Hirsutism Market Size, Share & Trends Analysis Report By Treatment Type (Medications, Procedures), By Application, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Hirsutism Market Size & Trends

The global hirsutism market size was estimated at USD 3.1 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2030. Increasing prevalence of hirsutism among women is a major factor contributing to the market growth. According to the American Academy of Family Physicians, hirsutism affects around 7 % of women, and it is associated with an estimated economic burden exceeding USD 600 million annually in the U.S. Cosmetic and psychology problems associated with unwanted hair and rising prevalence of polycystic ovary syndrome are factors expected to drive market growth in the forecast period.

The COVID-19 pandemic, adversely impacted the hirsutism market due to the initial supply chain disruptions. According to the NCBI article,  a September 2021 study by Yale et al. examined the connection between hyperandrogenic women, including those with polycystic ovary syndrome (PCOS), hirsutism, and COVID-19. The study revealed that hospitalization among COVID-19-positive women with hyperandrogenism ranged from 4.5% to 8%, with no significant boost in mortality rates compared to 11.4%-11.7% in those without these conditions. There were no notable associations between the use of therapeutics, such as spironolactone, estradiol, and metformin, and the rate of COVID-19 infection or hospitalization among these women.

The growing prevalence of cosmetic procedures, driven by rising beauty consciousness, propels the demand for laser hair removal, particularly in the market. As individuals seek smoother, hair-free skin, laser hair removal has emerged as a preferred solution to address unwanted hair and its associated cosmetic and psychological concerns. According to the International Society of Aesthetic Plastic Surgery (ISAPS), in 2022, hair removal procedures held a significant portion of aesthetic treatments, with over 1.8 million procedures that were performed on women and men combined. This surge in hair removal procedures highlights the increasing demand for effective and long-term solutions to unwanted hair.

Hirsutism, a condition characterized by excessive hair growth in women, particularly on the face, chest, and back, cause significant distress and impact self-esteem. Unwanted hair leads to feelings of embarrassment, self-consciousness, and social anxiety, affecting an individual's emotional and psychological well-being. Laser hair removal offers a promising solution to address unwanted hair associated with hirsutism. This non-invasive procedure targets hair follicles, reducing hair growth and providing long-lasting results. With its effectiveness and convenience, laser hair removal has gained popularity among individuals seeking to manage hirsutism and regain confidence in their appearance. These factors boost market growth.

Polycystic Ovary Syndrome (PCOS) is a common hormonal disorder affecting women of reproductive age. According to an article published by the World Health Organization (WHO), the prevalence of PCOS is estimated to be between 8-13%, and up to 70% of cases remain undiagnosed. PCOS is associated with a range of symptoms, including hirsutism, excess androgen production, irregular periods, and infertility. The rising prevalence of PCOS is a significant public health concern and is driving market growth. Researchers are gaining a better understanding of the underlying causes of PCOS and are developing new treatments for the condition. This leads to more effective treatments for hirsutism, further stimulating the market growth.

Obesity is a major risk factor for PCOS. According to the CDC report, the prevalence of obesity among women varied by age group, with 39.7% of women aged 20-39 classified as obese, 43.3% of women aged 40-59, and 43.3% of women aged 60 and over. As rates of obesity continue to rise, this is likely to lead to an even greater increase in the prevalence of PCOS and, consequently, hirsutism.

Market Concentration & Characteristics

The global market is characterized by a moderate degree of innovation. While there have been significant advancements in the understanding of hirsutism and its underlying causes, treatment options remain primarily focused on symptom management rather than addressing the root cause of the condition. However, there is growing interest in developing more personalized and targeted therapies based on individual patient characteristics and genetic profiles.

Several market players, such as Ajanta Pharma, Alma Lasers Ltd., Alpaya Dermaceuticals, and Cynosure Inc., are involved in merger and acquisition activities. Through M&A activity, these companies expand their geographic reach and enter new territories. Companies are actively investing substantial resources in clinical trials and regulatory submissions to obtain regulatory approval for pipeline products. This results in increasing the cost of developing novel hirsutism technologies.

The global market is witnessing service expansion through the development of telemedicine and home-based care solutions. These advancements are enabling healthcare providers to reach a wider patient population and provide more convenient and accessible care for patients with hirsutism. Telemedicine consultations allow patients to connect with specialists from their homes, while home-based care solutions offer personalized treatment plans and remote monitoring capabilities.

Treatment Type Insights

The medications segment led the market and held the largest revenue share of 56.8% in 2023. Birth control pills, androgen-suppressing medications, low-dose steroid medications, and Insulin-lowering medications are the top medications used for the treatment of hirsutism. According to the Cleveland Clinic article, birth control pills are the most common medications used to treat hirsutism. They decrease the androgen level in women, regulate the menstrual cycle, and prevent pregnancy.

