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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 aim to prevent further hair loss or promote hair regrowth. The main treatment options include medications, lasers, hair transplants, and more. Medications such as minoxidil and finasteride are prescribed to treat pattern baldness. Lasers and light therapy use low-level laser/light technology to stimulate follicles and increase hair volume.
Market Dynamics:
The increasing prevalence of androgenetic alopecia (pattern baldness) across the world represents a key driver for the hair loss treatment market. According to the American Hair Loss Association, two-thirds of men will experience some degree of appreciable hair loss by age 35, and 85% of men have significantly thinner hair by age 50. Rising awareness about various hair loss treatment options also contributes to market growth. Improving consumer access to hair treatment products, both prescription and over-the-counter, further stimulates the demand.
Continuous development of novel treatment approaches, such as non-surgical hair transplants using automated follicle instruments, boosts ongoing initiatives to enhance cosmetic and medical hair loss interventions.
Read More @ https://www.coherentmarketinsights.com/market-insight/hair-loss-treatment-market-4374
Segment Analysis
The global hair loss treatment market is dominated by the topical solutions segment. Topical solutions such as minoxidil based solutions, lasers, and light therapy devices continue to be the preferred choice for the treatment of hair loss, owing to their non-invasive nature and minimal side effects. Topical solutions work by targeting the hair follicles directly and promoting hair growth in a localized manner. The popularity and increased adoption of topical solutions for hair loss have made it the largest revenue generating segment currently.
PEST Analysis
Political: The regulations governing approval and marketing of hair loss treatments vary across different geographies. Stringent FDA regulations on new drug launches could impact the US market.
Economic: Rising disposable incomes in developing nations have boosted spending on personal care products including hair loss treatments. High growth economies in Asia Pacific provide lucrative opportunities.
Social: Growing social acceptance of baldness has reduced stigma and psychological distress associated with hair loss. However, it remains a issue of self-confidence and social perception for many.
Technological: Advancements in hair transplant techniques, development of natural ingredient based topicals, and low-level laser therapies have expanded treatment options and fueled market growth.
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 consumer preference for non-invasive and natural ingredients based treatment options.
North America currently represents the largest and most profitable regional market for hair loss treatments. The US hair loss treatment market size stood at US$ 2.3 billion in 2023 and is expected to continue dominating globally, driven by high consumer awareness, technological sophistication, and growing hair loss incidence.
Asia Pacific is likely to emerge as the fastest growing regional market, expanding at a CAGR of around 7.5% through 2030 due to rising affluence, growing middle class seeking improved personal care, and increasing availability of effective hair loss treatments from both domestic and international brands.
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, Reddy’s Laboratories, Ranbaxy Laboratories Ltd., HCell Inc., Follica, Inc., Aurobindo Pharma, and Zydus Lifesciences Inc. Top companies are investing heavily in clinical trials of natural ingredients and non-invasive devices to strengthen their product portfolios.
