Global Alopecia Treatment Market, by Disease Type (Alopecia Areata, Androgenic Alopecia, Traction Alopecia, and Others), by Drug Class (Corticosteroids, 5 AR Inhibitors, Vasodilators, and Others), by Route of Administration (Topical, Oral, and Injectable) , by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 8,716.1 million in 2021, and is expected to exhibit a CAGR of 5.3% during the forecast period (2021-2028).
The increasing number of product launches or approvals is expected to boost growth of the global alopecia treatment market. For instance, in July 2021, Concert Pharmaceuticals, Inc., a clinical stage biopharmaceutical company announced that the U.S. Food and Drugs Administration (FDA) granted Breakthrough Therapy Designation to CTP-543, the company's oral Janus kinase inhibitor, for the treatment of adult patients with moderate-to-severe alopecia areata.
Moreover, rising number of awareness programs on alopecia by philanthropic organizations is expected to propel growth of the global alopecia treatment market during the forecast period. For instance, on September 06, 2018, the National Alopecia Areata Foundation sponsored a month-long awareness campaign in local communities across the U.S. to raise awareness and understanding of the disease. In 2018, Hair Club, the leading provider of total hair solutions in North America, decided to share information about alopecia areata by holding a family-friendly awareness event in various regions across U.S. and by providing customized hair restoration options available for individuals living with this condition in that region.
Global Alopecia Treatment market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the global alopecia treatment market. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. Thus, impact of the Coronavirus (COVID-19) pandemic is expected to limit the growth of the global alopecia treatment market during the forecast period, owing to the deferring and cancellations of aesthetic or cosmetic surgeries. For instance, according to news article published on October 12, 2020, in website of Penningtons Manches Cooper LLP, a U.K.-based law firm, many healthcare professionals who perform elective or cosmetic surgery have been unable to provide their usual level of service, either because they have been focused on frontline work or because hospitals have postponed all but the most critical inpatient appointments in order to slow the spread of the virus during the COVID-19 pandemic.
Browse 35 Market Data Tables and 33 Figures spread through 193 Pages and in-depth TOC on Global Alopecia Treatment Market, 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), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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