Global Alopecia Market By Disease type: Alopecia Areata, Cicatricial, Traction, Androgenetic Alopecia

According to the latest research by SkyQuest Technology, Global Alopecia Market Size was valued at US$ 8.7 billion in 2021, and it is expected to reach a value of US$ 15.10 billion by 2028, at a CAGR of 8.2% over the forecast period (2022 - 2028). The research provides up-to-date Alopecia Market analysis of the current market landscape, latest trends, drivers, and overall market environment.

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The rising prevalence of alopecia, advancements in alopecia treatment technology, and the rising frequency of chronic illnesses connected to hair loss are some of the major factors driving the market. According to studies from the American Hair Loss Association, androgenetic alopecia accounts for over 95 % of male pattern baldness. Similar to this, according to data by the International Society of Hair Restoration Surgery, close to 40% of males by the age of 35 have some degree of hair loss, followed by 60% at age 60, 70% at age 80, and 85% at age 85.

Healthcare spending is increasing as a result of more campaigns being run to spread knowledge of hair regrowth and available treatment options by organizations like the National Alopecia Areata Foundation and the American Hair Loss Association. The Cheap Care Act of 2021, which increases access to and decreases the cost of healthcare insurance for all Americans, benefits patients from lower socioeconomic backgrounds. The market is expected to grow as a result of the general increase in treatment rates. Additionally, as people's awareness of hair loss increases, there is a growing need worldwide for painless treatments with few side effects. The increasing prevalence of hair loss is one of the key factors supporting the market's expansion. According to the American Academy of Dermatology Association (AAD), 50 million men and 30 million women in the US will have alopecia by 2021. According to data from the Journal of Clinical and Diagnostic Research, pattern hair loss is the most common type of hair loss in both men and women and affects about 60% of people (JCDR). Furthermore, 2% of persons worldwide, regardless of gender, are at risk of developing AA in their lifetime.

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The two biggest consumers on the market are alopecia patients and dermatology practices. Due to purchasers' moderate to strong negotiating power, conventional medicines and cosmetics like hair growth serums are widely available. Since most therapies are off-label and offered in generic form, there are many options to choose from. Consequently, it is expected that during the forecast period, purchasers' negotiating strength will improve. Additionally, it is expected that the threat of substitutes would persist during the expected period. The primary market substitutes include wigs, hairpieces, hair restoration, and hair transplants. The availability of traditional medicines, herbal cures, cosmetic products, and dietary supplements such as containing biotin hurt market expansion. Due to the lack of confidence in the treatment, many patients choose alternatives. The absence of a recognized treatment for alopecia further restricts the utilization of alopecia remedies.

Read market research report, "The global Alopecia market is segmented based on Disease Type, Treatment, Gender, Sales Channel, End-use and Region. Based on Disease Type the market is further sub-segmented into Alopecia Areata, Cicatricial, Traction, and Androgenetic Alopecia. Based on Treatment the market is further sub-segmented into Pharmaceuticals and Devices. Based on Gender the market is further sub-segmented into Male and females. Based on Sales Channel the market is further sub-segmented into Prescriptions, and OTC. Based on End Use the market is segregated into Homecare settings, dermatology clinics, & By Region - Forecast and Analysis 2022-2028" by SkyQuest

The increasing prevalence of hair loss is one of the key factors supporting the market's expansion. According to the American Academy of Dermatology Association (AAD), 50 million men and 30 million women in the US will have alopecia by 2021. According to data from the Journal of Clinical and Diagnostic Research, pattern hair loss is the most common type of hair loss in both men and women and affects about 60% of people (JCDR). Furthermore, 2% of persons worldwide, regardless of gender, are at risk of developing AA in their lifetime.

