Alopecia Market Size, Share & Trends Analysis Report By Disease Type, By End Use (Homecare Settings, Dermatology Clinics), By Sales Channel (OTC, Prescription), By Gender, And Segment Forecasts, 2019 - 2026

Industry Insights

The global alopecia market size was valued at USD 2.5 billion in 2018 and is expected to expand at a CAGR of 8.3% over the forecast period. One of the key factors contributing to revenue growth is increasing prevalence of alopecia areata and androgenetic alopecia. Rise in incidence of Polycystic Ovary Syndrome (PCOS), cancer, hypothyroidism, hyperthyroidism, acute stress disorder, hypopituitarism, lupus, and other chronic disorders is also anticipated to drive the market.

Lifestyle changes such as excessive consumption of alcohol, tobacco, and associated products, and increasing stress levels are considered potent triggers for alopecia. Although the exact causative factors remain unknown, several cases are linked to genetic factors. In addition, increasing disposable incomes and growing emphasis on aesthetic appearances are also expected to contribute to the demand for alopecia treatment.

Hormonal imbalance and aging contribute to rising cases of hair loss. Overall rise in geriatric population and growing consumer awareness regarding treatment options are also projected to positively influence the global market in the forthcoming years.

Product development of novel therapeutic options is expected to drive the market over the course of the forecast period. Introduction of rapidly acting JAK inhibitors, development of methods to stimulate hair growth using human pluripotent stem cells, and PRP treatment are other factors driving the market.

Disease Type Insights

The alopecia market has been segmented on the basis of disease type into areata, cicatricial, traction, totalis, universalis, androgenetic, and others. Alopecia areata led the market in 2018, capturing more than 30% of the revenue. The growth is driven by high prevalence of the disease and rise in consumer awareness. This condition is most common in people with autoimmune diseases such as hyperthyroidism, diabetes, and Down’s syndrome. Alopecia totalis and universalis are advanced stages of alopecia areata.

Androgenetic alopecia is estimated to be the fastest growing type over the forecast period, driven by the expected launch of several key late-stage pipeline drugs and rising disease incidence. This condition is caused by androgens in individuals with genetic predisposition to hair loss. Various treatment options, such as licensed topical treatments, oral treatments such as finasteride and minoxidil, and surgical treatments such as hair transplantation and replacement are available for treating androgenetic alopecia.

End-use Insights

The dermatology clinics segment dominated the alopecia market by end use in 2018 and is anticipated to grow at a lucrative rate over the forecast period. Worldwide increase in the number of hair restoration and transplantation surgeries and high usage of prescription drugs also contribute to the large share of the dermatology clinics segment.

The homecare settings segment is driven by growing number of regulatory approvals for home-use devices. In addition, rising adoption of laser therapy for hair loss treatment is anticipated to boost segment growth. Moreover, advancing technology and preference for ease of use, convenience, and availability of innovative devices such as laser caps, helmets, laser combs, and other systems is anticipated to drive the segment during the forecast period. Some FDA-approved home use devices are Hair Max Advanced Laser Comb & HairMax Laser Band 82 by Lexington International; iRestore laser hair growth system by Freedom Laser Therapy, Inc.; and Theradome hair grow helmet by Theradome, Inc.

Sales Channel Insights

On the basis of sales channel, the market is categorized into over the counter (OTC) and prescription-based products. Prescription products led the market in 2018 and it is estimated to retain its lead through 2026. Corticosteroids and finasteride are some of the majorly prescribed medications for treatment of alopecia.

Growing demand for low-cost treatment, adverse effects of approved medications, and increasing availability of options are driving demand for OTC products. Moreover, a surge in the number of FDA-approved OTC products for hair loss treatment is increasing their demand. Some of the FDA-approved OTC products for hair loss treatment are Keranique hair regrowth system and Oscar Blandi hair lift instant thickening and strengthening serum.

Gender Insights

Alopecia is more prominent in men than in women. According to data published by the American Hair Loss Association and the U.S. National Library of Medicine, over 95% of hair loss cases among men are androgenetic type and about 50% men tend to experience some degree of hair loss at an average age of 50. The class of male hormones, androgens, is one of the major reasons for androgenetic alopecia among males. Moreover, increasing geriatric population and growing tobacco intake among men are factors expected to drive the market.

Alopecia in women in driven by increasing incidence of PCOS, rise in cosmetic procedures, and unhealthy lifestyle changes. Increasing awareness among women also highlights the growth in the treatment market. Hair loss in women can occur at any age; however, generally, 40% of women experience hair loss by the age of 50.

Regional Insights

In 2018, North America accounted for over 34.0% of the market revenue and is expected to witness healthy growth over the forecast period. Technological advancements, high disposable income, increase in disease prevalence, and new product development are some of the factors contributing to the high market share of North America.

Asia Pacific is anticipated to witness the fastest growth over the forecast period. High prevalence of alopecia and rising awareness pertaining to available therapeutic options are key growth drivers. Economic development, coupled with constantly increasing per capita healthcare expenditure in emerging countries such as China, India, and Singapore, is anticipated to create high growth opportunities.

Alopecia Market Share Insights

Some of the key companies operating in the market are Cipla Inc.; Sun Pharmaceutical Industries Ltd.; Johnson and Johnson AG; Merck & Co., Inc.; Lexington International LLC; Cirrus Hair Centers; Vita-Cos-Med Klett-Loch GmbH; Transitions Hair Pty Ltd.; Follica, Inc.; and Capillus.

Increasing R&D efforts to enhance treatments and FDA approvals obtained for certain products are major competitive strategies paving the way for market expansion. In April 2016, Johnson & Johnson declared the launch of a new global public health initiative to provide holistic healthcare solutions in Africa.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research 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, 2014 - 2026)

  • Alopecia Areata

  • Cicatricial Alopecia

  • Traction Alopecia

  • Alopecia Totalis

  • Alopecia Universalis

  • Androgenetic Alopecia

  • Others

• End use Outlook (Revenue, USD Million, 2014 - 2026)

  • Homecare Settings

  • Dermatology Clinics

• Sales Channel Outlook (Revenue, USD Million, 2014 - 2026)

  • Prescriptions

  • OTC

• Gender Outlook (Revenue, USD Million, 2014 - 2026)

  • Male

  • Female

• Regional Outlook (Revenue, USD Million, 2014 - 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • France

    • Italy

    • Sweden

    • Netherlands

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Taiwan

    • Vietnam

    • Thailand

    • Malaysia

    • Singapore

    • Indonesia

    • Philippines

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Turkey

    • Egypt

    • Iran

    • Israel

    • Saudi Arabia

    • UAE