The procedures segment is anticipated to witness the fastest market growth over the forecast period. Laser therapy and electrolysis are the two procedures used to treat hirsutism. Laser therapy is primarily used procedures. According to the Ethos Spa, laser hair removal operates pulsed light to target hair at the follicles and extensively reduces hair regrowth by 90%. With laser hair removal, hirsutism patients easily manage overgrown hair without consistent maintenance. With regular use, laser hair removal also reduces hair regrowth over time. These aspects are boosting hirsutism market growth.

Application Insights

The upper lip segment held the largest revenue share in 2023 of 25.6%. In women, facial hair varies in volume and type. According to the Clinique Matrice article, it is common for women to have light facial hair on the exterior corners of the jawline and upper lip. This natural facial hair is best termed peach fuzz. Women from European countries (including Italy and Greece) and the Indian sub-content tend to have extra facial hair than women in other parts of the world.

The chin segment is estimated to register the significant CAGR over the forecast period. According to an article published by Healthline, most females have short hair on their faces, but some have more fatal hair on their chins.  This is due to genetics or age. Menopause sparks more chin, facial, or neck hair. Analysis shows that different racial groups have different levels of androgen and resulting body and facial hair. These findings highlight the potential of laser therapy as an effective and durable treatment option for excess hair growth on the chin.

End-use Insights

The others segment is estimated to register a significant CAGR over the forecast period. MedSpas, short for medical spas, are facilities that blend medical expertise with the luxury of a spa-like environment. In the context of hirsutism, Med Spas offers a unique approach, combining dermatological procedures with a focus on enhancing overall well-being. These establishments often provide advanced aesthetic treatments, such as laser hair removal or other non-invasive procedures, catering to individuals seeking both medical solutions and a rejuvenating experience. MedSpas contribute to the market by offering specialized cosmetic interventions in a more relaxed and aesthetically pleasing setting, catering to the growing demand for personalized and holistic healthcare experiences.

The dermatology clinics & aesthetic centers segment dominated the market and held a share of 52.8% in 2023. Dermatology clinics focus specifically on skin-related issues. In the case of hirsutism, dermatologists in these clinics specialize in understanding and treating conditions related to excessive hair growth. Aesthetic centers, on the other hand, offer cosmetic solutions to manage hirsutism, such as laser hair removal or other aesthetic treatments. In such clinics, skilled and certified professionals are present.  Experts at dermatology clinics are learning about new products and the adoption of technologically advanced laser hair removal products. This is attributed to the increased demand for treatment among women for hair removal. These factors boost global market growth.

Regional Insights

North America dominated the market and accounted for 41.5% share in 2023, owing to an increased number of hirsutism cases, well-established dermatology clinics, and the growing number of skilled professionals in the region. According to the NCBI article, in May 2023, about 10% of U.S. women suffer from hirsutism, the most commonly diagnosed endocrine disorder. Regardless of the underlying cause, hirsutism has the potential to cause significant emotional distress and psychological distress. These factors boost market growth.

Asia Pacific is anticipated to witness significant market growth, owing to increasing population and growing incidences of hirsutism, especially in countries such as China and India. In addition, changing lifestyles, the rising spending power of consumers, and growing medical tourism in the emerging economies of Asia Pacific are influencing market growth. According to the NCBI article, in May 2022, many Chinese women, aged 20 to 49 years were diagnosed with polycystic ovary syndrome (PCOS) in the last few years. It is estimated that 24% of Chinese women of childbearing age have PCOS.

Key Companies & Market Share Insights

• Ajanta Pharma LimitedAPL is an Indian pharmaceutical company with its registered office in Mumbai. In India and U.S., it has a strong presence in branded generics

• Alma, Inc. manufactures laser-based devices, light radiofrequency ultrasound devices, and radio frequency equipment for use in aesthetic and medical applications

• Nisim International is a producer of specialised products in the field of hair and skin care. The products are developed and manufactured in Canada by Nisim

• Scion International LLC, founded in 1974, is a group company with 10 subsidiaries worldwide. They have a business mission that runs over everything they do, to bring cologne and beauty products to every living person on earth.

Recent Developments

• In October 2022, Sensus healthcare, a medical device manufacturer specializing in highly effective, minimally-invasive, non-invasive, and cost-operative treatments for non-oncological conditions and oncological, introduced its movable silk by sensus hair removal system with blended wavelengths.

• In October 2022, Endymed was granted FDA approval for its brand new laser hair removal system to be marketed and sold.

• In March 2022, Aesthetic device company Lumenis launched splendor X device in the UK market. The device is used on any Fitzpatrick skin type and is designed for both men and women.

Hirsutism Market Report Scope

Global Hirsutism Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global hirsutism market report based on treatment type, application, end-use, and region:

• Treatment type Outlook (Revenue, USD Million, 2018 - 2030)

  • Medications

  • Procedures

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Upper Lip

  • Chin

  • Chest

  • Arms

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Dermatology Clinics & Aesthetic Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030) 

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait