Alopecia Treatment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Alopecia Treatment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Alopecia Treatment Market By Disease Type (Alopecia Areata, Cicatricial Alopecia, Traction Alopecia, Alopecia Totalis, And Others), Treatment Type (Pharmaceuticals And Devices), End-User (Homecare Settings, Dermatology Clinics, And Others) And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of alopecia, and the rising research and development activities for alopecia treatment

The global alopecia treatment market was valued at USD 3.24 billion in 2023, growing at a CAGR of 3.88% during the forecast period from 2024 to 2030 to reach USD 4.21 billion by 2030. The demand for Alopecia Treatment is primarily being boosted owing to the increasing prevalence of alopecia globally due to a variety of factors, along with the rising research and development activities for alopecia treatment and management, during the forecast period from 2024 to 2030.

Alopecia Treatment Market Dynamics:

Alopecia patients typically have hair loss in the form of coin-sized, circular patches on their scalps, but in more extreme circumstances, they may experience complete hair loss. According to data by the National Alopecia Areata Foundation (2024), about 2% of people across the world are likely to experience alopecia areata at some point in their lifetime. The source further stated that nearly 160 million people worldwide have alopecia areata or have had, or will have it in the upcoming years.

The increase in alopecia areata cases may reflect a growing burden of disease or simply an increased proportion of patients seeking care. This rise in prevalence and incidence rates underscores the importance of monitoring and addressing the impact of alopecia areata on affected individuals and healthcare systems.

Thus, the rising rates of alopecia based hair loss is expected to substantially increase the diagnosis rates for alopecia, thus driving the demand for alopecia market in times to come.

Hence, due to an increase in the number of cases of alopecia worldwide, there will be an increase in the demand for alopecia drugs and devices, thus fueling the treatment market for Alopecia during the forecast period from 2024 to 2030.

However, side effects associated with alopecia drugs, and the lack of reimbursement policies for alopecia treatment may act as significant restraints that are expected to limit the growth of the Alopecia Treatment market during the forecast period.

Alopecia Treatment Market Segment Analysis:

Alopecia Treatment market by Disease Type (Alopecia Areata, Cicatricial Alopecia, Traction Alopecia, Alopecia Totalis, and Others), Treatment Type (Pharmaceuticals and Devices), End-User (Homecare Settings, Dermatology Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the treatment type segment of the Alopecia Treatment market, the pharmaceuticals category is estimated to amass a significant revenue share in the Alopecia Treatment market in 2023. This can be attributed to its rising applications, specificity of pharmaceuticals, their recent product launches, and approvals, among others in the alopecia treatment market.

Alopecia areata has no known cure, and there are no treatments licensed to treat it. However, some patients find that medications allowed for other uses can help hair grow back, if only briefly. For example, intralesional corticosteroids may help with limited patchy hair loss by stimulating hair regeneration at the injection location.

Two medicines, namely finasteride and minoxidil, are used in the treatment of male-pattern baldness. Minoxidil is currently the only medicine available to treat female-pattern baldness. Finasteride is available as oral tablets which are only used for men, which works by preventing the hormone testosterone from being converted to the hormone dihydrotestosterone (DHT). Minoxidil is available as topical preparations (e.g. topical solution/lotion, and foam) which may be used for men and women, and is applied directly to the scalp.

Moreover, in June 2022, Eli Lilly and Company and Incyte announced the U.S. Food and Drug Administration (FDA) approval for its OLUMIANT® (baricitinib), a once-daily pill, as a first-in-disease systemic treatment for adults with severe alopecia areata (AA).

Therefore, due to the various applications of pharmaceutical drugs in the treatment of alopecia, there will be an increase in the demand for alopecia treatment through pharmeceuticals, which in turn would drive the overall Alopecia market growth during the given forecast period.

North America Is Expected To Dominate The Overall Alopecia Treatment Market:

North America is expected to account for the highest proportion of the Alopecia Treatment Market in 2023, out of all regions. This is due to the rising prevalence of alopecia, the increase in research-related activities for alopecia in the US, and drug approvals, among others in the region acting as key factors driving the growth of the Alopecia Treatment market in North America.

As per data by the National Alopecia Areata Foundation (2024), nearly 6.7 million people in the U.S. are expected to get affected by alopecia areata in the upcoming years. The source further stated that about 700,000 people in the U.S. currently have some form of alopecia areata. Several U.S. based studies also found the odds of developing alopecia areata were higher among Asian, Black, and Hispanic individuals than among whites.

