Alopecia Market Size, Share, Growth Analysis, By Disease type(Alopecia Areata, Cicatricial, Traction, Androgenetic Alopecia), By Treatment(Pharmaceuticals, Devices), By Gender(Male, Female), By Sales Channel(Prescriptions, OTC), By End Use(Homecare setting, dermatology clinics), By Region - Industry Forecast 2024-2031

In 2021, North America dominated the market and had the highest revenue share (36.3%). High disease prevalence, rising consumer awareness, pro-active government action, technological advancements, and improvements to the healthcare system's infrastructure all contribute to the growth. A major driver of the market's expansion is the existence of important players in this area. Additionally, the region is seeing an increase in the number of people receiving laser-based therapy to treat alopecia. The National Alopecia Areata Foundation (NAAF), the Canadian Alopecia Areata Foundation, and other government and non-profit organisations that provide guidelines and raise public awareness are also likely to have a positive effect on the market.

The market is expected to grow at the highest CAGR in Asia Pacific during the forecast period as a result of rising consumer awareness, disposable income, and product penetration in the region for alopecia. Additionally, it is expected that enhancing the healthcare regulatory environment in emerging nations will draw in foreign investors and open up new business opportunities. For instance, China's regulatory body, the China Food and Drug Administration, authorised the iGrow laser system by Apira Science in 2021, making it the country's first ever laser-based hair growth technology.

During the forecast period, Europe is also expected to hold a sizable market share. Many things, including technology developments and awareness programmes run by both governmental and commercial organisations, might be blamed for this surge. The European Hair Research Society plays a significant role in organising campaigns to raise awareness of hair loss research and efficient treatments for preventing hair loss.