Product launches, approvals, and robust pipeline of novel products is expected to be the major driver of growth of the global alopecia treatment market.
Alopecia also called as hair-loss or baldness is a medical condition that refers to loss of hairs from head or any part of the body. The condition can occur in both male and female and at any age. There are five major type of alopecia namely; alopecia areata, androgenic alopecia, ciatricial alopecia, traction alopecia, and alopecia totalis. Alopecia areata is a common autoimmune disorder in which the immune system of body attacks the healthy hair follicle leading to hair fall. Androgenic alopecia also known as male pattern baldness and female pattern hair loss is a very common type of alopecia and affects many individuals at some stage of life. Ciatricial alopecia also known as scarring alopecia is a condition in which hair follicles are destroyed and replaced by scar tissue. There are only few approved treatment drugs indicated for the treatment of alopecia. For instance, Minoxidil, Finasteride, and Cyclosporine.
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The global alopecia treatment market size was valued at US$ 7.4 Bn in 2017, and is expected to witness a CAGR of 5.6% over the forecast period (2018 – 2026).
In recent past, regulatory bodies have approved novel drugs for treatment of alopecia and many drugs are in pipeline, which are expected to receive approval in near future. Approval of novel drugs and presence of robust drug pipeline is expected to drive global alopecia treatment market growth in near future. For instance, in January 2018, Concert Pharmaceuticals, Inc., a U.S.-based company received Fast Track designation from U.S. Food and Drug Administration (FDA) for its novel product CTP-543. CTP-543 is a novel, oral Janus kinase (JAK) inhibitor for the treatment of moderate-to-severe alopecia areata. In April 2018, Concert Pharmaceuticals, Inc., finished patient recruitment for Phase 2a trial evaluating CTP-543 for the treatment of moderate-to-severe alopecia areata.
The presence of alternative treatment option for alopecia is expected to be major factor restraining the global alopecia treatment market growth in near future. For instance, methods such as hair transplant surgery, laser and light-based therapies are expected to hinder the growth of market.
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Key Vendors:
Histogen, Inc., Aclaris Therapeutics, Inc., Concert Pharmaceuticals, Inc., HCell Inc., GlaxoSmithKline Plc., Daiichi Sankyo, Inc., Cipla Limited, and others.
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