According to Coherent Market Insights, the global hair loss treatment market is estimated to be valued at US$ 3,592.3 million in 2020 and is expected to exhibit a CAGR of 6.2% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Hair Loss Treatment Market:
Key trends in the market include rising incidence of hair loss and ongoing research and development on hair loss treatments.
Market players are focusing on research and development of cost effective and quality treatment for alopecia areata. For instance, Pfizer Inc., a multinational pharmaceutical company, initiated an interventional clinical trial for alopecia areata. The study was initiated to evaluate the efficacy and safety profile of PF-06651600 and PF-06700841 in subjects with alopecia areata. The Phase II trail was initiated in November 2016 and completed in May 2019.
However, side effects of hair loss treatment is expected to hinder the market growth. For instance, according to the Mayo Foundation for Medical Education and Research (MFMER), the leading topical agent such as minoxidil used in the treatment of alopecia exhibit side effects such as acne at site of application, burning of scalp, facial hair growth, hair loss, inflammation or soreness at the root of the hair, and others.
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Key Market Takeaways:
The global hair loss treatment market is expected to exhibit a CAGR of 6.2% during the forecast period, owing to the rising incidence of alopecia or hair loss across the globe. For instance, according to the American Hair Loss Association, by the age of 21, around 25% of men suffer pattern baldness in the U.S.
Key players in the market are focusing on drug development for the treatment of androgenetic alopecia, which is expected to propel the market growth during the forecast period. For instance, in January 2013, Dr. Reddy’s launched finasteride tablets, the generic version of Merck‘s Propecia. Propecia is indicated for treatment of male pattern hair in men only.
Key players operating in the global hair loss treatment market include Viviscal, Cipla Limited, Aclaris Therapeutics, Inc., Merck & Co., Inc., Daiichi-Sankyo Co., Ltd., Johnson and Johnson Services, Inc., Lexington International LLC, Vita-Cos-Med Klett-Loch GmbH, PureTech, Vitabiotics, Dr. Reddy’s Laboratories, Ranbaxy Laboratories Ltd, HCell Inc., Follica, Inc., Aurobindo Pharma, and Zydus Pharmaceuticals, Inc. (Zydus Cadila) among others.
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Global Hair Loss Treatment Market, By Type:
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Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
Related Market Intelligence Reports:
Alopecia Treatment Market - Global Forecast to 2026, by Disease Type (Androgenic Alopecia, Alopecia Areata, and Others), by Drug Type (Topical Agents, 5 AR Inhibitors, Corticosteroids, and Others), by Gender (Male and Female), by Route of Administration (Oral, Topical, and Injectable), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast 2018 - 2026
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Coherent Market Insights
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