Alopecia Treatment Market - Global Forecast to 2026
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Frequent launch, approvals, and robust pipeline of alopecia treatment products is expected to drive the growth of market
In recent past, regulatory bodies have approved novel drugs for treatment of alopecia and many drugs are in pipeline, which are expected to receive approval in near future. Approval of novel drugs and presence of robust drug pipeline is expected to drive global alopecia treatment market growth in near future. For instance, in January 2018, Concert Pharmaceuticals, Inc., a U.S.-based company received Fast Track designation from U.S. Food and Drug Administration (FDA) for its novel product CTP-543. CTP-543 is a novel, oral Janus kinase (JAK) inhibitor for the treatment of moderate-to-severe alopecia areata.
In April 2018, Concert Pharmaceuticals, Inc., finished patient recruitment for Phase 2a trial evaluating CTP-543 for the treatment of moderate-to-severe alopecia areata. In January 2018, HCell Inc., a Texas-based biotechnology company received Orphan Drug Designation (ODD) for HC017AA drug from U.S. Food and Drug Administration (FDA). HC017AA is an underdevelopment drug indicated for non- surgical treatment for Alopecia Areata in Pediatric Patients. In 2016, Galderma Laboratories, L.P., a company focused on development of dermatology and skin health launched its new qilib Hair Regrowth + Revitalization System and qilib Hair Health Reinforcement Biotin + Multivitamin Supplement. The qilib system is indicated for hair regrowth and contains clinically proven, prescription-strength minoxidil specifically formulated for men (5% minoxidil) or women (2% minoxidil). In 2017, Perrigo Company Plc. Launched over-the-counter (OTC) Women's Rogaine 5% minoxidil foam (minoxidil topical aerosol, 5% foam). Women's Rogaine 5% minoxidil foam (minoxidil topical aerosol, 5% foam) is indicated to regrow hair on top of the scalp. The launches of such novel products in market is expected to drive the global alopecia market growth in near future.
The global alopecia treatment market size was valued at US$ 7.4 Bn in 2017, and is expected to witness a CAGR of 5.6% over the forecast period (2018 – 2026).
Increasing prevalence of alopecia is expected to propel demand for its treatment drugs
According to the data published by National Center for Biotechnology Information (NCBI), in 2015, androgenetic alopecia is most prevalent autoimmune disorder and the second most prevalent hair loss disorder with around 2% population worldwide suffering from androgenetic alopecia. According the data published by Arch Argent Pediatr, in 2017, the prevalence of Alopecia areata is higher in the age group of 10 and 25 years and around 60% of people under these age group suffers from Alopecia areata. Therefore, high prevalence of alopecia is expected to propel demand for its treatment drugs, which in turn is expected to create a lucrative environment for the global alopecia treatment market growth in near future.
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The presence of alternative treatment option for alopecia is expected to be major factor restraining the global alopecia treatment market growth in near future. For instance, methods such as hair transplant surgery, laser and light-based therapies are expected to hinder the growth of market.
Key players operating in the alopecia treatment market include Histogen, Inc., Aclaris Therapeutics, Inc., Concert Pharmaceuticals, Inc., HCell Inc., GlaxoSmithKline Plc., Daiichi Sankyo, Inc., Cipla Limited, and others.
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