Alopecia Treatment Market to Surpass US$ 12,508.5 Million by 2028, Says Coherent Market Insights

·4 min read

SEATTLE, Jan. 19, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global alopecia treatment market is estimated to be valued at US$ 8,716.1 million in 2021 and is expected to exhibit a CAGR of 5.3% during the forecast period (2021-2028).

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Key Trends and Analysis of the Global Alopecia Treatment Market:

Key trends in the market include increasing number of underlying diseases leading to alopecia, increasing collaborations between market players, and increasing product launches or approvals.

Diseases such as vitiligo, protein deficiency, and secondary syphilis are some of the major factors responsible for hair loss, which is expected to augment growth of the alopecia treatment market in the near future. According to the study published in National Center for Biotechnology Information (NCBI), September 2017, an estimated 90% of Indian patients with androgenic alopecia had histidine deficiency. Moreover, according to the National Center for Biotechnology Information (NCBI), October 2017, estimated 0.5-1% of global population was diagnosed with vitiligo. Furthermore, according to the same source, around 8.8% of the Indian population and 0.38% in Denmark were also diagnosed with vitiligo.

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Key players are involved in inorganic growth strategies such as collaborations, which is expected to bolster growth of the global alopecia treatment market. For instance, in November 2019, Exicure, Inc., a pioneer in gene regulatory and immunotherapeutic drugs based on spherical nucleic acid (SNA) technology, announced a global collaboration agreement with Allergan's wholly-owned subsidiary, Allergan Pharmaceuticals International Limited. This agreement is for discovering and developing novel treatments for hair loss disorders based on Exicure's proprietary SNA technology.

The increasing product launches and approvals by market players is expected to drive growth of the global alopecia treatment market. For instance, in January 2018, HCell Inc., a biotechnology company based in Texas, U.S. announced that its drug, HC017AA, intended for the treatment for Alopecia Areata (Totalis) in pediatric patients, was awarded Orphan Drug Designation by the U.S. Food and Drug Administration (FDA).

Key Market Takeaways:

The increasing research and development activities, rising product launches and approvals, inorganic activities such as collaborations, agreements, acquisitions, and mergers are expected to drive growth of the global alopecia treatment market over the forecast period. For instance, in January 2019, Sun Pharmaceutical Industries Ltd., an India-based multinational pharmaceutical company acquired Pola Pharma Inc., a Japan-based pharmaceutical company focused on research and development of dermatology and hair products.

Key players operating in the global alopecia treatment market include Aclaris Therapeutics, Inc., Fagron, Follicum AB, Cipla Inc., Arcutis Biotherapeutics, Dr. Reddy's Laboratories Ltd., Himalaya Wellness Company, Eli Lilly and Company, Concert Pharmaceuticals Inc., and Teva Pharmaceutical Industries Ltd.

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Detailed Market Segmentation:

Global Alopecia Treatment Market, By Disease Type:

  • Alopecia Areata

  • Androgenic Alopecia

  • Traction Alopecia

  • Others

Global Alopecia Treatment Market, By Drug Class:

  • Corticosteroids

  • 5 AR Inhibitors

  • Vasodilators

  • Others

Global Alopecia Treatment Market, By Route of Administration:

  • Topical

  • Oral

  • Injectable

Global Alopecia Treatment Market, By Distribution Channel:

  • Hospital Pharmacies

  • Retail Pharmacies

  • Online Pharmacies

Global Alopecia Treatment Market, By Region:

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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SOURCE Coherent Market Insights