Alopecia Treatment (Hair Loss) Market - Growth, Trends, and Forecast (2019 - 2024)
Alopecia is a term used to describe excessive hair damage under certain medical conditions or dietary issues. A sedentary lifestyle and unhealthy diets are leading to loss of hair among masses. Furthermore, aging and hormonal imbalance, increasing chronic disease like arthritis, cancer, hypertension, depression also leads to hair loss, especially among the middle-aged population. According to the American Hair Loss Association, androgenetic alopecia accounts for over 95% of hair loss in men. Over 800 thousand patients are seeking some kind of treatment for hair loss worldwide. For the treatment of alopecia, the US FDA approved two drugs - Minoxidil, to treat hypertension and finasteride (Propecia) to treat benign prostate hyperplasia (BPH). American Hair Loss Association recommends the use of minoxidil in patients who have not responded to finasteride treatment. The prevalence rate of alopecia is high among working age population.
In recent years, many novel drugs have been approved by the regulatory bodies for the treatment of alopecia and many drugs are in pipeline, which are expected to receive approval in the near future. Concert Pharmaceuticals Inc. received fast track designation from the US Food and Drug Administration, (FDA) for its novel product for the treatment of moderate-to-severe alopecia areata in January 2018. During the same time, HCell Inc., a biotechnology company received orphan drug designation (ODD) for its product from FDA. In 2017, Perrigo Company PLC. Launched over-the-counter Women's Rogaine, which helps to regrow hair on top of the scalp. The launches of such novel products in the market is expected to drive the global alopecia treatment market growth in the near future.
Scope of the Report
As per the scope of the report, Alopecia Treatment (Hair Loss) are the drugs which are indicated for the treatment of alopecia. For instance, Minoxidil, Finasteride, and Cyclosporine.
Key Market Trends
Female is Expected to Hold Largest Share of Global Alopecia Treatment (Hair Loss) Market, Over the forecast period
About one-third of women experience hair loss (alopecia) at some time in their lives. Among postmenopausal women, as many as two-thirds suffer hair thinning or bald spots. Hair loss in women often has a greater impact than hair loss does on men, because it's less socially acceptable for them. Androgenetic alopecia is the most common cause of hair loss in women. Alopecia can severely affect a woman's emotional well-being and quality of life. Although Alopecia is more common in male than female, the female has the largest share in the market owing to the factors such as high awareness levels coupled with increased frequency of Polycystic Ovary Syndrome (PCOS) causing hormonal imbalance that leads to androgenetic alopecia.
North America Region Holds the Largest Market Share of Alopecia Treatment (Hair Loss) Market
North America dominates the Alopecia Treatment (Hair Loss) market due to the presence of technologically advanced healthcare infrastructure, high disposable income, and availability of novel therapeutics options pertaining to the treatments. According to the U.S. National Library of Medicine, Alopecia areata affects 1 in every 500 to 1,000 people in the United States. It is one of many recognized forms of alopecia, alopecia areata is the second most common form after androgenetic alopecia. Alopecia areata affects men and women equally, and it can occur in people of any ethnic background.
Therefore, the high prevalence and the proportionally high treatment rates pertaining to hair loss in the U.S. are high major drivers for the North American market.
Some of the prominent industry players operating in total Alopecia Treatment (Hair Loss) market include Sun Pharmaceuticals Industries Ltd., Aclaris Therapeutics Inc., Cipla Inc., Concert Pharmaceuticals Inc., Daiichi Sankyo Inc. Development of advanced products for better outcomes and rigorous marketing is competitive strategies adopted by market players.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
Report customization as per the client's requirements
3 months of analyst support
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook