Alopecia Market is expected to grow from USD 8.4 billion in 2022 to USD 15.8 billion by 2030 : GreyViews
Alopecia Market Size by Disease Type (Alopecia Areata, Androgenetic Alopecia, Cicatricial, Traction, and Others), By Treatment (Devices and Pharmaceuticals), By End-Users (Homecare, Dermatology Clinics, Hospitals, and Others), Regions, Segmentation, and forecast till 2030.
Pune India, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the alopecia market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the alopecia market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as disease type, treatment, end-users, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global alopecia market are Merck & Co. Inc., Lupin, Abbott, F. Hoffman-La Roche Ltd., Sanofi, Eli Lilly and Company, AbbVie Inc., Cipla Inc., Mylan N.V., GlaxoSmithKline, Bayer AG, Allergan, Johnson & Johnson Private Limited, Teva Pharmaceutical Industries Ltd. among others. To achieve a substantial market share in the worldwide alopecia market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
In alopecia, hair falls out in small patches that are initially unnoticed but later become apparent as the hair regrows. Hair loss occurs when the autoimmune system attaches to the hair follicles. The severity of Alopecia Universalis differs from person to person, but it causes total hair loss and prevents hairs from growing back. Patients with hair loss are expected to be more likely to be treated with laser therapy that stimulates hair growth. Increasing healthcare expenditures also contribute significantly to the alopecia market's growth rate because they improve its infrastructure. The increase in healthcare expenditure can be attributed to an increase in the number of activities conducted by organizations like the American Hair Loss Association and the National Alopecia Areata Foundation to raise awareness about the regrowth of hair and treatment options. The alopecia market is witnessing immense growth due to increasing investment in healthcare infrastructure, increasing prevalence of hair loss, and rising R&D activities. But some factors hamper the market's growth, such as the high cost of treatment and lack of proper reimbursement policies, and the lack of trained professionals. In addition, medical conditions associated with hair loss, such as cancer, polycystic ovary syndrome, etc., are expected to contribute to the rapid growth of hair loss treatments in the near future.
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Scope of Alopecia Market Report:
|Market Share Unit||USD Billion|
|Segments Covered||Disease Type, Treatment, End-Users, and Regions.|
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Merck & Co. Inc., Lupin, Abbott, F. Hoffman-La Roche Ltd., Sanofi, Eli Lilly and Company, AbbVie Inc., Cipla Inc., Mylan N.V., GlaxoSmithKline, Bayer AG, Allergan, Johnson & Johnson Private Limited, Teva Pharmaceutical Industries Ltd. among others|
Alopecia aerate is expected to be the fastest-growing segment in 2022.
The disease type segment includes alopecia areata, androgenetic alopecia, cicatricial, traction and others. The alopecia areata segment is expected to witness the highest growth rate during the forecast period. Alopecia areata is not curable; however, it can be treated and the hair can grow back. Researchers don't fully understand why the immune system attacks hair follicles, but genetics and environment both play a role. Alopecia is often treated with medications used to treat other diseases.
Pharmaceuticals are expected to be the fastest-growing segment in 2022.
The treatment segment includes devices and pharmaceuticals. The pharmaceuticals segment is expected to witness the highest growth rate during the forecast period. The low cost of pharmaceutical items, increased prescription use, etc, primarily drive this segment. The pharmaceutical industry controlled the market and generated the highest revenue share, Finasteride and minoxidil are the most commonly used medications to treat hair loss.
Dermatology clinics are expected to be the fastest-growing segment in 2022.
The end-users segment includes homecare, dermatology clinics, hospitals, and others. The dermatology clinics segment is expected to witness the highest growth rate during the forecast period. A dermatology clinic will dominate the market during the forecast period due to newer technologies and appropriate medication or therapy. A recent introduction of laser therapy that stimulates hair growth is expected to increase the number of patients who need to get treated for hair loss.
The regional analysis provides a detailed perception of the key regions and the countries. Some key countries analyzed for the alopecia market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Market share was highest in North America, which accounted for the largest share of the revenue. In addition, high disease prevalence, increased consumer awareness, proactive government actions, technological advances, and improvements to the healthcare system's infrastructure all contribute to its expansion. In this market, there are various major companies that play an important role in its expansion.
Germany's alopecia market size was valued at USD 0.67 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 8.3% from 2023 to 2030.
The market growth of the country is largely due to technology developments and awareness programs run by both government and private organizations, which are boosting the market growth.
Chinas alopecia market size was valued at USD 0.70 billion in 2022 and is expected to reach USD 1.34 billion by 2030, at a CAGR of 8.5% from 2023 to 2030.
As a result of the rise in demand for effective hair loss treatment pharmaceuticals, particularly oral treatments, the Chinese alopecia market has been driven primarily by the rising demand for effective hair loss treatment pharmaceuticals.
India's alopecia market size was valued at USD 0.52 billion in 2022 and is expected to reach USD 0.99 billion by 2030, at a CAGR of 8.4% from 2023 to 2030.
Alopecia patients are becoming increasingly interested in novel, and emerging treatment modalities as cosmetic operations become more popular because of an increased emphasis on aesthetic appearances. As a result, the country's market revenue is expected to continue to grow.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing cases of hair loss among people from all age groups.
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