Alopecia Market - What is the Growth Forecast for Next Five Years?

Alopecia refers to a condition of excessive hair loss and hair damage resulting from several dietary issues, medical conditions, and lifestyle choices. While the treatment-seeking rate for alopecia is much greater in developed regions compared to developing economies, the market for alopecia drugs and therapeutics is gaining prominence in countries such as India and China owing to the surge in healthcare expenditure and rising cases of hormone-driven hair loss.

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The research report offers readers a snapshot of the global alopecia market and reviews the therapeutic as well as competitive landscape of the market. The pipeline therapeutics for alopecia by universities, companies, and research institutes has been thoroughly evaluated with the help of the latest market intelligence tools and the data derived from verified industry-specific sources.
The multibillion-dollar alopecia market has been driven by a number of micro and macro factors and trends. One of the leading causes of alopecia among men and women is changing lifestyles resulting in the increased consumption of tobacco, alcohol, and other addictive products. Growing levels of stress and a rapidly increasing geriatric population base has also contributed toward the surge in alopecia cases.

Apart from this, the market for alopecia is fueled by the rising prevalence of various chronic diseases such as depression, diabetes mellitus, cancer, arthritis, polycystic ovary syndrome, and hypertension. The rising celebrity culture, growing emphasis on aesthetic appearance, and increasing disposable incomes have had a significant impact on the global alopecia market. Furthermore, an increase in research and development efforts, technological advancements in the field, and the development of novel therapeutic options are likely to propel the market for alopecia in the coming years. On the other hand, severe side effects such as decreased libido, high blood pressure, erectile dysfunction, and increase in heart rate resulting from the usage of alopecia drugs limits the growth of the global alopecia market.

The global market for alopecia has been geographically divided into Asia Pacific, North America, Europe, and Rest of the World. Among these, North America enjoys the largest share in the overall alopecia market and is also presently the most significant revenue generator. The primary factors driving the North America alopecia market are the increased prevalence of hair loss and the equally high treatment rates for the same. This market is also propelled by the high disposable income of consumers in the region, the presence of technologically advanced healthcare infrastructure, and the availability of innovative therapeutic options for the treatment of alopecia.

One of the most lucrative markets for alopecia is Asia Pacific and research analysts have predicted that the market in this region will witness considerable growth in the coming decade. A growing population suffering from alopecia, coupled with the rising awareness about the condition and available treatment options, is greatly responsible for the future growth of the alopecia market in Asia Pacific. Other factors contributing to the expansion in this regional market include rapid economic development, recent technological trends and innovations, constantly rising disposable incomes, improvement in healthcare facilities, and surging healthcare expenditures.

Vendor Landscape Assessment

Some of the leading players competing in the global alopecia market are Merck & Co., Lifes2good, Dr. Reddy’s Laboratories, Alpecin, Cipla, Vitabiotics, Johnson & Johnson, Phyto Ales Group, Kirkland Signature, and Sun Pharma. An increasing number of companies have been adopting various strategies to survive in an immensely competitive environment as well as expand their businesses in the global alopecia market. Some of these competitive strategies include clinical trials, surge in research and development efforts, and collaborations with medical, educational, and research institutes.

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