Alopecia treatment products are used to treat hair fall problems and promote hair growth. With rising preference for aesthetic appearance, the demand for effect alopecia treatments is growing significantly. New product launches with innovative formulations that target hair regrowth in a natural way are some of the primary growth drivers.
The global Alopecia Treatment Market is estimated to be valued at US$ 9.65 Bn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
New product launches are accelerating market growth as it provides more options for consumers and drives competition. Major companies are investing heavily in R&D to develop advanced treatment options. Recently, Stemson launched a new hair density serum containing natural DHT blockers, microneedle technologies and stem cell nourishing compounds. The product stimulated dormant hair follicles and promoted hair growth within 3-6 months of use. Such innovative offerings are gaining popularity rapidly and expanding the alopecia treatment market size.
Segment Analysis
The Global Alopecia Treatment Market Analysis is segmented into Alopecia Areata, Androgenetic Alopecia, Traction Alopecia, and others. The androgenetic alopecia segment currently dominates the market owing to its high prevalence. Androgenetic alopecia, commonly known as male or female pattern baldness, is the most common form of hair loss affecting over 50 million men and 30 million women in the US.
Key Takeaways
The global alopecia treatment market is expected to witness high growth over the forecast period of 2023 to 2030.The market size is projected to reach US$ 9.65 Bn by 2024.
Regional analysis: North America currently dominates the alopecia treatment market and is expected to continue its dominance over the forecast period. This can be attributed to the rising awareness regarding hair fall treatment options as well as the strong presence of key players in the region.
Key players: Key players operating in the alopecia treatment market are Stemson Therapeutics, Inc. Stemson Therapeutics is developing hair follicle neogenesis therapies to treat androgenetic alopecia by regeneration of functional hair follicles de novo in balding scalp areas.
Get more insights on this topic: https://www.trendingwebwire.com/alopecia-treatment-market-size-and-share-analysis-growth-trends-and-forecasts-2023-2030/
