30 April 2020
Visiongain has launched a new pharma report Alopecia Market Report 2020-2030: Forecasts by Disease Type (Alopecia Areata, Cicatricial Alopecia, Traction Alopecia, Alopecia Totalis, Androgenetic Alopecia, Alopecia Universalis, Others), End Use (Dermatology Clinics, Homecare Setting), Sales Channel (Prescription, OTC), Gender (Male, Female), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global alopecia market is anticipated to grow at a lucrative CAGR of over xxx% and anticipated to reach USD 2.5 xxx by 2020 owing to the rising prevalence of androgenetic alopecia and alopecia areata diseases.
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Alopecia areata is a common autoimmune skin disease that causes hair loss to the scalp, face, and sometimes to other body areas. Indeed, it affects as many as 7 million people in the U.S. with a 2.1 percent lifetime risk. Alopecia areata can develop in people of all ages, both sexes, and all ethnic groups. The high cost of medicinal products is expected to restrict the global market for alopecia treatment. The likely side-effects, reactions, and allergies caused by alopecia treatments will further impede the market growth. Some of the side effects associated with the treatment are projected to challenge market growth such as reduced libido, high blood pressure, increased heart rate, & erectile dysfunction (ED) among others. Nevertheless, advancement in the development of novel therapeutic drugs is anticipated to fuel market growth.
The growing sedentary lifestyle, unhealthy eating habits, coupled with rising stress level are leading to alopecia. Thus, due to a surge in alopecia prevalence, the market for alopecia treatment is expected to witness significant growth in the coming years. In developed nations, the number of people seeking treatment for alopecia is extremely high. However, growing healthcare expenditure has also spurred the demand for alopecia treatment in emerging economies such as India, and China.
North America holds the majority of market share followed by Europe and will continue to dominate in the future as a result of several research projects in the region, coupled with funding for research institutes from the government. Also, the market will continue to be driven by the existence of the target population and increased R&D investment by important business organizations. However, reimbursements for alopecia is projected to hamper the market growth.
Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to rising disposable income coupled with growing healthcare infrastructure across the markets such as India and China. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost the Alopecia Market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the Alopecia Market.
For instance, the recent introduction of Janus kinase (JAK) inhibitors into the management of alopecia areata constitute landmark progress in the treatment of this common autoimmune disease. Visiongain anticipates that the technological advancements across the global alopecia market are anticipated to offer lucrative growth opportunities for the market players.
The comprehensive market report features companies such as Capillus, Cipla, Inc., Cirrus Hair Centers, Follica, Inc., Lexington Intl., LLC, Merck & Co., Inc, Johnson & Johnson Services, Inc., Sun Pharmaceuticals Industries Ltd., Transitions Hair, Vita-Cos-Med Klett-Loch GmbH, Dr. Reddy’s Laboratories, Kirkland Signature, Phyto Ales Group, Lifes2good, Regaine, Ranbaxy Laboratories Ltd. among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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