Alopecia Areata Treatment Market Projected to Gain Significant Value by 2026

Alopecia areata is a disorder related to loss of hair. It is an autoimmune disorder, wherein the immune system attacks the hair follicles and induces hair fall. Alopecia areata causes certain signs and symptoms such as bald patches, sudden loss of hair, excessive hair-fall, and itching on scalp. It leads to different types of alopecia diseases such as alopecia totalis, alopecia semiuniversalis, and alopecia universalis, where an individual suffers from facial to body hair loss..

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The risk factors associated with alopecia areata are genetic inheritance, stress, viral infections, or vitamin D deficiency. Research institutes and laboratories are focusing on delivery of alopecia areata treatment through different therapeutic and diagnostic procedures. Modulation of unique technology and approach toward diagnosis of alopecia areata ensures better functional ability to cure the common types of hair fall diseases.

However, new developments in pharmological and hair treatment approaches allow imaging of the disorder at the cellular and molecular level. This is paving the way for early diagnosis and treatment of early hair fall disorder.

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High incidence of hair fall disorders among the younger generation, rise in health effects due to environmental changes, increase in research and development initiatives, and advent of high-throughput screening (HTS) for drug discovery for alopecia areata are the key factors driving the global alopecia areata treatment market. According to the Dermatology News, 2018, alopecia areata affects approximately 75 million people across the world, including 7 million with alopecia totalis or universalis.

In Sinclair Dermatology Center, East Melbourne, nearly 30,000 patients per year get treatment for alopecia areata disorder. Increase in the number of patients with alopecia disorder and rise in awareness about therapeutics & drugs for alopecia areata treatment are projected to fuel the global alopecia areata treatment market. However, side effects of drugs and lengthy procedures are expected to hamper the growth of the alopecia areata treatment market.

The global alopecia areata treatment market can be segmented based on therapy type, distribution channel, and region. In terms of therapy type, the alopecia areata treatment market can be classified into steroids, vasodilator, anti-Inflammatory drugs, immunosuppressive drugs, UV light therapy, and others. Corticosteroid drugs is a rapidly expanding segment due to anti-inflammatory and lipid-regulating properties which is also increasingly used in clinical trials across the globe. In terms of distribution channel, the global alopecia areata treatment market can be categorized into online pharmacies, hospital pharmacies, retail pharmacies, and others.

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In terms of region, the global alopecia areata treatment market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global alopecia areata treatment market in 2017 due to increase in funding for development of research and health care infrastructure. Increase in incidence of hair fall diseases such as alopecia areata and early phase diagnosis & treatment drive the biotechnology & pharmaceutical market, which in turn is expected to boost the alopecia areata treatment market in North America.

Europe was the second largest market for alopecia areata treatment in 2017 owing to favorable government policies for expansion of health care infrastructure and hair treatment companies. The alopecia areata treatment market in Asia Pacific is likely to expand at a high CAGR during the forecast period due to increase in young population with alopecia areata disorder, changing lifestyle, rise in awareness among patients, and surge in per capita expenditure. Additionally, economic growth in India and China supports health care infrastructure and expansion of pharmaceutical companies and biotech labs.

Major players operating in the global alopecia areata treatment market include Pfizer, Inc., TetraLogic Pharmaceuticals Corporation, Johnson & Johnson, Novartis AG, Bristol-Myers Squibb Company, Cadila Pharmaceuticals, Perrigo Company plc, Teva Pharmaceutical Industries Ltd., and Schering-Plough Corporation.

About the Author

Robinson
Robinson
Robinson is a regular contributor to News Description, His excellence, and experience in business intelligence makes him a successful writer beside online news guru Robinson also contribute to various online blogs

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