Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Alopecia market.

Trusted Business Insights presents an updated and Latest Study on Alopecia Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Alopecia market during the forecast period (2020-2029).It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Report Overview: Alopecia Market

The global alopecia market size was valued at USD 1.5 billion in 2020 and is expected to expand at a CAGR of 8.4% over the forecast period 2021-2027. Rising prevalence of androgenetic alopecia and alopecia areata diseases is the key factor driving market growth.

Lifestyle alterations, such as immoderate intake of tobacco and alcohol, and escalating stress indices are considered as strong triggers for the disease. Though the exact disease cause remains unknown, the genetic factors have been linked to several cases. Moreover, the rise in disposable incomes as well as building emphasis on aesthetics are poised to drive the market demand and product penetration for alopecia.

Aging and hormonal anomalies have been listed as potent causative agents for alopecia. Furthermore, gender plays a key role in disease susceptibility. According to the American Hair Loss Association, it was stated that over 95% of loss of hair in men is caused due to androgenetic alopecia. In addition, a steady increase in consumer awareness toward alopecia therapeutic options are likely to positively impact the market in the future.

Moreover, the rising prevalence of chronic diseases, such as acute stress disorder, Polycystic Ovary Disease (PCOD), hyperthyroidism, hypothyroidism, cancer, lupus, and hypopituitarism across the globe, is expected to augment the revenue growth over the forecast period.

Continuous development of new therapeutic strategies is anticipated to boost growth through the projection period. Emergence of rapid-action JAK inhibitors and hair growth stimulation through PRP treatment and pluripotent stem cells are propelling the market growth. The upcoming launch of some breakthrough products indicates a favorable future for the global market.

Disease Type Insights: Alopecia Market

Based on disease types, the market is categorized into androgenetic, areata, cicatricial, totalis, universalis, traction, and others. Between the types, alopecia areata lead the segment in 2019, capturing almost 30% of total market share. The segment growth is supported by a high disease prevalence worldwide and increasing consumer awareness. The disorder is most prevalent in people suffering from autoimmune diseases, namely Downs syndrome, diabetes, and hyperthyroidism. Alopecia areata can progress into alopecia universalis and totalis.

Androgenetic alopecia is estimated to exhibit the fastest growth, driven majorly by the anticipated launch of multiple promising pipeline candidates and an escalating incidence rate. Androgens spawn the condition in people with a genetic disposition to alopecia. Various treatment strategies such as licensed oral, topical, and surgical therapies are accessible for androgenetic alopecia.

End-use Insights: Alopecia Market

Dermatology clinics generated the maximum revenue among all the end-use segments in 2019 and are forecasted to exhibit a lucrative growth rate over the next few years. Increasing number of transplantation and restoration surgeries, coupled with the widespread application of prescription medicines, is expected to contribute significantly to the market position of dermatology clinics.

Homecare settings are powered by broadening penetration of laser treatment and a rise in regulatory sanctions of home-use products. Furthermore, advanced technology, increasing emphasis on convenience, patient compliance, and market presence of contemporary products such as helmets, laser combs, and laser caps are projected to fuel the homecare segment growth.

Key FDA-sanctioned home-use products include Theradome hair grow helmet by Theradome, Inc., iRestore laser hair growth system by Freedom Laser Therapy, Inc., and Hair Max Advanced Laser Comb & HairMax Laser Band 82 by Lexington International.Sales Channel Insights

Based on sales channel, the market is bifurcated into prescription and OTC products. In 2019, prescription products lead the segment and are expected to expand at a significant CAGR over the forecast period. Finasteride and corticosteroids are a few majorly prescribed products for alopecia.Increasing demand for cost-effective treatment, easy accessibility of therapies, and addressing adverse effects associated with approved medications are fueling the requirement for OTC medicines. In addition, an upsurge in the quantity of FDA-licensed OTC products for alopecia is another growth-booster.Gender InsightsAlopecia is less prominent in women than in men. According to the U.S. National Library of Medicine and the American Hair Loss Association, nearly 50% of men experience some grade of hair fall by 50 years of age. Androgen is a leading cause of androgenetic alopecia in men. Moreover, expanding geriatric population base and increasing intake of tobacco are some of the additional factors poised to augment the alopecia market growth.

Female hair-loss occurs irrespective of age; however, almost 40% of women tend to suffer from hair loss by 50 years of age. Female alopecia is driven by an alarming rise in PCOS incidence rates, escalating number of cosmetic practices, and harmful lifestyle patterns. An increase in health consciousness among women is expected to increase the market growth.

Regional Insights: Alopecia Market

Key regional markets include North America, Asia Pacific, Europe, Latin America, and Middle East and Africa (MEA). North America contributed more than 34.0% market share in 2019. Enlarging disease prevalence, technological advancements, novel product development, and increasing disposable income are few contributors to North Americas market share.Asia Pacific region is positioned to exhibit the fastest growth over the next few years. Large population base and rising consumer awareness toward available treatment options are the key factors driving regional growth. Economic betterment and increased per capita healthcare spending, in developing countries such as India, China, and Singapore are expected to create strong commercial opportunities.Alopecia Market Share InsightsSome of the major companies operating in the market include

Rising R&D activities to improve treatment options, accelerated regulatory approvals, and strategic business initiatives undertaken by the key players sum up the major competitive approaches paving the road for expansion. For instance, Johnson & Johnson Services, Inc. launched a public health initiative at the global level to provide comprehensive health solutions in Africa, in April 2016.This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2027. Trusted Business Insights has segmented the global alopecia market report on the basis of disease type, end use, sales channel, gender, and region:

Disease Type Outlook (Revenue, USD Million, 2015 2027)

End-use Outlook (Revenue, USD Million, 2015 2027)

Sales Channel Outlook (Revenue, USD Million, 2015 2027)

Gender Outlook (Revenue, USD Million, 2015 2027)

Looking for more? Check out our repository for all available reports on Alopecia in related sectors.

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Alopecia Market Analysis, COVID-19 Impact,Outlook, Opportunities, Size, Share Forecast and Supply Demand 2021-2027|Trusted Business Insights - KYT24

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