What Has Been The Evolution of the Alopecia Market in Recent Years?
The alopecia market has seen considerable growth due to a variety of factors.
• Over the past few years, the market size for alopecia has experienced consistent growth. The market is projected to expand from $11.05 billion in 2024 to $11.6 billion in 2025, achieving a compound annual growth rate (CAGR) of 4.9%.
Factors such as heightened awareness about diagnosis, growing consumer demand, a rise in global medical tourism centers, and improved reimbursement situations have contributed to this historic growth period.
What Are the Future Growth Projections for the Alopecia Market?
The alopecia market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are that the alopecia market will experience consistent expansion in the coming years, potentially reaching $13.88 billion by 2029, with a compound annual growth rate (CAGR) of 4.6%.
The projected growth during this forecast period is largely ascribed to the increased aging population, heightening cosmetic concerns, growing lifestyle factors, and escalating healthcare expenditure. Key trends to watch in this projected period include advancements in the treatment alternatives, biotechnological breakthroughs and an increased reliance on artificial intelligence (AI) and machine learning (ML) in alopecia research.
What Are The Core Factors Supporting Growth In The Alopecia Market?
The alopecia market's growth is anticipated to be bolstered by the escalating incidence of hair loss. Hair loss implies the partial or total loss of hair from regions where it is typically present. The treatment for alopecia aids individuals suffering from it by addressing multiple aspects related to hair loss, such as encouraging hair regrowth, fashioning personalized treatment strategies, blending different therapies, and controlling the physical aspect of losing hair. This can have profoundly positive impacts on an individual's emotional health and overall standard of living. For example, in April 2023 as per the National Health Commission, a department based in China, over 250 million Chinese individuals reported experiencing hair loss, out of which 42% were between the ages of 26 and 30. Adding to this, as per Statistic Brain Research Institute, a U.S.-based educational institute, roughly 40% of men will experience noticeable hair loss by the time they reach age 35, as recorded in February 2023. As a result, the growing occurrence of hair loss is catalyzing the alopecia market's expansion.
Alopecia Market Driver: Rise in Government's Proactive Steps
What Are The Major Segments Within The Global Alopecia Market?
The alopecia market covered in this report 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
Subsegments:
1) By Alopecia Areata: Patchy Alopecia Areata, Persistent Patchy Alopecia Areata, Alopecia Universalis, Diffuse Alopecia Areata, Ophiasis
2) By Androgenetic Alopecia: Male Pattern Baldness, Female Pattern Hair Loss
3) By Alopecia Totalis: Complete Scalp Hair Loss
4) By Traction Alopecia: Frontal Traction Alopecia, Occipital Traction Alopecia
5) By Cicatricial Alopecia: Lichen Planopilaris, Discoid Lupus Erythematosus, Central Centrifugal Cicatricial Alopecia, Frontal Fibrosing Alopecia, Folliculitis Decalvans
6) By Other Types: Telogen Effluvium, Anagen Effluvium, Trichotillomania
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Which Emerging Market Trends Are Altering The Alopecia Industry?
Leaders in the alopecia market, such as major firms, are concentrating on creating novel therapies to secure a competitive edge. For example, in June 2022, American pharmaceutical giants, Eli Lilly and Company and Incyte, revealed the FDA approval for their Luminant oral tablets. This marks as the first sanction from the FDA for a systemic treatment for severe alopecia areata in adults. In addition to this, Olumiant is recommended for adult patients suffering from moderately to severely active rheumatoid arthritis who haven't responded adequately to one or more tumor necrosis factor (TNF) blockers.
Who Are the Key Players In The Alopecia Market?
Major companies operating in the alopecia market are:
• 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.
What Is The Most Dominant Region In The Alopecia Market?
North America was the largest region in the alopecia market in 2024. 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.
