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Alopecia Treatment Market

The alopecia treatment market is expected to grow at a CAGR of 7% during the forecast period of 2022 to 2030. An increase in the prevalence of chronic diseases such as depression, hypertension, arthritis, and cancer treatment that tend to cause hair loss in patient’s body; a rise in demand for minoxidil drugs for the treatment of alopecia, and an increase in air and water pollution that harms the health of the hair and causes baldness and early breakage are the primary factors that drive the growth of the market. Due of the high illness prevalence and increasing consumer awareness among patients, the alopecia areata category dominated the market and held the greatest revenue share of 35.2% in the year 2020. Alopecia areata affects over 6.8 million people in the United States alone, according to the National Alopecia Areata Foundation, which estimates that AA affects approximately 147.0 million people worldwide. It is projected that the segment would see a high growth rate over the course of the forecast period as a result of an increase in the creation of novel therapies as well as favorable efforts in the approval process. For instance, the United States Food and Drug Administration (FDA) granted the Breakthrough Therapy Designation for the use of baricitinib in the treatment of AA to Incyte Corporation and Eli Lilly and Company in March of 2020. The Breakthrough Therapy Designation will be beneficial in speeding up the approval process.

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Androgenetic alopecia, alopecia areata, alopecia totalis, and other types are covered. Androgenetic alopecia accounted for the majority of income in 2021 due to causes such as the condition’s growing occurrence, hormone imbalance, bad lifestyle choices, and more patient understanding of alopecia therapies. Over the forecast period, alopecia totalis and universalis will rise at the highest CAGR during the forecast period of 2022 to 2030. Over the forecast period, market growth is expected to be driven by increased awareness of severe alopecia and research initiatives targeted at creating unique and effective treatment alternatives. 7 to 25% of those with alopecia areata have alopecia totalis or universalis, according to GARD. The availability of drugs in the pipeline to treat severe AA disorders, such as baricitinib, deuruxolitinib, and ritlecitinib, is expected to fuel this category’s growth during the projection period.

In 2021, dermatology and hair care clinics contributed approximately to over 58% of total revenues. The continuous growth of the market is driven by the development of cutting-edge treatment modalities, such as laser technology, a solid product pipeline, and improved consumer awareness of prescription drugs. Because of its ease of use, patient comfort, and convenience, the home care setting market segment is predicted to grow at the fastest pace during the forecast period. Regulatory licenses for home-use devices are increasing, as is the usage of non-invasive therapies like laser therapy, which do not need lifestyle changes.

Due to the increasing occurrence of male baldness, male alopecia accounted for 55% of the market in 2021. Androgenetic alopecia is most common in men. Half of the males will develop hair loss by age 50, with androgenetic alopecia accounting for 95% of cases. Despite this, the market for female alopecia treatments is expected to grow fastest during the forecast period. Greater understanding, lifestyle changes, increasing PCOS levels, and a growing trend of cosmetic surgeries are expected to increase opportunities in the female alopecia treatment market.

The prescription sector accounted for 65% of market revenue in 2021. According to the National Library of Medicine, 2.6 million outpatients seek treatment for alopecia areata each year. A robust product pipeline increased disposable incomes, and the frequency of chronic disorders that cause hair loss are likely to fuel the segment’s expansion over the forecast period. Over-the-counter (OTC) medications are widely used in developing economies, where market participants discover chances to address the unmet medical needs of a huge patient pool in China, Japan, Mexico, Brazil, and India. Over-the-counter (OTC) pharmaceuticals remain the treatment of choice for guys with androgenetic alopecia and other hair loss conditions when there are few approved drugs, causing customers to rely on off-label or OTC remedies. OTC, therefore, is expected to be the fastest growing market.

As more young adults seek treatment for alopecia, the 18-to-34-year-old population is expected to dominate the market. This age range usually has alopecia areata, the first stage. This age bracket is more prone to seek rapid therapy to avoid hair loss. This market segment held the most shares in 2021 and is expected to do so over the projection period.

Europe dominated the global market for alopecia therapies in 2021. North America had 20% of the alopecia therapy market in 2021. As more people are aware of alopecia treatments and using alopecia products, the Asia-Pacific area presents profitable possibilities to top alopecia treatment companies. The growth of the R&D industry, the number of healthcare reforms, the rise in hospitals with modern medical facilities, and technical advances in healthcare all contribute to the market’s growth. High population and disposable incomes would likely drive the alopecia treatment industry in Asia-Pacific. Leading manufacturers are focusing more on growing their regional presence in emerging Asia-Pacific, which will drive the market’s CAGR from 2022 to 2030.

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The alopecia treatment market is fragmented due to the diversity of companies and solutions available in the market. No single business controls the bulk of this market’s share. Alopecia therapies include injectables, oral and topical medications, and hair restoration. Market share concentration is likely to be low and grow steadily throughout the forecast period. Aclaris Therapeutics, Inc., Follicum, Fagron, Capillus, LLC, Cipla Inc., Daiichi Sankyo Company, Limited, GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Transitions Hair, Vitabiotics Ltd., and Vita-Cos-Med Klett-Loch GmbH are some of the key players in this market.

Key Market Trends

  • The alopecia treatment market is expected to grow at a CAGR of 7% during the forecast period of 2022 to 2030.
  • Androgenetic alopecia accounted for the majority of income in 2021.
  • Over the forecast period, alopecia totalis and universalis will rise at the highest CAGR during the forecast period of 2022 to 2030.
  • In 2021, dermatology and hair care clinics contributed approximately to over 58% of total revenues.
  • Because of its ease of use, patient comfort, and convenience, the home care setting market segment is predicted to grow at the fastest pace during the forecast period.
  • Due to the increasing occurrence of male baldness, male alopecia accounted for 55% of the market in 2021.
  • The market for female alopecia treatments is expected to grow fastest during the forecast period.
  • The prescription sector accounted for 65% of market revenue in 2021.
  • OTC is expected to be the fastest-growing market.
  • As more young adults seek treatment for alopecia, the 18-to-34-year-old population is expected to dominate the market.
  • Europe dominated the global market for alopecia therapies in 2021.
  • North America had 20% of the alopecia therapy market in 2021.
  • Asia-Pacific, which will drive the market’s CAGR from 2022 to 2030.
  • The alopecia treatment market is fragmented due to the diversity of companies and solutions available in the market.
  • Aclaris Therapeutics, Inc., Follicum, Fagron, Capillus, LLC, Cipla Inc., Daiichi Sankyo Company, Limited, GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Transitions Hair, Vitabiotics Ltd., and Vita-Cos-Med Klett-Loch GmbH are some of the key players in this market.

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