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(Health-NewsWire.Net, September 30, 2021 )
Market Overview
Hair-loss also was known as alopecia or baldness is a medical condition that refers to the loss of hair from the head or any part of the body.
It causes clumps of hair to fall out which leads to hairless patches on the scalp or other areas of the body. Hair-loss occurs in both males and females regardless of their age. It is of five types, alopecia areata, androgenic alopecia, cicatricial alopecia, traction alopecia, and alopecia totalis.
Androgenic alopecia is commonly known as male pattern baldness and female pattern hair loss. There are very few approved treatment drugs for the treatment of hair loss.
According to the American Hair Loss Association, by the age of 50, about 85% of men and 40% of women experience thinning hair in the US. Hair-loss is mainly genetical but can be caused by some other factors like sedentary lifestyle, unhealthy diets, aging and hormonal imbalance and increasing chronic diseases like arthritis, cancer, hypertension, and depression.
The prevalence rate of hair-loss is high among the working-age population. As per the International Society of Hair Restoration Surgery, 84.6% of individuals who got hair-loss treatment in 2018 were due to genetic hair loss.
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Market Dynamics
The significant drivers driving the market are changing lifestyle patterns, adoption of a hectic schedule that increases stress levels, which in turn results in frequent hair loss at earlier stages among the young population, growing disposable income and increased emphasis on appearances.
According to National Alopecia Areata Foundation (NAAF), the prevalence of hair loss has increased in the age group of 10 to 25 years in the last decade, and around 60% of this age group suffers from hair loss. As per the American Hair Loss Association, more than 66% of men below the age of 35 experienced hair loss problems in the year 2018. Besides, about 85% of the men below the age of 55 are expected to face thinning of hair. More than 21 million women are suffering from severe hair loss problems with about 40% of them getting active treatments.
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Geographical Analysis
Geographically, the global hair loss medication market is divided into North America, Europe, South America, Asia-Pacific and the rest of the world.
North America is having a huge market for hair loss medication and is going to dominate the market throughout the forecast followed by Europe.
According to the American Hair Loss Association, more than 80 million men and women are suffering from hair loss problems in the US alone. There are many positive initiatives taken by organizations such as NAAF and the American Hair Loss Association.
The Children Alopecia Project by the American Hair Loss Association is dedicated to making investments in Children Support Groups and promote research and development activities in hair-loss treatment for children.
Bald Truth is a radio program that is spreading awareness about the different types of alopecia affecting people and about the various products used for the effective treatment of alopecia that is currently available in the market.
Competitive Analysis
Cipla, Merck & Co., Johnson & Johnson, Lifes2good, Dr. Reddys Laboratories, Sun Pharma, Kirkland Signature, Histogen Inc., GlaxoSmithKline plc. And L`Oreal S.A. is some of the major players in the market.
In May 2018, Histogen, Inc., received approval of its investigational new drug application from the U.S. Food and Drug Administration (FDA) to study its first product Hair Stimulating Complex (HSC660) in female diffuse hair loss. HSC660 is an investigational injectable treatment for alopecia and is expected to get FDA approval shortly.
In April 2018, Concert Pharmaceuticals, Inc., finished patient recruitment for Phase 2a trial evaluating CTP-543 for the treatment of moderate-to-severe alopecia areata.
Related Topic's
Haircare Products Market, Hair Fixative Polymer Market, Hair Styling Tools Market, Alopecia Treatment Market, Alopecia Medication Market
DataM Intelligence
Sai Kiran
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