Global Alopecia Market Size 2024, Forecast To 2033

19 Mar, 2024

The alopecia market has experienced robust growth, surging from $5.28 billion in 2023 to $5.76 billion in 2024, reflecting a 9.2% CAGR. Historical growth results from heightened awareness, increased consumer demand, a growing number of international medical tourism centers, and improved reimbursement scenarios. Forecasts project continued strength, with the market reaching $7.82 billion in 2028, boasting a 7.9% CAGR. Contributing factors include a rising aging population, increased cosmetic concerns, lifestyle factors, and higher healthcare expenditure. Anticipated trends encompass advancements in treatment options, biotechnological innovations, and increased use of AI and ML in alopecia research.

Global Alopecia Market Key Driver

The alopecia market is expected to grow due to the increasing prevalence of hair loss. Alopecia, or hair loss, can be partial or complete, and treatment options focus on promoting hair regrowth, personalized plans, combination therapies, and addressing the emotional impact. In April 2023, data from China's National Health Commission revealed over 250 million Chinese experienced hair loss, with 42% aged 26 to 30. A February 2023 report from the Statistic Brain Research Institute noted that approximately 40% of men will have visible hair loss by age 35. The growing frequency of hair loss is driving the alopecia market.

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Global Alopecia Market Segments

The global alopecia market is segmented -
1)By Type: Alopecia Areata; Androgenetic Alopecia; Alopecia Totalis; Traction Alopecia; Cicatricial Alopecia; Other Types
2)By Treatment: Pharmaceutical; Low Level Laser Therapy (LLLT) Devices; Hair Transplant; Regenerative Medicine; Other Treatments
3)By Gender: Male; Female
4)By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies; Other Distribution Channels
5)By End-User: Dermatology Clinics; Homecare Settings; Other End-Users
By Geography: The regions covered in the alopecia market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions. North America was the largest region in the alopecia market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the alopecia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Major Alopecia Industry Players

Pfizer Inc., Johnson and Johnson Ltd., Merck and Co. Inc., Bayer AG, Novartis AG, Sanofi SA, GlaxoSmithKline Plc, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Allergan Plc, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sun Pharmaceutical Industries Ltd., Perrigo Company Plc, Intertek Group Plc, Dr. Reddy's Laboratories Ltd., Cipla Limited, Almirall S.A., Aclaris Therapeutics Inc., Curallux LLC, Theradome Inc., Lexington International LLC, Histogen Inc., Apira Science Inc.

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Alopecia Market Overview

Alopecia is a medical term that refers to hair loss, which can occur naturally or be related to disease or the use of certain medications. It can be localized or diffuse, temporary or permanent, and can affect both sexes and all age groups. Alopecia treatment aims to slow down, reverse, or manage hair loss and promote hair regrowth in affected areas.

Alopecia Market Global Market Report 2023 provides data on the global alopecia market market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The alopecia market market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.