Alopecia Market Projected To Raise At USD 16.02 Billion By 2030

 San Francisco, 21 March 2024: The Report Alopecia Market Size, Share & Trends Analysis Report By Disease Type (Alopecia Areata, Cicatricial, Traction, Androgenetic Alopecia), By Treatment, By Gender, By Sales Channel, By End-use, By Region, And Segment Forecasts, 2024 - 2030

The global alopecia market size is expected to reach USD 16.02 billion by 2030, registering a CAGR of 9.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The approval of JAK inhibitors and tyrosine kinase inhibitors along with the rising target disease prevalence is expected to drive market growth.

The prevalence of alopecia areata (AA) and alopecia totalis is increasing globally. It is one of the most commonly encountered problems in clinics in the U.S. As per a research article published in March 2023, in the U.S. and UK, AA accounted for 0.6% to 2% of the new cases encountered in dermatology clinics. In hospital-based studies performed worldwide the incidence of AA is estimated to range between 0.57% to 3.8%.

The approval of new targeted pharmaceutical treatments is a key factor driving the alopecia market growth. For instance, in June 2022, the U.S. FDA approved Lilly’s Olumiant oral tablets for the treatment of severe alopecia in adult patients and is the first systemic treatment approved. Another key drug that is anticipated to be approved in 2023 is Pfizer’s Ritlecitinib. It is a dual inhibitor of Janus kinase 3 (JAK3) and tyrosine kinases.

Another key factor driving the industry’s growth is the increasing awareness regarding alopecia and thereby increasing treatment rates worldwide. The increase in the level of consciousness regarding physical appearance is one of the major reasons for the rising number of people seeking treatment. Additionally, rising investments in R&D and funding are also fueling market growth.

The limited availability of targeted drugs that treat the underlying condition is one key challenge for the market. While new products with targeted mechanisms of action are being approved the high cost of these drugs in comparison to the already approved products is one of the major hindrances in their widespread adoption.

Access Research Report of Alopecia Market @ https://www.grandviewresearch.com/industry-analysis/alopecia-market

Alopecia Market Report Highlights

• The alopecia universalis segment is expected to witness the fastest growth from 2024 to 2030, owing to the impending approval of pipeline products, such as Pfizer’s Ritlecitinib which is in the pre-registration phase, and Bioniz Therapeutics’s BNZ-1 which is in phase 2 clinical trials
• North America dominated the market in 2023, mainly due to the high consumer awareness, technological advancements, high target disease population, and high healthcare spending
• Asia Pacific is expected to grow at the highest CAGR during the forecast period. This can be majorly attributed to the rising target disease population and rising treatment rate for the disease. 

Alopecia Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 9.48 billion
Revenue forecast in 2030	USD 16.02 billion
Growth rate	CAGR of 9.1% from 2024 to 2030
Actual data	2018 - 2023
Forecast period	2024 - 2030

List of Key Players of Alopecia Market

• Janssen Global Services Inc.
• Cipla Limited
• Merck & Co., Inc.
• GlaxoSmithKline plc
• Sun Pharmaceuticals Industries Ltd
• Reddy’s Laboratories Ltd
• Aurobindo Pharma
• Viatris Inc.
• Pfizer, Inc.
• Lilly
• Lexington Intl., LLC (Devices)
• Freedom Laser Therapy (iRestore ID-520 helmet)
• Curallux, LLC.
• Apira Science Inc. (iGROW Laser)
• Revian Inc.
• Theradome
• Lutronic

Access Press Release of Alopecia Market @ https://www.grandviewresearch.com/press-release/global-alopecia-market