HAIR LOSS TREATMENT MARKET ANALYSIS

Market Challenges And Opportunities

Global Hair Loss Treatment Market – Drivers

• Increasing incidence of alopecia and other disease that leads to hair loss: Increasing prevalence of diseases such as telogen effluvium, androgenetic alopecia, alopecia areata, and others is expected to boost demand for hair loss treatment, thus, propelling the market growth over the forecast period. For instance, on July 23, 2023, according to an article published by the U.S. Department of Health and Human Services, more than 50 Mn men and 30 Mn women are estimated to be affected by androgenetic alopecia in U.S. each year
• Increasing research and development activities by key market players: Key market players are focusing on adoption of research and development activities for treatment of hair loss diseases such as alopecia areata, and this is expected to drive the market growth over the forecast period. For instance, Concert Pharmaceuticals, a subsidiary of Sun Pharmaceutical Industries Pvt. Ltd., a India-based global pharmaceutical company, has its drug candidate CTP-543 is in phase-III of clinical trial. The CTP-543 is been tested for a treatment solution for alopecia areata.

Global Hair Loss Treatment Market: Restraint

• Side effect and safety concerns associated with hair loss treatment drugs: The factor such as side effects and safety concerns associated with alopecia treatments can hamper the market growth. Medications like minoxidil and finasteride that arecommonly used for hair loss can cause scalp irritation or other adverse reactions in certain individuals. These potential side effects raise safety concerns and may discourage individuals from pursuing treatment or continuing the use. As a result, the key market players should focus on research and development so that new products are available with solutions having limited side effects.