Alopecia Treatment Market Opportunities, Business Forecast To 2029

The global alopecia treatment market size was valued at USD 8.6 Billion in 2022 and is poised to grow at a CAGR of 11.2% during the forecast period 2023 to 2029. The primary factors that drive the market are the growing prevalence of autoimmune disorders across the world, rising hair fall issues in both male and female adults and increasing demand for alopecia treatment medications in the market.

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Corticosteroids to Dominate the Alopecia Treatment Market:
Based on drug class, corticosteroids hold the highest market share. The major factor for the rise of this segment is the use of corticosteroids injection to prevent hair loss due to their anti-inflammatory action, especially it is used for alopecia areata. The autoimmune disorder is caused due to unhealthy diet and improper lifestyle, 60% of the population suffers from thin hair, with pattern hair loss in both males and females which demands effective treatment options to prevent alopecia. In addition, increasing spending on healthcare infrastructure accelerates the development of treatment options and raises awareness about hair regrowth and treatment alternatives. The genetic factor is directly involved in hair fall, the person suffers from type 1 diabetes, and hypertension is linked with the patient or family. Hence, this will drive the global market growth at a significant rate.

Asia Pacific Alopecia Treatment Market:
Asia Pacific region is expected to grow significantly in the global Alopecia Treatment Market size over the forecast period. It is attributed to the increasing number of genetic disorders and easy availability of over-the-counter (OTC) drugs, along with the presence of local key players providing herbal and synthetic medications for hair fall treatment, development of well-developed healthcare infrastructure accelerates the market growth in the region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the Key Strategies Adopted by Market Players:
The global Alopecia Treatment Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share., In June 2022, FDA Approves Eli Lilly and Incyte's OLUMIANT® (baricitinib) As the First and Only Systemic Medicine for Adults with Severe Alopecia Areata treatment., In August 2021, - Pfizer Inc. announced positive top-line results from the Phase 2b/3 ALLEGRO trial evaluating oral once-daily ritlecitinib in patients with alopecia areata. Ritlecitinib 50 mg and 30 mg achieved the primary efficacy endpoint of the study, namely the proportion of patients with less than or equal to 20 percent scalp hair loss after six months of treatment versus placebo.

The Alopecia Treatment Market is segmented based on disease treatment, drug class, distribution channel, and region.
Based on the disease treatment technique, the market is segmented into the following:
• Alopecia Areata
• Androgenic Alopecia
• Traction Alopecia
• Others

Based on the drug class, the market is segmented into the following:
• Corticosteroids
• 5AR Inhibitors
• Vasodilators
• Others

Based on the end user, the market is segmented into the following:
• Retail Pharmacy
• Hospital Pharmacy
• Online Pharmacy

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the alopecia treatment market report are Johnson & Johnson Services, Inc., Merck & Co. Inc., Cipla Limited, Sun Pharmaceuticals Industries Ltd., Dr. Reddy's Laboratories Ltd., GlaxoSmithKline plc., Aurobindo Pharma, and Mylan N.V. (Viatris Inc.) Ltd.

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