Alopecia Treatment Market Size, Share & Industry Analysis, By Route of Administration (Topical, Injectable, Oral), By Gender Type (Male, Female), By Age Group (Below 18 years, 18 - 34 Years, 35 - 49 Years, Above 50 Years), By End User and Regional Forecast, 2020-2032

The global alopecia treatment market size was valued at USD 8,894.8 million in 2019 and is projected to reach USD 16,101.8 million by 2032, exhibiting a CAGR of 4.5% during the forecast period.

Alopecia areata is a condition that causes hair loss in both male and female. The hair loss can be seen in patches. This condition occurs when the hair follicles are attacked by immune system, ultimately resulting in hair loss. Unexpected hair loss may occur majorly on the scalp and in some cases, the eyelashes, eyebrows, and face. This condition can be seen in other parts of the body as well. If the condition is not treated in its initial stage, it might result in complete hair loss, called alopecia universalis. Moreover, the extremity of alopecia universalis is that it might prevent hair growth for eternity. 

The extent of this condition varies from person to person. There was no permanent cure for alopecia areata. However, after several researches on the condition, various drugs and topical solutions were developed as a treatment option that may help hair grow back and prevent from further hair loss. There are various topical solutions in the form of gels, serums, and shampoos that are being commercialized for the treatment of alopecia. Also, several oral drugs and injectable procedures are approved in dermatology clinics and other medical settings as a treatment solution for people suffering from alopecia. Hence, increasing research and development activities to manufacture permanent cure for the condition will significantly drive this market growth during the forecast period.

MARKET TRENDS

Rising Drug Pipeline for Treatment to Contribute to Alopecia Treatment Market Growth

Rising demand for drugs and other pharmaceuticals for the treatment of alopecia is one of the major growth driving factors. Owing to increasing demand for such drugs, various organizations have focused on R&D activities to manufacture oral as well as topical drugs as a treatment solution for alopecia. For instance, in 2018 Follicum AB, a pharmaceutical company announced the clinical ‘phase IIa’ trial of FOL-005 for the treatment of alopecia. The clinical results of the FOL-005 were promising for the treatment of alopecia. However, the treatment length and dosage will probably need to be optimized to gain maximum effect. The company also announced the clinical ‘phase IIa’ trial for topical drugs of FOL-005 on male alopecia-patients in 2020. Hence, increasing number of drugs in the pipeline as a treatment solution for alopecia will strongly support hair fall treatment market growth during the projected timeframe.

MARKET DRIVERS

Increasing Prevalence of Alopecia across the Globe will Facilitate Market Growth

Increasing prevalence of alopecia across the world is one of the primary factors augmenting alopecia treatment market growth during the forecast period. Increasing habit of binge eating coupled with sedentary lifestyle and growing stress levels are responsible for severe hair loss and damage. This disease is mostly prevalent in male. However, it affects women as well. Growing inclination towards aesthetic beauty is one of the factors influencing the population to adopt treatment for the condition and thereby augmenting hair fall treatment market growth. According to the International Society of Hair Restoration Surgery (ISHRS), each year, about 35 million men in the U.S. are affected by alopecia. This growing incidence is likely to captivate the population towards hair reinstatement treatment options. Moreover, the launch of innovative products is also expected to draw patient population towards this market across the projected timeframe. According to ISHRS, due to the increasing incidence of the disease, hair restoration procedures have been grown by more than 60% since 2015. Hence, rising patient pool and prevalence of alopecia are estimated to elicit lucrative growth of this market during the forecast period.

Rising Investments and Research Funding for Alopecia Treatment will Bolster Growth

Increasing investments and funds to support the market is one of the major factors aiding to expansion of the market. In 2014, the National Alopecia Areata Foundation (NAAF) has funded USD 1.65 million for the recent clinical trials with JAK inhibitors that resulted effective for re-growing hair in people suffering from alopecia areata. NAAF’s strategic investment of USD 1.65 million to sustain the development of a mouse model, and immunogenetic research for several alopecia treatments will significantly drive market during the foreseeable period. Moreover, increasing strategic partnership with various public and private organizations with the aim to develop treatment solutions for alopecia will further boost hair fall treatment market growth. For instance, in 2015, NAAF participated in first focus group with 6 pharmaceutical companies for the development of alopecia areata treatment programs. Hence, such initiatives will significantly drive the market.

