The global alopecia market size was USD 9,910.60 Million in 2021 and is expected to register a rapid revenue CAGR of 7.0% during the forecast period. Technological advancements in alopecia treatment, increasing prevalence of hair loss, and rise in prevalence of chronic diseases associated with hair loss are major factors driving market revenue growth. There are two FDA-approved alopecia treatments, Rogaine and Propecia. There has been an increase in generic market penetration due to expiration of both drugs’ patents. However, launch of several promising pipeline candidates, such as Xeljanz (tofacitinib), Breezula (clascoterone), Jakafi (ruxolitinib), SM04554, and Lumigan (Bimatoprost), will also drive revenue growth of the market during the forecast period. In addition, introduction of low-level laser therapy to stimulate hair growth is expected to increase number of patients treated for hair loss. Moreover, introduction of laser caps, helmets, combs, and bands will drive market revenue growth. Some of the technologically advanced products in the market include Capillus Laser Cap, iGrow Laser Helmet, iRestore Hair Growth System, and Hairmax Laser devices.
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Market Dynamics:
Driver: Growing prevalence of hair loss
According to the American Academy of Dermatology Association (AAD), approximately 50 million men and 30 million women in the U.S. were estimated to have some form of alopecia in 2022. According to data published in Journal of Clinical and Diagnostic Research (JCDR), approximately 60% of population suffers from hair thinning, with pattern hair loss being the most common type of hair loss in both males and females. Furthermore, irrespective of gender, approximately 2% of global population is at risk of developing alopecia areata in their lifetime.
Restraints: Stringent regulations for product approval
Product approval process must go through several steps and prerequisites. It is mandatory for drug producers and manufacturers to conduct tests on animals, humans, or in laboratories before sending their sample for initial steps of product approval and submitting their entire data to relevant agency. In addition, Over-The-Counter (OTC) products are extremely important in the product approval process, hence an OTC monograph must be followed by any product or drug. Marketing a new drug that has not been approved is considered an unapproved new drug.
There are numerous products and drugs in the market for treating alopecia diseases, but only a few make it through the lengthy approval process. Furthermore, because new drugs are approved after critical testing and data transmission, compounded drugs are not approved. Manufacturers of drug establishments must register with FDA or another legitimate agency depending on the region to provide the list and ingredients of their products, as well as product specifications; however, neither listing nor registration passes threshold limit to designate FDA approval of their product establishments. Because of new innovations and technological advancements, this product has several variations and each change/variation must go through the approval process.
Key Takeaways:
Type Outlook:
Based on type, the global alopecia market is segmented into pharmaceuticals, LLLT devices, hair transplant, regenerative medicine, and others. The pharmaceuticals segment accounted for a significant revenue share in 2021. Pharmaceutical medications are frequently used to treat alopecia since they are more affordable than other treatment alternatives and easily accessible. Pharmaceuticals are available in a variety of dosage forms including topical, oral, and injectable, while topical version is more favored because it is more readily available and has fewer negative effects. For example, topical Minoxidil, such as rogaine, is frequently used and sold over-the-counter. It works by prolonging hair follicles’ growth phase and encouraging them to generate hair. Further, Patients who are losing their hair quickly and extensively may occasionally be offered oral corticosteroids. Long-term treatment is not advised due to the possibility of major adverse effects, even though these medications may decrease hair loss and encourage regeneration. These are a few of the most important factors driving market growth.
Disease Type Outlook:
Based on disease type, the global alopecia market is segmented into alopecia areata, telogen effluvium, frontal fibrosing alopecia, lichen planopilaris, folliculitis decalvans, androgenetic alopecia, and others. The androgenetic alopecia segment is projected to account for a significantly large revenue share during the forecast period. A prevalent cause of hair loss in both men and women is androgenetic alopecia. This issue in men is also known as male-pattern baldness, in which above both temples, hair starts to fall out in a distinct pattern. The hairline gradually recedes to take on a distinctive “M” shape. In addition, hair thinning occurs towards the top of head’s crown, which frequently leads to partial or total baldness. Hair loss in both men and women is frequently caused by androgenetic alopecia. In the U.S., this type of hair loss is estimated to affect 30 million women and 50 million men. Over 50% of males over the age of 50 experience some degree of hair loss and androgenetic alopecia can begin as early as a person’s teen years. Moreover, hair loss in women is most likely to occur after menopause. Treatments, such as, 5-alpha reductase inhibitors and minoxidil, are most commonly used. Furthermore, other current treatment options include laser therapy, scalp micro needling, hair mesotherapy, and hair transplantation. However, development of new pharmacologic therapies has been relatively slow.
Gender Outlook:
Based on gender, the global alopecia market is segmented into male and female. The male segment is projected to account for a significant revenue share over the forecast period, as hair loss affects a large percentage of men globally. The most typical type of alopecia in males is androgenetic. According to American Hair Loss Association, over 95% Male Pattern Baldness (MPB) cases are caused by androgenetic alopecia and by the age of 35, two-thirds of American men experience noticeable hair loss, while by the age of 50, about 85% of men experiences considerably thinned hair. Approximately 25% of men who have male pattern baldness start the painful process before they turn 21 years old. Moreover, factors such as increased amount of tobacco intake in men and rising geriatric population, will drive revenue growth of this segment over the forecast period.
