Drug development for hair loss therapy is projected to drive market expansion over the predicted period. The adverse effects of hair loss therapy are projected to stifle market expansion. Leading market players are focusing on the research and development of innovative products for hair loss treatment, which is projected to drive market growth. The market's key players are focused on discovering and developing innovative medications for hair loss therapy. For example, in June 2019, Aclaris Therapeutics, Inc., a physician-led biopharmaceutical company focused on immuno-inflammatory and dermatological diseases, announced positive results from its Phase II, open-label clinical trial of ATI-502 (AGA-201), an immuno-inflammatory and dermatological disease treatment, a topical Janus Kinase (JAK) 1/3 inhibitor under research. This medication is being evaluated on people suffering from androgenetic alopecia (AGA).
According to Coherent Market Insights, 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).
Prominent Players in the Hair Loss Treatment Industry:
1. Viviscal
On February 2021, Viviscal™ Launches Hair Therapy Line of Mixable Powders Designed to Nourish Hair From The Inside Out. Distributor of hair growth supplements created to prevent hair loss and nourish hair. The company's hair growth supplements contains drug free supplement, supported by seven clinical trials, enabling customers to nourish hair from within, prepare the scalp and have thicker, fuller and healthier hair. Founded in 2008, headquartered in Dublin, Ireland.
2. Cipla Limited
The company's product portfolio spans complex generics as well as drugs in the respiratory, anti-retroviral, urology, cardiology, anti-infective, CNS, and various other key therapeutic segments. Founded in 1935, headquartered in Mumbai, India.
3. Aclaris Therapeutics, Inc.
Aclaris Therapeutics, Inc. was incorporated in 2012 and is headquartered in Wayne, Pennsylvania. In June 2019, Aclaris Therapeutics, Inc., a physician-led biopharmaceutical company focused on immuno-inflammatory and dermatological diseases, announced the positive results from its Phase II, an open-label clinical trial of ATI-502 (AGA-201), an investigational topical Janus Kinase (JAK) 1/3 inhibitor. This drug is being tested for patients with androgenetic alopecia (AGA).
4. Johnson and Johnson Services, Inc.
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company was founded in 1886 and is based in New Brunswick, New Jersey. On September 2017, Johnson & Johnson Consumer Inc. Debuts New Scientific Data at the European Academy of Dermatology and Venerology Annual Meeting.
5. Lexington International LLC
Based in Boca Raton, Lexington International is a pioneer in the development of advanced hair loss treatments and laser hair growth products. Hairmax Laser devices are the only laser phototherapy medical devices with seven FDA clearances for the treatment of hereditary hair loss in both men and women and are the only devices on the market with clinical study results published in five peer-reviewed medical journals. On APRIL 14, 2022, Hairmax Laser Hair Growth Cap Wins Innovation Award by New You Magazine. The company was founded in 1997.
6. Dr. Reddy’s Laboratories
Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. Dr. Reddy's Laboratories Limited was incorporated in 1984 and is headquartered in Hyderabad, India. On September 2021, Dr. Reddy's Laboratories announced on Wednesday the launch of the prescription drug Minoxidil topical solution USP 2% and 5% for the treatment of female pattern hair loss.
7. Ranbaxy Laboratories Ltd
Ranbaxy Laboratories Limited, a pharmaceutical company, produces a range of generic medicines. Ranbaxy Laboratories Limited was founded in 1961. Headquartered Haryana, India. Sun Pharmaceutical Industries Limited, India's largest drugmaker, acquired Ranbaxy in 2014.
8. HCell Inc.
On JANUARY 15, 2018, HCell Inc., a biotechnology company based in Austin, Texas, focusing on Alopecia Areata in the Pediatric Population, announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation (ODD) to HC017AA for the treatment of pediatric patients with Alopecia Areata, a devastating hair loss disease. The company was founded in 2015.
9. Follica, Inc.
The company was founded in 1999, headquartered in New York, U.S. 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.
*Definition- Hair loss is induced by systemic androgens as well as hereditary factors. It can happen to either gender.
