[193 Pages Report] The Alopecia Drugs Market size was estimated at USD 1.23 billion in 2023 and expected to reach USD 1.37 billion in 2024, at a CAGR 11.90% to reach USD 2.70 billion by 2030.
Alopecia is a medical condition indicated by hair loss from the scalp or other body parts, affecting both males and females. Alopecia drugs serve as pharmacological interventions to prevent further hair loss, stimulate the regrowth of lost hair or address underlying causes. For instance, Finasteride is primarily utilized for treating androgenetic alopecia in men by inhibiting the enzyme 5-alpha-reductase responsible for converting testosterone into dihydrotestosterone (DHT) – a hormone linked to male pattern baldness. On the other hand, Minoxidil is a vasodilator initially developed to treat hypertension that has been approved for promoting hair growth in both sexes. Moreover, novel approaches, such as JAK inhibitors targeting Janus kinase proteins involved in immune signaling pathways or Platelet-Rich Plasma therapy harnessing growth factors from autologous blood samples, are under investigation. The global alopecia drugs market is experiencing significant growth due to the worldwide surging prevalence of autoimmune diseases, unhealthy lifestyle habits, and physical inactivity contributing to hair loss. Furthermore, numerous NGOs are actively working to raise awareness about alopecia, further fueling market growth. However, concerns about alopecia drugs' adverse health impacts and efficacy act as restraining factors for the market's expansion. Additionally, a surge in preference for hair growth transplants and cosmetic treatments may hinder the adoption of pharmaceutical interventions. On the other hand, emerging regulatory approvals for novel systemic therapies for alopecia areata offer lucrative opportunities for market players. Additionally, ongoing research and development activities in alopecia management bring promising prospects for future advancements.
In the Americas, the market is primarily driven by a rising incidence of alopecia areata and male-pattern baldness. The increasing emphasis on aesthetic appearances combined with a diverse demographic profile contributes to the need for effective hair loss treatments. Moreover, the presence of leading pharmaceutical companies, surging FDA approvals for novel alopecia treatments, and continuous investments in research and development for novel therapies have bolstered market growth in this region. The APAC shows promising potential for the alopecia drug industry due to the increased prevalence of various hair loss disorders and growing patient awareness about available treatment options. Countries such as Japan, China, India, South Korea, and Australia are experiencing an upsurge in the need for alopecia drugs as their urban population experiences higher levels of stress-induced hair loss. Emerging economies in the APAC region are also funding research initiatives related to dermatology and trichology to meet growing needs. In the EMEA region, evolving consumer preferences alongside advances in medical technology continue to foster positive trajectories within the global alopecia drug market. Rising consumer awareness about effective treatments and government initiatives to improve healthcare infrastructure has stimulated growth opportunities within this diverse territory.
The FPNV Positioning Matrix is pivotal in evaluating the Alopecia Drugs Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Alopecia Drugs Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
FDA Approves Pfizer’s Alopecia Drug
Pfizer, Inc. received the U.S. Food and Drug Administration (FDA) approval for Pfizer’s Litfulo (ritlecitinib), a once-daily oral treatment for people 12 years and older with severe alopecia areata. The approval is based on the key phase 2b/3 ALLEGRO study, which enrolled 718 patients with 50% or more scalp hair loss. [Published On: 2023-06-26]
Sun Pharma to acquire US-based Concert Pharmaceuticals for USD 576 million
Sun Pharmaceuticals acquired Concert Pharmaceuticals for a total sum of USD 576 million. This acquisition secures Sun Pharma's rights to Concert's alopecia drug. Concert completed the evaluation of the effectiveness and security of deuruxolitinib in adults with moderate to severe Alopecia Areata in its THRIVE-AA Phase 3 clinical program, and two open-label, long-term extension examinations are ongoing in North America and Europe. The acquisition of Concert adds a late-stage, potential best-in-class treatment for Alopecia Areata in deuruxolitinib. [Published On: 2023-01-19]
FDA Approves Lilly and Incyte's OLUMIANT (baricitinib) As First and Only Systemic Medicine for Adults with Severe Alopecia Areata
The Food and Drug Administration (FDA) approved Lilly and Incyte's Olumiant (baricitinib) as a systemic therapy for adults with severe alopecia areata, available as 4-mg, 2-mg, and 1-mg tablets. Clinical studies have shown significant improvement in alopecia symptoms among adults treated with baricitinib. The approval is based on Lilly's BRAVE-AA1 and BRAVE-AA2 trials, the Phase 3 alopecia areata clinical trial program, evaluating the effectiveness and security of OLUMIANT in 1,200 adult patients with intense alopecia areata. [Published On: 2022-06-13]
The report delves into recent significant developments in the Alopecia Drugs Market, highlighting leading vendors and their innovative profiles. These include AndroScience Corporation, Capillus, LLC by Curallux, LLC, Cipla Inc., Concert Pharmaceuticals, Inc., Daiichi Sankyo Company, Ltd., Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, Hairline Co., Merck & Co., Inc., The Himalaya Drug Company, and Vitabiotics Ltd..
This research report categorizes the Alopecia Drugs Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Alopecia Types
- Alopecia Areata
- Alopecia Totalis
- Alopecia Universalis
- Route of Administration
- United States
- New York
- South Korea
- Europe, Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- United Kingdom
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast of the Alopecia Drugs Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Alopecia Drugs Market?
- What are the technology trends and regulatory frameworks in the Alopecia Drugs Market?
- What is the market share of the leading vendors in the Alopecia Drugs Market?
- Which modes and strategic moves are suitable for entering the Alopecia Drugs Market?
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Alopecia Drugs Market, by Alopecia Types
- Alopecia Drugs Market, by Gender
- Alopecia Drugs Market, by Route of Administration
- Americas Alopecia Drugs Market
- Asia-Pacific Alopecia Drugs Market
- Europe, Middle East & Africa Alopecia Drugs Market
- Competitive Landscape
- Competitive Portfolio
- AndroScience Corporation
- Capillus, LLC by Curallux, LLC
- Cipla Inc.
- Concert Pharmaceuticals, Inc.
- Daiichi Sankyo Company, Ltd.
- Dr. Reddy’s Laboratories Ltd.
- Eli Lilly and Company
- Hairline Co.
- Merck & Co., Inc.
- The Himalaya Drug Company
- Vitabiotics Ltd.