The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Alopecia Areata Global Market Report 2023, the alopecia areata market is expected to show significant growth in the forecast period.

Key insights from the alopecia areata market forecast include:

1. Market Size

The worldwide alopecia areata market is projected to rise from $3.08 billion in 2022 to $3.31 billion in 2023, with a 7.5% CAGR, and is anticipated to reach $4.35 billion in 2027, maintaining a 7.1% CAGR.

2. Major Driver

The increasing occurrence of hair loss propels the alopecia areata market. Hair loss disrupts the natural hair growth cycle. In March 2022, data from the Hair Society, a US-based professional organization, revealed that approximately 21 million women and 35 million men worldwide experienced hair loss. Hair loss typically begins around age 35, affecting 40% of males, with the rate increasing to 70% by age 80. Among women, 80% or more will experience hair loss by age 60, highlighting the market’s growth linked to rising hair loss prevalence.

View More On The Alopecia Areata Market Report 2023 – https://www.thebusinessresearchcompany.com/report/alopecia-areata-global-market-report

3. Key Trend

Innovative drug approvals are a prominent trend in the alopecia areata market. Leading companies in this sector aim to secure new drug approvals to enhance their market standing and gain a competitive edge. For instance, in June 2023, Pfizer Inc., a US-based biotechnology and pharmaceutical firm, revealed that the US Food and Drug Administration (FDA), a federal agency under the Department of Health and Human Services focused on public health protection, had granted approval for LITFULOTM (ritlecitinib), the first authorized treatment for severe alopecia areata for patients as young as 12. It represents a once-daily oral solution for alopecia areata, an autoimmune condition that previously lacked FDA-approved treatments for teenagers and had limited options for adults. LITFULO, a kinase inhibitor, targets Janus kinase 3 (JAK3) and the tyrosine kinase family of kinases found in hepatocellular carcinoma (TEC).

4. Largest Region

North America was the largest region in the alopecia areata market in 2022.

5. Major Players

Major players in the alopecia areata market are Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Novartis AG, Bristol-Myers Squibb Company, Sanofi S.A., GlaxoSmithKline plc., Eli Lilly and Co Ltd., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Perrigo Company plc, Bausch Health Companies Inc., Incyte Corporation, Dr. Reddy’s Laboratories Ltd., Cipla Ltd., Taisho Pharmaceutical Holdings Co. Ltd., Lupin Ltd., Glenmark Pharmaceuticals Ltd., Almirall S.A., Torrent Pharmaceuticals Ltd., Ranbaxy Laboratories Limited, Taro Pharmaceutical Industries Ltd., G&W Laboratories Inc., Vanda Pharmaceuticals Inc., Aclaris Therapeutics Inc., BioSplice Therapeutics Inc., XBiotech Inc., PureTech Health plc, HCell Inc., and Histogen Inc.

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Key Alopecia Areata Market Segments

The global alopecia areata market is segmented –

1) By Type: Patchy Alopecia Areata, Alopecia Totalis, Alopecia Universalis, Diffuse Alopecia Areata, Ophiasis Alopecia, Other Types

2) By Treatment: Medical Treatments, Natural Treatment, Other Treatments

3) By Diagnosis: Trichoscopy, Skin Biopsy, Other Diagnoses

4) By Route Of Administration: Oral, Topical, Parenteral, Other Routes Of Administration

5) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users

The Alopecia Areata Global Market Report 2023  provides an in-depth analysis on the alopecia areata market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the alopecia areata market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. 

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