The global alopecia (hair loss) treatment market is set to project a CAGR of 4.56% during the forecast period, 2021-2028. Stress, changing lifestyles, high consumption of tobacco & alcohol, unhealthy dietary habits, and rising autoimmune diseases drive the market growth.
Alopecia is an autoimmune disorder resulting in complete or partial loss of hair on the scalp in patches or entirely. The common types include Alopecia totalis, Alopecia areata, and Androgenic alopecia. Unhealthy dietary habits are evaluated to be one of the significant growth drivers. Hair follicles are metabolically active in the body. Hair growth is affected by calorie and protein malnutrition and micronutrient deficiency. It is also linked to the presence of certain nutrients in the body. A concentrated presence of such nutrients can significantly impact health, leading to possible baldness and hair loss.
The consumption of the right foods can boost nutrition, minimizing the shedding or thinning of hair. In addition, the deficiency in iron, protein, and vitamin B can cause hair loss. Moreover, vegetarians and vegans are at higher risk of iron deficiency since their need for dietary iron is eight times higher than meat consumers. Also, non-heme iron found in plants has lesser bioavailability than heme iron found in fish and meat. Overall, a balanced diet of silica, zinc, Sulphur, and vitamin C can promote healthy hair growth. At the same time, the global market growth is restricted by high costs and the risk of infections and side effects.
The global alopecia (hair loss) treatment market growth assessment includes the analysis of Europe, Asia-Pacific, North America, and Rest of World. North America is the major region with regard to revenue. Several pharmaceutical companies in the United States and Canada are working on medical solutions for the effective treatment of Alopecia.
The competitive rivalry is high, with prominent players engaged in developing new medicines through clinical trials and research. Lexington International, Johnson and Johnson, Concert Pharmaceuticals, Dr. Reddy’s Laboratories, Daiichi Sankyo, etc., are some of the leading market players.
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