Alopecia Treatment Market: By Disease Treatment (Alopecia Areata, Androgenic Alopecia, Traction Alopecia, and Others), By Drug Class (Corticosteroids, 5AR Inhibitors, Vasodilators, and Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and Online Pharmacy), and Geography

Alopecia Treatment Market size was valued at USD 8.6 Billion in 2022 and is anticipated to reach USD 21.4 Billion by 2029, growing at an 11.2% CAGR from 2023 to 2029. Alopecia is an autoimmune disorder in which hair loss and baldness have been observed in both males and females. Various drugs and treatments are marketed such as hair transplant, scalp reduction, and others that prevent alopecia, the incidence of alopecia has increased by 49.2% globally which is higher in the 20-24- and 30-34-years age group for males and females. The change in lifestyle along with rising stress levels and unbalanced diets are the major cause of hair fall which influence the alopecia treatment market demand. In addition, the increasing geriatric population and hormonal changes cause alopecia which drives the alopecia treatment market growth. The market for alopecia treatment is filled with local and international key players, increase in research and development activities accelerate the market, increasing prevalence of Type 1 diabetes, thyroid illness, and multiple sclerosis linked with genetic disorder cause hair fall issues which creates numerous opportunities in alopecia treatment market. The cost of treatment involves high medications and artificial hair transplants are expensive, also strict regulations policies regarding medications and lack of awareness among people restrain the market growth. Geographically, North America held the major alopecia treatment market share in 2022 and is expected to dominate the global alopecia treatment market report due to the increasing prevalence of auto-immune disorder in the region.

Alopecia Treatment Market Key Developments:

• In June 2022, FDA Approves Eli Lilly and Incyte's OLUMIANT® (baricitinib) As the First and Only Systemic Medicine for Adults with Severe Alopecia Areata treatment.
• In August 2021, Pfizer Inc. announced positive top-line results from the Phase 2b/3 ALLEGRO trial evaluating oral once-daily ritlecitinib in patients with alopecia areata. Ritlecitinib 50 mg and 30 mg achieved the primary efficacy endpoint of the study, namely the proportion of patients with less than or equal to 20 percent scalp hair loss after six months of treatment versus placebo.