Alopecia Medication Market Size, Share, Industry, Forecast and outlook (2023-2030)

Global Alopecia Medication Market is segmented By Drug Type (Minoxidil, Finasteride, Corticosteroids, Immunosuppressants (Cyclosporine, and others) ), By Route of Administration (Oral, Topical, Injectable), By Gender ( Males, Females), By Distribution Channel (Hospitals, Retail Pharmacies, Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2023-2030

Market Overview

The "Alopecia Medication Market"  is expected to grow at a CAGR during the forecasting period ( 2023-2030).

Hair loss, also known as alopecia, refers to a loss of hair from part of the head or body. The severity of hair loss can vary from a small area to the entire body. Usually, the hair loss is most prominent on the head. It can occur in both males and females at any age, and typically inflammation or scarring is not present.

Market Summary

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Market Dynamics

• The global Alopecia Medications market is primarily driven by the high prevalence of Alopecia worldwide. According to National Alopecia Areata Foundation, Alopecia areata is a common autoimmune disease that occurs in males and females of all ages and races, but onset most often occurs in childhood and approximately 147 million worldwide have or will develop alopecia areata at some point in their lives.

• A meta-analysis study suggests that androgenetic alopecia, a genetically predetermined disorder due to excessive response to androgens, affects up to 50% of males and females.

• Furthermore, various launches, approvals, and pipelines of alopecia medications products are expected to drive the growth of the market. For instance, in January 2018, Concert Pharmaceuticals received a Fast Track designation from the U.S. FDA for its unique product CTP-543, an oral Janus kinase inhibitor for the medications of moderate-to-severe alopecia areata.

• However, the patent expiry of many blockbuster drugs and side effects associated with the available hair loss medications therapies may hinder the market progress over the forecast period.

Market Segmentation

• By Alopecia type, the global Alopecia market is segmented into androgenic alopecia, alopecia areata, cicatricial alopecia, traction alopecia, and alopecia totalis.

• The androgenetic alopecia segment is the most significant share owing to its high prevalence among the different types of alopecias.

• Androgenetic alopecia is a common form of hair loss in both men and women. In men, this condition is also known as male-pattern baldness. According to the American Hair Loss Association, androgenetic alopecia accounts for over 95% of hair loss in men.

• By Drug Type, the global Alopecia market is segmented into minoxidil, finasteride, corticosteroids, immunosuppressants (cyclosporine, and others).

• Finasteride holds a significant segment for the medications of alopecia. However, the U.S. FDA proved two drugs Minoxidil, and finasteride to treat Alopecia and the American Hair Loss Association recommends the use of minoxidil in patients who have not responded to finasteride medications. Hence the Minoxidil segment is fast rising.

• By Gender, the global Alopecia market is segmented into male and female. Males hold a substantial segment. According to American Hair Loss Association (AHLA) by the age of 35, two-thirds of American men will experience some degree of appreciable hair loss, and by the age 50, approximately 85% of men have significantly thinning hair and females make up 40% of American hair loss sufferers.

Geographical Analysis

• North America holds the dominant share of the global Alopecia Medications market, and it is primarily attributed to factors such as due to the rise in the prevalence of hair loss and subsequently the increasing demand for its medications.

• According to the National Alopecia Areata Foundation, Alopecia areata affects as many as 6.8 million people in the U.S. with a lifetime risk of 2.1%. The United States and Canada have a major influence on the regional market of North America. Moreover, its established healthcare infrastructure, rising disposable income, and higher investment in R&D activities contribute to the growth of North America’s share.

Competitive Analysis

• Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market.

• Regulatory approvals along with an increased focus on R&D are other ways the leading players improve their market presence.

• March 2019, Concert Pharmaceuticals announced that it initiates an open-label clinical trial to evaluate once-daily compared to twice-daily oral dosing of CTP-543 in patients with alopecia areata. The trials are intended to inform the optimal dosing regimen for CTP-543 for future clinical trials.

• In June 2018, Aclaris Therapeutics announced that the first patient had been dosed in Aclaris’ Phase 2 clinical trial of its JAK inhibitor product candidate ATI-501 oral suspension in patients with two forms of Alopecia Areata (AA) known as Alopecia Totalis (AT) and Alopecia Universalis (AU).

• July 2018, Aclaris Therapeutics announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to Aclaris’ investigational topical Janus Kinase (JAK) 1/3 inhibitor (ATI-502) for the medications of alopecia areata, including patchy alopecia areata and the more severe variants of the disease, alopecia totalis and universalis.

• January 2018, HCell Inc., a Texas-based biotechnology company received Orphan Drug Designation for its HC017AA drug from U.S. FDA. HC017AA is an underdevelopment drug indicated for non- surgical medications for Alopecia Areata in Pediatric Patients.

• In 2017, Perrigo Company launched over-the-counter Women’s Rogaine 5% minoxidil foam (topical aerosol).