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

Alopecia Market Driver

• The market for alopecia areata is expected to rise as hair loss becomes more common. According to the American Academy of Dermatology Association (AAD), around 30 million women and 50 million men in the US were estimated to have alopecia in 2021. Around 60% of people experience hair thinning, with pattern hair loss being the most prevalent kind of hair loss in both men and women, according to the Journal of Clinical and Diagnostic Research (JCDR). Additionally, regardless of gender, 2% of the general population is susceptible to developing alopecia areata in their lifetime
• The increasing cost of healthcare contributes to the development of the market for alopecia areata and has a significant impact on its growth rate. An increase in the number of initiatives being carried out by groups like the American Hair Loss Association and the National Alopecia Areata Foundation to spread knowledge about hair regrowth and treatment options is what is causing a rise in healthcare spending.
• It is believed that alopecia areata, like other autoimmune disorders, has a hereditary basis and unknown triggers that result in hair loss. Disorders like multiple sclerosis, type 1 diabetes, celiac disease, rheumatoid arthritis, vitiligo, thyroid disease, and inflammatory bowel disease have all been connected to an increased risk in the patient or family.
• The market for alopecia areata will also grow as more public and private groups launch awareness-raising campaigns. Additionally, the market for alopecia areata will grow due to increased autoimmune disease frequencies and sedentary lifestyles of individuals.

Alopecia Market Restraint

• The high expense of the treatment, on the other hand, will impede the market's rate of expansion. The market for alopecia areata will be challenged by limited primary care services and a lack of healthcare infrastructure in emerging nations. During the projection period of 2022–2028, strong regulatory rules and a lack of public awareness will also act as inhibitors and slow down-market growth.