According to a new report published by Acumen Research and Consulting titled “Alopecia Market (By Disease Type: Alopecia Areata, Androgenetic Alopecia; By End Users: Homecare Settings, Dermatology Clinics; By Distribution Channel: Prescriptions, OTC) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”, the global market for alopecia is estimated to grow at a significant rate and the market value was estimated $8.44 billion in 2018. The major driving factor for the alopecia market is increasing research activities is estimated to drive the growth of the alopecia market during the forecast period. Moreover, rapidly emerging new drug delivery techniques, rising in adoption of new technology across wide applications, increasing government support, and cost-effectiveness of therapies has supported the growth of the market.
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Alopecia is a prevalent autoimmune disease, resulting in hair loss all over the body, primarily on the scalp. The increasing R&D investments pertaining to the development of novel therapeutics for the treatment of Alopecia is expected to boost the usage rates. Furthermore, ageing increasing Chronic disease like arthritis, Cancer, Hypertension, depression also leads to hair loss especially among middle aged population. Prevalence rate is high for Alopecia among working age population. Changing lifestyle along with increase in stress level among working class population along with huge demand for surgical hair transplant is expected to drive the Alopecia market. Launch of new products, approvals and robust pipeline of novel products is expected to be the major driver of growth.
The global alopecia market is segmented on the basis of types, end users, and distribution channel. On the basis of disease type, the global market is segmented into alopecia areata, androgenetic alopecia, and others. Alopecia Areata leads the segment and is anticipated to grow at a lucrative CAGR in the forecast period.
On the basis of end users, the market is segmented into home care settings, dermatology clinics, and others. And on the basis of distribution channel, the market is categorized into prescriptions and OTC.
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Geographically, the global alopecia market is bifurcated into 4 major regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA). Increasing prevalence of alopecia diseases across North and South America is the primary reason behind significant growth of this region. Rapid life style changes, technological improvements, developed healthcare infrastructure, are some of the other factors indirectly impacting the growth of the alopecia market in this region. Europe, on the other hand, is the second largest market witnessing moderate growth for alopecia market. European government is coming up with some of the initiative to educate and to raise the awareness regarding various diseases. Additionally, rapidly increasing prevalence of alopecia in Europe coupled with availability of huge finds for R&D has boosted the market growth in this region. Asia Pacific anticipated growing at fastest CAGR during the forecast period 2019-2025. Growing healthcare tourism, increasing prevalence of chronic diseases, changing lifestyle, heavy investment in drug formulation and large number product launches are some of the primary factors supporting the growth of this region. However, LAMEA holds the least share in the alopecia market.
The major companies are partnering with other players as a part of strategic expansions and minimizing the competition. On the other hand the local players are offering their products at low cost to sustain in the market. Some of the leading companies operating in the global Alopecia market include Cipla,Dr. Reddy’s Laboratories Ltd, Merck & Co.,Viviscal, Regaine, Ranbaxy Laboratories Ltd, Kirkland Signature, Lexington International LLC, Vitabiotics, Alpecin - Dr. Kurt Wolff GmbH & Co, Johnson and Johnson, GlaxoSmithKline PLC.
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