The North America Alopecia Market was worth USD 3.24 Billion in 2023 and is estimated to be growing at a CAGR of 8.21% to reach USD 4.81 Billion by 2028.
Alopecia is a medical condition that refers to sudden, excessive hair loss on the head area, mostly in circular patches. One such type of alopecia - Alopecia areata is a common autoimmune disease that causes baldness that results in partial or complete hair loss.
The North America Alopecia market growth is primarily fuelled by key factors such as the growing emphasis on aesthetics, the well-established presence of pharmaceutical enterprises working toward the successful treatment of alopecia, rising disposable income, and higher alcohol consumption. Other factors such as the High prevalence of hair loss, chronic disorders related to hair loss, and rising healthcare expenditure for alopecia treatment propel the market growth. The demand for painless treatments with minimum side effects is propelling the treatment rate as people become more aware of hair loss.
Several causes, including aging, hormonal imbalance, and the rising prevalence of cancer, arthritis, hypertension, and depression, cause alopecia. As a result of the rising prevalence of alopecia, the treatment market is expected to rise significantly in the future years. Therefore, in this region, the number of people seeking alopecia treatment is particularly significant.
Regulatory bodies have approved many innovative medications to treat alopecia, and many more are in the pipeline and expected to be approved soon. For example, in January 2018, the United States Food and Drug Administration (FDA) granted Concert Pharmaceuticals Inc. fast-track status for its new medication for the treatment of moderate to severe alopecia areata. The introduction of such innovative products to propel the alopecia treatment market forward in the near future.
However, The North America alopecia market is projected to be hampered by the patent expiration of many blockbuster drugs and the negative effects of existing hair loss treatment methods.
This research report on the North America alopecia market has been segmented and sub-segmented into the following categories:
By Disease Type:
By Sales Channel:
By End Use:
Rest of North America
North America alopecia market accounts for the largest share due to the availability of technologically advanced healthcare infrastructure, high disposable income, and the presence of novel therapeutics alternatives relevant to the treatments.
The North American alopecia treatment market includes Canada and the United States. Alopecia is treated in Canada by a number of non-profit organizations as well as hair specialist salons. In this context, the Canadian Alopecia Areata Foundation (CANAAF), a charitable organization based in Canada, is primarily dedicated to treating the disorder. It mainly provides assistance to Canadians who have been diagnosed with alopecia areata. The organization also supports autoimmune diseases education and awareness, as well as raising significant funds for research.
The United States is anticipated to witness the largest share of the American Alopecia Market during the forecast period. This is because obesity and stress levels have increased significantly in the United States. Furthermore, the country’s high disposable income and rising consumer spending on grooming items are essential factors. As a result, these factors, combined with rising alopecia awareness, are expected to drive the growth of the North America alopecia treatment market throughout the forecast period.
According to the United States National Library of Medicine, alopecia areata affects one in every 500 to 1,000 people in the United States. Alopecia areata, the second most common form of alopecia after androgenetic alopecia, is a known alopecia. Men and women alike are affected by alopecia areata, which can affect people of any ethnic background. As a result, the high frequency of hair loss in the United States and the proportionally high treatment rates are important market drivers in the North American alopecia market.
KEY MARKET PLAYERS:
Johnson & Johnson, Inc., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Cipla Ltd., Cellmid Ltd., The Himalaya Drug Company, Taisho Pharmaceutical Holdings Co., Ltd, Shiseido Co., Ltd and Zhangguang 101 Science & Technology Co., Ltd are a few of the noteworthy companies in the North America alopecia market.
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