The Alopecia Market Size is valued at USD 8.6 billion in 2023 and is predicted to reach USD 17.8 billion by the year 2031 at a 9.8% CAGR during the forecast period for 2024-2031.
Alopecia is an autoimmune disease that damages hair follicles and causes hair loss. The commercial landscape for medicines and treatments targeting this condition is included in the worldwide Alopecia Market. Hence, the rising cases of chronic diseases related to hair loss are expected to increase the alopecia market in the near future. The growing prevalence of hair loss and advancement in technology are factors expected to drive the growth of the global Alopecia market. Rising healthcare expenses, growing disposable income, and increasing emphasis on aesthetic appearance are some of the other factors expected to boost the market expansion in the coming years.
However, the high cost of Alopecia, negative effects of hair loss treatments, and the COVID-19 pandemic may hinder target market expansion throughout the foreseeable year. Over the forecast period, rising R&D, government initiatives to use sustainable materials, and major player investments are expected to create lucrative revenue growth opportunities for global Alopecia market players.
Competitive Landscape
Some Major Key Players In The Alopecia Market:
- Janssen Global Services Inc.
- Cipla Limited
- Merck & Co., Inc.
- GlaxoSmithKline Plc
- Sun Pharmaceuticals Industries Ltd
- Dr Reddy's Laboratories Ltd
- Aurobindo Pharma
- Viatris Inc.
- Pfizer, Inc.
- Eli Lilly
- Lexington Intl., LLC
- Freedom Laser Therapy
- Curallux, LLC
- Apira Sciences Inc.
- Revian Inc.
- Theradome
- Lutronic
- iRestore Hair Growth System
- iGrow Laser
- Theradome
- Other Market Players
Market Segmentation:
The Alopecia market is segmented on the basis of disease type, treatment, gender, sales channel, and end use. Based on disease type, the market is segmented as alopecia areata, cicatrical Alopecia, traction alopecia, alopecia totalis, alopecia universalis, androgenetic Alopecia, and others. By treatment, the market is segmented into pharmaceuticals and devices. The gender segment consists of male and female. As per the sales channel, the market is segmented into prescriptions and OTC. By end use, the market is segmented into homecare settings and dermatology clinics.
Based On Disease Type, The Alopecia Areata Segment Accounts For A Major Contributor To The Alopecia Market.
The alopecia areata category is expected to hold a major share of the global Alopecia market in 2023. This is attributed to growing consumer awareness about the disease. According to the National Alopecia Areata Foundation, about 147 million people globally are affected by Alopecia. Additionally, the growing development of novel therapy and favorable advantages in the process of approval are anticipated to increase market growth.
The Male Segment Witnessed Growth At A Rapid Rate.
The male segment is estimated to grow at a rapid rate in the global Alopecia market owing to the increasing prevalence of hair loss in the male population globally. Hence, with the growing tobacco intake in men and an increasing aged population, there is an increase in demand for Alopecia in the healthcare hair loss sector.
In The Region, The North American Alopecia Market Holds A Significant Revenue Share.
The North American alopecia market is expected to report the prominent market share in terms of revenue in the near future. This can be attributed to the strong focus on hair loss disease in the region, with the increasing adoption of Alopecia. In addition, increasing adoption of laser-based therapy for treatment and rising consumer awareness is anticipated to increase the market growth. Government and non-profit organizations' initiatives to create consumer awareness in the region are factors increasing the growth of the target market. The Asia Pacific is esetimated to grow with at a rapid rate in the global Alopecia market due to growing demand for effective treatment options, government initiatives, increasing funding in various industries.
Recent Developments:
- In July 2024, Sun Pharmaceutical Industries Ltd has announced that its LEQSELVI (deuruxolitinib) drug has been approved by the US health regulatory agency to treat severe alopecia areata in adults. Sun Pharma disclosed in a regulatory filing that the USFDA has granted approval for LEQSELVI (deuruxolitinib) 8 mg tablets.
- In July 2023, REVIAN Inc. released that the Revian Red Hair Growth System is anticipated to be in the second study. It is projected as an effective treatment option for Central Centrifugal Cicatricial Alopecia.
Alopecia Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 8.6 Bn |
|
Revenue Forecast In 2031 |
USD 17.8 Bn |
|
Growth Rate CAGR |
CAGR of 9.8% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Disease Type, Treatment, Gender, Sales Channel, And End Use |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Janssen Global Services Inc., Cipla Limited, Merck & Co., Inc., GlaxoSmithKline Plc, Sun Pharmaceuticals Industries Ltd, Dr. Reddy’s Laboratories Ltd, Aurobindo Pharma, Viatris Inc., Pfizer, Inc., Lilly, Lexington Intl., LLC, Freedom Laser Therapy, Curallux, LLC, Apira Science Inc., Revian Inc., Theradome, and Lutronic. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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