Global Alopecia Treatment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global alopecia treatment market size reached US$ 3.1 Billion in 2022. Looking forward, the market is expected to reach US$ 4.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.77% during 2022-2028. The increasing prevalence of alopecia, growing awareness about hair loss conditions and treatments, advancements in medical technologies and therapeutics, and the implementation of supportive government policies are some of the major factors propelling the market.

Alopecia treatment refers to various methodologies used to manage and combat Alopecia, a condition characterized by significant hair loss. The types of alopecia include androgenetic alopecia, alopecia areata, and cicatricial alopecia. Alopecia treatment consists of topical treatments, oral medications, hair transplant surgery, light therapy, and platelet-rich plasma therapy. It aids in slowing down hair loss progression, promoting hair regrowth, maintaining healthy hair, improving physical appearance, and enhancing self-confidence.

The rising prevalence of alopecia, including androgenetic alopecia and alopecia areata, is one of the key factors driving the demand for effective treatments. In addition, the rising medical tourism to countries offering cost-effective hair transplant procedures is fueling the market growth. Furthermore, rapid urbanization, coupled with the increasing disposable income, which allows individuals to afford high-quality treatment plans is contributing to the market growth. Apart from this, the aggressive marketing and promotional strategies by pharmaceutical companies through social media and influencer marketing to enhance consumer awareness about new products and treatments is favoring the market growth. Moreover, the emergence of telemedicine, which enables easier access to medical consultations and prescriptions is strengthening the market growth. Other factors, including the growing demand for personalized medicine, extensive research and development (R&D) activities, and the rising influence of fashion and entertainment industries, are anticipated to drive the market growth.

Alopecia Treatment Market Trends/Drivers

The increasing prevalence of alopecia

Alopecia, encompassing a spectrum of hair loss conditions, is increasingly prevalent across the globe. Its triggers, include genetic predispositions, hormonal imbalances, stress, and lifestyle factors, such as poor nutrition, smoking, exposure to chemicals, and sedentary lifestyle. These triggers are rising especially in ageing populations and individuals working in highly stressful environments. In line with this, stress-induced Alopecia has witnessed a noticeable upswing due to the rapid pace and pressures of modern living. Along with this, conditions such as androgenetic alopecia, which has a strong genetic link, are becoming more common as populations grow and genetic traits are passed on. Moreover, the increasing prevalence of chronic diseases, such as polycystic ovary syndrome (PCOS) and thyroid disorders, which can lead to hair loss, is also contributing to the rising number of Alopecia cases.

The growing awareness about hair loss conditions and Treatments

The growing consumer awareness regarding hair loss conditions owing to an explosion of information available online and through concerted awareness campaigns is one of key factors propelling the market growth. Various health platforms, social media, and influencer communities are actively discussing hair loss, its implications, and possible remedies, making the topic less taboo and more understood among the masses. This heightened awareness has triggered a shift in attitudes, leading to a higher propensity to seek professional help and advice. The destigmatization of hair loss, coupled with the understanding that Alopecia is a treatable condition, has substantially increased the demand for treatments. Moreover, informed consumers are more likely to persist with the treatment regime for an extended period, which is acting as another growth-inducing factor.

Advancements in medical technologies and therapeutics

The field of trichology, the study of hair and scalp, has witnessed significant technological advancements in recent years. The introduction of enhanced diagnostic tools, which allows more precise identification of the Alopecia type and, therefore, more targeted treatments is boosting the market growth. Additionally, the adoption of novel treatment options, including low-level light therapy and platelet-rich plasma therapy, has broadened the treatment spectrum and improved patient outcomes. Furthermore, the recent development of innovative drugs for topical application and oral ingestion, which has improved the efficacy of Alopecia treatment is contributing to the market growth. These advancements have enriched the array of treatment options available to consumers and boosted their confidence in the effectiveness of these treatments. As a result, more individuals are investing in Alopecia treatment and therapies, thus propelling the market growth.

