Alopecia Market Overview
The global Alopecia Market is estimated to grow at a CAGR of 8.15% during the forecast period 2019–2025. The market is projected to grow from $2.63bn in 2018 to $4.54bn by 2025. Alopecia is medical condition that leads to hair loss and baldness eventually. Hair loss may happen in patches or whole from a small area to the entire body. Alopecia is caused due to autoimmune disorders such as thyroid, vitiligo and others. Asthma, allergies and others may also be another cause of alopecia. The report covers Alopecia Market size by type and applications, Alopecia Market share by top 5 companies and also the market share by start-ups during the forecast period.
- In the coming years, growing prevalence of the condition is set to drive the growth of the market.
- Product launches were the key sustainability strategy adopted by the market players to ensure the growth of Alopecia Market.
- APAC region is estimated to record the fastest growth rate during the forecast period.
Disease Type - Segment Analysis
In 2018, Alopecia areata segment dominated the Alopecia Market in terms of revenue. It is forecast to grow at a CAGR of 6.71% during the period under consideration. Alopecia areata is a case when hair loss occurs in circular patches. This happens as a result of body’s immune system attacking healthy its own hair follicles.
Treatment Type - Segment Analysis
In 2018, Topical agents segment dominated the Alopecia Market in terms of revenue. Topical agents are creams or lotions applied in the affected area. People prefer topical agents as they are a safer option and leads to less side effects and contains enhanced ingredients.
Gender - Segment Analysis
Alopecia was more prominent issue among men. Hence the Male segment dominated the Alopecia Market in 2018. Alopecia is also growing among females and is mainly attributed to Polycystic Ovary Syndrome (PCOS), a hormonal disorder resulting in enlarged ovaries and causes psychological distress to women.
Distribution Channel - Segment Analysis
Pharmacies segment dominated the Alopecia Market in 2018. This can be mainly attributed to the growth of OTC medicines available in the market. Hospitals/Clinics are fast growing segments and is expected to dominate the market in future.
Geography - Segment Analysis
In 2018, the North America region occupied 42% of the global Alopecia Market in terms of revenue. National Alopecia Areata recorded that in the U.S., approximately 6.8 million individuals had been diagnosed till 2017. APAC region is estimated to record the fastest growth rate during the forecast period.
Drivers – Alopecia Market
Growing patient awareness
Alopecia’s symptoms are usually very visible and is easy to identify. Individuals with the condition are seeking medical assistance as it affects their self-esteem and self-confidence. These psychological traits have forced people to become aware of the condition and find adequate cure.
Challenges – Alopecia Market
- No Full Cure for Alopecia
The individuals are made aware of the fact that there is no full cure for the condition and the only medication is for increasing the pace at which hair grows.
- People Giving Up on Medication
Lately, individuals with the condition are accepting and embracing the fact that their hair will never grow again and this portion of the population avoids the need of medications for alopecia.
Alopecia industry outlook
Product Launches along with mergers were the key strategies of the players in the alopecia Industry. Alopecia top 10 companies include Vita-Cos-Med Klett-Loch GmbH, Transitions Hair Pty Ltd, Sun Pharmaceutical Industries Ltd, Merck & Co.Inc, Lexington International LLC, Johnson and Johnson AG, Follica Inc, Cirrus Hair Centers, Cipla Inc, Capillus.
Alopecia Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Alopecia Market. The assessment includes the forecast, an overview of the competitive structure, the Alopecia Market share of the competitors, as well as the Alopecia Market size market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This Alopecia Market report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include disease type, treatment type, gender, distribution channels, and geographic analysis.