Alopecia Treatment Market: Current Analysis and Forecast (2021-2027)

Alopecia Treatment Market: Current Analysis and Forecast (2021-2027)

Alopecia Treatment Market is anticipated display a CAGR of around 6% over the forecast period (2021-2027). The global Alopecia Treatment market is expected to witness robust growth mainly due to the aging and hormonal imbalance coupled with increasing chronic diseases like arthritis, cancer, hypertension, depression that also leads to hair loss, especially among the middle-aged population. Alopecia is an autoimmune disease that targets hair follicles in the Anagen phase and causes non-scarring alopecia. Many therapies are available for the treatment of Alopecia Areata, including topical, systemic, and injectable modalities. In addition, rise in research and development expenditure by key market players and their focus on the launch and approval of new drugs, is further expected to propel the market growth.

The ongoing COVID-19 pandemic across the world have had a tremendous impact on different spectra of society, the market for Alopecia Treatment no less. The market for Alopecia Treatment faced a negative impact due to movement restrictions, which have forced people to stay home, and, thus, there has been a huge decline in the hospital and clinics visits. Due to this, there has been a negative impact on the product sales and supply chains of numerous sectors, particularly during the first two quarters of the year 2020. This has adversely affected the trade of Alopecia Treatment products due to the reduced demand and widespread financial distress.

Insights Presented in the Report

“Amongst Disease Type, Androgenic Alopecia segment dominated the market in 2020”

Based on disease type, the Alopecia Treatment Market is segmented into Alopecia Areata, Androgenic Alopecia, and others. In 2020, Androgenic Alopecia category dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to the rising geriatric population coupled with unhealthy lifestyle and hormonal imbalance across the globe. Androgenetic alopecia is a common form of hair loss in both men and women. Androgenetic alopecia in men has been associated with several other medical conditions including coronary heart disease disorders of insulin resistance (such as diabetes and obesity), and high blood pressure (hypertension).

“Amongst Distribution Channel, Online Pharmacies category to witness fastest growth rate”

Based on distribution channel, the market is bifurcated into hospitals and clinics, drug store and retail pharmacies, and online pharmacies. Among these, online pharmacies category is expected to witness robust growth during the forecast period. The internet’s supply of pharmaceuticals has developed in numerous ways and according to different models in each part of the world. Moreover, growing internet penetration in developing countries of the world and entry of various tech start-ups in the sector is further fueling growth in the market. For instance, in India, Along with increasing customer adoption, there has been a secular rise in investor interest in online pharmacies, with the sector garnering US$ 700 million in investments in 2020 alone. Pharmeasy, Medlife, 1mg and Netmeds are some of the leading players in the Indian online pharmacy market.

“North America will Dominate the Market During the Forecast Period”

For a better understanding of the demand of Alopecia Treatment, the market is analyzed for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. Currently, North America dominates the market; however, Asia-Pacific is expected to witness highest CAGR growth owing to rising healthcare expenditure in countries such as China, India, and other developing Asian countries. Some of the major players operating in the market include Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Johnson & Johnson Inc., Cipla Inc., Cassiopea S.p.A., Fagron, Follicum AB, Arcutis Biotherapeutics, and Concert Pharmaceuticals Inc.

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