Alopecia Treatment Industry Segmentation

This research provides an analysis of the key trends in each segment of the global alopecia treatment market report, along with forecasts at the global, regional and country levels from 2023-2028. The report has categorized the market based on drug type, indication, gender, route of administration and distribution channel.

Breakup by Drug Type:

• Minoxidil
• Finasteride
• Minoxidil dominates the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes minoxidil, finasteride, and others. According to the report, minoxidil represented the largest market segment.

Minoxidil is dominating the market because its effectiveness and safety have been well-documented in numerous clinical studies, making it a trusted option for both physicians and patients. It is also one of the few treatments approved by various regulatory bodies across the globe for treating male and female pattern baldness. Furthermore, it is typically applied topically and can be incorporated into daily routines without much hassle. The non-invasive nature of the application, compared to surgical treatments, appeals to many patients. Moreover, Minoxidil is available in different forms, such as foams, lotions, and shampoos, offering a range of options to fit individual preferences. Apart from this, it can be obtained over the counter (OTC) without a prescription, which makes it more accessible to patients.

Breakup by Indication:

• Androgenic Alopecia
• Alopecia Areata
• Alopecia Totalis
• Androgenic alopecia dominates the market

The report has provided a detailed breakup and analysis of the market based on the indication. This includes androgenic alopecia, alopecia areata, alopecia totalis, and others. According to the report, androgenic alopecia represented the largest market segment.

Androgenic alopecia is dominating the alopecia treatment market due to its high prevalence. It is the most common type of hair loss, affecting a significant percentage of the population, especially with increasing age. In addition, societal and personal perceptions of hair loss as a negative or undesirable condition drive demand for treatment. Hair is often associated with attractiveness, youth, and health, so hair loss can lead to lower self-esteem and confidence, prompting individuals to seek treatment. Moreover, androgenic alopecia has a strong genetic component and tends to be progressive if not treated, making it a target for long-term, sustained treatment approaches. This offers a steady demand for treatment products and therapies. Apart from this, the significant advancements in the treatment options for androgenic alopecia, including both pharmaceutical and surgical interventions, are acting as another growth-inducing factor.

Breakup by Gender:

• Male
• Female
• Female dominates the market

The report has provided a detailed breakup and analysis of the market based on gender. This includes male and female. According to the report, female represented the largest market segment.

Female patients are dominating the market due to societal pressures and beauty standards, making them more likely to seek treatment. In addition, hair is often seen as a significant part of a woman's identity and appearance, and hair loss can have a profound psychological impact, leading to lower self-esteem and confidence. Furthermore, there are more treatment options available for female-pattern hair loss compared to male-pattern baldness. These include hormone therapy, topical treatments, and hair transplantation, giving women more opportunities to find a treatment that works for them. Additionally, hair loss in women can be caused by a wider range of factors than in men, including hormonal changes, stress, diet, certain medical conditions, and medications, leading to a larger proportion of women experiencing hair loss.

Breakup by Route of Administration:

• Oral
• Topical
• Injectable
• Topical dominates the market

The report has provided a detailed breakup and analysis of the market based on the route of administration. This includes oral, topical, and injectable. According to the report, topical represented the largest market segment.

The topical route of administration is dominating the market as it is used as the first line of defense against hair loss. In addition, topical treatments are non-invasive and generally well-tolerated by patients. They can be easily applied to the affected area, allowing for targeted treatment. This localized application reduces the risk of systemic side effects, making it a safer option for many patients. Moreover, they are more affordable and accessible than other treatment options, such as hair transplants and laser treatments. Additionally, they are readily obtained over the counter (OTC) or through prescriptions, making them more convenient for patients. Apart from this, the use of topical treatments fits well into daily routines as patients can apply these medications at home, eliminating the need for regular visits to the doctor's office or clinic. This aspect of convenience greatly increases patient compliance, contributing to the efficacy of the treatment.

Breakup by Distribution Channel:

• Hospitals
• Retail Pharmacies
• Online Pharmacies
• Hospitals dominate the market

The report has provided a detailed breakup and analysis of the market based on distribution channel. This includes hospitals, retail pharmacies, and online pharmacies. According to the report, hospitals represented the largest market segment.

