- Rising occurrences of alopecia and increasing incidence of chronic diseases are among the significant factors influencing the market growth
- Market Size – USD 2,650.8 Million in 2019, Market Growth - CAGR of 8.9%, Market Trends –Growing awareness about the disease in developed nations
VANCOUVER, BC, Oct. 13, 2020 /PRNewswire/ -- The Global Alopecia Market is projected to be worth USD 5,250.8 Million by 2027, according to a current analysis by Emergen Research. The alopecia market is projected to experience rapid growth by the year 2027. The rising occurrence of alopecia is a significant factor driving the growth of the market. For instance, alopecia areata, a chronic, autoimmune disorder that affects growing hair follicles resulting in nonscarring focal hair loss, has global prevalence. The disease's likely occurrence is about 0.001% of the population and has a lifetime risk of around 2.0%. It may occur in people of all ages, including children and adults, and at more or less the same rate in the male and female population.
Growing trends in hair fashion put a lot of unwanted stress on the hair follicles, leading to traumatic alopecia, in turn, driving the market growth. This type of alopecia is caused by hairdressing practices such as cornrowing or tight braiding leading to hair pull, hair damage with strong chemicals comprising hair coloring, bleaching, straightening, and permanent waves, or application of extreme heat, for instance, with a hot roller.
Additionally, various chronic disorders and genetic diseases may be causative of hair loss/alopecia in people. Male pattern baldness, a hereditary cause of hair loss, may be triggered at any point in a man's life, including adolescence. Moreover, some individuals suffer from trichotillomania (a rare psychiatric condition) in which compulsive twisting and pulling of hair can lead to bald spots.
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Key Highlights From The Report
- In January 2020, Revian announced that it had received a patent by the U.S. Patent & Trademark Office (USPTO) for the application of proprietary color light combinations for regenerating living body tissues, such as hair.
- Androgenetic alopecia is likely to grow at the fastest rate in the period 2020-2027. It is a commonly occurring hair loss in the global population. In the case of men, it is also referred to as male-pattern baldness.
- Alopecia totalis causes total hair loss on the scalp and is considered an advanced form of alopecia areata responsible for round hair loss patches.
- PCO (Polycystic Ovary Syndrome) is responsible for androgenic alopecia in females worldwide, with an anticipated 20.0% of females witnessing the condition before menopause and around 40.0% post-menopause.
- The OTC (over-the-counter) availability of alopecia treatment drugs is fueled by the increasing attempts to provide easy therapeutic accessibility and the necessity for affordable treatment.
- The market in the Asia Pacific region is projected to grow at the fastest rate of 10.0% in the forecast period due to the increasing incidence of chronic disorders, growing awareness among the population, especially in the younger generation, and a rise in the level of disposable income.
- Key participants include Johnson & Johnson Services Inc., Cirrus Hair Centers, Cipla Inc., Follica Inc., Merck & Co. Inc., Sun Pharmaceutical Industries Ltd., Concert Pharmaceuticals Inc., GlaxoSmithKline PLC, Aclaris Therapeutics Inc., and HCell Inc., among others.
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Emergen Research has segmented the global alopecia market on the basis of type, application, end-users, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Alopecia Areata
- Androgenetic Alopecia
- Alopecia Totalis
- Traction Alopecia
- Cicatricle Alopecia
Application Outlook (Revenue, USD Billion; 2017-2027)
End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Dermatology Clinics
- Homecare Settings
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- OTC (Over-the-Counter)
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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