With 8.9% CAGR, Global Alopecia Market Size to Reach 5,250.8 Million by 2027 | Emergen Research
Rising occurrences of alopecia and increasing incidence of chronic diseases are among the significant factors influencing the market growth.
According to a recent report by Emergen Research, the worldwide alopecia market is expected to be valued USD 5,250.8 Million by 2027. Up to 2027, the alopecia market is anticipated to expand quickly. The market is expanding as a result of the increasing incidence of alopecia. For instance, alopecia areata, a chronic autoimmune condition that damages developing hair follicles and causes localised, nonscarring hair loss, is common around the world. The prevalence of the condition is estimated to be 0.001% in the general population, with a lifetime risk of 2.0%. It can happen to persons of any age, including children and adults, and affects men and women almost equally.
Healthcare spending is rising as a result of an increase in campaigns launched by groups like the National Alopecia Areata Foundation and the American Hair Loss Association to raise awareness of hair regrowth and available treatment choices. Patients from lower socioeconomic backgrounds benefit from the Cheap Care Act of 2010, which makes healthcare insurance more accessible and affordable for everyone. As a result, the treatment rate rises generally, which is predicted to drive the market’s expansion. Additionally, as people become more conscious of hair loss, there is a rising global desire for painless treatments with little adverse effects.
One of the main elements influencing the market’s growth is the rising prevalence of hair loss. The American Academy of Dermatology Association (AAD) estimates that approximately 30 million women and 50 million men in the U.S. suffered with alopecia in 2018. Around 60% of people have issues with hair thinning, and pattern hair loss is the most prevalent type of hair loss in both men and women, according to data from the Journal of Clinical and Diagnostic Research (JCDR). Furthermore, regardless of gender, 2% of the world’s population is susceptible to having AA in their lifetime.
Key participants include Johnson & Johnson Services Inc., Cirrus Hair Centers, Cipla Inc., Follica Inc., Merck & Co. Inc., Sun Pharmaceutical Industries Ltd., Concert Pharmaceuticals Inc., GlaxoSmithKline PLC, Aclaris Therapeutics Inc., and HCell Inc., among others.
Some Key Highlights from the Report
The market was dominated by the alopecia areata category, which had the highest revenue share of 35.2% in 2020 due to the disease’s high prevalence and sufferers’ increasing consumer awareness. Around 6.8 million of the approximately 147.0 million persons affected by AA live in the United States alone, according to the National Alopecia Areata Foundation. Due to an increase in the discovery of novel therapies and supportive initiatives in the approval process, the market is predicted to grow significantly over the forecast period.
In 2020, the pharmaceutical industry dominated the market and accounted for more than 98.0% of total sales. The segment is primarily driven by the low cost of pharmaceutical items and high consumption of prescription and over-the-counter medications. The most popular medications used to treat any form of alopecia are finasteride and minoxidil. The only medications in the United States that are licenced for the treatment of both Male Pattern Hair Loss (MPHL) and Female Pattern Hair Loss (FPHL) are finasteride and minoxidil (MPHL). Major pharmaceutical firms are also actively engaged in the discovery of novel medications to treat alopecia, which is predicted to drive the industry throughout the projection period. Examples include Lilly, Pfizer Inc., and Concert Pharmaceuticals.
Revian announced that the U.S. had been granted a patent in January 2020. Patent & Trademark Office (USPTO) for the use of exclusive colour light combinations for the regeneration of living bodily tissues, such as hair.
The years 2020–2027 are predicted to see the fastest growth in androgenetic alopecia. In the world’s population, hair loss is a widespread occurrence. It is also known as male-pattern baldness in the case of men.
Total hair loss on the scalp is brought on by alopecia totalis, an advanced case of alopecia areata that results in rounded hair loss patches.
Androgenic alopecia in females is caused by PCO (Polycystic Ovary Syndrome), with an estimated 20.0% of females experiencing the disorder prior to menopause and about 40.0% experiencing it post-menopause.
The need for economical therapy and the growing emphasis on easy therapeutic accessibility are the driving forces behind the OTC (over-the-counter) availability of alopecia treatment medications.
|Market Size Estimation Period||2020 – 2028|
|Base Year Considered||2019|
|Historical data||2015 – 2019|
|Forecast Period||2020 – 2028|
|Quantitative Units||Revenue in USD million and CAGR from 2020 to 2028|
|Segments Covered||Types, Applications, End-Users, Regions and more.|
|Report Coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Customization scope||10 hrs of free customization and expert consultation|
|Pricing and purchase options||Explore Different Purchase Options and Request for Discount to Avail New Year Discount|
Emergen Research has segmented the global alopecia market on the basis of type, application, end-users, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Alopecia Areata
- Androgenetic Alopecia
- Alopecia Totalis
- Traction Alopecia
- Cicatricle Alopecia
Application Outlook (Revenue, USD Billion; 2017-2027)
End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Dermatology Clinics
- Homecare Settings
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- OTC (Over-the-Counter)