Surge in hair loss problems promotes the Global Hair Loss Treatment Products Market
The global Hair Loss Treatment Products Market was worth USD 8.3 billion in 2020 and is predicted to reach a valuation of USD 13.6 billion by 2025 at a CAGR of 5.5% during the envisioned period.
Hair loss treatment products are mainly used to promote hair growth and are shampoos, lotions, oils, hair masks and many other types of products readily available on the market. Hair loss treatment products are very popular and in great demand among men and women due to their various benefits such as shine, hair health, cost effectiveness, effectiveness, and other associated benefits.
In April 2018, Concert Pharmaceuticals, Inc. completed patient recruitment for a Phase 2a clinical trial evaluating CTP-543 for the treatment of moderate to severe alopecia areata.
Market Drivers and Restrains:
The main drivers of the market are frequent hair loss in the early stages of the younger population, increasing disposable income and increased emphasis on appearance due to changing lifestyle patterns and the adoption of a busy schedule. which increases stress levels. The main factors in the hair loss treatment market are lifestyle changes, increased stress levels due to the adoption of busy schedules, augmented disposable income, early hair loss in the younger population and the greater emphasis on appearance. Additionally, increased consumer preferences for organic and natural products and rising concerns about personal appearance are the main factors expected to drive target market growth during the forecast period. The demand for hair loss treatment products is increasing as consumer spending on hair care products increases and awareness of various benefits such as better hair health, rapid growth of hair, low cost and others is mounting. The trend observed in the global market for hair loss treatments is the frequent launch of advanced hair care products and a high investment in research and development activities by manufacturers. These are several factors that are expected to increase the demand for hair loss treatments and these trends are expected to continue throughout the forecast period. However, the market launch of counterfeit hair loss treatments is a key factor that is supposed to hamper the growth of the target market to some extent.
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Report is segmented as:
By type of drug, the global hair loss treatment market is segmented into 5-alpha reductase inhibitors, corticosteroids, vasodilators, immunosuppressants, etc.
Depending on the route of administration, the market is segmented into topical, oral, and injectable.
By distribution channel, the market is segmented into retail pharmacies, hospitals, online pharmacies, etc. Increasing consumer preference for hypermarkets and supermarkets to buy products for the treatment of hair loss. Revenues from the hypermarkets and supermarkets segment are expected to account for a large part of the global market.
The North American market for hair loss treatments occupied the largest share of sales in the world market, followed by the European market. In countries such as the United States, Canada, the United Kingdom, Italy, Germany and France, there is a high rate of adoption of products for the treatment of hair loss and a growing number of women suffering from hair loss problems. In addition, the high presence of manufacturers of hair loss treatments and concerns about high personal appearance are several factors that are expected to drive the growth of the target market. The Asia Pacific market is expected to register significant growth in the global market as consumer spending on hair care products increases and the popularity of natural hair loss treatment products increases in countries like India and China.
Impact of COVID 19 on Hair Loss Treatment Products Market
The redirection of local government medical resources to combat COVID-19 is expected to be a factor impeding the growth of the market for hair loss treatment products in the short term. The market for hair loss treatment products is expected to return to normal demand in the second half of 2021 due to the treatment and recovery of developed and emerging economies caused by the COVID-19 pandemic.
Key market players:
Major market players include Merck & Co., Cipla, Lifes2good, Johnson & Johnson, GlaxoSmithKline plc, Sun Pharma, Dr. Reddy's Laboratories, Histogen Inc., Kirkland Signature, and L'Oreal S.A.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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