Alopecia Industry Overview
The global alopecia market size is expected to reach USD 14.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.1% from 2021 to 2028. The strong presence of pipeline products and increasing approval for laser-based therapy to treat hair loss conditions are major factors anticipated to drive growth. Moreover, rising awareness among patients about alopecia and its treatments, increasing government initiatives, supportive regulations & laws, and improvements in healthcare infrastructure are factors expected to propel market growth over the forecast period.
Technological advancements in alopecia treatment are among the key drivers of this market. There are two FDA-approved therapeutics for alopecia-Rogaine and Propecia. There has been an increase in market penetration of generics after patent expiries of both drugs. However, the launch of several promising pipeline candidates over the forecast years such as Xeljanz (tofacitinib), Breezula (clascoterone), Jakafi (ruxolitinib), SM04554, and Lumigan (Bimatoprost) is expected to substantially drive the growth of the market in the near future.
The introduction of low-level laser therapy that helps stimulate hair growth is expected to increase the treatment rate among patients facing hair loss. In addition, the launch of laser caps, helmets, combs, and bands is also anticipated to boost the market growth. For instance, Capillus Laser Cap, iGrow Laser Helmet, iRestore Hair Growth System, and Hairmax Laser devices are some of the technologically advanced products available in the market.
Moreover, the increasing prevalence of diseases such as cancer, Polycystic Ovary Syndrome, and rheumatoid arthritis which are associated with hair loss is also expected to boost the treatment rate of hair loss in the near future. For instance, as per the U.S. Department of Health and Human Services, nearly 5 million women in the U.S. are affected by PCOS. Furthermore, according to the GBD database, the prevalence of PCOS in European countries, such as France, increased from 872,351 to 882,322 in 2018 & 2019, respectively, and in the U.K., the prevalence was found to be 1,134,082 to 1,142,498.
Market players are increasingly forming partnerships and licensing agreements to enhance their product capabilities and promote the outreach of their products. For instance, the iGrow laser system has a partnership with China Central Pharmaceuticals in China. China Central Pharmaceuticals holds exclusive distribution rights over Aspira in the country. Moreover, Capillus, LLC has collaborated with Svenson, a hair loss treatment clinic to expand the distribution of laser therapy caps in Europe and Asia Pacific region. The partnership with local players and service providers is expected to increase the adoption of innovative therapy for hair loss treatment.
Alopecia Market Segmentation
Grand View Research has segmented the global alopecia market on the basis of treatment, disease type, gender, sales channel, end-use, and region:
Based on the Disease Type Insights, the market is segmented into Alopecia Areata, Cicatricial Alopecia, Traction Alopecia, Alopecia Totalis, Alopecia Universalis, Androgenetic Alopecia, and Others.
- The alopecia areata segment dominated the market and held the largest revenue share of 35.2% in 2020 driven by high disease prevalence and growing consumer awareness among patients. According to National Alopecia Areata Foundation, around 147.0 million people are affected by AA globally, out of this, around 6.8 million people live in the U.S. only. The segment is anticipated to witness a significant growth rate over the forecast period owing to an increase in the development of novel therapy and favorable initiatives in the approval process.
- The androgenetic alopecia segment and held the second-largest revenue share in 2020. The rising awareness about these conditions, driven by proactive initiatives by organizations such as American Hair Loss Association, Alopecia World and National Hair Loss Awareness Month by HairMax (Lexington International) are contributing to the market growth. Moreover, the adoption of laser-based treatment options for AGA is also fueling the market growth over the forecast period.
- Alopecia totalis and alopecia universalis segments are anticipated to grow at the fastest growth rate over the forecast period. Increasing awareness regarding severe forms of alopecia and an increase in research activities to develop novel and effective treatment options is expected to drive the market growth over the forecast period.
Based on the Treatment Type Insights, the market is segmented into Pharmaceuticals, and Devices.
- The pharmaceutical segment dominated the market and accounted for the largest revenue share of more than 98.0% in 2020. The low cost of pharmaceutical products and high usage of prescription and OTC drugs are the main factors driving the segment. Finasteride and minoxidil are the most common drugs used to treat any form of alopecia.
- Devices consist of laser-based device used for hair regrowth and are expected to grow at the fastest growth rate during the forecast period. Increasing adoption of painless treatment coupled with minimal side effects and adoption of home-used laser devices are forces driving the segment growth in the next 5 to 8 years.
- Low-level laser therapy offers the convenience of at-home use and minimizes the need for clinical visits. Moreover, it provides a non-pharmacological and non-surgical viable therapeutic action for hair restoration due to which the market is expected to grow steadily over the forecast period. FDA clearance for low-level laser therapy devices, such as iRestore and Hairmax, for treatment of most commonly occurring forms of alopecia, such as the androgenetic alopecia, is likely to boost the market growth for the same over the forecast period.
Based on the Gender Insights, the market is segmented into Male, and Female.
- The male alopecia segment dominated the market and accounted for the largest revenue share of 53.8% in 2020 owing to the high prevalence of hair loss in the male population worldwide. Androgenetic alopecia is the most common alopecia in the male population.
- The female alopecia market is anticipated to grow at the fastest rate over the forecast period. Rising awareness levels, lifestyle changes, increased PCOS levels and a growing trend of cosmetic procedures are expected to increase the growth of the market.
Based on the Sales Channel Insights, the market is segmented into Prescription, and OTC.
- The prescription segment dominated the market and accounted for the largest revenue share of 64.9% in 2020 due to the high number of visits to dermatologists for hair loss treatment. According to the National Library of Medicine, around 2.6 million outpatients visit dermatologists for alopecia areata treatment in the U.S. annually.
- The OTC segment which is widely used in the developing regions where players find multiple opportunities to address unmet medical needs of a large patient pool across countries such as China, Japan, Mexico, Brazil, and India.
Based on the End-use Insights, the market is segmented into Homecare Settings, and Dermatology Clinics.
- The dermatology segment dominated the market and accounted for the largest revenue share of 57.6% over the forecast period. Modern treatment methods such as laser technology, a strong product pipeline, and heightened consumer awareness regarding the use of prescription medicines are the main factors responsible for the continued growth of the segment.
- The home care setting segment will be the fastest-growing segment over the forecast period owing to convenience, ease of usage, and patient comfort. Moreover, there are a growing number of regulatory approvals being given for home-use devices in addition to the growing adoption of non-invasive procedures such as laser therapy that do not require any lifestyle changes. For instance, in March 2020, the U.S. FDA approved LifeMD’s Shapiro MD hair restoration device to promote hair growth in men and women with androgenetic alopecia and available through direct-to-consumer platforms and telemedicine.
Alopecia Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Some of the key players that dominated the global pharmaceutical market for alopecia in 2020 include Johnson & Johnson Services, Inc.; Merck & Co., Inc.; Cipla Limited; Sun Pharmaceuticals Industries Ltd.; Dr. Reddy’s Laboratories Ltd.; GlaxoSmithKline plc; Aurobindo Pharma; Mylan N.V. (Viatris Inc.). While some of the prominent players in the devices market include:
- iRestore Hair Growth System (Freedom Laser Therapy)
- iGrow Laser (Apira Science, Inc)
- Theradome
- Curallux, LLC (Capillus)
- LUTRONIC
- Lexington Intl., LLC. (HairMax)
Order a free sample PDF of the Alopecia Market Intelligence Study, published by Grand View Research.
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