Male or female pattern baldness, alopecia areata, telogen effluvium, and anagen effluvium are some of the types of alopecia. Topical alopecia drugs formulation are used in creams, oils, lotions, shampoos, foam forms that are intended to apply on the scalp in alopecia treatment.
Asia Pacific alopecia treatment market is estimated to account for US$ 4,060.9 Mn in terms of value and is expected to reach US$ 6,427.7 Mn by the end of 2027.
Asia Pacific Alopecia Treatment Market: Drivers
Increasing clinical trials in the treatment of alopecia is expected to propel growth of the Asia Pacific alopecia market over the forecast period. For instance, in June 2020, Concert Pharmaceuticals Inc. released new data analyses from its Phase 2 dose-ranging clinical trial of its investigational agent CTP‑543 for the treatment of moderate-to-severe alopecia areata.
Asia Pacific Alopecia Treatment Market: Opportunities
Adoption of stem cell therapy is expected to offer lucrative growth opportunities for players in Asia Pacific alopecia treatment market. For instance, in May 2020, researchers from MEDIPOST Co., Ltd. and Chung-Ang University College of Medicine, South Korea, Primed mesenchymal stromal cells-derived conditioned medium improved androgenetic alopecia through producing an increased hair density, thickness, and growth rate.
Asia Pacific Alopecia Treatment Market: Restraints
Side-effects of hair loss treatments are expected to hinder growth of the market. Scalp irritation, facial hair growth in women, sexual issues such as erectile dysfunction, and thinning of the skin are some of the most common side effects.
Asia Pacific alopecia treatment market was valued at US$ 2,030.5 Mn in 2019 and is forecast to reach a value of US$ 3,214.8 Mn by 2027 at a CAGR of 6.8% between 2020 and 2027. Major factor driving the growth of global Asia Pacific alopecia treatment market during the forecast period include increasing prevalence of alopecia, and people perception towards having good aesthetics.
Alopecia Areata held dominant position in Asia Pacific alopecia treatment market in 2019, accounting for 65.8% share in terms of value, followed by Alopecia Totalis and Alopecia Universalis, respectively. Increasing product launches for the treatment of alopecia, and increasing prevalence of alopecia areata is supporting growth of the segment.
Major players in the market are focused on conducting clinical trials for the treatment of alopecia. For instance, as of June 2020, Pfizer, Inc. has five unique immunokinase inhibitors in late-stage clinical trials for the potential treatment of ten immune-mediated diseases, which includes: PF-06651600— an oral, JAK3/TEC family kinase inhibitor in a phase 3 clinical trial for the potential treatment of alopecia areata.
A recent study discovered an association between androgenetic alopecia and the risk of COVID-19 disease severity. The study, ‘Androgen sensitivity gateway to COVID‐19 disease severity’, published in May 2020, in Drug Development Research - Wiley Online Library, reported that antiandrogen therapy could be used as a treatment for COVID‐19 patients.
Industrial Chemicals (Notification and Assessment) Act 1989. This Act is administered by the National Industrial Chemicals Notification and Assessment Scheme (NICNAS). The Act legally underpins the Cosmetics Standard 2007 and this Standard is supported by the NICNAS Cosmetic Guidelines 2007.
Asia Pacific Alopecia Treatment Market: Competitive Landscape
Major players operating in Asia Pacific alopecia 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., Shiseido Co., Ltd., Concert Pharmaceuticals, Inc., Follica, Inc., REVIAN Inc., Incyte, Eli Lilly and Company, Histogen, Inc., and Zhangguang 101 Science & Technology Co., Ltd.
Asia Pacific Alopecia Treatment Market: Key Developments
January 2020: Concert Pharmaceuticals, Inc. received patent from the U.S. Patent and Trademark Office for its investigational treatment for alopecia areata
January 2020: REVIAN Inc. announced that final data from a randomized, double-blind study of the REVIAN RED hair growth system was presented at the 2020 Winter Clinical Dermatology Conference - Hawaii.