In their report titled "Alopecia Treatment Market Forecast, 2020-2027," The alopecia treatment market. According to the report, the size of the global market in 2019 was USD 8.89 billion. The size of the global market for alopecia treatments is anticipated to reach USD 13.45 billion in 2027, growing at a CAGR of 5.2% over the forecast period of 2020–2027. regardless of age or gender, an increasing number of people are experiencing hair loss. Both men and women who have alopecia areata experience patchy hair loss as a result of their medical condition. Hair loss on the scalp, brows, eyelashes, and face is ultimately caused by the immune system of the body attacking the hair follicles.
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Market Drivers
Massive Investments in Clinicals will Augment Growth
Various factors are responsible for the alopecia treatment of market growth. These include increasing adoption of a sedentary lifestyle, binge eating habits, cigarette consumption, and others that ultimately weaken the immune system. In addition to this, there is heavy investment in hair transplantation systems, and this will also add impetus to the market in the forecast period.
On the flip side, factors such as the side effects associated with this treatment procedure such as ejaculation disorders, impotency, enlargement or tenderness of breasts, and testicular pain may pose a major hindrance to the market in the coming years. Nevertheless, increasing investments in research and clinical trials are likely to create lucrative growth opportunities for the market in the coming years.
Regional Segmentation
The Middle East and Africa Market to Witness Remarkable Growth with Rising Medical Tourism
Asia Pacific earned a revenue of USD 3.11 Billion in 2019 and emerged as dominant. This is attributed to the rising prevalence of alopecia in the region. Various studies state that the increasing population and adoption of a sedentary lifestyle will add impetus to the market in this region. This, coupled with the rising consumption of cabbage may lead to weaker immune systems and increased stress levels, thereby leading to hair fall.
Additionally, the aggressive regional penetration and the increasing number of hair treatment companies setting up bases will further help this region continue earning the largest alopecia treatment market share in the coming years.
On the other side, the market in the Middle East and Africa is expected to witness significant growth in the coming years on account of the rising number of hair procedures to keep at par with aesthetic beauty standards. This, coupled with tremendous growth potential from the UAE and Saudi Arabia, attributed to rising medical tourism will also help this market grow remarkably.
Competitive Landscape
Heavy Investments on Clinical Studies will Bode Well for Players
The global market for alopecia treatment is fragmented in nature on account of the presence of many companies. Players offer a variety of alopecia product portfolios including restorative hair treatment, scalp injectables, and topical and oral treatment. Heavy investments are made on clinical research and development for innovative product launches. The industry share for this market has remained low in the past few years and is further expected to remain stagnant in the forthcoming years.
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