ALOPECIA TREATMENT MARKET ANALYSIS

Alopecia Treatment MarketSize and Trends

Global alopecia treatment market is estimated to be valued at US$ 9.65 Bn in 2023, and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030).

Global alopecia treatment market is expected to experience steady growth due to the rising prevalence of alopecia that includes conditions like alopecia areata, androgenic alopecia, traction alopecia and others. The market also is also influenced by an increasing focus on hair care.

Global Alopecia Treatment Market - Drivers

• Increasing product approvals for the treatment of alopecia: The increasing product approvals for the treatment of alopecia is expected to propel growth of the global alopecia treatment market over the forecast period. For instance, in June 2023, Pfizer Inc., a multinational biopharmaceutical corporation, announced that the U.S. Food and Drug Administration (FDA) had approved LITFULO (ritlecitinib), a once-daily oral treatment, for individuals 12 years of age and older with severe alopecia areata. The approved recommended dose for LITFULO is 50 mg. It is the first and only treatment approved by the U.S. FDA for adolescents (12+) with severe alopecia areata.
• Increasing research and development activities for the treatment of alopecia by market players: Increasing research and development activities for the treatment of alopecia by market players is expected to drive the global alopecia treatment market growth over the forecast period. For instance, in March 2023, OliX Pharmaceuticals, Inc., a leading developer of RNAi therapeutics, announced that it had received approval from the Human Research Ethics Committee (HREC) in Australia to initiate a Phase 1 clinical trial of OLX72021, a treatment for androgenic alopecia, also known as male-pattern baldness.        

Figure 2. Global Alopecia Treatment Market Share (%), By Region, 2023

Global Alopecia Treatment Market: Key Trends

• Increasing fund raising for alopecia treatment: Increasing fund raising for alopecia treatment in the market is expected to drive the growth of the global alopecia treatment market over the forecast period. For instance, in July 2021, Stemson Therapeutics, a U.S.-based pre-clinical stage cell therapy company, closed US$ 15 Mn Series A financing. The company intends to use the funds to advance development of its proprietary therapeutic solution to cure hair loss. The iPSC-derived cells are used to grow de novo hair follicles, offering a new supply of hair to treat people suffering from various forms of alopecia