What Has Been the Growth of the Androgenetic Alopecia Treatment Market So Far?
The androgenetic alopecia treatment market has seen considerable growth due to a variety of factors.
• The androgenetic alopecia treatment market has experienced strong growth in recent years. It will increase from $2.29 billion in 2024 to $2.47 billion in 2025, at a compound annual growth rate (CAGR) of 7.9%.
The growth is linked to the emphasis on improving patient outcomes, the rise in the geriatric population, and increasing healthcare expenditure.
What Is the Forecasted Market Size and Growth Rate for The Androgenetic Alopecia Treatment Market?
The androgenetic alopecia treatment market is expected to maintain its strong growth trajectory in upcoming years.
• The androgenetic alopecia treatment market is expected to grow strongly, reaching $3.3 billion by 2029 with a CAGR of 7.5%.
Growth is attributed to the increasing prevalence of hair loss, chronic diseases such as cancer and PCOS, and demand for effective hair loss solutions. Trends include product partnerships, approvals, investments, and ongoing research and development.
What Factors Are Driving Growth In The Androgenetic Alopecia Treatment Market?
The increasing incidence of hair loss is expected to drive the growth of the androgenetic alopecia treatment market. Androgenetic alopecia, a common form of hair loss, is influenced by genetics, hormonal changes, stress, and nutritional deficiencies. Treatments aim to regulate hormones, stimulate hair follicles, and promote regrowth. For example, in March 2022, the Hair Society reported that 21 million women and 35 million men worldwide suffer from hair loss. In the UK, approximately 8 million women and 6.5 million men are affected by hair loss, with over 650,000 hair transplants performed annually. The growing prevalence of hair loss is contributing to the expansion of the androgenetic alopecia treatment market.
What Are The Main Segments Of The Global Androgenetic Alopecia Treatment Market?
The androgenetic alopecia treatment market covered in this report is segmented –
1) By Treatment Type: Pharmaceutical, Device
2) By Medication Type: Prescription, Over-The-Counter
3) By Gender: Male, Female
4) By End-User: Homecare Settings, Dermatology, Clinics, Other End-Users
Subsegments:
1) By Pharmaceutical: Oral Medications ( Finasteride), Topical Medications (Minoxidil), Hormonal Therapy
2) By Device: Laser Therapy Devices, Hair Transplant Devices, Scalp Micropigmentation Devices
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What Emerging Trends Are Influencing The Growth Of The Androgenetic Alopecia Treatment Market?
Companies in the androgenetic alopecia treatment market are developing drugs that promote hair follicle regeneration, inhibit hair-loss-causing hormones, and use novel delivery systems such as topical treatments and oral medications. For instance, in June 2023, Pfizer Inc., a US-based healthcare company, received FDA approval for LITFULO (ritlecitinib), an oral treatment for severe alopecia areata in individuals aged 12 and older. LITFULO is a kinase inhibitor that blocks JAK3 and TEC family kinases. The FDA’s approval was based on the ALLEGRO trial, where 23% of patients using LITFULO achieved 80% scalp hair coverage after six months, offering a new treatment option for alopecia areata.
Who Are the Key Players In The Androgenetic Alopecia Treatment Market?
Major companies operating in the androgenetic alopecia treatment market are:
• Johnson & Johnson
• Merck & Co. Inc.
• AbbVie Inc.
• Eli Lilly and Company
• Daiichi-Sankyo Co. Ltd.
• Sun Pharmaceutical Industries Ltd.
• Allergan Plc
• Aurobindo Pharma Limited
• Dr Reddy's Laboratories Ltd.
• Cipla Limited
• Fagron Inc.
• Vitabiotics Ltd.
• Cosmo Pharmaceuticals NV
• Aclaris Therapeutics Inc.
• Curallux LLC
• PureTech Health
• Technoderma Medicines Inc.
• Theradome Inc.
• Lexington International
• HCell Inc.
• Follica Inc.
• Ranbaxy Laboratories Ltd.
• Apira Science Inc.
• Freedom Laser Therapy Inc.
• Histogen Inc.
What Is The Most Dominant Region In The Androgenetic Alopecia Treatment Market?
North America was the largest region in the androgenetic alopecia treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the androgenetic alopecia treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