As per a recent research study, the prevalence of AA ranged from 0.199% to 0.222% from 2016 to 2019, indicating the proportion of individuals affected by alopecia areata in the US. The annual incidence of AA varied between 91.46 to 92.90 cases per 100,000 patient-years from 2016 to 2019, reflecting the rate of new cases diagnosed each year.

The study also highlighted valuable insights about the burden of alopecia areata among the US population, stating the urgent need for monitoring, awareness, and potential therapeutic interventions to address the condition effectively.

In addition, in June 2023, Pfizer Inc. announced that the U.S. Food and Drug Administration (FDA) approved LITFULO™ (ritlecitinib), a once-daily oral treatment, for individuals 12 years of age and older with severe alopecia areata.

Thus, the interplay of all the aforementioned factors is likely to fuel the market growth for Alopecia treatment in the North America region during the given forecast period from 2024 to 2030.

Alopecia Treatment Market Key Players:

Some of the key market players operating in the Alopecia Treatment market include Pfizer, GlaxoSmithKline plc, Sun Pharmaceuticals Industries Ltd, Dr. Reddy’s Laboratories Ltd, Freedom Laser Therapy, Apira Science Inc., Lutronic, Theradome, Revian Inc., Lexington Intl., LLC, and others.

Recent Developmental Activities In The Alopecia Treatment Market:

In February 2024, Pelage Pharmaceuticals announced it secured financing to begin phase 2 trials of PP405, its novel topical agent for androgenetic alopecia and other forms of hair loss. PP405 is a non-invasive, topical small molecule designed to inhibit the mitochondrial pyruvate carrier (MPC) to reactivate dormant hair follicle stem cells and restart hair growth.

In October 2023, Sun Pharmaceutical Industries announced that the United States Food and Drug Administration (FDA) accepted the New Drug Application (NDA) for deucruxitinib, an oral selective inhibitor of Janus kinases JAK1 and JAK2. The NDA sought approval for treating adults with moderate to severe alopecia areata.

Key Takeaways From The Alopecia Treatment Market Report Study

Market size analysis for current Alopecia Treatment Market size (2023), and market forecast for 6 years (2024 to 2030)

Top key service offerings, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global Alopecia Treatment market.

Various opportunities available for the other competitors in the Alopecia Treatment Market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current Alopecia Treatment market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Alopecia Treatment market growth in the coming future?

Target Audience Who Can Be Benefited From This Alopecia Treatment Market Report Study

Alopecia Treatment service providers

Public and Private Corporate companies

Alopecia Treatment related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Service Providers dealing in Alopecia Treatment

Various corporates who want to know more about the Alopecia Treatment Market and the latest service offerings in the Alopecia Treatment Market.

Frequently Asked Questions For The Alopecia Treatment Market:

1. What is Alopecia?

Alopecia areata is a polygenic disease, meaning it is related to multiple genetic factors. The word alopecia means bald; areata means patchy. The disease causes hair loss on the scalp, face, and sometimes other body areas, like under the arms or on the legs. People with alopecia areata most often lose hair in circular, coin-sized patches on the scalp, but in more severe cases, they may lose all of their hair.

2. What is the market for Alopecia Treatment?

The global alopecia treatment market was valued at USD 3.24 billion in 2023, growing at a CAGR of 3.88% during the forecast period from 2024 to 2030 to reach USD 4.21 billion by 2030.

3. What are the drivers for the Global Alopecia Treatment market?

The Alopecia Treatment Market is slated to witness prosperity owing to the increasing prevalence of alopecia globally due to a variety of factors, along with the rising research and development activities for alopecia treatment and management, during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global Alopecia Treatment market?

Some of the key market players operating in the Alopecia Treatment market include Pfizer, GlaxoSmithKline plc, Sun Pharmaceuticals Industries Ltd, Dr. Reddy’s Laboratories Ltd, Freedom Laser Therapy, Apira Science Inc., Lutronic, Theradome, Revian Inc., Lexington Intl., LLC, and others.

5. Which region has the highest share in the Global Alopecia Treatment market?

North America is expected to dominate the overall Alopecia Treatment market during the forecast period from 2024 to 2030. This is due to the rising prevalence of alopecia, the increase in research-related activities for alopecia in the US, and drug approvals, among others in the region acting as key factors driving the growth of the Alopecia Treatment market in North America.