Alopecia Market - Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation

Alopecia Market Overview:

 

Alopecia is a medical word for hair loss. It can infect any area of the body, although the scalp is the most typical target. It is becoming more widespread as a result of a sedentary lifestyle, poor nutritional habits, and increased stress levels.

 

The most popular therapies for hair growth are anti-inflammatory medications, such as topical and intralesional corticosteroid injections. Alopecia can be classified into several forms, each with its unique set of traits and causes. Some types of hair loss are transitory, but others might be permanent. Treatment for extensive alopecia can be tough, and some people may not react to it. Many private NGOs are also focusing on the alopecia market, which is supported by the government.

 

The Alopecia Market was dominated by the North American region, as many advancements to the needs of customers are available in the market. The presence of major companies in this region is a major driving factor for a growing market. The growing use of laser-based therapy to treat alopecia is improving the region's treatment rate with common topical and advance application of Minoxidil-5% Solution.

 

 

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Alopecia Market Dynamics:

 

Awareness of Advancements in Treatment Options Drives Market

 

Companies are heavily investing in R&D to discover new treatments and improve existing ones. The focus is on understanding the underlying causes of alopecia and targeting specific pathways. They are gaining approval from regulatory bodies like the FDA and EMA is crucial. Companies are focused on demonstrating the safety and efficacy of their treatments through robust clinical trials. The collaborations between pharmaceutical companies, biotech firms, and research institutions are common to accelerate the development of new treatments and share expertise. Then companies aim to increase their market share through strategic marketing, expanding distribution channels, and entering emerging markets.  Innovations in drug delivery systems, such as microneedling, laser therapy, and regenerative medicine, are gaining traction as complementary treatments for alopecia. As these solutions grow more effective and accessible, more people will seek help. Advances in biotechnology are transforming the alopecia marketplace. Researchers are investigating the genetic and molecular processes that contribute to hair loss, to develop tailored treatments. Treatments that alter the Wnt signaling system, like as CRISPR, are being studied to address genetic abnormalities related to alopecia. These innovative approaches promise more effective and personalized therapies.

 

 

Increasing Investment In The Oil & Chemical Industries Supports Alopecia Market

 

The availability of low-level laser therapy, which promotes hair growth, is expected to increase the number of people who are treated for hair loss. The FDA-approved introduction of swiftly acting JAK medications, the development of ways to stimulate hair growth utilizing human pluripotent stem cells, and the invention of PRP treatment, which specifically stimulates hair growth in males, are all driving forces. Hairmax laser combs, follies massager combs, lifemax infrared hairbrushes, and hair growth renewal lasers are only a few examples of technologically innovative products based on cutting-edge technology. These are a few of the most crucial aspects that are expected to drive the market's growth. The aging infrastructure in established industries is driving the consumption of Alopecia products, while the expansion of oil refineries has led to rising demand for monitoring tools to help companies minimize maintenance costs. These factors collectively contribute to the alopecia market growth.

 

Lack of Infrastructure for providing Alopecia Related Services

 

The alopecia market for alopecia areata will be hampered by limited primary care services and a lack of healthcare infrastructure in developing countries. Strong regulatory constraints and a lack of public awareness will also function as barriers to alopecia market growth between 2023 and 2031. The alopecia industry is continually changing, with new and better treatment choices emerging. This includes advances in drugs like finasteride and minoxidil, as well as the creation of novel technologies like laser therapy and stem cell therapy.

 

Challenges in diagnosing route cause of Alopecia which prolongs treatment

 

Pinpointing the root cause involves thorough medical evaluations and may require a multidisciplinary approach, which can be both time-consuming and intricate. This complexity makes it difficult for healthcare providers to recommend the most effective treatment plan, potentially delaying appropriate care and management for patients. As a result, achieving optimal treatment outcomes can be challenging in the alopecia market.

 

Advanced alopecia treatments, including hair transplants, platelet-rich plasma (PRP) therapy, and laser treatments, are expensive. These operations are frequently not covered by insurance, making them inaccessible to many patients, particularly in low- and middle-income nations. The high pricing restricts the alopecia market to a smaller, wealthier sector of the population.

