Autoimmune Diseases are the Major Driver of the Global Alopecia (Hair Loss) Treatment Market Growth

According to the estimations put forth by Inkwood Research, the Global Alopecia (Hair Loss) Treatment Market is projected to develop with a CAGR of 4.56% in terms of revenue during the forecasting years of 2021-2028.

"Browse 63 Market Data Tables and 52 Figures spread over 150 Pages, along with an in-depth TOC on the Global Alopecia (Hair Loss) Treatment Market Forecast 2021-2028."

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Alopecia is a condition that causes hair loss in small patches, which can be unnoticeable. This is because the immune system attacks the hair follicles, leading to hair loss. It affects males, females, and children.

Rising Autoimmune Diseases Drive Market Growth

In an autoimmune disorder, the immune system mistakenly attacks and destroys healthy body tissue. Also, there has been an increasing prevalence of autoimmune diseases globally. As per the National Stem Cell Foundation, almost 4% of the world's population has more than 80 different autoimmune diseases.

Further, according to the American Autoimmune Related Diseases Association (AARDA) estimations, around 50 million have Americans have an autoimmune disease. Moreover, as per the Australasian Society of Clinical Immunology and Allergy (ASCIA), almost 5% of people are affected by the autoimmune disease in Australia and New Zealand.

Furthermore, autoimmune diseases in healthy people cause round, smooth patches of hair loss on the scalp and other body areas. Some autoimmune diseases causing alopecia are psoriasis, Grave's Disease, Hashimoto's Disease, lupus, cancer, and Alopecia Areata.

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Topical is the Major Treatment as of 2020
Topical solutions include creams, oil, shampoos, gels, serums, and ointments, used widely worldwide. People undergoing hair loss majorly prefer topical treatment since it has lesser side effects. Also, it is a convenient treatment type with topical solutions available by the over-the-counter method in drug stores.

Furthermore, most pharmaceutical companies like Dr. Reddy's Laboratories, Cipla, and The Himalaya Drug Company, offer hair loss solutions in topical form, which are also cost-effective. Moreover, hair treatment clinics use topical solutions since they work directly on the scalp. In addition, people with general hair loss due to pollution or aging prefer topical hair regrowth solutions.

North America is the Major Region

The region has an advanced healthcare system with several pharmaceutical companies working on medical solutions for effective treatment. The increasing disposable incomes and growing emphasis on aesthetics among the young population benefit market growth. Moreover, the region has various charitable organizations and research bodies working dedicatedly to find reliable Alopecia cures.

The domination of few players makes the market fragmented and intense. Also, manufacturers are constantly engaged in developing different product ranges like serum and cream and medical advancements. Such factors make the competitive rivalry high. Sun Pharmaceutical Industries Ltd, Merk & Co Inc, Cipla Ltd, Johnson and Johnson, Teva Pharmaceuticals Industries Ltd, etc., are among the eminent market players.

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This release was published on openPR.