Press release
Alopecia Market To Be Driven By The Rising Prevalence Of Hair Loss In The Forecast Period Of 2021-2026
Alopecia Market
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): 2.8 billion USD
• Forecast CAGR (2021-2026): 8.6%
Some of the main reasons driving the market include the rising incidence of hair loss, technical improvements in alopecia therapy, and the rise in frequency of chronic illnesses linked to hair loss.
An increase in healthcare spending is being driven by an increase in the number of efforts being conducted by organisations such as the National Alopecia Areata Foundation and the American Hair Loss Association to raise awareness about hair regeneration and treatment alternatives.
The Affordable Care Act of 2010 allows consumers to get health insurance at low cost, therefore benefiting patients who are financially disadvantaged. This leads to an overall rise in treatment rates, which is projected to drive market growth over the forecast period.
Industry Definition and Major Segments
Alopecia areata, commonly known as spot baldness, is a disorder in which some or all the body's hair is removed. It usually causes a few little bald patches on the scalp, each approximately the size of a penny. Psychological stress may be a result of the illness.
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The industry can be broken down based on disease type into:
• Alopecia Areata
• Cicatricial Alopecia
• Traction Alopecia
• Alopecia Totalis
• Alopecia Universalis
• Androgenetic Alopecia
• Others
Based on treatment, the market is bifurcated into:
• Pharmaceuticals
• Devices
The market can be categorised by gender into:
• Male
• Female
Based on sales channel, the industry is classified into:
• Prescriptions
• OTC
By end use, the market can be divided into:
• Homecare Settings
• Dermatology Clinics
Regionally, the industry is segmented into:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
Market Trends
Recently, some key industrial developments have showcased the potential to drive the growth of the market over the forecast period. For example, the United States Food and Drug Administration granted Incyte Corporation and Eli Lilly and Company the Breakthrough Therapy Designation for baricitinib for the treatment of AA in March 2020. The Breakthrough Therapy Designation will assist in obtaining clearance more quickly.
Key Market Players
The major players in the market are Cipla Inc., Sun Pharmaceutical Industries Ltd., Johnson & Johnson Services Inc., Merck & Co. Inc., Lexington Intl. LLC, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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