Alopecia areata, an autoimmune disorder causing localized or widespread hair loss, results from genetic and environmental factors. Stress, hormonal fluctuations, and viral infections may trigger this condition, affecting people of all ages and genders. Severity varies, with hair loss extending to eyebrows, eyelashes, and beards. Men often exhibit a higher familial predisposition to hair loss than women. The alopecia areata market addresses the growing need for effective treatments, emphasizing the demand for innovative solutions to manage this challenging autoimmune condition.
Data Bridge Market Research analyzes that the Global Alopecia Areata Market which was USD 3.01 billion in 2022, is expected to reach USD 5.00 billion by 2030, and is expected to undergo a CAGR of 6.3% during the forecast period of 2023 to 2030.
"Increasing prevalence of hair loss drive the market growth"
The alopecia areata market is thriving due to the escalating global incidence of hair loss, linked to stress, genetics, hormonal imbalances, and environmental factors. Rising demand for effective treatments has spurred research and development initiatives to combat the autoimmune disorder. In the U.S., an estimated 50 million men and 30 million women were affected in 2018, emphasizing the widespread impact. The Journal of Clinical and Diagnostic Research highlighted that 60% of the population experiences hair thinning, with pattern hair loss prevalent. Approximately 2% of the entire population faces the risk of alopecia areata, irrespective of gender, emphasizing the market's significance.
What restraints the growth of the global alopecia areata market?
" High cost of treatment hamper the market growth"
The alopecia areata treatment market encounters obstacles due to the substantial costs linked with specific options such as immunotherapy or hair transplantation. These elevated prices pose accessibility challenges for certain patient populations, potentially impeding the market's broader expansion. Financial barriers may restrict the adoption of advanced therapies, impacting the complete growth potential of the alopecia areata treatment market.
Segmentation: Global Alopecia Areata Market
The global alopecia areata market is segmented on the basis of type, treatment, diagnosis, route of administration, end-users and distribution channel.
- On the basis type, the global alopecia areata market is segmented into patchy alopecia areata, alopecia totalis, alopecia universalis, diffuse alopecia areata, ophiasis alopecia, and others
- On the basis treatment, the global alopecia areata market is segmented into medical treatments, natural treatment, and others
- On the basis diagnosis, the global alopecia areata market is segmented into trichoscopy, skin biopsy, and others
- On the basis route of admistration, the global alopecia areata market is segmented into oral, topical, parenteral, and others
- On the basis end-users, the global alopecia areata market is segmented into hospitals, specialty clinics, homecare, and others
- On the basis distribustion channel, the global alopecia areata market is segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others
Regional Insights: North America is expected to dominate the Global Alopecia Areata Market
North America is expected to dominate the global alopecia areata market, driven by the increasing prevalence of autoimmune diseases in the region. The growing incidence, coupled with rising healthcare expenditure, is anticipated to propel the market's growth. This dominance positions North America as a key contributor to the expanding market for alopecia areata treatments and therapies.
Asia-Pacific is expected to dominate the global alopecia areata market, experiencing substantial growth from 2023 to 2030. The region benefits from easy access to over-the-counter (OTC) drugs and a rising trend in hair loss treatment using herbal and synthetic medicines. The ongoing development of healthcare infrastructure adds momentum to the market's growth, underscoring the region's significance in shaping the future of alopecia treatment.
Recent Developments: Global Alopecia Areata Market
- In March 2023, Sun Pharmaceuticals Industries Ltd. announced the presentation of phase 3 clinical trial data for deuruxolitinib, an oral medication aimed at enhancing scalp hair regrowth in alopecia areata patients
- In June 2023, Pfizer Inc. received FDA approval for LITFULOTM (ritlecitinib), an oral treatment for severe alopecia areata in individuals aged 12 and above, positioning it as an advanced therapeutic option for people with the condition
To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-alopecia-areata-market
The Prominent Key Players Operating in the Global Alopecia Areata Market Include:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Sanofi (France)
- Pfizer Inc. (U.S.)
- GlaxoSmithKline plc (U.K.)
- Novartis AG (Switzerland)
- Bayer AG (Germany)
- Eli Lilly and Company (U.S.)
- Merck & Co., Inc. (U.S.)
- Allergan (Ireland)
- AstraZeneca (U.K.)
- AbbVie Inc. (U.S.)
- Johnson & Johnson Services Inc. (U.S.)
- Cipla Inc. (India)
- Abbott (U.S.)
- Merck KGaA (Germany)
- Sun Pharmaceutical Industries Ltd. (India)
- Aurobindo Pharma (India)
- Lupin Ltd (India)
- Hikma Pharmaceuticals PLC (U.K.)
- LEO Pharma A/S (Denmark)
- Bausch Health Companies Inc. (Canada)
- Baxter (U.S.)
- Perrigo Company plc (Ireland)
Above are the key players covered in the report, to know about more and exhaustive list of global alopecia areata market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Alopecia Areata Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
