Alopecia Market Overview:

The global market for alopecia was valued at USD 8,346.6 million in 2021. It is expected to grow at a 7.6% CAGR, between 2023 and 2032.

Market growth is being driven by the increasing incidence of hair loss, technological advances in alopecia treatment, and the rising prevalence of chronic diseases associated with hair loss. The American Hair Loss Association published data that showed that androgenetic hair loss is responsible for over 90%.

Global Alopecia Market Scope:

Disease Type Analysis

Alopecia areata was the dominant segment of the market, with a 36.8% revenue share in 2021. This is due to high disease prevalence and increasing consumer awareness. This segment is expected to grow significantly over the forecast period due to the increase in novel therapy development and favorable approval processes. In 2021, the androgenetic segment of alopecia was second in revenue. This market growth is due to growing awareness of these conditions, which has been driven by proactive initiatives such as Alopecia World, the American Hair Loss Association, and National Hair Loss Awareness Month (Lexington International). The market is expected to grow due to the increasing use of laser-based treatments for AGA. Companies such as LUTRONIC and iRestore Hair Growth System, Lexington Intl. LLC. (HairMax), is providing painless and innovative treatment options to treat AGA.

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Treatment Type Analysis

The market was dominated by the pharmaceutical segment, which accounted for more than 98.0% of the total revenue in 2021. This segment is driven by the low cost of pharmaceutical products as well as the high use of OTC and prescription drugs. Minoxidil and finasteride are the most commonly used drugs to treat any type of alopecia. Minoxidil and finasteride are the only approved drugs in the United States for treating both Male Pattern Hair Loss and Female Pattern Hair Loss. Major pharmaceutical companies like Lilly, Pfizer Inc., and Concert Pharmaceuticals actively participate in the development of new drugs to treat alopecia, which will drive the segment for the forecast period.

Laser-based devices are used to regrowth hair and will grow at the fastest rate over the forecast period. The segment will grow in the next 5-8 years due to the increasing adoption of painless treatments and minimal side effects. Low-level laser therapy is convenient for at-home use and reduces the need to visit a doctor. It is a non-surgical and non-pharmacological viable therapeutic action for hair repair, which will drive the market's growth over the forecast period.

End-Use Analysis

The market was dominated by dermatology, which accounted for the highest revenue share at 58.7% during the forecast period. The main reasons for this segment's continued growth are modern treatment methods like laser technology, strong product pipelines, and increased consumer awareness about prescription medication use. A consultation dermatologist is often the best option to treat alopecia due to their ability to provide effectively, customized medication or therapy.

Because of its convenience, ease of use, and patient comfort, the home care setting segment is expected to grow the fastest over the forecast period. There are increasing numbers of home-use devices being approved by regulatory agencies. This is in addition to the rising adoption of non-invasive treatments such as laser therapy, which do not require lifestyle changes. It is available via direct-to-consumer platforms as well as telemedicine.

Gender Analysis

Due to the high rate of hair loss among men worldwide, the male alopecia market dominated and generated 56.7% of the total revenue in 2021. Androgenetic hair loss is the most common type of alopecia among males. About half of all men will experience hair loss by the age of 50, with more than 90% being androgenetic. Market growth will be further accelerated by factors like the rising number of men who smoke and the aging population. The market for female alopecia is expected to grow at the fastest pace over the forecast period. The market is expected to grow due to increased awareness, lifestyle changes, higher PCOS levels, and a growing trend in cosmetic procedures.

Sales Channel Analysis

Due to the high number of hair loss treatments, the prescription segment was the dominant market. It accounted for 62.8% of the total revenue in 2021. The segment is expected to grow at the fastest pace over the forecast period due to a strong product pipeline and growing disposable incomes. OTC drugs are driving the market further. OTC is widely used in developing countries where there are many opportunities to meet unmet medical needs. OTC drugs are still the most preferred option for males with androgenetic and other hair loss conditions.

Кеу Маrkеt Ѕеgmеntѕ:

By Disease Type

• Alopecia Areata
• Cicatricial Alopecia
• Traction Alopecia
• Other Disease type

By Treatment

• Devices
• Pharmaceuticals

By Gender

• Female
• Male

By Sales Channel

• OTC
• Prescriptions

By End-Use

• Dermatology Clinics
• Homecare Settings

Market Dynamics:

Healthcare expenditures have increased due to the increase in initiatives by organizations such as the American Hair Loss Association and the National Alopecia Areata Foundation, which promote awareness about hair regrowth options and treatment options. This leads to an increase in treatment rates, which will fuel market growth. The market is also growing due to increasing awareness about hair loss. This is boosting the demand for painless treatment with minimal side effects.

Patients with alopecia and patients visiting dermatological clinics are the major buyers on this market. The availability of traditional medicine and cosmetic products such as hair-growth serums can contribute to the moderately high bargaining power of buyers. There are many options available, as most of the treatment options can be purchased off-label or in generic form. This will increase the buyers' bargaining power during the forecast period. The threat of substitutes will remain high throughout the forecast period. The primary substitutes for the market include hairpieces, wigs, and hair transplants and restoration. Market growth is also affected by the availability of traditional medicines, cosmetic and herbal products, as well as a nutritional supplement such as biotin-based gums. Many patients choose to substitute for treatment due to uncertainty. Alopecia therapy is also limited by the lack of an approved treatment.

Regional Analysis:

North America was the dominant market, accounting for 35.1% of the total revenue in 2021. This is due to high disease prevalence, increasing consumer awareness, proactive government actions, technological advances, and improvements in healthcare infrastructure. Market growth is driven by the presence of key players within this region. Increasing the use of laser-based therapy for treating alopecia is also helping to increase the area's treatment rate. The market will benefit from the presence of non-profit and government organizations like the National Alopecia Areata Foundation and the Canadian Alopecia Areata Foundation. These organizations provide guidance and raise awareness. The market for Asia Pacific is expected to see the highest CAGR during the forecast period. This is due to a rise in the use of alopecia products and rising disposable income. International players will be attracted to the market by improvements in healthcare regulations in developing countries.

Europe will also be expected to hold a large market share over the forecast period. This is due to a variety of factors, including technological advances and awareness campaigns that are organized by private and public groups. The European Hair Research Society is a key player in conducting awareness campaigns and research related to effective treatments to prevent hair loss.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

This market is open to both domestic and international players. The market's key players are focused on strategies like mergers, acquisitions, innovation, and new product launches in Homecare Settings, and Dermatology Clinics that will enhance their portfolio. The alopecia market has some prominent players such as:

Маrkеt Кеу Рlауеrѕ:

• iRestore Hair Growth System
• Theradome
• Curallux, LLC
• LUTRONIC
• Lexington Intl.
• Dr. Reddy's Laboratories
• Cipla
• Alpecin
• Vitabiotics
• Phyto Ales Group
• Other Key Players

For the Global Alopecia Market research study, the following years have been considered to estimate the market size: