Global Alopecia Treatment Market, By Drug Class (Corticosteroids, 5 AR Inhibitors, Vasodilators and Others), By Disease Type (Alopecia Areata, Androgenic Alopecia, Traction Alopecia and Others), By Route of Administration (Topical, Oral, and Injectable ), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Increasing awareness for the treatment of alopecia is expecetd to drive the global alopecia treatment market growth. For instance, in September 2023, National Alopecia Areata Foundation (NAAF) serves the community of people affected by an autoimmune skin disease called alopecia areata that results in hair loss and emotional pain, will orchestrate a nationwide (U.S.) fund raising initiative, spanning from coast to coast, dedicated to generating resources, bolstering community support, fostering public awareness, and empowering individuals affected by alopecia areata. This year (2023), the foundation will centrally organize a walk event at Lake Merced in San Francisco, CA, in commemoration of the community where NAAF was originally established over four decades ago. Concurrently, we will facilitate independent "Walk Where You Are" teams in various localities across the nation, offering an inclusive opportunity for individuals from all regions to actively engage with the cause of alopecia areata.
Global Alopecia Treatment Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. The virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of things from one place to another.
Clinical trials and research efforts across various medical fields, including alopecia, were disrupted due to the pandemic. This could impact the development of new and improved treatments for alopecia. Thus, COVID 19 have a negative impact on the global alopecia treatment market.
Global Alopecia Treatment Market: Key Developments
In January 2023, CorEvitas, LLC, the leading sponsor of syndicated clinical registries in autoimmune and inflammatory diseases, launched its ninth clinical registry and is recruiting patients in a first-of-its-kind registry to evaluate the safety and effectiveness of newly approved therapies for patients diagnosed with alopecia areata. This unique initiative leverages the company's high-caliber dermatology site network to address an unmet need for real-world evidence (RWE) and safety data related to novel therapies for alopecia areata.
In March 2022, Mount Sinai Health System, a hospital network in New York City, launched new Alopecia Areata Center of Excellence. In an unparalleled effort to deliver outstanding comprehensive care and to employ revolutionary approaches to novel therapeutics around the skin condition alopecia areata, the Mount Sinai Health System has launched the Alopecia Areata Center of Excellence.
Browse 34 Market Data Tables and 24 Figures spread through 180 Pages and in-depth TOC on “Global Alopecia Treatment Market”- Forecast to 2030, Global Alopecia Treatment Market, By Drug Class (Corticosteroids, 5 AR Inhibitors, Vasodilators and Others), By Disease Type (Alopecia Areata, Androgenic Alopecia, Traction Alopecia and Others), By Route of Administration (Topical, Oral, and Injectable ), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/alopecia-treatment-market-1847
Key Takeaways of the Global Alopecia Treatment Market:
- Global alopecia treatment market is expected to exhibit a CAGR of 5.6% during the forecast period. The increasing prevalence of alopecia will increase demand of its treatment thus, driving the market growth over the forecast period.
- Among drug class, the corticosteroids segment is expected to hold a dominant position in the global alopecia treatment market during the forecast period, and this is attributed to the Inorganic growth strategies such as acquisition and collaboration by market players for alopecia treatment. Corticosteroids are a class of anti-inflammatory medications that can be used in the treatment of various conditions, including alopecia (hair loss). Corticosteroids work by suppressing the immune system and reducing inflammation, which can be beneficial in certain types of alopecia where inflammation plays a role in hair loss.
- Among disease type, alopecia areata is expected have the highest CAGR in the global alopecia treatment market, owing to market players focusing on increasing research and development activities for alopecia areata treatment. For instance, in September 2023, Q32 Bio, a clinical stage biotechnology company developing biologic therapeutics to restore immune homeostasis, and Horizon Therapeutics plc, a global biotechnology company, announced that the first patient has been dosed in a randomized, double-blind, placebo-controlled, Phase 2 multicenter, proof-of-concept study to evaluate bempikibart in adult patients with severe alopecia areata. Q32 Bio and Horizon are collaborating to develop bempikibart, a fully human anti-IL-7Rα antibody that re-regulates adaptive immune function by blocking signaling mediated by both IL-7 and TSLP, two key immune pathways.
- The major players operating in the global alopecia treatment market are Stemson Therapeutics, OliX Pharmaceuticals, Inc, Pfizer Inc, Aclaris Therapeutics, Inc., Fagron, Follicum AB, Cipla Inc., Arcutis Biotherapeutics, Dr. Reddy’s Laboratories Ltd., Himalaya Wellness Company, Cosmo Pharmaceuticals N.V., Equillium, Inc., Eli Lilly and Company, Concert Pharmaceuticals Inc., and Teva Pharmaceutical Industries Ltd.
