Alopecia Market to emerge with 9.4% CAGR over 2020-2026

Alopecia Market

Global Alopecia Market

2020 Alopecia Market Size, Share and Trend Analysis Report to 2026- Growth Opportunities and Competitive Analysis

MEXICO, UNITED STATES, April 8, 2020 /EINPresswire.com/ -- The factors driving Alopecia Market growth are increasing prevalence of disease due to changing lifestyle habits of individuals coupled with increased knowledge of Alopecia care.

According to studies of National Alopecia Areata Foundation (NAAF), about 147 million people are affected by alopecia areata worldwide.

In men alopecia is quite common than in women. In addition, alopecia areata is extremely prevalent in people aged 12-50 due to increased cases of smoking, physical stress and alcohol intake.

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Growing research and development activities to develop new methods and therapies along with securing FDA approvals are key strategic strategies that pave the way for market expansion in alopecia over the forecast period 2020-2026.

The major players in the market are heavily investing in R&D to develop innovative oral & topical agents with high potential to treat alopecia with more efficacies.

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Basic aspects of alopecia market size regionally

North America retains the largest market share due to some of the factors that lead to the North American market growth, such as the upsurge of technical advancements and new product innovations.

Widening the prevalence of illness, technical advances, new product production and rising disposable income are few contributing factors to the market share of North America.

Approximately 6.8 million people in the United States are affected by alopecia areata, further geriatric population base and increasing consumption of alcohol are some of the additional factors that are likely to increase the growth of the alopecia market in these region.

Whereas, economic growth and increased per capita healthcare spending to generate strong commercial opportunities in developing countries of Asia Pacific such as India, China and others.

Additionally, growing number of transplant and restore operations, combined with widespread use of prescription drugs to make a major contribution in the developing countries of the Asia Pacific region.

However, Europe, Latin America, Middle East and Africa to have an indolent growth over the estimated time period.

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Expansion in R&D activities, key tactics by pharmaceutical concern to aid alopecia patients
Progress in research and development activities coupled with novel strategies by key players to trigger the market growth.

For example, conferring to the data of REVIAN, Inc., a low-level light therapy device REVIAN Red will be safe and effective alternative to other treatments for androgenic alopecia.

Further, in 2020, Concert Pharmaceuticals proclaimed plans for CTP-543 phase 3 to severe alopecia areata. Also, in the year 2020, Lilly and Incyte Corp received a Breakthrough Therapy description to baricitinib for the treatment of alopecia areata from The Food and Drug Administration (FDA).

In addition, in 2020, Histogen Inc., has submitted an Investigational New Drug (IND) amendment with the U.S. Food and Drug Administration (FDA) for the initiation of its lead program, HST 001 for the treatment of androgenic alopecia in men.

Moreover, in 2019, Follica reveals positive topline data from clinical study in male androgenetic alopecia and to select the optimal treatment regimen using Follica’s proprietary device.

Other prominent players in the alopecia market include Johnson and Johnson Services, Inc., Sun Pharmaceutical Industries Ltd., Cipla Inc., Lexington International LLC, Merck & Co., Inc., Vita-Cos-Med Klett-Loch GmbH, Cirrus Hair Centers, Transitions Hair Pty Ltd., Capillus, and Follica, Inc. among others.

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Ambarish Ram
OG Analysis
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