecia, growing awareness and technological advancement regarding alopecia treatment, and increasing prevalence of hair loss.
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Alopecia areata is also known as spot baldness. Loss of hair on all or some body parts is a medical condition. As a result, people frequently get a few bald spots on their scalps. A spot often measures the same as a cent. On rare occasions, the hair on the head or body may fall out permanently. The autoimmune condition known as alopecia areata is brought on by a decline in the immunity of hair follicles. The risk of acquiring alopecia areata is increased if there is a family history of the condition. The loss of the hair follicle causes the body to lose the ability to recognise its own cells, which is the mechanism. Although there is no known cure for the problem, different medications are being researched to promote regeneration, including cortisone injections, sunscreen to shield the affected area from the sun and cold, and eyewear if the eyelashes have been lost or damaged. This condition is also referred to as male-pattern baldness in men. Both sexes frequently have another type of androgenetic alopecia. In this case, hair loss is made explicit. The rising incidence of alopecia is largely attributable to altered lifestyle choices such excessive alcohol and tobacco use as well as increased stress levels. The hereditary component is assumed to be one of the disease's causes and is associated to several instances of alopecia, despite the fact that the disease's epidemiology is unknown. Also, it is projected that the market for alopecia products would expand as a result of rising disposable income and a rising emphasis on appearances. Ageing and anomalies considerably raise the demand for alopecia treatment. The rise of the market can be hampered by increasing the usage of traditional treatments such as Ayurvedic, Chinese, and indigenous medicines.
The Alopecia Areata segment is dominating the market with the largest market share.
On the basis of disease type, the Alopecia Market is segmented as Alopecia Areata, Androgenetic Alopecia and Others. Among these, the alopecia areata segment is dominating the market with the largest market share over the forecast period. The prevalence of diseases worldwide and rising consumer awareness of available treatments are contributing causes to the rise. Moreover, autoimmune illness sufferers are more susceptible to developing alopecia.
Browse 333 market data Tables and 110 Figures spread through 200 Pages and in-depth TOC on “Global Alopecia Market Size, Share, and COVID-19 Impact Analysis, By Disease (Alopecia Areata, Androgenetic Alopecia and Others), By Sales Channel (Prescriptions, OTC), By Gender (Male, Female), By End User (Homecare Setting and Dermatology Clinics), By Treatment Type (Pharmaceuticals, Devices), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”. Get Detailed Description For This Report.
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The Prescriptions segment to dominate the market with the largest market share over the forecast period.
Based on the sales channel, the global alopecia market is segmented into prescriptions and OTC. Among these, the prescription segment is going to dominate the market over the forecast period. The availability of medicines, the cost-effectiveness of treatments, and the expanding number of medication approvals are some of the factors driving the growth of certain markets.
The male segment accounted the largest share over the forecast period.
On the basis of gender, the global alopecia market is categorized into male and female. Among these, the male segment accounted the largest share over the forecast period. A number of variables, including gender because androgen also causes androgenic alopecia in men, the growing global elderly population, and a rise in cigarette consumption, are driving the growth of the male market.
The Dermatology segment is dominating the market with the largest market share.
On the basis of end user, the global alopecia market is segmented into Homecare Setting and Dermatology Clinics. Among these, the dermatology segment is dominating the market with the largest market share. The primary factors influencing the segment's ongoing growth are modern treatment methods like laser technology, a strong product pipeline, and growing public awareness of the use of prescription medications. The consulting dermatologist is generally regarded as the greatest option for treating alopecia because of their ability to provide suitable, individually tailored drugs or therapy that yields positive results.
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The Pharmaceutical segment to dominate the market over the forecast period.
On the basis of treatment type, the global alopecia market is segmented into pharmaceuticals, devices. Among these, the pharmaceuticals segment is going to dominate the market over the forecast period. The segment is primarily driven by the low cost of pharmaceutical products and rising usage of over the counter and prescription pharmaceuticals. Finasteride and minoxidil are the two most widely used drugs to treat alopecia. Due to the active involvement of major pharmaceutical companies like Lilly, Pfizer Inc., and Concert Pharmaceuticals in the discovery of novel pharmaceuticals to treat alopecia, the category is anticipated to increase throughout the course of the projected period.
North America is dominating the market with the largest market share over the forecast period.
Among all other regions, North America is dominating the market with the largest market share over the forecast period. The expansion is attributed to a number of factors, including a high prevalence of diseases, rising consumer awareness, proactive government policies, technology advancements, and better healthcare infrastructure. The presence of significant players in this field is one of the primary forces driving the market's expansion. Also, as more people employ laser-based therapy to cure their alopecia, the region's treatment rate for the ailment is increasing.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Aclaris Therapeutics, Inc., Fagron, Follicum AB, Cipla Inc., Arcutis Biotherapeutics, Dr. Reddy’s Laboratories Ltd., Himalaya Wellness Company, Eli Lilly and Company, GlaxoSmithKline plc; Aurobindo Pharma; Mylan N.V. (Viatris Inc.), Concert Pharmaceuticals Inc., and Teva Pharmaceutical Industries Ltd.
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