How Has the Alopecia Areata Market Evolved Historically and What is its Current Size?
The alopecia areata market has seen considerable growth due to a variety of factors.
•In recent years, the market size for alopecia areata has witnessed robust growth. Projected to increase from $3.58 billion in 2024 to $3.82 billion in 2025, it's poised to grow at a Compound Annual Growth Rate (CAGR) of 6.9%.
The growth during the historic period can be associated with factors such as the limited available treatment options, advances in immunology, heightened awareness of the disease, along with clinical trials and drug development, and an increased understanding of the psychosocial impacts.
What is the Forecasted Market Size and CAGR for the Alopecia Areata Market?
The alopecia areata market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of alopecia areata is anticipated to witness substantial expansion in the coming years, reaching a size of $5.24 billion in 2029 with a compounded annual growth rate (CAGR) of 8.2%.
This expected growth in the prediction period is attributed to the advancements in biologic therapies, precision medicine strategies, improvements in immunotherapy, AI, and drug discovery, as well as global initiatives and funding. The forecast period sees major trends like advancements in topical immunotherapy, combination therapy, the use of telemedicine in dermatology, patient-oriented care, and regulatory processes for new therapies.
What Are The Key Drivers Fueling Growth In The Alopecia Areata Market?
The increase in hair loss cases worldwide is predicted to fuel the expansion of the alopecia areata market in the future. Hair loss occurs when the normal cycle of hair growth in the body is interrupted. Alopecia areata treatments make use of corticosteroids, which are strong anti-inflammatory drugs that can suppress the immune system, to counteract a situation where the immune system destroys hair follicles, leading to hair loss. As per a March 2022 article by the Hair Society, a professional organization based in the US offering a comprehensive range of services, approximately 21 million women and 35 million men worldwide were suffering from hair loss. Starting at the age of 35, a significant chunk of the world's population begins to lose their hair, with a 40% loss rate in men that increases to a 70% loss rate by the time these men turn 80. By the age of 60, women experiencing hair loss will constitute 80% or more. Hence, the rising occurrence of hair loss is propelling the expansion of the alopecia areata market.
What Are The Principal Market Segments In The Global Alopecia Areata Industry?
The alopecia areata market covered in this report is segmented –
1) By Type: Patchy Alopecia Areata, Alopecia Totalis, Alopecia Universalis, Diffuse Alopecia Areata, Ophiasis Alopecia, Other Types
2) By Treatment: Medical Treatments, Natural Treatment, Other Treatments
3) By Diagnosis: Trichoscopy, Skin Biopsy, Other Diagnoses
4) By Route Of Administration: Oral, Topical, Parenteral, Other Routes Of Administration
5) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users
Subsegments:
1) By Patchy Alopecia Areata: Single Patch, Multiple Patches
2) By Alopecia Totalis: Complete Scalp Hair Loss
3) By Alopecia Universalis: Total Body Hair Loss
4) By Diffuse Alopecia Areata: Generalized Thinning, Scattered Patches
5) By Ophiasis Alopecia: Band-like Pattern At The Sides And Back Of The Scalp
6) By Other Types: Androgenetic Alopecia, Telogen Effluvium, Traction Alopecia
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Which Emerging Market Trends Are Altering The Alopecia Areata Sector?
One of the prevailing trends in the alopecia areata market is the approval of breakthrough drugs. Key players in this field are concentrating on obtaining approval for new medications to solidify their presence and get an edge over their competition. For example, Pfizer Inc., an American enterprise specializing in biotechnology and pharmaceuticals, shared in June 2023 that the US Food and Drug Administration (FDA), the federal agency overseen by the Department of Health and Human Services in charge of preserving public health, had greenlighted LITFULOTM (ritlecitinib). This marks the first and exclusive remedy for severe alopecia areata that is sanctioned for use in patients aged 12 and above. This once-daily orally administered drug presents a solution to an autoimmune disorder – alopecia areata, from which the teenagers previously had no FDA-endorsed treatments and the adults had limited options. LITFULO operates by inhibiting the Janus kinase 3 (JAK3) and stymieing the tyrosine kinase family of kinases present in hepatocellular carcinoma (TEC).
Who Are the Key Players in the Alopecia Areata Market?
Major companies operating in the alopecia areata market include:
• Pfizer Inc.
• Merck & Co. Inc.
• AbbVie Inc.
• Novartis AG
• Bristol-Myers Squibb Company
• Sanofi S.A.
• GlaxoSmithKline plc.
• Eli Lilly and Co Ltd.
• Teva Pharmaceutical Industries Ltd.
• Sun Pharmaceutical Industries Ltd.
• Bausch Health Companies Inc.
• Incyte Corporation
• Dr. Reddy's Laboratories Ltd.
• Cipla Ltd.
• Taisho Pharmaceutical Holdings Co. Ltd.
• Lupin Ltd.
• Glenmark Pharmaceuticals Ltd.
• Almirall S.A.
• Torrent Pharmaceuticals Ltd.
• Taro Pharmaceutical Industries Ltd.
• Aclaris Therapeutics Inc.
• BioSplice Therapeutics Inc.
• PureTech Health plc
• HCell Inc.
• Histogen Inc.
What are the Regional Insights into the Alopecia Areata Market?
North America was the largest region in the alopecia areata market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the alopecia areata market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
