The global Alopecia Treatment Market to Show Significant Growth Accelerated by Rising Incidence Of Alopecia Cases

 

The global Alopecia Treatment Market is estimated to be valued at US$ 9.65 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Alopecia refers to hair loss or baldness on the scalp and other body parts. Treatment products aim to restore hair growth and halt further hair fall through drugs, cosmetics, and surgical methods. Rising awareness about treatment options and growing focus on aesthetics are boosting demand for these products.

Market key trends: Advanced treatments such as hair transplant services, topical formulations, and dietary supplements have accelerated market growth in recent years. These treatment options address hair fall issues more effectively as compared to traditional remedies. Hair transplant services involve extracting hair follicles from thick hair areas and replanting them in bald regions, with results being seen in 6-12 months. Topical minoxidil and natural active ingredients in supplements have also shown promise in stimulating hair follicles for new growth. Growing consumer acceptance and proven efficacy are contributing to increased adoption of these advanced alopecia treatments.

Segment Analysis

The Global Alopecia Treatment Market Size is dominated by the topical treatment segment which accounts for over 50% share of the market. This is because topical solutions such as gels, creams, lotions and foam shampoos are the first line of treatment for alopecia and are widely used for their convenience of use and effectiveness in promoting hair regrowth. However, the oral treatment segment is expected to witness faster growth during the forecast period due to the availability of new oral drugs and promising pipeline drugs that provide long term treatment effects without much interference to daily life like topical products.

Key Takeaways

The global alopecia treatment market is expected to witness high growth at a CAGR of 7.9% during the forecast period of 2023 to 2030. The market is projected to reach a size of US$ 16.42 Bn by 2030 from US$ 9.65 Bn in 2023.

Regional analysis
North America dominates the global alopecia treatment market currently due to higher per capita income, better accessibility to advanced treatment options, and greater awareness regarding alopecia management in the region. However, Asia Pacific is expected to depict the fastest growth during the forecast period owing to rising incidence of alopecia cases associated with increasing lifestyle-related stress levels and changing environmental factors in densely populated economies like China and India in Asia Pacific.

Key players
Key players operating in the alopecia treatment market are Toyota Motor Corporation, Honda Motor Co., Ltd., Hyundai Motor Company, Kia Corporation, Nissan Motor Co., Ltd, BYD Auto Co., Ltd., SAIC Motor Corporation Limited, Geely Automobile Holdings Limited, Tata Motors Limited, Mahindra & Mahindra Ltd., Maruti Suzuki India Limited, Mitsubishi Motors Corporation, Proton Holdings Berhad, Perusahaan Otomobil Kedua Sendirian Berhad (Perodua), and Groupe PSA.

Get More Insights On This Topic: https://www.newsstatix.com/alopecia-treatment-market-size-share-analysis-2023-2030/


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