The global alopecia drugs market was valued at US$ 6,901.8 Mn in 2016 and is projected to reach US$ 10,992.9 Mn in 2026 at a CAGR of 4.8% from 2017 to 2026. The topical segment in the global alopecia drugs market accounted for a major revenue share of 69.8% owing to factors such as easy absorption of medications by hair follicles, along with easier administration and application as compared to other forms. Alopecia drugs are medications that are used to treat hair loss in the individuals. These drugs are available in different forms such as topical, oral and injectable. Alopecia drugs are primarily used to treat patchy hair loss in men and women. For instance, corticosteroids can help in hair regrowth within a year as it reduces inflammation and suppresses the immune system.
Major factors fueling the growth of the global alopecia drugs market include sedentary lifestyle, decreased physical activity among younger individuals, and increasing stress levels. Excessive or improper use of styling products for hair is another factor causing hair loss. Certain prescription drugs such as blood thinners, high dosage vitamin tablets, and medications for depression, arthritis, heart problems, and high blood pressure are other factors leading to early hair loss in individuals. Hair loss due to treatments such as radiation therapy and chemotherapy are other causes. Increasing clinical trials and R&D to develop new drugs to regrow hair with less or no side effects is resulting in the launch of newer products in the market. However, high cost of medications for alopecia treatment is hampering adoption of some alopecia drugs and treatments.
Companies profiled in the report are Cipla Inc., Reddy’s Laboratories Ltd., Johnson & Johnson, Merck & Co., Ranbaxy Laboratories Ltd., The Himalaya Drug Company, Taisho Pharmaceutical Holdings Co., Sun Pharmaceutical Industries Ltd. and Others.