Alopecia Treatment Market Technology Advancement and Growth 2018 to 2026
Alopecia also called as hair loss or baldness is very common condition affecting people across the globe. Alopecia can affect people of all gender and at any stage of life, it generally it affects mid-aged generation. For instance, according the data published by Arch Argent Pediatr in 2017, the prevalence of Alopecia areata is high in the age group of 10 and 25 years and around 60% of people under these age group suffer from Alopecia areata.
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Product launches, approvals, and robust pipeline of novel products is expected to be the major driver of growth of the global alopecia treatment market. For instance, in 2016, Cellmid Limited, a wholly owned subsidiary, Advangen Limited launched new hair loss product évolis in U.S. market. In May 2018, Histogen, Inc., received approval of its Investigational New Drug (IND) application from the U.S. Food and Drug Administration (FDA) to study its lead product Hair Stimulating Complex (HSC660) in female diffuse hair loss. HSC660 is an investigational injectable treatment for alopecia and is expected to get FDA approval in near future. Key players in the market are engaged in strategic collaborations for increasing geographic presence in market. For instance, in May 2018, Cellmid Limited signed a collaborative agreement with Beijing Fukangren Bio-pharm Tech Co Ltd. for distribution of its product in Peoples Republic of China. Furthermore, the increasing prevalence of alopecia worldwide is expected to drive the growth of market. For instance, according to the data published by National Center for Biotechnology Information (NCBI), in 2015, androgenetic alopecia is most prevalent autoimmune disorder and the second most prevalent hair loss disorder and around 2% population worldwide is suffering from androgenetic alopecia.
Increasing prevalence of alopecia is expected to propel demand for its treatment drugs
According to the data published by National Center for Biotechnology Information (NCBI), in 2015, androgenetic alopecia is most prevalent autoimmune disorder and the second most prevalent hair loss disorder with around 2% population worldwide suffering from androgenetic alopecia. According the data published by Arch Argent Pediatr, in 2017, the prevalence of Alopecia areata is higher in the age group of 10 and 25 years and around 60% of people under these age group suffers from Alopecia areata. Therefore, high prevalence of alopecia is expected to propel demand for its treatment drugs, which in turn is expected to create a lucrative environment for the global alopecia treatment market growth in near future.
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 players operating in the alopecia treatment market include Histogen, Inc., Aclaris Therapeutics, Inc., Concert Pharmaceuticals, Inc., HCell Inc., GlaxoSmithKline Plc., Daiichi Sankyo, Inc., Cipla Limited, and others.