HAIR LOSS TREATMENT MARKET ANALYSIS,2020 - 2027


Posted March 5, 2021 by akshay925

Hair loss is caused due to systemic androgen and genetic factors. It may occur in both genders. The increasing incidence of alopecia or hair loss is expected to boost the market growth

 
Hair loss is caused due to systemic androgen and genetic factors. It may occur in both genders. The increasing incidence of alopecia or hair loss is expected to boost the market growth. For instance, according to the National Center for Biotechnology Information (NCBI), in August 2015, global prevalence of severe androgenetic alopecia (AGA) was 15.33% and varied significantly by geographical regions. The same source states that risk of having severe androgenetic alopecia (AGA) increases by 1.092 for per year in the age group of 30 and 40.
The global hair loss treatment market is estimated to be valued at US$ 3,592.3 million in 2020 and is expected to exhibit a CAGR of 6.2% during the forecast period (2020-2027).

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Product development and ongoing clinical trials are expected to propel growth of the global hair loss treatment market.

Development of drugs for hair loss treatment is expected to boost the market growth over the forecast period. For instance, Cairo University has initiated clinical trial of topical Cetirizine for the treatment of androgenetic alopecia in females. The trial is in Phase II/III evaluating the efficacy and tolerability of topical cetirizine in female patients with androgenetic alopecia (AGA). This interventional trial started in February 2020 and the study expected completed in December 2021.

However, side effects of hair loss treatment is expected to hinder the market growth. For instance, according to the US Pharmacist, a clinically-focused pharmacy publication, published an article- Treatment Options for Androgenetic Alopecia, in 2018, stated that medication used for the treatment of androgenetic alopecia exhibit several side effects. For instance, topical Minoxidil can cause local erythema and pruritus and Finasteride can cause dizziness, orthostatic hypotension, and others.


Research and development for the treatment of androgenetic alopecia in North America is expected to boost the market growth.

North America is expected to hold dominant position in the global hair loss treatment market, owing to research and development of treatments for androgenetic alopecia in the region. For instance, on June 4, 2020, Follica, Inc., a biotechnology company developing a regenerative platform designed to treat androgenetic alopecia, and other related conditions, announced positive feedback from the U.S. Food and Drug Administration (FDA) for its FOL-004 Phase II released in December 2019. The company advanced its lead program, FOL-004 into Phase III development in 2020, following a successful safety and efficacy optimization study for the treatment of hair loss in male androgenetic alopecia.

Global Hair Loss Treatment Market – Impact of Coronavirus (COVID-19) Pandemic

Nationwide lockdowns resulting from COVID-19 in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare is one such sector, which has been impacted significantly by the COVID-19 pandemic.

The lockdown in various countries due to the pandemic has placed an economic burden on the healthcare sector. Moreover, the coronavirus pandemic has hampered the development, production, and supply of drugs and other healthcare products and affected growth of healthcare businesses of various companies across the globe.

As a result, the impact of the COVID-19 pandemic is also expected to limit growth of the global hair loss treatment market during the forecast period.

Key Players

Major players operating in the global hair loss treatment market include Viviscal, Cipla Limited, Aclaris Therapeutics, Inc., Merck & Co., Inc., Daiichi-Sankyo Co., Ltd., Johnson and Johnson Services, Inc., Lexington International LLC, Vita-Cos-Med Klett-Loch GmbH, PureTech, Vitabiotics, Dr. Reddy’s Laboratories, Ranbaxy Laboratories Ltd, HCell Inc., Follica, Inc., Aurobindo Pharma, and Zydus Pharmaceuticals, Inc. (Zydus Cadila), among others.


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Last Updated March 5, 2021