Alopecia or hair loss has affected people of all ages for many years now. Some of the common forms of alopecia are androgenic alopecia, alopecia areata, telogen effluvium etc. Conventionally, treatment options for alopecia were limited to medications, hair transplants or even wearing wigs. However, with advancement in medical science, non-invasive and minimally invasive treatment options are now available for alopecia. Low-level laser therapy, platelet rich plasma therapy, microneedling etc. help stimulate hair follicles and promote hair growth without any surgery or side effects. The growing demand for such non or minimally-invasive hair loss treatments is driving the alopecia treatment market.
The global Alopecia Treatment Market is estimated to be valued at US$ 9.65 Bn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the alopecia treatment market is the emerging therapies based on stem cell technology. Research studies show that hair follicle stem cells play a pivotal role in hair growth. When these stem cells are activated, they signal surrounding cells and stimulate new hair growth. Several pharmaceutical companies are conducting clinical trials to develop topical drugs and injections containing activated hair follicle stem cells. If approved, these stem cell therapies can potentially revolutionize alopecia treatment.
Porter’s Analysis
Threat of new entrants: Low as the alopecia treatment market requires high R&D investments and regulations.
Bargaining power of buyers: Moderate as buyers have several treatment options to choose from.
Bargaining power of suppliers: Low due to presence of many supplier firms in the industry.
Threat of new substitutes: Low as there are limited treatment substitutes available for alopecia.
Competitive rivalry: High as major players compete on basis of pricing, innovation, and service.
Key Takeaways
The Global Alopecia Treatment Market Growth is expected to witness high. The global Alopecia Treatment Market is estimated to be valued at US$ 9.65 Bn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030.
The North America region currently dominates the alopecia treatment market owing to high disposable income, increased awareness about treatment options, and presence of major market players.
Key players related content comprises Key players related content Key players operating in the alopecia treatment market are Stemson, Cipla, Viviscal, Dr. Reddy’s Laboratories, Ranbaxy Laboratories, ApolloEndosurgery.
Stemson has a strong foothold in the alopecia treatment market with its established portfolio of drugs to treat hair loss conditions. The company focuses on innovating new products through extensive R&D investments. Cipla offers a wide range of alopecia drugs and supports hair transplant procedures to reinforce its market position. Dr. Reddy’s Laboratories manufactures high quality generic drugs to treat alopecia at affordable prices.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it