Hospitals are dominating the alopecia treatment market due to the wide range of treatment options they provide, including both surgical and non-surgical solutions for hair loss. In addition, they are equipped with the latest medical equipment and technologies, allowing them to provide advanced treatments such as hair transplantation surgeries, laser therapies, and steroid injections. Furthermore, hospitals employ experienced staff and specialized doctors, including dermatologists and trichologists, who are skilled in diagnosing and treating different types of alopecia. These professionals are able to guide patients toward effective treatment options based on their individual conditions. Additionally, they have in-house pharmacies, making it more convenient for patients to access prescribed medications, which improves adherence to treatment regimens, leading to better outcomes.

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• North America exhibits a clear dominance in the market, accounting for the largest alopecia treatment market share

The report has also provided a comprehensive analysis of all the major regional markets, which includes North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represented the largest market segment.

North America is dominating the market due to a high prevalence of alopecia areata and androgenetic alopecia, which has increased the need for effective treatments. Additionally, the escalating awareness about the condition and available treatments owing to extensive educational campaigns by health authorities and companies is contributing to the market growth. Furthermore, the robust healthcare infrastructure and rising expenditure capacities in the region make it easier for patients to access high-quality treatment. In addition, the widespread availability of insurance coverage for these treatments plays a critical role in making them more affordable for a larger segment of the population. Apart from this, the presence of major pharmaceutical and biotech companies in the region that are actively engaged in the research and development of new treatments is boosting the market growth.

Competitive Landscape

The key players in the market are actively investing in research and development (R&D) initiatives to discover innovative, effective treatments for alopecia. This includes the development of new drugs, novel application techniques, and treatments that tackle alopecia from different angles, such as targeting hormone levels, reducing inflammation, or stimulating hair follicles. Furthermore, leading companies are engaged in strategic partnerships and collaborations with biotech companies, research institutions, and universities to accelerate the pace of discovery and to pool resources and expertise. Additionally, the top companies are focusing on raising consumer awareness about the availability and effectiveness of various alopecia treatments through traditional and digital marketing channels. Moreover, key market players are conducting rigorous clinical trials to ensure their products meet stringent medical standards and regulatory requirements.

The report has provided a comprehensive analysis of the competitive landscape in the global alopecia treatment market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Aclaris Therapeutics Inc.
• Cellmid Limited
• Cipla Limited
• Dr. Reddy’s Laboratories Ltd.
• GlaxoSmithKline plc
• HCell Inc.
• Johnson & Johnson
• Merck & Co. Inc.
• Pfizer Inc.
• Taisho Pharmaceutical Holdings Co. Ltd
• Teva Pharmaceutical Industries Ltd.

Recent Developments

In Aug 2022, Aclaris Therapeutics Inc. announced a non-exclusive patent license agreement with Eli Lilly and Company to use Lilly’s JAK inhibitor to treat alopecia areata (AA).

In September 2021, Dr. Reddy’s Laboratories Ltd. launched a new drug to treat female pattern hair loss (FPHL)
In June 2023, FDA approved Pfizer’s new oral treatment called Litfulo for treating alopecia in teens.

Key Questions Answered in This Report

1. What was the size of the global alopecia treatment market in 2022?
2. What is the expected growth rate of the global alopecia treatment market during 2023-2028?
3. What are the key factors driving the global alopecia treatment market?
4. What has been the impact of COVID-19 on the global alopecia treatment market?
5. What is the breakup of the global alopecia treatment market based on the drug type?
6. What is the breakup of the global alopecia treatment market based on the indication?
7. What is the breakup of the global alopecia treatment market based on gender?
8. What is the breakup of the global alopecia treatment market based on the route of administration?
9. What is the breakup of the global alopecia treatment market based on the distribution channel?
10. What are the key regions in the global alopecia treatment market?
11. Who are the key players/companies in the global alopecia treatment market?