The global alopecia treatment market exhibited moderate growth during 2015-2020. Looking forward, the market to grow at a CAGR of around 5% during 2021-2026, according to the latest report by IMARC Group.
Alopecia is an autoimmune disorder affecting the hair follicles that prevents the growth of hair on the scalp, face and body. Often resulting in hair loss and even baldness, it is commonly caused as a result of unhealthy diets, age, lifestyle changes, hormonal imbalance and hypertension. Its treatment aims to stimulate hair growth by suppressing the immune system. Some of the widely used drugs for treating alopecia include corticosteroids, minoxidil and anthralin.
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The global market is primarily driven by significant growth in the healthcare industry. Along with this, continual technological advancements across the sector are contributing to the market growth. For instance, the increasing deployment of advanced technologies, such as low light laser therapy (LLLT) that is safer and less invasive, is creating a positive outlook for the market. Moreover, the rising preference for maintaining an aesthetic appearance among the masses due to the growing popularity of social media is acting as a major growth-inducing factor. Other factors, including the increasing healthcare expenditure and extensive research and development (R&D) activities, are also providing an impetus to the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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The report has segmented the market based on Component, Deployment Mode, Organization Size, Business Function, Industry Vertical and Region.
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