Global Androgenetic Alopecia Treatment Market, by Drug Type (Topical Agents, 5 AR Inhibitors, and Others), by Route of Administration (Oral and Topical), by Gender (Male and Female), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,607.47 million in 2020 and is expected to exhibit a CAGR of 5.2% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Research & development by market players to augment the market growth.
Major players in the market are focused on research and development of novel products, which is expected to boost the market growth. For instance, on September 10, 2020, Histogen Inc., a clinical-stage therapeutics company focused on developing potential first-in-class restorative therapeutics, announced the completion of dosing for week 6 treatment of its Phase 1b/2a clinical trial of HST-001. This drug is designed to assess the safety, tolerability and indicators of efficacy of HST-001 for the treatment of androgenic alopecia in men.
Global Androgenetic 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 has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in over 64.9 million infected individuals worldwide as of December 3, 2020.
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channel, and by its financial impact on firms and financial markets. Due to lockdowns, several countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of such drugs from one place to another.
Moreover the COVID-19 pandemic has impacted the supply of raw materials and potent compounds which are used for manufacturing drugs of androgenetic alopecia and this is expected to hamper the market growth in the near future.
Browse 40 Market Data Tables and 35 Figures spread through 195 Pages and in-depth TOC on “Androgenetic Alopecia Treatment Market – by Drug Type (Topical Agents, 5 AR Inhibitors, and Others), by Route of Administration (Oral and Topical), by Gender (Male and Female), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027”
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Key players in the market are focused on researching and developing novel drugs for androgenetic alopecia treatment. For instance, in June 2019, Aclaris Therapeutics, Inc., a physician-led biopharmaceutical company focused on immuno-inflammatory and dermatological diseases, announced the positive results from a Phase II, an open-label clinical trial of ATI-502 (AGA-201), an investigational topical Janus Kinase (JAK) 1/3 inhibitor. This drug is being tested for patients with androgenetic alopecia (AGA).
Key Takeaways of the Global Androgenetic Alopecia Treatment Market:
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