Global Anti-Hair Loss Medicine Market
Global Anti-Hair Loss Medicine Market Size Steadily Raising to Touch USD 33 Billion by 2029
Published | 08 May 2023
Global anti-hair loss medicine market is flourishing because of a spurring demand for personalized hair loss treatment, increasing prevalence of hair loss, and the availability of a wide range of hair loss treatments and products.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global anti-hair loss medicine market size at USD 24.41 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global anti-hair loss medicine market size to grow at a steady CAGR of 4.48% reaching a value of USD 32.93 billion by 2029. Major growth factors of global anti-hair loss medicine market include increasing prevalence of alopecia or hair loss among the global population, rapidly aging population, changing lifestyles, and increasing awareness and acceptance of hair loss treatments. Hair loss can be caused by various factors, such as genetics, hormonal imbalances, stress, and medical conditions. Consequently, there is a considerable demand for effective treatments and remedies to prevent or reverse hair loss. Recently, the use of natural and herbal remedies for hair loss, including herbal oils, shampoos, and supplements, has been gaining popularity. The advancement of technology has led to the development of innovative hair loss solutions, such as laser caps and helmets, scalp micropigmentation, and platelet-rich plasma therapy. Also, the rise in disposable incomes and the desire for improved aesthetics have resulted in an increased demand for hair restoration products. Hence, boosting the expansion of global anti-hair loss medicine market during the forecast period. However, limited efficacy of some hair loss medicines and social stigma associated with hair loss leading to a reluctance to seek treatment are anticipated to restrain the growth of global anti-hair loss medicine market.
Global Anti-Hair Loss Medicine Market – Overview
The anti-hair loss medicine market refers to the industry that involves the development, manufacturing, and marketing of pharmaceuticals and other treatments designed to prevent or reduce hair loss or alopecia. Hair loss has become a significant concern for many individuals in today's world due to various internal factors, such as hormonal imbalances, major illnesses, aging, and others. The market for hair loss treatment products is growing rapidly as there is a rising demand for treatments for androgenetic alopecia, a hair problem that affects women, men, and children, leading to baldness and requiring medication. For instance, the American Academy of Dermatology reports that more than 40% of women globally experience hair loss issues by age 40 due to hormonal imbalances and other reasons. Additionally, increasing stress levels resulting from the ever-changing lifestyles have contributed significantly to the prevalence of hair loss. As the demand for hair loss treatment products continues to rise globally, manufacturers are introducing new and innovative products to address this concern. By targeting conscious consumers and revitalizing their product portfolios, manufacturers are aiming to attain a larger market share. As a result, the global anti-hair loss medicine market is expected to experience significant growth in the coming years.
Impact of COVID-19 on Global Anti-Hair Loss Medicine Market
COVID-19 had a detrimental impact on the global anti-hair loss medicine market. The pandemic disrupted supply chains and caused significant economic slowdowns, leading to a decrease in demand for non-essential products, including hair loss treatment products. Lockdowns and social distancing measures also affected the availability of hair loss treatment services, such as hair transplant surgeries and in-clinic treatments, which led to a shift towards home-based treatments and products. However, the pandemic also led to increased stress levels, which can exacerbate hair loss. It drove demand for hair loss treatment products, particularly those that can be used at home.
Global Anti-Hair Loss Medicine Market – By Type
Based on type, the global anti-hair loss medicine market is bifurcated into Product and Medicine segments. The product segment holds a higher share in the global anti-hair loss medicine market by type. The product segment includes shampoo & conditioner, oil, and serum. The shampoo conditioner segment holds the highest market share, while the oils segment is expected to record the highest compound annual growth rate (CAGR) during the forecast period. The popularity of shampoos and conditioners is due to their widespread use, and the unisex segment was the most widely used. On the other hand, the men's segment is expected to witness growth at a higher CAGR during the forecast period, primarily driven by the increasing demand for hair loss prevention products among young men. While most manufacturers offer a range of unisex hair care products, such as shampoos, conditioners, oils, and serums, they are now revitalizing their product portfolios to target specific customers by introducing new products at affordable prices to gain a larger market share.
Major players operating in global anti-hair loss medicine market include Merck & Co., Inc., Johnson & Johnson, Dr. Reddy’s Laboratories Ltd., Cipla Inc., Sun Pharmaceutical Industries Ltd., Histogen Inc., Concert Pharmaceuticals, Inc., Aclaris Therapeutics, Inc., Follicum AB, Polichem S.A., Cassiopea SpA, PureTech Health, Kythera Biopharmaceuticals, Inc., Kerastem Technologies, and HairClone. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Anti-Hair Loss Medicine Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Anti-Hair Loss Medicine Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Anti-Hair Loss Medicine Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Type (Product, Medicine); By Gender (Male, Female); By End User (Dermatology Clinics, Hospitals, Home Care Setting); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: May 2023
Increasing prevalence of hair loss among the global population, growing availability of a wide range of hair loss treatments and products, and a spurring demand for personalized hair loss treatment solutions are projected to propel the expansion of the global anti-hair loss medicine market during the forecast period between 2023 and 2029.
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