How is the Androgenetic Alopecia Treatment Market Poised for Growth: Trends and Opportunities Through 2034
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What is the Predicted Annual Growth Rate of the Androgenetic Alopecia Treatment Market Over the Coming Decade?
In the last few years, the androgenetic alopecia treatment market has seen substantial growth. The market size is expected to increase from $2.29 billion in 2024 to $2.47 billion in 2025, showing a compound annual growth rate (CAGR) of 7.9%. The upswing during the historical phase is associated with the focus on enhancing patient outcomes and their quality of life, a rise in the elderly population, and an uptick in healthcare spending.
The market for androgenetic alopecia treatment is predicted to experience substantial growth in the upcoming years. It is projected to increase to $3.3 billion by 2029, with an annual compound growth rate of 7.5%. The anticipated growth during the forecast period can be attributed to a rise in hair loss cases, an increase in chronic diseases such as cancer, polycystic ovary syndrome (PCOS), and rheumatoid arthritis, as well as a growing demand for effective hair loss solutions. The main trends for the forecast period are anticipated to be partnerships, product approvals, investments, and research and developments.
What Market Dynamics Are Playing a Key Role in Accelerating the Growth of the Androgenetic Alopecia Treatment Market?
Growth in the androgenetic alopecia treatment market is predicted to be driven by an increase in hair loss cases. Alopecia, or the loss of hair from the scalp or other parts of the body, is linked to factors including nutritional deficiencies, hormonal fluctuations, genetics, and heightened stress. Androgenetic alopecia treatments function through several methods such as hormonal regulation, stimulating follicles, and surgical restoration in order to manage hair loss and encourage hair regrowth. An article by the Hair Society, a professional organization based in the US, reported in March 2022 that around 21 million women and 35 million men worldwide were affected by hair loss. Furthermore, according to the UK government agency, the National Health Service, it is expected that by 2024, about 8 million women and 6.5 million men in the UK will be affected by hair loss. Additionally, over 650,000 hair transplants are performed each year. As such, the upsurge in hair loss cases is a key driver of the androgenetic alopecia treatment market.
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What Are the Major Players Making an Impact in the Androgenetic Alopecia Treatment Market’s Growth?
Major companies operating in the androgenetic alopecia treatment market are:
• Johnson & Johnson
• Merck & Co. Inc.
• AbbVie Inc.
• Eli Lilly and Company
• Daiichi-Sankyo Co. Ltd.
Which Upcoming Trends Are Set to Influence the Androgenetic Alopecia Treatment Market’s Path Forward?
Leading businesses in the androgenetic alopecia treatment segment are introducing innovative treatment alternatives to tackle hair loss. These include encouraging the regeneration of hair follicles, suppressing the hormones responsible for hair loss, and utilizing unique delivery methods such as oral drugs and topical applications. For example, in June 2023, the American healthcare firm Pfizer Inc. gained FDA approval for LITFULO (ritlecitinib), an everyday oral therapy for individuals aged 12 and above suffering from severe alopecia areata. LITFULO is a kinase inhibitor, which impedes the effect of Janus kinase 3 (JAK3) and the tyrosine kinase present in the hepatocellular carcinoma (TEC) family of kinases. The approval from the FDA was based on the results of the ALLEGRO Phase 2b/3 trial, in which 23% of patients, when treated with LITFULO 50mg, achieved 80% or more scalp hair coverage after six months, compared to a mere 1.6% with a placebo. This solution provides a fresh approach to the significant issue of hair loss, meeting an unfulfilled requirement in the treatment of alopecia areata.
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How Are the Key Segments of the Androgenetic Alopecia Treatment Market Impacting Its Expansion and Revenue Streams?
The androgenetic alopecia treatment market covered in this report is segmented –
1) By Treatment Type: Pharmaceutical, Device
2) By Medication Type: Prescription, Over-The-Counter
3) By Gender: Male, Female
4) By End-User: Homecare Settings, Dermatology, Clinics, Other End-Users
Subsegments:
1) By Pharmaceutical: Oral Medications ( Finasteride), Topical Medications (Minoxidil), Hormonal Therapy
2) By Device: Laser Therapy Devices, Hair Transplant Devices, Scalp Micropigmentation Devices
What Regions Are Steering Growth in the Androgenetic Alopecia Treatment Sector?
North America was the largest region in the androgenetic alopecia treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the androgenetic alopecia treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
How Is the Androgenetic Alopecia Treatment Market Classified and Defined in Market Analysis?
Androgenetic alopecia, also known as male-pattern baldness or female-pattern hair loss, is a common form of hair loss in both men and women. It is characterized by a progressive thinning of the hair, typically starting with a receding hairline in men and diffuse thinning over the crown in women. This condition is influenced by genetic factors and the presence of androgens, particularly dihydrotestosterone (DHT).
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