Alopecia Market Size, Share & Trends Analysis Report By Disease Type (Alopecia Areata, Androgenetic Alopecia), By End Use, By Sales Channel, By Gender, By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global alopecia market size was valued at USD 8.52 billion in 2018 and is expected to expand at a CAGR of 5.5% over the forecast period. Key factors attributed to the revenue growth include rising prevalence of chronic disorders such as hypothyroidism, hyperthyroidism, acute stress disorder, hypopituitarism, and lupus. Moreover, increasing incidence Addison’s disease, Hodgkin’s disease, Hashimoto’s disease, and celiac disease along with factors such as easy access to treatment are anticipated to drive the revenue growth.

In addition, changing lifestyle such as increasing consumption of alcohol, tobacco, and other associated products, increasing stress levels, and the expanding geriatric population are expected to drive the market. Increasing disposable incomes coupled with growing emphasis on aesthetic appearance are also expected to contribute to the demand for alopecia treatment.

Hormonal imbalance and aging contribute to rising cases of hair loss. Prevalence of stress, anxiety, and depression due to changing lifestyle can lead to alopecia, driving the market growth. Overall rise in geriatric population and rising awareness and preference for surgical hair transplants and other such treatments is also projected to positively influence the global market in the forthcoming years.

Product development of novel therapeutic options are expected to drive growth in the years to come. Recent product developments, such as introduction of rapidly acting JAK drugs approved by the U.S. Food and Drug Administration (FDA), development of methods to stimulate hair growth using human pluripotent stem cells, development of PRP treatment, introduction of a new drug named SM04554 which specifically stimulates hair growth in men; are driving the market.

Disease Type Insights

On the basis of disease type, the alopecia market is classified into alopecia areata (AA), androgenetic alopecia, and others. Androgenetic type led this space in 2018 with a revenue of USD 7.24 billion and is anticipated to grow at a lucrative rate over the forecast period. On the other hand, alopecia areata was anticipated to be the fastest growing market over the forecast period with a CAGR of 6.3%. 

Androgenetic alopecia or Male-Pattern Hair Loss (MPHL) is associated with several medical conditions such as coronary heart disease, prostate cancer, diabetes, obesity, hypertension, and Polycystic Ovary Syndrome (PCOS). In addition, availability of treatments such as licensed topical treatments; oral treatments involving use of finasteride and minoxidil; and surgical treatments such as hair transplantation and replacement are expected to drive the market. Laser treatments are also becoming popular for non-invasive approach. Such non-invasive treatment approaches are also expected to drive the androgenetic segment.

AA is an autoimmune skin disease characterized by hair loss on the scalp, face, and other areas of the body. Alopecia areata is further segmented in to patchy, totalis, and universalis. Increasing prevalence of alopecia areata owing to autoimmune diseases such as hyperthyroidism, diabetes, and Down’s syndrome is anticipated to drive demand over the forecast period. Increasing prevalence coupled with growing awareness regarding aesthetic appeal and physical appearance is also anticipated to drive the growth in the next few years.

End Use Insights

On the basis of end use, the market is classified into homecare settings and dermatology clinics. Dermatology clinics led the market in 2018 with a revenue of USD 4.69 billion and is anticipated to grow at a lucrative rate over the forecast period. On the other hand, treatment in homecare settings is anticipated to grow at the fastest CAGR of 6.0% during the forecast period.

Dermatology clinics with newer technologies and prescription hair care products help many affected individuals combat their condition. Consultation with dermatologists is considered as the best option for the treatment, as they prescribe appropriate medication or therapy for effective results. These factors are responsible for high demand for dermatology clinics for hair loss treatment.

Many advanced devices for home use are developed for comfort, convenience, and ease of use without a prescription. Moreover, advancing technology and preference for eas of use, convenience, and availability of innovative devices such as laser caps, helmets, laser combs, and other systems is anticipated to drive the homecare segment during the forecast period. Some FDA approved home use devices include 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 medications or treatment devices. Sale of prescription products led the in 2018 with a revenue of USD 4.92 billion, and is anticipated to grow at a lucrative rate over the forecast period. On the other hand, OTC segment is anticipated to expand at the fastest CAGR of 6.1% during the forecast period.

Prescription medicine segment is expected to expand owing to rising disposable income and rapidly changing lifestyle. Corticosteroids and finasteride are some of the majorly prescribed medications. North America prescription hair loss therapeutics market is the largest, followed by Europe, due to factors such as increase in obese population, stress, and tobacco and alcohol consumption.

Growing demand for low-cost treatment, rising awareness regarding adverse effects of prescribed drugs, and increasing availability of options are driving the demand for OTC products. Moreover, a surge in the number of FDA-approved OTC products for hair loss treatments is further 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. In U.S., about 35 million men and 21 million females suffer from hair loss. While in China, about 21% of males and 6% of females suffer from hair loss. Moreover, according to the American Hair Loss Association, about 95% of hair loss among men is AA and its occurrence tends to increase with age, according to a study carried out by National Centre for Biotechnology Information (NCBI). On the other hand, women hold larger market share owing to high awareness levels coupled with increased frequency of Polycystic Ovary Syndrome (PCOS) causing hormonal imbalance that leads to androgenetic alopecia.

In 2018, alopecia therapeutics in women accounted for the largest share, with a revenue of USD 4.67 billion and is expected to continue its dominance over the forecast period. Moreover, the market for women is also anticipated to witness the fastest CAGR over the forecast period. High awareness pertaining to the hair treatments is the key factor driving the growth. Alopecia Areata and Telogen Effluvium alopecia are other common types found in both men and women.

Regional Insights

Key regional markets are North America, Asia Pacific, Europe, Latin America, and Middle East and Africa (MEA). In 2018, North America led the market with a revenue of USD 3.88 billion and is expected to grow at a lucrative rate over the forecast period. Presence of technologically advanced healthcare infrastructure, high disposable income, and availability of novel therapeutic options pertaining to the treatments are a few factors contributing to the high market share of North America. Additionally, the high prevalence and the proportionally high treatment rates pertaining to hair loss in the U.S. are high major drivers for the North American market.

On the other hand, Asia Pacific is anticipated to witness the fastest CAGR over the forecast period. A large population suffering from alopecia and rising awareness pertaining to the available therapeutic options are the 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. Recent innovations and technological trends in treatment, increasing healthcare expenditures, and augmented healthcare facilities are expected to further drive the growth.

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.; and 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, strategic initiatives taken by the key players, and FDA approvals obtained for certain products are the major competitive strategies paving way for market expansion. In April 2016, Johnson & Johnson declared the launch of a new global healthcare initiative to provide healthcare solutions, in Africa. In January 2016, Cipla announced that they have 200 drugs under development, of which 50 drugs have the potential to generate USD 30 billion.

Report Scope

Segments Covered in the Report

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 2014 to 2025. 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 - 2025)

  • Alopecia Areata

  • Androgenetic Alopecia

  • Others

• End Use Outlook (Revenue, USD Million, 2014 - 2025)

  • Homecare Settings

  • Dermatology Clinics

• Sales Channel Outlook (Revenue, USD Million, 2014 - 2025)

  • Prescriptions

  • OTC

• Gender Outlook (Revenue, USD Million, 2014 - 2025)

  • Male

  • Female

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • France

    • Italy

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Singapore

    • Australia

  • Latin America

    • Brazil

    • Maxico

    • Argentina

  • MEA

    • Saudi Arabia

    • UAE

    • South Africa