ASIA PACIFIC ALOPECIA TREATMENT MARKET ANALYSIS

Asia Pacific Alopecia Treatment Market is estimated to be valued at US$ 2,477.0 million in 2023 and is expected to exhibit a CAGR of 6.8% during the forecast period (2023-2030).

Analysts’ views on Asia Pacific Alopecia Treatment Market:

Alopecia areata is a condition that occurs when the immune system attacks the hair follicle and causes hair loss. Hair follicles are structures in the skin that form hair. Although hair can fall from any part of the body, alopecia usually affects the head and face. The hair usually falls out in small round spots about the size of a quarter, but in some cases the hair loss is more extensive. Most patients are healthy and have no other symptoms.  The course of alopecia areata varies from person to person. Some people experience hair loss throughout their lives, while others experience only one episode. Recovery is also unpredictable, with some people's hair growing back and others not. There is no cure for alopecia, but there are treatments to help the hair grow faster. There are also remedies to help people deal with hair loss.

Figure 1. Asia Pacific Alopecia Treatment Market Share (%), By Treatment Type, 2023

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Asia Pacific Alopecia Treatment Market– Drivers

Increasing Research and Development Activities in Alopecia Treatment

Increasing Research and development by key market players is expected to drive growth of Asia Pacific alopecia treatment market over the forecast period.  For instance, Aeterna Health on February 28, 2023 stated hair regrowth treatment combines traditional and cutting-edge technology, mainly adipose-derived cells, to provide the best results for our patients. The treatments have the ability to self-renew and differentiate into various types of cells, making them a potential therapy for promoting hair growth. Cell therapy involves extracting cells from a patient’s adipose tissue, then culturing these cells in a laboratory before injecting them into the patient’s scalp.These cells can stimulate hair follicle growth, promote hair growth cycles, and improve hair quality and density. This treatment method is more effective than traditional drug therapies as it can promote scalp blood circulation, increase hair follicle nutrient supply, and thereby promote healthy hair growth.

Figure 2. Asia Pacific Alopecia Treatment Market Share (%), By Country, 2023

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Asia Pacific Alopecia Treatment Market- Regional Analysis

Among region, China is estimated to hold a dominant position in the Asia Pacific alopecia treatment market over the forecast period, owing to increasing research. For instance, on June 2, 2023, an article published by the Elsevier, explained Composite double-layer micro-needle loaded with traditional Chinese medicine for the treatment of androgenic alopecia. As a new drug delivery method, microneedles (MN) can effectively break through the stratum corneum, deliver drugs more efficiently and achieve better treatment effects.

Asia Pacific Alopecia Treatment Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of drugs from one place to another.

COVID 19 had negative impact on the Asia Pacific alopecia treatment market.  For instance, an article published by National Center for Biotechnology Information on May 8, 2022 explained 57 patients participated in which the majority (84.2%) of the participants had mild anxiety assessed by corona disease anxiety scale. Two patients had got infected with COVID-19. Twenty-one participants experienced hair loss progression. Hair loss progression correlated with drug dose reduction although it did not influence by the level of anxiety evaluated by the  corona disease anxiety scale anxiety perceived by severe Alopecia Areata patients about COVID-19 is mild; however, many experience hair loss progressions owing to their drug dose reduction.

Asia Pacific Alopecia Treatment Market Segmentation:

Asia Pacific alopecia treatment market report is segmented into Treatment Type, by Disease Indications, By End User and by Region.

Based on Treatment Type, the Asia Pacific alopecia treatment market is segmented into Topical Drugs, Oral Drugs, Injectables, Hair Transplant Services, and Low-Level Laser Therapy. Out of which, Oral Drugs segment is expected to dominate the market due to increasing launch of medicines.

Based on Disease Indication, the Asia Pacific alopecia treatment market is segmented into Alopecia Areata, Alopecia Totalis, and Alopecia Universalis. Among these, Alopecia Areata segment is expected to dominate the market over the forecast period, owing to increasing research activities in companies.

Based on End User, the Asia Pacific alopecia treatment market is segmented into Hospitals, Dermatologic and Trichology Clinics, Home care settings, Aesthetic Clinics. Among these, Dermatologic and Trichology Clinics segment is expected to dominate the market due to increase in the treatment and advanced technologies in clinics.

