Androgenetic Alopecia Market to Reach $7.31 Billion by 2034

Androgenetic Alopecia Market Companies, Trends and Announcements

The global androgenetic alopecia market size was estimated at US$ 2.98 billion in 2023 and is projected to grow to US$ 7.31 billion by 2034, rising at a compound annual growth rate (CAGR) of 8.49% from 2024 to 2034. The demand for androgenetic alopecia is increasing due to growing unhealthy lifestyles and pollution, which is leading to severe hair loss.

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Androgenetic Alopecia Market Overview

An overreaction to androgens causes androgenetic alopecia, a genetically established condition. The gradual loss of the scalp's terminal hair at any point after puberty is the hallmark of this disorder, which affects up to 50% of both males and girls. The production and distribution of drugs and equipment for the treatment of androgenetic alopecia are linked to the androgenetic alopecia market. The most prevalent kind of baldness, androgenetic alopecia (AGA), is characterized by gradual hair loss. Although incidence rates vary, AGA can affect people of all races. Caucasians are thought to have the highest prevalence. Prevalence rates are around 30% for males in their 30s, 40% for men in their 40s, and 50% for men in their 50s in Caucasian populations.

Androgenetic Alopecia Market Trends

• In July 2024, a pharmaceutical business, including the New Brunswick Innovation Foundation, raised $4 million in a funding round to treat Androgenetic Alopecia, a kind of genetic hair loss.
• In February 2024, the clinical-stage regenerative medicine startup Pelage Pharmaceuticals, which is developing a novel approach to hair loss therapies, said today that it has secured a $16.75 million Series A funding round led by GV.

Androgenetic Alopecia Market Opportunity: Stem Cell Therapy

Recent advancements in this field—including new medications, stem cell research, successful hair transplants, clinical trials, and a better understanding of genetics—indicate that a long-term solution to baldness may be imminent. Research on stem cells as a potential treatment for baldness is encouraging. In order to heal damaged tissue, these cells have the capacity to change into different types of cells within your body.

Market Challenge: Treatment Efficacy

Physicians say that maintaining therapy effectiveness and patient satisfaction over the long term is a major difficulty in the treatment of androgenetic alopecia.

Regional Insights

North America dominated the androgenetic alopecia market in 2023. motivated by the existence of important industry participants and the rising incidence of hair loss in the general public. Customers may spend on cutting-edge therapies, which are frequently more expensive, because of the region's high level of disposable income. Furthermore, a strong healthcare infrastructure that supports research and development encourages the creation of novel treatment solutions. North America's leading market position is further cemented by the fact that it remains a center for the most recent developments in hair loss treatments.

Asia Pacific is expected to grow at a significant rate during the forecast period. An increase in the prevalence of respiratory conditions, such as chronic respiratory illnesses and other dysfunctions, is the main factor driving this expansion and increasing the need for efficient respiratory care solutions. Additionally, continued advancements in healthcare infrastructure make it easier to obtain cutting-edge medical treatments, especially in the region's growing economies. Asia-Pacific is positioned as a major growth region throughout the projection period due to these reasons, as well as higher healthcare investments.

Segmental Insights

By gender, the male segment dominated the androgenetic alopecia market in 2023. By the age of 50, 30 to 50 percent of males suffer from male androgenetic alopecia (MAA), the most prevalent kind of hair loss in men. It is generally known that there is a family tendency to MAA and that the frequency varies by race, with genetics explaining around 80% of the risk.

By treatment, the pharmaceuticals segment held the largest share of the androgenetic alopecia market in 2023. The most often used treatments for this illness are minoxidil and 5-alpha reductase inhibitors, while there are other options as well.

By treatment, the devices segment is estimated to grow at the fastest rate during the predicted timeframe. FDA-approved laser hair growth devices are used in laser hair therapy, often known as low-level laser therapy or LLLT. There are many different sizes and types of laser hair treatment equipment. Devices such as a laser comb, brush cap, helmet, and hood that people may wear or apply to their heads have received FDA approval.

By end-use, the dermatology clinics segment dominated the androgenetic alopecia market in 2023. Medical clinics offer cutting-edge treatment facilities together with medical help. By providing hassle-free medical consultations, it has simplified patients' life. Let's learn more about the significance and advantages of medical centers in depth.

By end-use, the homecare settings segment is estimated to grow at the fastest rate during the forecast period. The visual aspects of telehealth allow patients to develop a relationship with health care professionals over time, and patients can experience a possible support system that may allow them to stay at home.

By sales channel, the prescription segment dominated the androgenetic alopecia market in 2023. More powerful pharmaceuticals that help treat moderate to severe health issues are prescription meds. These medications are necessary to maintain a person's long-term health.

By sales channel, the OTC segment is expected to grow at a significant rate during the forecast period. The FDA has concluded that the advantages of over-the-counter medications outweigh any potential dangers or adverse effects, and they are low in toxicity. For self-diagnosed diseases, these drugs are similarly simple to use. They are well-labeled with usage instructions, cautions, and directions. Compared to prescription drugs, they are frequently less effective.

Top Companies in the Androgenetic Alopecia Market

• Theradome Inc.
• Apira Science, Inc. (iGROW Laser)
• Curallux, LLC
• Freedom Laser Therapy, Inc. (iRESTORE Hair Growth System)
• Lexington Intl., LLC
• Aurobindo Pharma
• Dr. Reddy’s Laboratories Ltd.
• Merck & Co., Inc.
• Sun Pharmaceutical Industries Ltd.
• Cipla, Inc.
• Johnson & Johnson Services, Inc.

Recent Announcements by Industry Leaders

Developing new medicines to cure androgenic alopecia (hair loss), which is thought to impact over 50 million men and over 30 million women in the US alone, is the primary goal of Amplifica, a biopharmaceutical business. The business has discovered and separated distinct signaling molecules that promote hair follicle growth. To assess the safety and effectiveness of its fundamental technology, Amplifica will start clinical studies and secure the necessary regulatory clearances.

Recent Developments

• In January 2024, after the candidate showed promising results in a Phase Ib trial, Hope Medicine began recruiting for a Phase II trial evaluating its monoclonal antibody HMI-115 for androgenetic alopecia.
• In October 2022, a San Diego biotech business called Amplifica Holdings Group raised $11.8 million in its first round of venture capital funding to help balding individuals grow back their hair.

Segments Covered in the Report

By Gender

• Male
• Female

By Treatment

• Pharmaceuticals
• Devices

By End-use

• Dermatology Clinics
• Homecare Settings

By Sales Channel

• Prescriptions
• OTC

By Region

• North America
  • U.S.
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait