PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378470
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378470
Global alopecia treatment market is estimated to be valued at US$ 9.65 Bn in 2023, and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 9.65 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 5.60% | 2030 Value Projection: | US$ 14.16 Bn |
Alopecia is a medical term that is used to describe the partial or complete loss of hair from areas of the body where hair is normally found. This condition can affect the scalp, eyebrows, eyelashes, beard, or any other part of the body where hair grows. Alopecia can be temporary or permanent, and can occur due to a variety of factors including genetic predisposition, hormonal changes, autoimmune disorders, medical treatments, and certain environmental or psychological factors. There are several types of alopecia, each with distinct characteristics and underlying causes. These include alopecia areata (characterized by patchy hair loss), androgenetic alopecia (commonly known as male-pattern or female-pattern baldness), telogen effluvium (sudden and widespread hair shedding), traction alopecia (caused by repeated pulling or tension on the hair), and others.
The key players in operating in the market are focusing on organic growth strategies such as fund raising for alopecia is expected to propel the global alopecia treatment market growth over the forecast period. For instance, in July 2023, Mallia Therapeutics GmbH, a biopharmaceutical company that is developing soluble CD83 (sCD83) for the treatment of hair loss, announced that it had secured its seed financing. The company plans to develop the sCD83 candidate based on preclinical and ex vivo human data, presented at the 20th meeting of the European Hair Research Society (EHRS) held in Sheffield, UK, in June 2023. sCD83 can be applied topically to reach the hair follicle, which is a big advantage as compared to systemic treatment options. Mallia Therapeutics GmbH develops the dual mode of action of sCD83 for the treatment of hormone-induced male or female pattern baldness (= androgenetic alopecia) and autoimmune mediated male or female patchy hair loss (= alopecia areata), the two most prevalent forms of hair loss. Moreover, increasing research and development activities for alopecia treatment is expected to drive global alopecia treatment market growth over the forecast period. For Instance, In November 2022, Equillium, Inc., a clinical-stage biotechnology company, announced that it had initiated a Phase 2 open-label study of EQ101 to assess efficacy and safety in adult subjects with moderate to severe alopecia areata. The study is expected to enroll approximately 30 subjects at multiple clinical sites in Australia.