MARKET RESTRAINT

Side Effects Associated with Alopecia Treatment Might Restrict Growth  

Despite the increasing demand for treatment solutions, the side effects associated with the use of alopecia drugs might hinder growth up to a certain extent. For instance, the oral drug finasteride is approved for treatment despite various side effects such as impotence, ejaculation disorders, breast tenderness or enlargement, and testicular pain. Hence the associated side effects of alopecia drugs are one of the preliminary factors restricting growth.

SEGMENTATION

By Route of Administration Analysis

Increasing Demand for Alopecia Topical Solutions will Stimulate Growth

Based on route of administration, the alopecia treatment market is segmented into topical solutions, injectable treatment, and oral drugs. The topical solution segment is anticipated to dominate the market across the analysis period owing to the increasing demand for topical alopecia treatment solutions. The topical solutions are available in the form of topical ointment, medicated hair serum, gel, and even medicated shampoos. These products are easily available and people often tend to buy products with minimal complications such as ease of usage, availability, and completely non-invasive in nature. Moreover, there are several topical solutions that can be obtained through medical spa or saloon. Also, growing number of companies focusing on R&D activities to manufacture such topical products will further stimulate growth during the forecast period. 

The oral drugs segment earned significant revenue in 2019 and is likely to continue doing so in the forecast period. This is attributable to the increasing approval of oral drugs for the treatment of alopecia. There are very few effective drugs commercialized for treating this condition. However, growing R&D activities by several companies in the process of drug development for alopecia is projected to reflect a positive growth trajectory for the oral drugs segment. The process of drug development might take 10 to 15 years but since the clinical trials were initiated long back, the alopecia oral drugs are expected to be commercialized during the analysis period. Hence, this segment is expected to witness lucrative growth opportunity during the forecast timeframe.

By Gender Type Analysis

Increasing Prevalence of Androgenic Alopecia to Aid Dominance of Male Segment

Based on gender type, the market is segmented into male and female. The male segment is expected to dominate the market. This is attributed to the increasing number of treatment solutions adopted by male across the globe. The prevalence of alopecia is dominant in male, thereby leading to larger revenue generation from this segment. Androgenic alopecia is the hair loss in men. As per the International Society of Hair Restoration Surgery (ISHRS), each year, about 35 million men in the U.S. are affected by male pattern baldness. Increasing prevalence of androgenic alopecia is the most prominent factor supporting segmental growth.

The female segment, on the other hand, is estimated to witness stable growth during the analysis period. Increasing inclination towards aesthetic beauty among females is one of the major factors stimulating growth.

 By Age Group Analysis

Increasing Middle Aged Patient Pool to Aid in Expansion of 35 - 49 years Age Group Segment

By age group, alopecia treatment market is classified as below 18 years, 18 - 34 years, 35 - 49 years, and above 50 years. The 18 - 34 years segment is estimated to hold maximum shares owing to increasing number of young adults adopting alopecia treatment. The patient pool between 18 – 34 years mostly suffer from alopecia areata, which is the initial stage of the condition and thus seek for immediate treatment to avoid further hair loss. Hence, this segment held maximum shares in 2019 and estimated to continue doing so during the forecast period.

The 35 - 49 years segment is estimated to witness considerable growth during the forecast period. This is attributable to the increasing prevalence of alopecia among the middle aged people. People at this age are more prone to severe hair loss owing to several health conditions such as diabetes, hyper tension, stress, sedentary lifestyle and few others. Such health conditions are some of the major factors leading to the development of the disease among middle aged people.

By End User Analysis

Rising Number of Dermatology Clinics across Globe will Propel Segment Growth

By end-user, the global market is classified into hospitals & physicians’ offices, dermatology clinics and others. The dermatology clinics segment held the leading position in the market attributed to factors such as increasing number of dermatology clinics, coupled with growing number of trichologists across the globe. Moreover, the rising awareness among people about several benefits of hair treatment is another important factor drawing patient pool towards these facilities and thereby augmenting the growth of this segment during the forecast period.

Hospitals and physician’s offices on the other hand, are forecasted to witness a stable growth during the analysis period. Positive growth is attributable to the increasing number of patient pool visiting such medical settings to opt for hair treatment. Moreover, increasing strategic partnership with several private and public companies in order to acquire various hair treatment solutions is another significant factor augmenting growth of this segment in this market during the projection period.