 

Alopecia Market Import-Export Analysis:

• Minoxidil export shipments from India stood at 14.1k, exported by 519 India exporters to 1,948 buyers.

 

• India exports most of its minoxidil to Singapore, Switzerland, and Mauritius and is the largest exporter of minoxidil in the world.

 

• The top 3 exporters of minoxidil are India with 14,124 shipments followed by the United States with 4,082 and Italy at the 3rd spot with 315 shipments.

 

• The top 3 supplier countries for minoxidil are  India, Turkey, and Ecuador. 

 

• The top 3 buyer countries for minoxidil are  Ecuador, Singapore, and Switzerland.

 

Alopecia Market Segment Analysis:

 

Based on the Disease Type, the Alopecia Areata segment is expected to held the largest market share in the alopecia market during the forecast period of 2023-2030. According to National Alopecia Areata Foundation, around 147 million people are affected by alopecia areata globally, out of this, around 6.8 million people live in the U.S. only. For instance, in October 2023, Sun Pharmaceutical Industries Ltd announced the acceptance of a New Drug Application (NDA) by the U.S. FDA. The NDA will be used for deuruxolitinib to treat severe alopecia areata.

 

According to the Genetic and Rare Diseases Information Center (GARD), around 7% to 25% of people suffering from alopecia areata develop alopecia totalis and universalis. Moreover, the presence of pipeline drugs such as baricitinib, deuruxolitinib, and ritlecitinib for the treatment of severe conditions of alopecia areata is expected to propel the segment growth over the forecast period.

 

 

Based on the Treatment, the alopecia market is segmented into Pharmaceuticals and Devices. The pharmaceuticals treatment segment is expected to grow rapidly at a CAGR of XX% during the forecast period 2023-2030. The segment is driven by the low cost of pharmaceutical products and the high use of prescription and over-the-counter drugs. The most frequent medications used to treat alopecia are finasteride and minoxidil. Finasteride and minoxidil are the only medications approved in the United States to treat both Female Pattern Hair Loss (FPHL) and Male Pattern Hair Loss (MPHL). Furthermore, prominent pharmaceutical firms such as Lilly, Pfizer Inc., and Concert Pharmaceuticals are actively involved in the development of innovative alopecia treatments, which is expected to fuel the segment during the forecast period.

 

The devices segment is expected to grow at the fastest growth rate after the pharmaceutical segment during the forecast period. Increasing adoption of painless treatment coupled with minimal side effects and adoption of home-used laser devices are forces driving the segment growth in the next 5 to 8 years. Low-level laser therapy offers the convenience of at-home use and minimizes the need for clinical visits. Moreover, it provides a non-pharmacological and non-surgical viable therapeutic action for hair restoration due to which the alopecia market is expected to grow steadily over the forecast period. FDA clearance for low-level laser therapy devices, such as iRestore and Hairmax, for the treatment of the most commonly occurring forms of alopecia, such as androgenetic alopecia, is likely to boost the alopecia market growth for the same over the forecast period.

 

 

Alopecia Market Regional Insights:

 

North America dominates the Global Alopecia market during the forecast period 2023-2029. North America is expected to hold the largest market share of xx% by 2029. High illness prevalence, increased consumer awareness, proactive government initiatives, technological advancements, and improvements in healthcare infrastructure are all driving the market forward. The presence of major companies in this region is a major driving factor for a growing market. The growing use of laser-based therapy to treat alopecia is improving the region's treatment rate.

 

Furthermore, the presence of government and non-profit organizations such as the National Alopecia Areata Foundation (NAAF), the Canadian Alopecia Areata Foundation, and others, which establish recommendations and raise public awareness, is expected to have a favorable effect on the alopecia market. In addition, the rising adoption of laser-based therapy for treatment has contributed to an increase in the treatment rate in North America.

 

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2030 after North America. This is due to the increased alopecia product penetration, greater disposable income, and increased consumer awareness Furthermore, as the regulatory environment in developing countries improves, multinational businesses are expected to invest and take advantage of the available alopecia market prospects. As more people experience hair loss, there is a rising acknowledgment of the importance of sophisticated therapeutic methods for properly managing the problem.  Rising awareness of hair loss and its influence on quality of life has also contributed significantly to alopecia market expansion in this region.