The two biggest consumers on the market are alopecia patients and dermatology practices. Due to purchasers' moderate to strong negotiating power, conventional medicines and cosmetics like hair growth serums are widely available. Since most therapies are off-label and offered in generic form, there are many options to choose from. Consequently, it is expected that during the forecast period, purchasers' negotiating strength will improve. Additionally, it is expected that the threat of substitutes would persist during the expected period. The primary market substitutes include wigs, hairpieces, hair restoration, and hair transplants. The availability of traditional medicines, herbal cures, cosmetic products, and dietary supplements such as containing biotin hurt market expansion. Due to the lack of confidence in the treatment, many patients choose alternatives. The absence of a recognized treatment for alopecia further restricts the utilization of alopecia remedies.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Global Alopecia Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

Report Findings
● Drivers- As hair loss grows more widespread, the market for alopecia areata is expected to increase. Alopecia is expected to affect 50 million men and 30 million women in the US by 2021, according to the American Academy of Dermatology Association (AAD). According to the Journal of Clinical and Diagnostic Research, pattern hair loss is the most common type of hair loss in both men and women, affecting about 60% of people (JCDR). In addition, 2% of the general population, regardless of gender, is prone to acquiring alopecia areata in their lifetime.
● Restraint- On the other hand, the high cost of the treatment will slow the market's rate of growth. Limited primary care services and a lack of healthcare infrastructure in emerging nations would provide challenges to the market for alopecia areata. Strong regulatory restrictions and a lack of public knowledge will also act as deterrents and hinder market growth over the projection period of 2022-2028.

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What does this Report Deliver?
● Market Estimation for 20+ Countries
● Global Alopecia Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional, and Country-specific Alopecia Market Trends
● Comprehensive Mapping of Alopecia Market Parameters
● Attractive Investment Proposition in the Global Alopecia Market
● Competitive Strategies Adopted by Global Alopecia Market Key Players
● Drivers, Restraints, Opportunities, Challenges, and the impact on the Global Alopecia Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Global Alopecia Market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities, and Growth
● Porter's five force analysis to know the market's condition
● Pricing Analysis and Global Alopecia Market Sales
● Parent market analysis
● Product portfolio benchmarking

SkyQuest has segmented the Global Alopecia Market based on Disease Type, Treatment, Gender, Sales Channel, End-use, and Region.
● Global Alopecia Market by Disease Type Outlook (Revenue, US$ Billion, 2021 - 2028)
o Alopecia Areata
▪ Male
▪ Female
o Cicatricial Alopecia
▪ Male
▪ Female
o Traction Alopecia
▪ Male
▪ Female
o Alopecia Totalis
▪ Male
▪ Female
o Alopecia Universalis
▪ Male
▪ Female
o Androgenetic Alopecia
▪ Male
▪ Female
o Others
▪ Male
▪ Female
● Global Alopecia Market by Treatment Outlook (Revenue, US$ Billion, 2021 - 2028)
o Pharmaceuticals
o Devices
● Global Alopecia Market by Gender Outlook (Revenue, US$ Billion, 2021 - 2028)
o Male
o Female
● Global Alopecia Market by Sales Channel Outlook (Revenue, US$ Billion, 2021 - 2028)
o Prescriptions
o OTC
● Global Alopecia Market by End Use Outlook (Revenue, US$ Billion, 2021 - 2028)
o Homecare Settings
o Dermatology Clinics

● Global Alopecia Market by Region Outlook (Revenue, US$ Billion, 2021 - 2028)
o North America
▪ THE US
▪ Canada
o Europe
▪ The UK
▪ Germany
▪ Rest of Europe
o The Asia Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia Pacific
o Latin America
▪ Brazil
▪ Mexico
▪ Rest of Latin America
o Middle East & Africa

Key Players in the Global Alopecia Market
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Mylan N.V. (US)
• Teva Pharmaceutical Industries Ltd. (Ireland)
• Sanofi (France)
• Pfizer Inc. (US)
• GlaxoSmithKline plc (UK)
• Novartis AG (Switzerland)
• Bayer AG (Germany)
• Eli Lilly and Company (US)
• Merck & Co., Inc. (US)
• Allergan (Ireland)
• AstraZeneca (UK)
• AbbVie Inc. (US)
• Johnson & Johnson Private Limited (US)
• Cipla Inc. (US)
• Abbott (US)

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This release was published on openPR.