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27-Mar-2019

Alopecia Drugs Market Expected To Generate A CAGR of 4.80% By 2026

The global alopecia drugs market is projected to reach a value of over US$ 10,000 Mn in 2026 at a CAGR of 4.8% over the forecast period. Alopecia or hair loss refers to partial or complete baldness. It is a chronic dermatological disorder that can occur at any age, across genders. Causes of alopecia include harsh styling practices such as relaxers and the use of hot hair curling or straightening tools, physical trauma, surgery, major illnesses, or other intense stressors, skin disease, and sleeplessness.

Hair loss due to cancer treatment, hormone imbalance, rising prevalence of chronic diseases, nutritional deficiencies, and genetics are some more factors driving growth of the global alopecia drug market. Moreover, increasing consciousness of one’s personal appearance, novel therapeutic options, and high disposable income in developed countries are major factor expected to drive growth of the global alopecia drugs market over the forecast period.

However, high cost of medication, failure of drugs related to emotional stress, and adverse effect related to alopecia drugs are key factors restraining growth of the global alopecia drugs market.

Recent technological trends in the alopecia drugs market are development of drugs with less side effects, usage of azathioprine and capsaicin to treat alopecia, and introduction of Janus Kinase inhibitors to stimulate growth of hair follicles with minimum side effects.

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The global alopecia drugs market report has been segmented on the basis of type, material, design, application, and region.

On the basis of route of administration, topical segment is expected to account for major share in terms of revenue in the global market and is projected to register a CAGR of over 5% over the forecast period, owing to its easy application, high absorbability on scalp, and non-invasive nature. Topical treatment involves topical corticosteroids that are available in various forms such as lotions, gels, and liquids. Moreover, the topical segment is projected to maintain its dominant revenue contribution in the global market over the forecast period.

Male segment dominated the global alopecia drugs market in revenue terms, accounting for highest revenue share and registering a CAGR of over 4.5% during the forecast period 2017 & 2026. It is further projected to maintain its dominant revenue contribution over the forecast period, owing to higher smoking and drinking habits of men as compared to women.

The market in Asia Pacific is projected to register a significant growth of around 7%, which is relatively higher than that of markets in other regions. Increasing incidence of hair loss in both males and females, rising awareness levels among individuals about available treatment options and rising disposable income in emerging economies such as China, India and Singapore are factors expected to create high potential growth opportunities in the Asia Pacific market over the forecast period. Product expansion by the key players in the emerging economies is another major factor boosting growth in the Asia Pacific region. For instance, AVODART was approved for treatment of alopecia in South Korea in 2010 and in Japan in September 2015.

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Some key players in this market are Cipla Inc., Dr. Reddy’s Laboratories Ltd., Johnson & Johnson, Merck & Co., Ranbaxy Laboratories Ltd, The Himalaya Drug Company, Taisho Pharmaceutical Holdings Co., Sun Pharmaceutical Industries Ltd., and others.

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Last Updated: 27-Mar-2019