Alopecia Market Set to Surge Significantly During the Forecast Period

The global alopecia market size is poised to reach USD 5.3 billion by 2027 and is anticipated to register a CAGR of 9.5% over the forecast period, according to a new report published by Grand View Research, Inc. Increasing prevalence of diseases across the globe, technological progress, and growth in per-capita expenditures toward healthcare are some of the factors expected to drive the market growth in the coming years.

There has been a marked increase in the overall disease prevalence due to changing lifestyle patterns such as surging consumption of tobacco and alcohol, unhealthy and inconsistent food habits, intense stress levels, and expanding geriatric population, thus contributing to the market growth. In addition, rising incidences of chronic diseases such as rheumatoid arthritis, cancer, and Polycystic Ovary Syndrome (PCOS) are anticipated to fuel the market growth.

The National Alopecia Areata Foundation stated that 147 million people are suffering from alopecia areata worldwide. Expanding consumer awareness towards this disease and possible treatments options are expected to augment the alopecia market growth. For instance, National Alopecia Areata Foundation’s Treatment Development Program (TDP) has accelerated the research work pertaining to this condition.

Rogaine and Propecia remain the only FDA-approved products in this market. Patent expiration of branded drugs has expanded the generic penetration in this space. However, impending launch of multiple promising pipeline products, such as Xeljanz (tofacitinib), Jakafi (ruxolitinib), Breezula (clascoterone), SM04554, and Lumigan (Bimatoprost) is likely to inflate market growth in the near future.

Reimbursement for alopecia treatment continues to be a major challenge in this market. Most treatment modalities for this disorder are considered cosmetic and not medically essential, thus mostly remain uncovered under insurance schemes. Frequent doctor visits, coinsurance for procedures, and prescription drug copays are some of the major out-of-pocket costs for this disease treatment.

Access Research Report of Alopecia Market @ http://www.grandviewresearch.com/industry-analysis/alopecia-market

Further key findings from the study suggest:

• The alopecia areata disease type segment contributed for over 30% of the revenue share in 2019
• The androgenetic alopecia disease type segment is positioned to demonstrate a growth rate of over 10% over the forecast period
• The homecare settings end-use segment is projected to be broadening penetration of laser treatment and rise in regulatory sanctions of home-use products
• Asia Pacific is anticipated to witness the fastest growth owing to large population base and rising consumer awareness toward available treatment options
• Economic betterment and increased per capita healthcare spending, in developing countries such as India, China, and Singapore are expected to boost the regional market
• Lack of stringent reimbursement policies is a major factor restraining the market growth since the treatment for this disorder is not considered medically essential
• Some of the key companies in the market of the key companies in the market are Johnson and Johnson Services, Inc.; Sun Pharmaceutical Industries Ltd.; Cipla Inc.; Lexington International LLC; Merck & Co., Inc.; Cirrus Hair Centers; and Transitions Hair Pty Ltd.

Grand View Research has segmented the global alopecia market on the basis of disease type, end use, sales channel, gender, and region:

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

• Alopecia Areata
• Cicatricial Alopecia
• Traction Alopecia
• Alopecia Totalis
• Alopecia Universalis
• Androgenetic Alopecia
• Others

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

• Homecare Setting
• Dermatology Clinics

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

• Prescriptions
• OTC

Alopecia Gender Outlook (Revenue, USD Million, 2015 - 2027)

• Male
• Female

Alopecia Regional Outlook (Revenue, USD Million, 2015 - 2027)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • 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
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Egypt
  • Iran
  • Israel

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.