 

 

Alopecia Market Competitive Landscape:

 

Johnson & Johnson launched Rogaine (Minoxidil). It has a strong brand presence, extensive marketing campaigns, and continuous research and development (R&D) efforts to improve formulations.  Pfizer Inc. launched Xeljanz (Tofacitinib) which was originally approved for rheumatoid arthritis but also used off-label for alopecia areata. It is leveraging existing drug portfolios for new indications, and conducting clinical trials to expand approved uses.

 

Sun Pharmaceutical Industries Ltd. launched treatments and oral medications targeting alopecia. It focuses on generic drug production, extensive distribution networks, and strategic acquisitions.  Cipla Ltd. launched Various topical treatments and hair growth products. It has an emphasis on affordable treatments, a strong alopecia market presence in emerging economies, and investment in R&D.

 

Follica, Inc. launched Device-based treatments combined with topical therapies to stimulate hair growth. It focuses on the development of novel treatment modalities, partnerships for commercialization, and a strong focus on clinical validation. Histogen Inc. launched HSC (Hair Stimulating Complex), a cell-conditioned media product. It focuses on biotechnological innovation, clinical research, and collaborations with dermatologists and hair specialists.  Cassiopea SpA launched Breezula (Clascoterone), a topical antiandrogen for androgenetic alopecia. It is targeting hormonal pathways, rigorous clinical trials, and seeking global alopecia market approvals.

 

Recent Developments

• In July 2023, REVIAN Inc. announced that the Revian Red Hair Growth System is expected to be in a second study. It is anticipated as an effective treatment option for Central Centrifugal Cicatricial Alopecia ("CCCA").

 

• In June 2023, Pfizer Inc. announced the approval of LITFULO by the U.S. FDA. It is the first treatment that is approved and used for adolescents (12+) to treat severe alopecia areata.

 

• In January 2023, Sun Pharmaceuticals Industries Ltd announced the acquisition of Concert Pharmaceuticals. The latter is a biotechnology company specializing in treating alopecia areata.

 

In May 2021, Eli Lilly and Company announced a royalty-free, non-exclusive voluntary licensing arrangement to increase access to Lilly’s drug baricitinib in India. Sun Pharma will produce and distribute the drug in India.

 

Alopecia Market Scope:

Alopecia Market Scope
Market Size in 2023	USD 9.5 Bn.
Market Size in 2030	USD 17.59 Bn.
CAGR (2024-2030)	9.2%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segmentation Analysis	By Diseases Cicatricial Alopecia Traction Alopecia Alopecia Totalis Alopecia Areata
	By Treatment Pharmaceuticals Devices
	By Gender Male Female
	By Sales Channel Homecare Settings Dermatology Clinics

 

Alopecia Market, By Region:

North America (United States, Canada, and Mexico)

Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe)

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC)

Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A)

South America (Brazil, Argentina Rest of South America)

 

Alopecia Market Key Players:

1. Johnson & Johnson (USA)
2. Pfizer Inc. (USA)
3. Aclaris Therapeutics, Inc. (USA)
4. Concert Pharmaceuticals, Inc. (USA)
5. Follica, Inc. (USA)
6. Histogen Inc. (USA)
7. iGrow Laser (Apira Science, Inc) (USA)
8. Theradome (USA)
9. Curallux, LLC (Capillus) (USA)
10. LUTRONIC (USA)
11. iRestore Hair Growth System (Freedom Laser Therapy) (USA)
12. Lexington Intl., LLC. (HairMax) (USA)
13. Kirkland Signature (USA)
14. Lifes2good (Ireland)
15. Cassiopea SpA (Italy)
16. Phyto Ales Group (France)
17. Vitabiotics (UK)
18. Merck & Co. (Germany)
19. Alpecin (Germany)
20. Dr. Reddy’s Laboratories (India)
21. Sun Pharmaceutical Industries Ltd. (India)
22. Cipla Ltd. (India)