Androgenetic Alopecia Treatment Market is Segmented By Product (Shampoos and Conditioners, Vitamins and Supplements, Others), By Route of Administration(Oral, Topical, Injectables), By Drug Class (Corticosteroids, 5AR Inhibitors, Vasodilators), By End-User(Homecare settings, Dermatology Clinics, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Androgenetic Alopecia Treatment Market is expected to grow at a CAGR of 8% during the forecast period (2024-2031).
Androgenic alopecia is a disorder that can affect men and women alike. Male pattern baldness is a condition in which men lose their hair as early as their teens or early twenties. This condition describes a receding hairline and gradual hair loss from the crown and frontal scalp.
Market Summary
| Metrics | Details |
| Market CAGR | 8% |
| Segments Covered | By Product, By Route of Administration, By Drug Class, By End-User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The global incidence of chronic disorders such as cancer, hypertension, arthritis, and others is driving the expansion of the alopecia treatment industry. Furthermore, an increase in alopecia treatment and management awareness campaigns and an increase in the senior population are contributing to the market's growth.
The increase in prevalance of alopecia cases in the market will drive the market growth
Due to a significant increase in the prevalence of alopecia, the global androgenetic alopecia treatment market is expected to grow rapidly in the coming years. In wealthy countries, the number of persons seeking alopecia therapy is extremely large. On the other hand, increased healthcare spending has boosted the demand for alopecia therapy in developing countries like China and India.
According to the AHLA, androgenetic alopecia causes 95 per cent of hair loss in men. According to the Association, around 800,000 people worldwide are taking hair loss treatment. Other factors driving the alopecia treatment market include an increase in the geriatric population and an increase in hypertension and depression among the middle-aged population. The growth of the alopecia treatment market is fueled by an increase in the prevalence of chronic diseases such as hypertension, arthritis, Polycystic Ovary Syndrome (PCOS), and depression; a rise in the geriatric population; hormonal imbalance; high levels of stress; increased consumption of alcohol and tobacco, changes in eating habits, and an increase in the prevalence of chemotherapy-induced alopecia. Furthermore, an increase in alopecia treatment and management awareness programmes; an increase in the prevalence of alopecia conditions such as androgenic alopecia, alopecia areata, alopecia totalis, and others; and genetic factors that may contribute to an increase in alopecia incidences among both men and women are all factors that contribute to the market's growth. However, low demand for alopecia treatment medications in developing nations is projected to stifle market expansion.
Side effects associated with the available hair loss treatment therapies is likely to hamper the market growth
The increasing limitations associated with certain alopecia treatments are expected to be a major impediment to the growth of the global alopecia treatment market, for example, according to a series of reports published in September 2017 by the U.S. Food and Drug Administration's (FDA's) Patient-Focused Drug Development Initiative, which include patient perspectives on treatments for alopecia areata. Many of the patients/participants who reported using corticosteroids to treat alopecia said they were frequently ineffective and had significant side effects. Some participants reported temporary success in slowing or stopping the rate of hair loss with these treatments. However, many of the participants had little or no response to corticosteroid use. As a result, the participants deemed corticosteroids 'ineffective' and 'not a viable treatment option.'
COVID-19 Impact Analysis on Market
The COVID-19 and lockdown in various countries around the world have impacted the financial status of businesses in all industries, including the private healthcare sector. The COVID-19 pandemic has impacted the entire healthcare supply chain, owing to strict lockdown in several regions. The COVID-19 pandemic has had a three-pronged impact on the global economy:
- By directly affecting production and demand
- By disrupting distribution channels
- By having a monetary impact on businesses and financial markets
Several countries, including Thailand, Indonesia, and Singapore, are experiencing transportation and distribution issues with healthcare products.
The COVID-19 pandemic disrupted global healthcare delivery in 2020, including cosmetic or hair care diagnosis and treatment delays. As a result, the impact of the COVID-19 pandemic is expected to limit global alopecia treatment market growth during the forecast period. According to an article published in the journal Clinical and Experimental Dermatology, there will be a drop in dermatology and hair care outpatient services and appointments in England on December 25, 2020, due to the COVID-19 pandemic. Total dermatology appointments fell to 58 per cent, first attendances to 43 per cent, follow-ups to 51 per cent, and day cases to 37 per cent of pre-lockdown levels during the COVID-19 lockdown. After the lockdown, total appointments remained low, accounting for only 75% of pre-lockdown values. There were 484,415 (17 per cent) fewer total appointments between April and October of 2020 than during the same period in 2019.
