Hair Loss Treatment Market 2023 Analysis With Future Scope and Outlook to 2030

The Hair Loss Treatment Market is estimated to be valued at US$ 4.24 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Hair loss treatment products such as drugs, shampoos, and conditioners are used to treat alopecia or hair loss. These products either promote hair growth or inhibit hair loss. Drugs such as minoxidil and finasteride are frequently prescribed to treat androgenic alopecia. Some key advantages of these products are that they help thicken existing hair and stimulate regrowth of lost hair.

Market key trends:

One of the key trends fueling growth of the hair loss treatment market is the increasing prevalence of alopecia. According to the National Alopecia Areata Foundation, alopecia areata affects approximately 6.8 million people in the U.S. each year. Furthermore, androgenetic alopecia or male/female pattern baldness affects around 50 million men and 30 million women in the U.S. Rising awareness about treatment options and non-invasive procedures among consumers is encouraging many individuals to opt for hair loss treatment. Technological advancements in treatment modalities such as low-level laser light therapy (LLLT) and availability of new product formulations are also supporting demand in the market.

Porter's Analysis

Threat of new entrants: The hair loss treatment market requires significant investment in R&D for new products which poses high entry barriers for new companies. Bargaining power of buyers: Buyers have high bargaining power due to availability of substitute products however brands loyalty provides some advantage to existing players. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material sources and formulations. Threat of new substitutes: Threat from new alternatives is moderate as they need regulatory approvals however herbal products pose competition. Competitive rivalry: The market is consolidated with major global players owing to patents and strong distribution networks.

SWOT Analysis

Strengths: Established brands, continuous product innovation, strong distribution networks. Weaknesses: High R&D investment requirement, supply chain challenges during pandemic. Opportunities: Untapped markets in developing countries, herbal product demand is rising. Threats: Regulatory hurdles for new products, substitute treatment options.

Key Takeaways

The global Hair Loss Treatment Market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing consumption of branded hair care products and growing prevalence of hair fall problems. Asia Pacific region dominated the market in 2023 with over 35% revenue share owing to large patient pool and rapid urbanization in major countries like China and India. North America hair loss treatment market is the second largest region due to advanced medical infrastructure and rising hair fall rates.

Key players operating in the Hair Loss Treatment market are Viviscal, Cipla Inc., Aclaris Therapeutics, Inc., Merck & Co., Inc., Daiichi-Sankyo Co., Ltd., Johnson and Johnson Services, Inc., Lexington International LLC, Vita-Cos-Med Klett-Loch GmbH, PureTech, Vitabiotics, Reddyâ€TMs Laboratories, Ranbaxy Laboratories Ltd., HCell Inc., Follica, Inc., Aurobindo Pharma, and Zydus Lifesciences Inc. These companies hold major market share owing to their product portfolio and global sales and distribution network.