Androgenetic Alopecia Market To Reach $4.76 Billion By 2030

Androgenetic Alopecia Market Growth & Trends

The global androgenetic alopecia market size is anticipated to reach USD 4.76 billion by 2030 and is anticipated to expand at a CAGR of 8.45% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing prevalence of androgenetic alopecia is one of the crucial factors driving the market growth. According to data published by the American Hair Loss Association, over 95% of hair loss in men is caused due to androgenetic alopecia. The occurrence of hair loss in men increases proportionately with age. On the basis of the report published by the International Society of Hair Restoration Surgery, in men, it is estimated that 40% of hair loss is encountered by the age of 35 years, 65% at 60 years, 70% at 80 years, and 80% at the age of 85 years.

Moreover, the market growth can be attributed to advancements in technology, including the introduction of a low-level laser therapy, which helps stimulate hair growth. Likewise, the introduction of several laser combs and hair massagers or brushes is also boosting the market. For instance, Lifemax Infrared Hairbrush, Follinex Massager Comb, and Hairmax Laser Comb are some of the technologically advanced products available in the market. Most clinical-based settings offer combination therapy of non-ablative laser treatment and topical application of medicinal products for better results. Microscopic injuries created by laser devices create a favorable wound-healing environment that triggers hair regrowth.

Furthermore, the increasing incidence of chronic diseases such as cancer is anticipated to offer lucrative opportunities for market growth. For instance, according to the latest report by Globocan, the incidence of cancer was estimated to be 19,288,916 in 2020 globally. Certain medications prescribed to patients for the treatment of cancer are also responsible for hair loss. For instance, chemotherapeutic agents, radiation therapy, hormone therapy, and immunotherapy are more likely to induce hair loss or hair thinning. Cancer incidence is expected to rise by about 70% over the next two decades, thus driving the market growth.

However, reimbursement coverage for androgenetic alopecia treatment is one of the major challenges in this market. Since most treatment modalities for AGA are considered cosmetic procedures and not medically essential ones, they are generally not covered under insurance. Out-of-pocket costs for AGA treatment usually include frequent doctor visits, prescription drug copays, and coinsurance for procedures. Alopecia has complex reimbursement positioning, as it is not a life-threatening disease. For instance, Aetna Inc.’s policy for alopecia states that drugs covered for mild conditions are different from those considered for more severe conditions. In addition, the scheme does not cover Rogaine (minoxidil) as it is considered an experimental therapy. Thus, lack of reimbursement policies for treatment is restraining the market growth.

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Androgenetic Alopecia Market Report Highlights

• The male segment dominated the market in 2023 due to the high adoption of androgenetic alopecia treatments

• The pharmaceuticals segment held the largest share in 2023. The increasing number of product approvals, rising investments by pharmaceutical companies, and shift in societal attitude toward adopting pharmaceutical drugs for the treatment of androgenetic alopecia are likely to play a prominent role in segment growth

• The devices treatment segment is expected to grow at the fastest CAGR over the forecast period

• The dermatology clinics end-use segment accounted for the largest revenue share in 2023 owing to increased consumer awareness regarding prescription medicines & modern treatments, such as laser technology, coupled with a strong product pipeline

• North America held a dominant revenue share in 2023 due to the high disease prevalence, consumer awareness, proactive government measures, technological advancements, and improvements in healthcare infrastructure

• In November 2023, Sun Pharma Advanced Research Company (SPARC) entered into an agreement with Johns Hopkins and the Czech research institute IOCB to exclusively license SCD-153, including all patents owned by IOCB

Androgenetic Alopecia Market Segmentation

Grand View Research has segmented the global androgenetic alopecia market on the basis of gender, treatment, end use, sales channel, and region:

Androgenetic Alopecia Gender Outlook (Revenue, USD Million, 2018 - 2030)

• Male

• Female

Androgenetic Alopecia Treatment Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceuticals

• Devices

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

• Dermatology Clinics

• Homecare Settings

Androgenetic Alopecia Sales Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Prescriptions

• OTC

Androgenetic Alopecia Regional Outlook (Number of Patients Treated in Thousands; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Androgenetic Alopecia Market

• Johnson & Johnson Services, Inc.

• Cipla, Inc.

• Sun Pharmaceutical Industries Ltd.

• Merck & Co., Inc.

• Dr. Reddy’s Laboratories Ltd.

• Aurobindo Pharma

• Lexington Intl., LLC

• Freedom Laser Therapy, Inc. (iRESTORE Hair Growth System)

• Curallux, LLC

• Apira Science, Inc. (iGROW Laser)

• Theradome Inc.