Alopecia Treatment Market – Future Trends, Growth, Share & Forecast Up to 2024
A sedentary lifestyle, unhealthy eating habits, and growing stress levels are increasingly responsible for severe hair loss and damage, also known as alopecia. Ageing, hormonal imbalance, and increasing prevalence of cancer, arthritis, hypertension, and depression are other factors causing alopecia. Thus, the alopecia treatment market is anticipated to witness significant growth in the coming years owing to a surge in the prevalence of alopecia. The number of people seeking alopecia treatment is extremely high in developed nations. However, increased healthcare expenditure has spurred the demand for alopecia treatment in developing nations such as China and India as well.
The alopecia treatment market is segmented on the basis of product, gender, end user, and geography. By product, the market is segmented into shampoos and conditioners, vitamins and supplements, and other (gels, oils, and serums). On the basis of end user, the market is segmented into homecare settings, dermatology clinics, and others.
The report covers an exhaustive analysis on the alopecia treatment market segments, including the leading, declining, and fastest growing segments. It comprises the analysis of market dynamics, the market size and forecast, and the trends, threats, and opportunities. The study also comprises the vendor landscape, degree of competition, threat of new entrants, and the bargaining power of buyers and suppliers.
According to the American Hair Loss Association, 95% of the hair loss in men is caused by androgenetic alopecia. The Association also states Moreover, the body also states that around 800 thousand people are undergoing some form of treatment for hair loss across the globe. The rise in the geriatric population and increasing hypertension and depression among the middle aged population are some of the factors driving the alopecia treatment market. A growing demand for surgical hair transplant is expected to drive the global alopecia treatment market in the coming years. An increase in the disposable income of the people, technological advancements in hair treatment medical devices, and a growing emphasis on looking good are some of the other factors driving the market. Moreover, the easy accessibility to scalp treatment is also helping the market to grow.
The global alopecia treatment market is expected to be restricted by the high cost of medications. The probable side effects, reactions, and allergies caused by alopecia treatments will further hamper the growth of the market. Decreased libido, high BP, increase in the heart rate, and erectile dysfunction are some of the side effects caused by alopecia treatment, threatening the market’s growth. However, technological advancements and the development of novel therapeutic drugs are expected to bring new opportunities for growth in the market.