Market Segmentation Analysis
The drug segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)
The segment is driven by the low cost of pharmaceutical products and the high use of prescription and over-the-counter drugs. The most frequent medications used to treat alopecia are finasteride and minoxidil. Finasteride and minoxidil are the only medications approved in the United States to treat both Female Pattern Hair Loss (FPHL) and Male Pattern Hair Loss (MPHL) (MPHL). Furthermore, prominent pharmaceutical firms such as Lilly, Pfizer Inc., and Concert Pharmaceuticals are actively involved in the development of innovative alopecia treatments, which is expected to fuel the segment throughout the projection period.
Devices, including laser-based hair regrowth devices, are predicted to increase at the quickest rate during the projection period. In the next 5 to 8 years, increasing adoption of painless treatment with common side effects and the adoption of home-use laser equipment will drive category growth. Low-level laser therapy allows you to utilise it at home, reducing the need for clinical appointments. Furthermore, it provides a non-pharmacological and non-surgical viable therapeutic action for hair restoration, resulting in a steady market growth over the forecast period.
Market Geographical Share
North America region holds the largest market share of global androgenetic alopecia treatment market
North America accounted for the largest market share of the global androgenetic alopecia treatment market in 2020 and estimated to dominate over the forecast period. High illness prevalence, increased consumer awareness, proactive government initiatives, technological breakthroughs, and improvements in healthcare infrastructure are all driving the industry forward. The presence of major companies in this region is a major driving force for market expansion. Furthermore, expanding laser-based therapy to treat alopecia is improving the region's treatment rate. Furthermore, government and non-profit organisations such as the National Alopecia Areata Foundation (NAAF), the Canadian Alopecia Areata Foundation, and others, which establish recommendations and raise public awareness, are expected to have a favorable effect on the market.
Because of the rising number of product releases and approvals by market players located in this region, North America is likely to be the most lucrative region in the global alopecia treatment market. For example, Eli Lilly and Company, in collaboration with Incyte Corporation, announced on March 16, 2020, that baricitinib had been granted Breakthrough Therapy designation by the US Food and Drug Administration (FDA) for the treatment of alopecia areata (AA). This autoimmune disorder causes unpredictable hair loss on the face, scalp, and other body parts
On the other hand, Europe is also expected to hole second largest market share in 2020. The growth of this region is attributed to several factors, including technological advancements and public and private awareness campaigns. The European Hair Research Society plays an important role in conducting hair loss research and raising awareness about effective treatments to prevent hair loss.
Companies and Competitive Landscape
The androgenetic alopecia treatment market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Vitabiotics, Sun Pharma, Merck & Co, Alpecin, Dr.Reddy’s Laboratories, Cipla, Johnson & Johnson , Kirkland Signature, PhytoAles Group, Lifes2good, Daiichi Sankyo, Theradome, Curallux, LLC, LUTRONIC, Lexington Intl,LLC.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the androgenetic alopecia treatment market globally. For instance, in Dec 2021, Triple Hair Group Inc launched RIZN which is a brand offering medical hair growth products for men. The RIZNTM Hair Density Spray contains natural active ingredients that help to prevent and stop hair loss while also encouraging hair re growth.
Dr Reddy’s Laboratories
Overview: Dr Reddy's Laboratories is an Indian pharmaceutical corporation headquartered in Hyderabad, Telangana. Anji Reddy, who previously worked at the mentor institute Indian Drugs and Pharmaceuticals Limited, founded the company. Dr Reddy's manufactures and sells a wide range of pharmaceuticals in India and worldwide. Over 190 medications are available and 60 active pharmaceutical ingredients (APIs) for drug manufacturing, diagnostic kits, critical care, and biotechnology products..
Product Portfolio:
Finasteride: Finax Tablet is used to treat male hair loss. It promotes hair growth and prevents hair loss in men who have male pattern baldness (gradual thinning of hair with receding hairline or thinning on the top of the head).
Finax tablets should be taken orally, with or without food. The dose and duration of the medication should be taken as prescribed. An overdose may be harmful to your health. It is preferable to take the medication simultaneously every day, and it must be swallowed whole. It may take some time for the medicine to affect the symptoms, so it is critical to take the medication regularly.