Route of Administration Outlook:
Based on route of administration, the global alopecia market is segmented into topical, oral, and injectable. The injectable segment accounted for a significantly large revenue share in 2021. The most popular method of treating alopecia areata involves injecting corticosteroids with a tiny needle into bare patches of skin. This procedure is known as intralesional corticosteroid injections. These injections are typically administered by a dermatologist and are repeated every four to six weeks. In addition, appearance of new hair following corticosteroid treatments typically takes four weeks. The only documented negative effects of this type of treatment is brief depressions in the skin (referred to as “dells”) caused by injections.
Age Group Outlook:
Based on age group, the global alopecia market is segmented into <18 years, 18-34 years, 35-49 years, and >50 years. Several common and uncommon disorders that can be congenital or acquired can cause hair loss in children and teenagers who are 18 years old or younger. Tinea capitis, alopecia areata, and trauma brought on by traction or trichotillomania and telogen effluvium are the most typical causes of alopecia. For instance, preadolescent children are more likely to develop Tinea capitis, a common illness. According to estimates, 4%–13% have positive fungal cultures. In addition, according to a study published in the Australian Journal of General Practice (AJGP), trichotillomania affects 0.6% of college students over the course of their lifetimes. Hair loss caused by tugging and plucking that did not meet the criteria in Diagnostic and Statistical Manual of Mental Disorders was reported by 1.5% of men and 3.4% of women in the survey.
Regional Outlook:
Based on regional analysis, the North America market is expected to register a significant revenue growth during the forecast period, owing to aging population, rising concerns about hair loss, rising prevalence of alopecia, consumers’ transition to organic or chemical-free products, and rising personal care spending. For instance, in June, 2020, Follica, Inc., a biotechnology company creating a regenerative platform to treat androgenetic alopecia and other related disorders, revealed favorable Food and Drug Administration (FDA) response for its FOL-004 Phase II launched in December 2022. The company advanced its lead program, FOL-004, into Phase III development as a result of a successful safety and efficacy optimization trial for treatment of male androgenetic alopecia.
The Europe market is anticipated to register a significant revenue growth during the forecast period as a result of increased chronic disease rates and difficulties with hair loss. For instance, according to 2020 data, Men’s Health Forum, estimates that over two-thirds of men in the UK would eventually develop male pattern baldness, meaning that 7.4 million men are now dealing with hair loss. In addition, the market is also being driven by increase in number of research projects being conducted in pharmaceutical or medical fields, rise in demand for over-the-counter dietary supplements, and growing acceptance and accessibility of Over-The-Counter (OTC) drugs in addition to dietary supplements. Moreover, patients’ interest in novel and emerging treatment modalities for alopecia is being increased by growing popularity of cosmetic operations as a result of increased emphasis on enhancing aesthetic appearance. This factor is expected to further drive market revenue growth of this region.
Competitive Landscape:
The alopecia market is moderately competitive in nature, with large number of emerging as well as established market players. The major players in the alopecia market are Merck & Co., Johnson & Johnson, Cipla Inc., Sun Pharmaceutical Industries Ltd., GlaxoSmithKline Plc, Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma, Lexington Intl., LLC., Hcell Inc., Pfizer Inc., and among others. Various strategies, such as mergers, acquisitions, or collaborations, are being incorporated by these market players to maintain strong foothold in the market.
- On 15 January 2022, HCell Inc., a biotechnology company based in Austin, Texas, focusing on Alopecia Areata in pediatric population, announced that the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation (ODD) to HC017AA for treatment of pediatric patients with Alopecia Areata, a devastating hair loss disease
This report offers historical data points and forecasts and revenue growth at a global, regional, and country-level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2022 to 2030.
For this study, Reports and Data has segmented the global alopecia market based on type, disease type, gender, route of administration, age group, distribution channel, end-use, and region:
Alopecia Market Report Scope
Segments covered By Type Outlook, Disease Type Outlook, Gender Outlook, Route of Administration Outlook, Age Group Outlook, Distribution Channel Outlook, End-use Outlook, Regional Outlook
By Type Outlook
Pharmaceuticals
Finasteride
Minoxidil
Corticosteroid
Methotrexate
JAK Inhibitors
Dutasteride
Other medication
LLLT Devices
Hair Transplant
Regenerative Medicine
Others
Shampoo and Conditioner
Supplements
By Disease Type Outlook
Androgenetic Alopecia
Alopecia Areata
Telogen Effluvium
Frontal Fibrosing Alopecia
Lichen Planopilaris
Folliculitis Secalvans
Other Disease Type
By Gender Outlook
Male
Female
By Route of Administration Outlook
Topical
Oral
Injectable
By Age Group Outlook
<18 years
18-34 years
35-49 years
>50 years
By Distribution Channel Outlook
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Other Distribution Channel
By End-use Outlook
Homecare Settings
Dermatology Clinics
Wellness Clinics
Other End-uses
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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