Global Alopecia Market is expected to reach USD 11.8 billion by 2024. Alopecia is also termed as baldness or hair loss is a medical term that mainly affects the scalp or may occur on any hair-bearing skin. It may occur naturally, or due to disease or side effects of medications. Alopecia is not a specific hair loss disease but any form of hair loss. The Alopecia Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
Growth
in geriatric population, rising depression and hypertension among populace,
increasing demand for surgical hair transplant, technologically enhanced hair
treatment medical devices, and growing disposable income are documented as
major factors of Alopecia Market that are estimated to enhance the growth in
the years to come. However, high cost of medication may restrain overall market
growth in the coming years. Alopecia Market is segmented based on type, product
type, gender, mode of action, end user, and region.
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Alopecia
areata, scarring alopecia, androgenic alopecia, diffuse unpatterned alopecia
(DUPA), female pattern baldness (FPB), alopecia totalis, postpartum alopecia,
traction alopecia, and other types could be explored in Alopecia in the
forecast period. Shampoos and conditioners, vitamins and supplements, and other
product types could be explored in Alopecia in the forecast period. Other
product type comprises gels, serums, and oils.
Children,
men, and women are three main genders that could be explored in Alopecia in the
forecast period. Men sector accounted for the substantial market share of
Alopecia and is estimated to lead the overall market in the coming years. This
may be because in the United States, 35 million men suffer from hair loss and
about 95% of men suffer from androgenic alopecia across world. The key reason
is smoking habits in men and growing male geriatric population.
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opical,
oral, and other mode of action could be explored in Alopecia in the forecast
period. Topical mode of action accounted for the substantial market share of
Alopecia and is estimated to lead the overall market in the coming years. The
market may be categorized based on end users like dermatology clinics,
homecare, salons, and others that could be explored in the forecast period.
Globally,
North America accounted for the substantial market share of Alopecia in terms
of revenue and is estimated to lead the overall market in the coming years. The
reason behind the overall market growth could be developed healthcare
infrastructure with latest technology, availability of new therapeutic options,
high occurrence of hair loss issues, and high disposable income. The United
States is a major consumer of Alopecia in this region.
Instead,
Europe and the Asia Pacific are also estimated to have a positive influence on
the future growth. Europe is the second largest region with significant market
share. However, Asia Pacific is estimated to grow at fastest pace with the
highest CAGR in the foremost period. The aspects that may be ascribed to the
growth comprise huge population suffering from Alopecia, developing healthcare
infrastructure, and growing awareness regarding availability of several
therapeutic options to treat Alopecia. The developing countries like India and
China are the major consumers of Alopecia in this region.
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