Based on Country, the Asia Pacific alopecia treatment market is segmented into China, Japan, Australia, New Zealand, Malaysia, India, Singapore, Vietnam, Philippines, and Rest of APAC. Among these, China is expected to dominate the market over forecast period due to increased research and development activities.

Among all segmentation, the treatment type segment has the highest potential due to increasing  product approvals by the regulatory authorities. For instance, on June 23, 2023, Pfizer Inc., a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) has approved LITFULO (ritlecitinib), a once-daily oral treatment, for individuals 12 years of age and older with severe alopecia areata. The approved recommended dose for LITFULO is 50 mg. It is the first and only treatment approved by the FDA for adolescents (12+) with severe alopecia areata.

Asia Pacific Alopecia Treatment Market Cross Sectional Analysis:

Oral Drugs segment is expected to dominate the Asia Pacific alopecia treatment market owing to the increasing inorganic strategies such as acquisitions by key market players. For instance, On November 30, 2022 Autralia Alopecia Areata Foundation stated The US Food and Drug Administration (FDA) approved a JAK inhibitor on 14 June 2022, marking the first FDA-approved treatment for the condition. The drug called Baricitinib for the treatment of alopecia areata, In addition, in September 2022 the FDA accepted a New Drug Application for a JAK inhibitor called ‘Ritlecitinib’ for adults and adolescents 12 years and older with alopecia areata.

Asia Pacific Alopecia Treatment Market: Key Developments

On March 18, 2023, Concert Pharmaceuticals, which was acquired by Sun Pharmaceutical Industries Limited, pharmaceutical company in India, announced that it will report data from its Phase 3 clinical trial THRIVE-AA2. The presentation will highlight the results of the THRIVE-AA2 study, which evaluated the oral investigational drug deruxolitinib in adult patients with moderate to severe alopecia areata.

On June 13, 2022, Eli Lilly and Company and Incyte, Delaware-based drug discovery and development company, announced that the U.S. Food and Drug Administration (FDA) has approved OLUMIANT (baricitinib), a once-daily pill, as the first systemic drug for the treatment of alopecia areata (AA) in adults, available as 4 mg, 2 mg and 1 mg tablets. The recommended dose of OLUMIANT is 2 mg/day, which can be increased to 4 mg/day if the response is inadequate in patients with near-complete or complete scalp alopecia with or without significant hair loss of eyelashes or eyebrows, consider treatment with 4 mg daily.

Asia Pacific Alopecia Treatment Market: Restraints

Side Effects of Alopecia Drugs

The side effects of alopecia drugs is expected to hamper the Asia Pacific alopecia treatment market growth. For instance, according to an article published by U.S Food and Drug Administration, on June 14, 2022, explained FDA-approved alopecia drug olumiant has side effects and have to conduct liver and kidney function tests apart from ruling out latent tuberculosis. Olumiant is an inhibitor that blocks the activity of one or more specific enzyme families, thus disrupting a pathway that leads to inflammation. Eli Lilly's drug baricitinib regrows hair by preventing the immune system from attacking the hair follicle. It treats the whole body, not a specific part. The efficacy and safety of the drug were tested in two randomized, placebo-controlled, double-blind studies in patients with at least 50 percent scalp hair loss.

To counterbalance this restraint, a robust protocol should be introduce to develop drugs with less side effects.

Asia Pacific Alopecia Treatment Market- Key Players

Major players operating in the Asia Pacific Alopecia Treatment Market include Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Johnson & Johnson, Inc., Pfizer, Inc., Dr. Reddy’s Laboratories Ltd, Cipla Ltd, Cellmid Ltd., The Himalaya Drug Company, Taisho Pharmaceutical Holdings Co. Ltd., and Shiseido Co., Ltd.

*Definition:  Alopecia areata is a common autoimmune disease that causes unpredictable hair loss. Alopecia areata is a common autoimmune disease that causes hair loss or sometimes it can lead to baldness. Scarring alopecia is a condition characterized by hair loss with scarring. Hair loss is divided into allal alopecia, androgenetic alopecia, total alopecia and cicatricial alopecia. In this case, the body attacks its anagen hair follicles and prevents or stops hair growth. Alopecia is a condition of partial or complete hair loss in an individual. Alopecia may begin with hair loss on the scalp, either in patches or on the entire head. The onset of this disease is often random, sudden, and recurrent.