REGIONAL ANALYSIS

Geographically, this alopecia treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, Asia Pacific held the lion’s share with a revenue of USD 3,114.14 million earned in 2019. High growth is owing to the growing prevalence of alopecia in the region. According to several research studies conducted by researchers, the population in Asia Pacific have higher chances of developing alopecia due to the increasing adoption of sedentary lifestyle, growing binge eating habits, and a higher rate of cigarette consumptions that ultimately leads to weak immune system and increase in the stress level. These factors strongly contribute to the natural progression of alopecia disease over time. Increasing prevalence of hair loss has led the region to become a potential market for investors. Additionally, the establishment of dermatology clinics in the region, coupled with higher investments in the advancements of the transplantation systems is contributing to the regional growth of Asia Pacific market. Moreover, the region has high growth potential in terms of aggressive regional penetration of multiple hair treatment companies in countries such as Australia and Japan.  Furthermore, the growing concerns among people pertaining to aesthetic factors and presentable looks for the society is one of the most crucial psychological factors influencing people to adopt hair treatment and thus propelling the growth. The Middle East & Africa alopecia market on the other hand is estimated to witness lucrative growth during the analysis period owing to increasing number of hair procedures being conducted in the region. Also, market in Saudi Arabia and UAE has tremendous growth potential owing to rising medical tourism in these countries.

KEY INDUSTRY PLAYERS

Core Focus on Research and Development Activities by Aclaris Therapeutics, Inc., and Follicum to Propel their Market Position.

The competitive landscape of this market is fragmented in nature. The market exhibits a low level of concentration, with no single-player holding the dominant share. This is majorly attributed to the plethora of products commercially available in several regions of the world. Alopecia products include oral and topical treatments, scalp injectable, and restorative hair treatment. Over the past few years the market share concentration has remained low and is forecasted to have a steady pace of growth in the forecast period.    

However, few of the players operating in the alopecia treatment market are Aclaris Therapeutics, Inc., Follicum, Fagron, and few others. Among these, Aclaris Therapeutics, Inc. is one of the top players devoted to constant rigorous research and development of the novel formulation. For instance, In August 2017, the company proposed a novel drug application for ATI-50002 a topical Janus Kinase (JAK) 1/3 inhibitor, for patchy alopecia areata (AA). Later, the company also initiated other clinical trials for various phases of treatment. For instance, in June 2019, Aclaris Therapeutics announced encouraging 6-month results from a Phase 2 clinical trial of ATI-502 for patients suffering from androgenetic alopecia. Hence, such diligent efforts assisted the company to gain a strong foothold in this market.

LIST OF KEY PLAYERS PROFILED:

• Aclaris Therapeutics, Inc.


• Follicum AB


• Fagron


• Concert Pharmaceuticals Inc.


• Sun Pharmaceutical Industries Ltd.


• Daiichi Sankyo


• Cipla Inc.


• Johnson & Johnson


• GlaxoSmithKline plc.


• Merck & Co., Inc.,


• Others

KEY INDUSTRY DEVELOPMENTS:

• January 2021 – Follicum AB announced that they have completed the Phase IIa study for their product FOL-005 for the treatment of patients suffering with hair loss. The trial was conducted on 200 male patients to examine the safety and efficacy of different doses of this drug.


• May 2021 –Concert Pharmaceuticals, Inc. announced that they have initiated the THRIVE-AA2 Phase 3 Clinical Trial for their investigational drug CTP-543. This drug is used for the treatment of patient suffering from alopecia areata. The results for this clinical trial will help the company get approval from the U.S. FDA.


• March 2020 – Eli Lily and Company and Incyte Corporation announced that they have received breakthrough therapy designation from U.S. FDA for baricitinib for the treatment of alopecia areata.


• July 2019 – Aclaris Therapeutics, Inc. a bio-pharmaceutical company announced that they received positive test results from their Phase 2 Clinical Trial for their oral drug ATI-501 for the treatment of alopecia areata. According to the result subjects witnessed significant improvement in various measure of hair.

REPORT COVERAGE

The alopecia treatment market report provides a detailed analysis of the industry and focuses on key aspects such as novel product launch, leading market players pertaining to the alopecia treatment solutions, and others. Besides this, the report offers insights into the market, highlights key industry developments and current trends. In addition to the above mentioned factors, the report includes various factors that have contributed to the growth of the market over the recent years. Moreover, the report will provide detailed product pipeline analysis and insights on funding scenario pertaining to research and development of alopecia drugs.

Report Scope & Segmentation