Alopecia Treatment Market Share in Emerging Economies will witness a CAGR of 4.6% through 2026
The global alopecia treatment market size was valued at $2,736 million in 2018, and is projected to reach $3,935 million by 2026, growing at a CAGR of 4.6% from 2019 to 2026.
Alopecia, also known as hair loss or baldness, refers to hair loss from the part of head or body. The condition can happen in both female & male and at any age. There are five major kind of alopecia to be specific such as androgenic alopecia, alopecia areata, alopecia totalis, cicatricial alopecia, and telogen effluvium. Alopecia areata is an autoimmune disorder, which attacks the hair follicles and causes hair fall or breakage of hair leading to complete baldness. The cause of male-pattern alopecia and female-pattern alopecia include hormonal changes, hereditary condition, radiation therapy to the head, stress, and certain medications & supplements. Alopecia treatment plays a main role in advanced healthcare, as it helps in prevention of hair fall and regrowth of hair. Treatment for hair loss can be carried out using drugs such as minoxidil, finasteride, 5-alpha-reductase inhibitors, corticosteroids, and cyclosporine. Moreover, surgical treatments for alopecia include hair transplantation, scalp reduction, and laser therapy.
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The alopecia treatment market is expected to experience significant growth during the forecast period, owing to surge in geriatric population; rise in prevalence of alopecia conditions such as androgenic alopecia, alopecia areata, alopecia totalis, and others; and increase in prevalence of chemotherapy induced alopecia. In addition, high level of stress, hormonal imbalance, increase in consumption of alcohol & tobacco, and change in food habits further drives the market growth.
Based on drug type, the market is categorized into minoxidil, finasteride, and other drug types. Presently, minoxidil dominates the global market, and is anticipated to continue this trend during the forecast period. The key factors that drive the market growth include surge in demand for minoxidil drug for alopecia treatment; rise in prevalence of chronic diseases such as arthritis, depression, hypertension, and cancer treatment that tend to hair loss from patient body; and increase in air & water pollution that harms the health of the hair and cause baldness & early breakage.
Based on indication, the global alopecia treatment market is segmented into androgenic alopecia, alopecia areata, alopecia totalis, and others. Currently, the androgenic alopecia segment accounted for the majority of the market share, owing to rise in incidence of androgenic alopecia condition, unhealthy lifestyle, hormonal imbalance and increase in geriatric population across the globe. The alopecia totalis is fastest growing segment at a CAGR of 5.5% from 2019 to 2026, owing to rise in incidence of alopecia totalis condition, surge in patient awareness regarding the alopecia totalis disorder, and increase in geriatric population.
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North America accounted for approximately one-half of the global alopecia treatment market share in 2018 and is expected to remain dominant throughout the forecast period. This was attributed to the higher adoption of alopecia treatment products, large presence of pharmaceutical companies, well developed healthcare infrastructure, and wide availability of advanced alopecia treatment products. On the other side, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, the developing R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcare.
The Major Key Players Are:
• Capillus, LLC
• Cipla Inc.
• Daiichi Sankyo Company, Limited
• GlaxoSmithKline Plc
• Johnson & Johnson
• Merck & Co., Inc.
• Sun Pharmaceutical Industries Ltd.
• Transitions Hair
• Vitabiotics Ltd.
• Vita-Cos-Med Klett-Loch GmbH.
Key Findings of the Study:
1. Based on drug type, the minoxidil segment held more than 44.35% share in the global market in 2018.
2. By indication, the androgenic alopecia segment accounted for the largest market share in 2018, and is expected to remain dominant throughout the forecast period.
3. Based on distribution channel, the drug stores & retail pharmacies segment held 58.27% share in the global market in 2018.
4. Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 5.9% during the forecast period.
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