Alopecia Treatment Market Size, Share, Growth, Trends, and Global Industry Analysis: By Disease Treatment (Alopecia Areata, Androgenic Alopecia, Traction Alopecia, and Others), By Drug Class (Corticosteroids, 5AR Inhibitors, Vasodilators, and Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and Online Pharmacy), and Region

Alopecia Treatment Market size was valued at US$ 8.6 billion in 2023 and is poised to grow at a CAGR of 11.2% from 2024 to 2030. Alopecia is an autoimmune disorder in which hair loss and baldness have been observed in both males and females. Various drugs and treatments are marketed such as hair transplant, scalp reduction, and others that prevent alopecia, the incidence of alopecia has increased by 49.2% globally which is higher in the 20-24- and 30-34-years age group for males and females. The change in lifestyle along with rising stress levels and unbalanced diets are the major causes of hair fall which influence the alopecia treatment market demand.

In addition, the increasing geriatric population and hormonal changes cause alopecia which drives the alopecia treatment market growth. The market for alopecia treatment is filled with local and international key players. The increase in research and development activities accelerates the market, The increasing prevalence of Type 1 diabetes, thyroid illness, and multiple sclerosis linked with genetic disorders causes hair fall issues which creates numerous opportunities in the alopecia treatment market. The cost of treatment involves high medications and artificial hair transplants are expensive, also strict regulations policies regarding medications and lack of awareness among people restrain the market growth.  

Alopecia Treatment Market Key Developments:

• In June 2022, FDA Approves Eli Lilly and Incyte's OLUMIANT® (baricitinib) As the First and Only Systemic Medicine for Adults with Severe Alopecia Areata treatment.
• In August 2021, Pfizer Inc. announced positive top-line results from the Phase 2b/3 ALLEGRO trial evaluating oral once-daily ritlecitinib in patients with alopecia areata. Ritlecitinib 50 mg and 30 mg achieved the primary efficacy endpoint of the study, namely the proportion of patients with less than or equal to 20 percent scalp hair loss after six months of treatment versus placebo.