Alopecia Areata Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, GREATER LONDON, UK, October 20, 2023 /EINPresswire.com/ -- 2027 Market Size Projection
The global alopecia areata market is expected to reach $4.35 billion in 2027 at a CAGR of 7.1%.

Growing Prevalence of Hair Loss Driving Market Growth
The escalating prevalence of hair loss is expected to drive the alopecia areata market forward. Disruption of the body's normal hair growth cycle leads to hair loss, a condition that can be addressed through corticosteroids, potent anti-inflammatory medications that inhibit the immune system. An article by the Hair Society revealed that globally, around 21 million women and 35 million men experienced hair loss in March 2022. Notably, the majority of people begin to lose their hair at age 35, with rates increasing to 40% for men at 80. Women, on the other hand, account for 80% or more cases of hair loss by the age of 60.

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Innovative Drug Approvals Transforming the Market Landscape
A key trend in the alopecia areata market is the pursuit of innovative drug approvals by major companies. Notably, Pfizer Inc. announced the FDA's approval of LITFULOTM (ritlecitinib) in June 2023, serving as the first treatment for severe alopecia areata approved for patients as young as 12. Sun Pharmaceutical Industries Limited's acquisition of Concert Pharmaceuticals in March 2023, for $576 million, further illustrates the industry's focus on enhancing its dermatology portfolio.

Major Players Paving the Way
Key players in the alopecia areata market include Pfizer Inc., Merck & Co. Inc., AbbVie Inc., and other prominent pharmaceutical companies.

Region-Wise Analysis
In 2022, North America held the largest share in the alopecia areata market. The Asia-Pacific region is projected to witness the most rapid growth during the forecast period. Regions covered in the report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.

Market Segmentation:
• Type: Patchy Alopecia Areata, Alopecia Totalis, Alopecia Universalis, Diffuse Alopecia Areata, Ophiasis Alopecia, Other Types
• Treatment: Medical Treatments, Natural Treatment, Other Treatments
• Diagnosis: Trichoscopy, Skin Biopsy, Other Diagnoses
• Route of Administration: Oral, Topical, Parenteral, Other Routes of Administration
• End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users

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Alopecia Areata Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Alopecia Areata Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on alopecia areata market size, alopecia areata market drivers and trends, alopecia areata market major players, competitors' revenues, alopecia areata market positioning, and alopecia areata market growth across geographies. The alopecia areata market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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