Alopecia Market To Hit USD 17.3 Billion By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Alopecia industry is projected to witness a CAGR of 8.1% during the period 2024-2032. This growth can be attributed to the growing awareness about alopecia treatment options.

Selbyville, Delaware, Oct. 17, 2024 (GLOBE NEWSWIRE) --

Alopecia market size was valued at approximately USD 8.7 billion in 2023 and is anticipated to grow at a CAGR of 8.1% between 2024 and 2032. The market expansion is primarily driven by the rising prevalence of alopecia and increased awareness of available treatment options.

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Various factors, such as genetic predispositions, hormonal changes, autoimmune conditions, and environmental stressors, contribute to the growing number of alopecia cases. Additionally, lifestyle factors like poor diet and stress further aggravate hair loss, pushing more individuals to seek effective treatments.

With millions affected by alopecia globally, the demand for both pharmaceutical treatments and advanced hair restoration technologies is on the rise. This growing patient base is propelling market growth, as more people explore treatment options to combat hair loss.

In terms of disease type, the alopecia market is segmented into androgenetic alopecia, alopecia areata, and other forms of hair loss. Androgenetic alopecia, commonly known as pattern baldness, accounted for the largest share in 2023, generating around USD 4.8 billion in revenue. Affecting a significant percentage of men, particularly as they age, androgenetic alopecia remains a dominant driver of market demand for treatments.

When categorized by treatment type, pharmaceuticals took the lead in 2023, claiming 48.8% of the total alopecia market share. Widely recognized for their effectiveness, pharmaceutical treatments-both topical and oral-are often the first choice for treating alopecia due to their non-invasive nature and proven ability to stimulate hair regrowth. Their accessibility and ease of use make them the most preferred option among patients.

North America alopecia market, which generated USD 3.2 billion in revenue in 2023, is expected to grow at a 7.7% CAGR through 2032. The high incidence of alopecia in the region, particularly androgenetic alopecia, is driving the demand for innovative and effective treatments. With a large portion of the population affected by hair loss, North America continues to be a key market contributing to overall industry growth.

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Major players in alopecia market include Apira Science, Inc. (iGROW Laser), Aurobindo Pharma, Bosley – Hair Restoration & Transplant, Cipla, Curallux, LLC, Dr. Reddy's Laboratories Ltd., Freedom Laser Therapy, Inc. (iRESTORE Hair Growth System), Johnson & Johnson Services, Inc., Lexington International, LLC, Merck KGaA, Pfizer Inc., REVIAN, Inc., Smart Graft, Sun Pharmaceuticals Industries Ltd., and Theradome Inc. among others.

Partial Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Market scope & definition

1.2 Research design

1.2.1 Research approach

1.2.2 Data collection methods

1.3 Base estimates & calculations

1.3.1 Base year calculation

1.3.2 Key trends for market estimation

1.4 Forecast model

1.5 Primary research and validation

1.5.1 Primary sources

1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 360-degree synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis

3.2 Industry impact forces

3.2.1 Growth drivers

3.2.1.1 Increasing prevalence of alopecia

3.2.1.2 Technological advancements in treatment regimes

3.2.1.3 Growing awareness about alopecia treatment options

3.2.1.4 Rising demand for drugs and treatments

3.2.2 Industry pitfalls & challenges

3.2.2.1 Regulatory barriers in treatment access

3.3 Growth potential analysis

3.4 Regulatory landscape

3.5 Technological landscape

3.6 Consumer preference

3.7 Porter's analysis

3.8 PESTEL analysis

3.9 Future market trends

3.10 Gap analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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