DUBLIN–(BUSINESS WIRE)–The “Global Alopecia Treatment Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global alopecia treatment market is projected to grow at a CAGR of 8.44% to reach US$6,243.741 million by 2027, from US$3,539.835 million in 2020.
Increasing cases of the alopecia areata, which is considered one of the common autoimmune diseases and affects many individuals, leads to an increased demand for different types of medications to treat the condition. Alopecia areata is considered one of the common autoimmune diseases that result in hair loss in different body areas, including the scalp, face, and elsewhere.
The most common symptoms of this condition start during the childhood of all males and females and affect males and females of all ages. According to the National Alopecia Areata Foundation (NAAF) estimates, approximately 6.8 million people alone in the US and 147 million people worldwide suffer from or will suffer from this condition at some point in their lives. Alopecia areata patchy, alopecia areata totalis, and alopecia areata Universalis are the most common types of alopecia areata.
The Alopecia area has three types, including alopecia areata patchy, alopecia areata totalis, and alopecia areata Universalis, among others.
Although the condition alopecia areata is not curable, the condition can be treated as the hair follicles remain alive, and normal hair growth can be resumed if the treatment and medication are taken. Sometimes, however, hair growth can resume even without undergoing treatment or consuming medications. Hence, these factors lead to a surge in demand and cause the market’s growth to propel over the forecast period.
Some individuals are consuming oral and topical medicals, including steroids, azathioprine, methotrexate, and ciclosporin, among others. These types of medications affect the immune systems of these patients and lead to the weakening of their immune systems, thus making them more prone to being infected by a coronavirus.
In addition, the use of topical medications such as creams, lotions, and steroidal injections will also need to cause an increase in the chances of contracting the coronavirus. Therefore, these factors lead to an increase in awareness among individuals to avoid using a medicine containing such components to mitigate the risk of coronavirus infection.
Covid-19 Impact
The Alopecia Treatment Market was negatively impacted by the Covid-19 for a short period owing to the healthcare provided prior attention to the disease outbreak. All the focus is on treating the disease while halting all the other treatments for a while, which has impacted the market for the alopecia treatment.
Key Development
May 2022, THRIVE-AA1, the first of two Phase 3 trials to analyse the safety and efficacy of CTP543 in adult patients with severe alopecia areata, has yielded positive results for Concert Pharmaceuticals. THRIVE-AA2, a second Phase 3 trial, is currently underway.
January 2021, Follicum AB announced that the Phase IIa study with FOL-005 for hair loss treatment had finished and the patients involved in the study made their last visit to the clinics. The study looks at the safety and effectiveness of various doses of the potential drug FOL-005 in over 200 male subjects.
In March 2020, The US Food and Drug Administration has approved New Drug recognition for baricitinib for the therapies of alopecia areata (AA), an autoimmune condition that can end up causing unpredictable hair loss on the face, scalp, and other parts of the body, according to Eli Lilly and Company and Incyte Corporation.
Companies Mentioned
- Concert Pharmaceuticals.
- Eli Lilly and Company
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd.
- GlaxoSmithKline plc
- Cipla
- HCell Inc.
Market Segmentation:
By Condition Type
- Alopecia Areata
- Alopecia Totalis
- Alopecia Universalis
By Medication Type
- Oral
- Topical
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- UK
- Germany
- France
- Spain
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Asia Pacific
- Japan
- China
- India
- South Korea
- Thailand
- Indonesia
- Taiwan
For more information about this report visit https://www.researchandmarkets.com/r/58hgyn
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