Alopecia is a common autoimmune disorder that causes hair loss all over the body, most notably on the scalp. It usually begins with one or smaller round patches of hair loss on the scalp that is known as alopecia areata, which is the most common type of alopecia. Moreover, alopecia areata then progresses to total scalp hair loss (alopecia totalis) or total body hair loss (alopecia universalis). The majority of the time, hair falls out in small patches the size of a quarter. Most people's hair loss is limited to a few patches, though it can be more severe in some cases.
Global Alopecia Treatment Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 258 million cases and 5.16 million deaths due to coronavirus (COVID-19) were reported till November 24, 2021, across the globe.
Impact of COVID-19 on Demand and Supply of Alopecia Treatment
The COVID-19 pandemic and lockdown in various countries across the globe has impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products. In 2020, the COVID-19 pandemic disrupted health-care delivery around the world, including delays in cosmetic or hair care diagnosis and treatment.
Thus, impact of the Coronavirus (COVID-19) pandemic is expected to limit growth of the global alopecia treatment market during the forecast period. For instance, according to an article published in the journal of Clinical and Experimental Dermatology, on December 25, 2020, there was drop in dermatology and hair care outpatient services and appointments in England in 2020 due to COVID-19 pandemic. It was reported that during the COVID-19 lockdown, total dermatology appointments fell to 58%, first attendances to 43%, follow-ups to 51%, and day cases to 37% of pre-lockdown levels. Total appointments after the lockdown remained low, accounting for only 75% of pre-lockdown values. Between April and October of 2020, there were 484,415 (17%) fewer total appointments than during the same period in 2019.
The global alopecia treatment market is estimated to be valued at US$ 8,716.1 Mn in 2021, and is expected to exhibit a CAGR of 5.3% over the forecast period (2021-2028).
Figure 1: Global Alopecia Treatment Market Share (%) Analysis, By Drug Class, 2021
The increasing cases of alopecia areata is expected to drive growth of the market over the forecast period.
The increasing prevalence of alopecia areata is expected to fuel growth of the global alopecia treatment market over the forecast period. For instance, according to the National Institute for Health and Care Excellence (NICE), U.K., in 2020, the estimated prevalence of alopecia in the U.K. was 15 per 10,000 people. It is known to affect people of all ages, but it is most common in childhood and adolescence. Peak incidence was observed between the ages of 15 and 29. Before the age of 21, 50-60% of men experience their first bald patch.
Research and Development activities in Alopecia treatment
Increasing number of clinical trials for the treatment of alopecia is expected to aid in the growth of the global alopecia treatment market over the forecast period. For instance, on December 02, 2020, researchers from University of Brazil conducted a randomized, placebo-controlled trial to assess the efficacy and safety of 0.5% minoxidil intradermal injections for the treatment of female androgenetic alopecia. The findings demonstrated that intradermal injections of minoxidil were more effective than placebo in the treatment of female androgenetic alopecia while also having a favorable safety profile.
Alopecia Treatment Market Report Coverage
||Market Size in 2021:
||US$ 8,716.1 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 12,508.5 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Disease Type: Alopecia Areata, Androgenic Alopecia, Traction Alopecia, Others
- By Drug Class: Corticosteroids, 5 AR Inhibitors, Vasodilators, Others
- By Route of Administration: Topical, Oral, Injectable
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Aclaris Therapeutics, Inc., Fagron, Follicum AB, Cipla Inc., Arcutis Biotherapeutics, Dr. Reddy’s Laboratories Ltd., Himalaya Wellness Company, Eli Lilly and Company, Concert Pharmaceuticals Inc., and Teva Pharmaceutical Industries Ltd.
- Increasing prevalence of alopecia areata
- Increasing research and development activities
- Increasing product launches or approvals
|Restraints & Challenges:
- Limitations associated with alopecia treatment
Restraint- Global Alopecia Treatment Market
The increasing limitations associated with certain treatments of alopecia is expected to be a major factor hampering growth of the global alopecia treatment market. For instance, according to a series of reports from the U.S. Food and Drug Administration’s (FDA’s) Patient-Focused Drug Development Initiative published in September 2017, which include the patient perspectives on treatments for alopecia areata. Many of the patients/participants who reported using corticosteroids as a treatment for alopecia said corticosteroids were frequently ineffective and had significant side effects. With these treatments, some participants reported temporary success in slowing or stopping the rate of hair loss. However, many of the participants had little or no response to corticosteroid use. Hence, corticosteroids were deemed ‘ineffective’ and ‘not a viable treatment option’ by the participants.
Global Alopecia Treatment Market – Regional Analysis
On the basis of region, global alopecia treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to be the most lucrative region in the global alopecia treatment market, owing to increasing product launches and approvals by market players based in this region. For instance, on March 16, 2020, Eli Lilly and Company, in collaboration with Incyte Corporation, announced that baricitinib has been granted Breakthrough Therapy designation by the U.S. Food and Drug Administration (FDA) for the treatment of alopecia areata (AA), an autoimmune disorder that can cause unpredictable hair loss on the scalp, face, and other areas of the body.
Moreover, increasing research and development activities related to alopecia treatment are expected to drive the growth of the market in the Europe region. For instance, on September 10, 2021, Cassiopea SpA, an Italy-based specialty pharmaceutical company developing and preparing to commercialize prescription drugs with novel mechanisms of action (MOA) to address long-standing and critical dermatological conditions, announced the topline results of its phase II Proof of Concept (POC) trial examining clascoterone solution for the treatment of androgenetic alopecia (AGA) in females.
Figure 2: Global Alopecia Treatment Market Value (US$ Mn), by Region, 2021
Global Alopecia Treatment Market – Competitive Landscape
Major players operating in the global alopecia treatment market include Aclaris Therapeutics, Inc., Fagron, Follicum AB, Cipla Inc., Arcutis Biotherapeutics, Dr. Reddy’s Laboratories Ltd., Himalaya Wellness Company, Eli Lilly and Company, Concert Pharmaceuticals Inc., and Teva Pharmaceutical Industries Ltd.