High Level of Stress and Hormonal Imbalance Expected to Drive Global Alopecia Treatment Market: Ken Research
Alopecia is also known as hair loss or baldness, which refers to hair loss from the part of head or body. This condition can happen in both male and female at any age. There are five major kind of alopecia to be specific for instance androgenic alopecia, cicatricial alopecia, alopecia totalis, alopecia areata, and telogen effluvium. The cause of female-pattern alopecia and male-pattern alopecia include hereditary condition, hormonal changes, radiation therapy to the head, stress, and certain medications & supplements. Alopecia treatment plays a key role in advanced healthcare that helps in prevention of hair fall and regrowth of hair. Treatment for hair loss can be carried out using drugs such as corticosteroids, finasteride, minoxidil, 5-alpha-reductase inhibitors, and cyclosporine. Moreover, surgical treatments for alopecia include scalp reduction, hair transplantation, and laser therapy.
According to study, “Alopecia Treatment Market by Drug Type (Minoxidil, Finasteride, and Other Drug Types), Indication (Androgenic Alopecia, Alopecia Areata, Alopecia Totalis, and Others), and Distribution Channel (Hospitals Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the global alopecia treatment market are Capillus, LLC, Daiichi Sankyo Company, Limited, Cipla Inc., GlaxoSmithKline Plc., Merck & Co., Inc., Johnson & Johnson, Sun Pharmaceutical Industries Ltd., Vitabiotics Ltd., Transitions Hair, and Vita-Cos-Med Klett-Loch GmbH.
Based on product type, alopecia treatment market is segmented into vitamins & supplements, shampoos & conditioners, and other (gels, oils, and serums). Based on drug type, market is segmented into finasteride, minoxidil, and other drug types. Based on indication, market is segmented into androgenic alopecia, alopecia totalis, alopecia areata, and others. In addition, based on distribution channel, market is segmented into drug stores & retail pharmacies, hospitals pharmacies, and online pharmacies.
The alopecia treatment market is driven by increase in prevalence of chemotherapy, followed by surge in geriatric population, change in food habits, increase in consumption of alcohol & tobacco, high level of stress & hormonal imbalance, and rise in prevalence of alopecia conditions such as androgenic alopecia, alopecia totalis, alopecia areata and others induced alopecia. However, probable side effects, reactions, allergies caused by alopecia treatments and high cost of medications may impact the market. Moreover, rise in development of novel therapeutic drugs and growth in technological advancements are key opportunities for market.
Based on geography, the North-American region dominates the global alopecia treatment market owing to higher adoption of alopecia treatment products, well developed healthcare infrastructure, large presence of pharmaceutical companies, and wide availability of advanced alopecia treatment products in the region. Whereas, the Asian-Pacific and European regions are expected to exhibit substantial growth rate due to rise in number of hospitals equipped with advanced medical facilities, improvement in healthcare infrastructure over the forecast period. In upcoming years, it is likely that future of the market will be optimistic as a result of increase in development of research & development (R&D) sectors as well as rise in healthcare reforms during the forecast period. The global alopecia treatment market was valued at US $2,736 million in 2018, and is estimated to reach US $3,935 million by 2026, registering a CAGR of 4.6% from 2019-2026.
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Ankur Gupta, Head Marketing & Communications