July 27, 2021: Global Alopecia Market is expected to reach USD 11.8 billion by 2024. Alopecia is also termed as baldness or hair loss is a medical term that mainly affects the scalp or may occur on any hair-bearing skin. It may occur naturally, or due to disease or side effects of medications. Alopecia is not a specific hair loss disease but any form of hair loss. The Alopecia Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
Growth in geriatric population, rising depression and hypertension among populace, increasing demand for surgical hair transplant, technologically enhanced hair treatment medical devices, and growing disposable income are documented as major factors of Alopecia Market that are estimated to enhance the growth in the years to come. However, high cost of medication may restrain overall market growth in the coming years. Alopecia Market is segmented based on type, product type, gender, mode of action, end user, and region.
Alopecia areata, scarring alopecia, androgenic alopecia, diffuse unpatterned alopecia (DUPA), female pattern baldness (FPB), alopecia totalis, postpartum alopecia, traction alopecia, and other types could be explored in Alopecia in the forecast period. Shampoos and conditioners, vitamins and supplements, and other product types could be explored in Alopecia in the forecast period. Other product type comprises gels, serums, and oils.
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Children, men, and women are three main genders that could be explored in Alopecia in the forecast period. Men sector accounted for the substantial market share of Alopecia and is estimated to lead the overall market in the coming years. This may be because in the United States, 35 million men suffer from hair loss and about 95% of men suffer from androgenic alopecia across world. The key reason is smoking habits in men and growing male geriatric population.
Topical, oral, and other mode of action could be explored in Alopecia in the forecast period. Topical mode of action accounted for the substantial market share of Alopecia and is estimated to lead the overall market in the coming years. The market may be categorized based on end users like dermatology clinics, homecare, salons, and others that could be explored in the forecast period.
Globally, North America accounted for the substantial market share of Alopecia in terms of revenue and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be developed healthcare infrastructure with latest technology, availability of new therapeutic options, high occurrence of hair loss issues, and high disposable income. The United States is a major consumer of Alopecia in this region.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise huge population suffering from Alopecia, developing healthcare infrastructure, and growing awareness regarding availability of several therapeutic options to treat Alopecia. The developing countries like India and China are the major consumers of Alopecia in this region.
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The key players of Alopecia Market are Phyto Ales Group, Cipla, Vitabiotics, Merck & Co., Alpecin, Johnson & Johnson, Kirkland Signature, Lifes2good, Sun Pharma, and Dr. Reddy’s Laboratories. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
Market Segment:
Global alopecia treatment outlook, by revenue (USD Million, 2013 - 2024)
• Oral
• Topical
• Others
Global alopecia gender outlook, by revenue (USD Million, 2013 - 2024)
• Men
• Women
Global alopecia regional outlook, by revenue (USD Million, 2013 - 2024)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
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