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Press Release

Alopecia Drugs – Market Drivers and Forecasts from Technavio

Technavio Research
Posted on: 22 Nov 16

Technavio analysts forecast the global alopecia drugs marketto grow at a CAGR of more than 5% during the forecast period, according to their latest report.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161122005769/en/

Technavio publishes a new market research report on the global alopecia drugs market from 2016-2020. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the global alopecia drugsmarketfor 2016-2020. To calculate the market size, the report considers revenue generated from the sales of branded, generic and off-label drugs used for the treatment of alopecia.

The global alopecia drugs market is expected to witness steady growth during the forecast period due to the introduction of JAK inhibitors such as tofacitinib and ruxolitinib for the treatment of alopecia. Also, the US FDA approval of the JAK drugs that stimulate the growth of hair follicles with fewer side effects is further anticipated to boost the alopecia treatment market.

Request a sample report: http://www.technavio.com/request-a-sample?report=54531

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Technavio healthcare and life sciencesanalysts highlight the following three factors that are contributing to the growth of the global alopecia drugs market:

  • Lifestyle changes
  • Popularity of off-label and OTC drugs
  • High uptake of approved therapies

Lifestyle changes

Modern lifestyle changes such as physical inactivity and stress can lead to the development of alopecia. Research studies report that people, who are physically inactive, are prone to develop insulin resistance compared with active individuals. Over time, insulin resistance leads to the production of higher levels of cortisol, which have been elevated in the hair cells of those with androgenic alopecia. Research studies also put forth that excess insulin can increase the levels of androgens in the body. High levels of androgens affect the hair cells production, resulting in androgens alopecia development.

Sapna Jha, a lead infectious and rare diseases analyst at Technavio, says, “Physical stress, smoking, and alcohol consumption can cause alopecia among individuals aged 12-50 years. Physical stress can interrupt the normal cycle of hair growth. The factors mentioned above can also lead to other health issues such as diabetes, thyroid problems, polycystic ovary syndrome, digestive imbalances, and metabolism complications, which can result in alopecia.”

Popularity of off-label and OTC drugs

Considering there is a lack of exact therapy targeted at remission of alopecia, the off-label drugs are used extensively by the individuals. Although, these drugs are ideally a threat to market growth in the absence of any proven remission track, these drugs come quite helpful to fuel the drug sales for alopecia market. For instance, AVODART is approved for the treatment of prostate cancer, but this drug is also used for the treatment of alopecia. Usage of approved drugs is classified as 'off-label' when the same drug is used for unapproved clinical indication or extension to a milder form of approved indication or extension to related conditions.

The introduction of novel JAK inhibitor drugs as potential treatments for alopecia is the important milestone in the alopecia therapeutics development. Within the body, JAK inhibitors suppress the function of JAK enzymes. These enzymes are responsible for hair growth cycle,” adds Sapna.

High uptake of approved therapies

The alopecia market has a huge unmet need in terms of approved therapies. Globally, the market has only two approved drugs, one (minoxidil) being topical in nature, whereas the other (finasteride) being oral. However, these two drugs have a huge success story with the individuals affected with alopecia and command nearly 80% of the market share. Lately, the Japanese, South Korean, and Australian market have seen the entry of AVODART, impact of which is yet to be quantified by the market. However, considering the efficacy and safety of this drug, once approved for the US and the EU market, the alopecia drug market should witness stronger growth on a global scale.

Top vendors:

  • GlaxoSmithKline
  • Johnson & Johnson
  • Merck

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161122005769/en/

Business Wire
www.businesswire.com

Last updated on: 22/11/2016

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