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US$ 10,000 Mn in 2026|Alopecia Drugs Market Size Is Set To Expand With CAGR Of 4.8% By 2026

The global alopecia drugs market is projected to reach a value of over US$ 10,000 Mn in 2026 at a CAGR of 4.8% over the forecast period.

Alopecia is a hair loss condition which affects scalp of individuals. It causes clumps of hair to fall out resulting in hairless patches on scalp or other areas of the body. In some cases, individuals affected by alopecia may have thinner hair leading to unnoticeable patches of baldness, leaving short snubs called exclamation point hair. Alopecia drugs have proven useful in treating hair loss conditions to a significant extent in both males and females. The drugs are prescribed by healthcare professionals depending on the type of alopecia, age and extent of hair loss. For individuals with more than 50% hair loss on their scalp or other body parts, oral and topical medications have shown fruitful outcomes. The medications commonly used for the treatment of alopecia are specifically approved by the Food and Drug Administration (FDA). Assessment of the efficacy of a drug must be considered with care as the condition is highly unpredictable and vary in presentation, evolution, and response to treatment.

Global Alopecia Drugs Market Dynamics:
Increasing incidence of hair loss in both males and females across the globe is a key factor driving growth of the global market over the forecast period. For instance, the American Academy of Dermatology stated that around 80 million people suffered from hair loss problems in US alone in 2016. Another factor fueling global market is increasing awareness among individuals pertaining to availability of various treatments in the market, which can be attributed to the initiatives taken by several regulatory bodies such as the National Alopecia Areata Foundation (NAAF) and the American Hair Loss Association (AHLA). Rapunzel Project is an initiative by AHLA which works to prevent hair loss in chemotherapy patients. Furthermore, approval of janus kinase inhibitors (JAK) drugs with minimal side effects by FDA is other factor expected to impel growth of target market in the near future.

Market Analysis by Alopecia Drugs Route of Administration:

On the basis of route of administration, topical segment is expected to account for major share in terms of revenue in the global market and is projected to register a CAGR of over 5% over the forecast period, owing to its easy application, high absorbability on scalp, and non-invasive nature. Topical treatment involves topical corticosteroids that are available in various forms such as lotions, gels, and liquids. Moreover, the topical segment is projected to maintain its dominant revenue contribution in the global market over the forecast period.

Global Alopecia Drugs Market Analysis by Gender:

Male segment dominated the global alopecia drugs market in revenue terms, accounting for highest revenue share and registering a CAGR of over 4.5% during the forecast period 2017 & 2026. It is further projected to maintain its dominant revenue contribution over the forecast period, owing to higher smoking and drinking habits of men as compared to women.

The occurrence of alopecia is most common in men than in women. According to a 2014 survey by the International Society of Hair Restoration Surgery, an estimated 35 Mn men and 21 Mn women suffered from hair loss in US.

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Global Market Analysis by Region:

The market in Asia Pacific is projected to register a significant growth of around 7%, which is relatively higher than that of markets in other regions. Increasing incidence of hair loss in both males and females, rising awareness levels among individuals about available treatment options and rising disposable income in emerging economies such as China, India and Singapore are factors expected to create high potential growth opportunities in the Asia Pacific market over the forecast period. Product expansion by the key players in the emerging economies is another major factor boosting growth in the Asia Pacific region. For instance, AVODART was approved for treatment of alopecia in South Korea in 2010 and in Japan in September 2015.

Moreover, markets in Latin America and Middle East & Africa are also projected to witness moderate growth over the forecast period owing to recent advancements in technology, increasing healthcare expenditures, rising initiatives by regulatory bodies and augmented healthcare facilities are expected to boost the target market.

Companies profiled in the report are Cipla Inc., Reddy’s Laboratories Ltd., Johnson & Johnson, Merck & Co., Ranbaxy Laboratories Ltd., The Himalaya Drug Company, Taisho Pharmaceutical Holdings Co., Sun Pharmaceutical Industries Ltd. and Others.

Updated : 2022-01-29 10:28 GMT+08:00