Alopecia Treatment Market Forecasts from 2023 to 2028

The alopecia treatment market is estimated to grow at a CAGR of 7.46% to reach US$6, 315.600 million in 2028 from US$3, 815.895 million in 2021.

Alopecia refers to an autoimmune disorder that leads to excessive hair loss. Unhealthy diets and sedentary lifestyles coupled with age and other hormonal factors lead to alopecia. Alopecia is not completely curable but can be reduced by treating the hair follicles and hair growth can be resumed when treated at an early stage. Moreover, the increasing inclination of people towards aesthetic beauty is also one of the reasons for increasing the market growth in the projected period.

Rising Prevalence of Alopecia

Rising awareness among people for physical well-being and increased prevalence of alopecia among young people is increasing the need for its well-designed treatment which is propelling the overall market growth. According to, the United States National Library of Medicine alopecia areata affects 1 in every 500 to 1, 000 persons in the United States and this number is expected to show growth in the coming years. According to a report by Pfizer Inc., an estimated 147 million people globally and approximately 6.8 million people in the U.S. are suffering from alopecia areata. The hormonal changes coupled with increasing stress among people are increasing in recent times, along with rapid product launches in the market for treating alopecia areata is providing an edge for market growth in the coming years.

Improved investment in drug development

Improved investment in drug development coupled with new drug approval for commercial use is giving the market an edge to grow. For instance, in June 2022, FDA approved Lilly and Incytes’s OLUMIANT (baricitinib) as the first and only systemic medicine for adults suffering from severe alopecia aerate. The drug is an oral pill that is available in 4mg, 2mg, and 1mg tablets. After the approval of this drug, many companies applied for FDA approval, and many drugs got approved in recent times.

Institutional Support

There are many charitable organizations and pharmaceutical companies in the United States that work to find treatments for alopecia. For instance, the National Alopecia Areata Foundation (NAAF), a non-profit group based in the United States, provides support to the alopecia areata community. Additionally, it promotes public awareness of alopecia areata and the research needed to find a suitable therapy or cure for the disorder. Additionally, many modern medicinesfor the treatment of alopecia have already been approved by regulatory organizations, and many more are in production and are anticipated to be approved.

North America is Expected to Grow Significantly

The well-established presence of pharmaceutical companies working towards the effective treatment of alopecia coupled with the high prevalence of hair loss, chronic illnesses linked to hair loss, and rising healthcare costs for alopecia treatments are driving the regional market growth. Further, as more people become aware of hair loss, there is a growing need for painless treatments with few effects. Further, due to changing living habits among millennials and rising levels of stress among working-class women, the market has seen a surge in the number of millennials who are experiencing hair loss, which is projected to fuel demand for treatment for hair loss products and other hair care products. For instance, according to the 2022 report by the American Hair Loss Association, two-thirds of American males by the age of 35 have notable hair loss, and by the age of 50, 85% of men have noticeably thinned hair.

Major Market Player

• Sun Pharmaceuticals' robust clinical program and phase testing are focused on the development of medicine to treat adults suffering from moderate to severe alopecia areata. The company besides rigorous clinical trials and active investments in phase testing has also shown active participation in acquisition strategy to bolster its market name for alopecia treatment.

Key Market Developments

• In March 2023, Sun Pharma acquired Concert Pharmaceutical, for advancing the treatment of alopecia areata. This deal aims to promote drugs that can treat alopecia areata among people.
• In August 2022, Concert Pharmaceuticals, Inc. recently reported positive results from its latest Phase 3 clinical trial, THRIVE-AA2. The percentage of patients with an absolute Severity of Alopecia Tool (SALT) score of 20 or lower at Week 24 of treatment was the primary efficacy endpoint for THRIVE-AA2, and it was achieved relative to placebo in both the 8 mg twice-daily and 12 mg twice-daily dose groups. CTP-543 therapy was often well tolerated.

Segmentation:

By Condition Type

• Alopecia Areata
• Alopecia Totalis
• Alopecia Universalis

By Medication Type

• Oral
• Topical
• Others

By Geography

• North America
• By Condition Type
• By Medication Type
• By Country
• United States
• Canada
• Mexico
• South America
• By Condition Type
• By Medication Type
• By Country
• Brazil
• Argentina
• Others
• Europe
• By Condition Type
• By Medication Type
• By Country
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• By Condition Type
• By Medication Type
• By Country
• Saudi Arabia
• United Arab Emirates (UAE)
• Israel
• Others
• Asia Pacific
• By Condition Type
• By Medication Type
• By Country
• Japan
• China
• India
• South Korea
• Thailand
• Indonesia
• Taiwan
• Others