Market Research Future has released a new report on the Global Hirsutism Market which reveals a notable CAGR of 13.6% during the forecast period of 2017 to 2023 with an estimated value of USD 5.29 billion by the end of 2023. Hirsutism is a condition which affects women with hormonal imbalances, particularly the increased production of male hormones. The condition is also a common symptom of polycystic ovary syndrome (PCOS). The National Center for Biotechnology Information (NCBI) has reported that over 70% of women diagnosed with PCOS are likely to develop hirsutism. The global incidence of PCOS has increased substantially, thus propelling demand for treatment option and as a result market growth.
The increasing availability of treatment options, growing awareness of the condition and the availability & popularity of cosmetic procedures used to reduce body hair in women are some driving forces behind market growth. Moreover, the present beauty standard is highly discouraging to women who suffer from hirsutism, which is a highly significant factor which motivates growth for the global hirsutism market.
The high costs of permanent procedures might represent a challenge to the market. However, the development of new treatment options due to the massive demand is likely to provide opportunities for growth.
Latest Industry News
After facing negative criticism and bullying for her hirsutism, an American woman, Leah Jorgensen, has gained fame due to her social media posts. The posts often show her condition openly, and she also has a YouTube channel where she talks about living with the condition, thus effectively spreading awareness.
Global Hirsutism Treatment Market – Dominant Players
Some of the key players in this market are:
- AbbVie Inc. (US)
- Allergan (Republic of Ireland)
- Bayer AG (Germany)
- Bristol-Myers Squibb Company (US)
- Jubilant Cadista (US)
- Pfizer Inc. (US)
- Sun Pharmaceutical Industries Ltd. (India)
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Global Hirsutism Treatment Market – Segments
Segmentation of the Global Hirsutism Market has been performed by type, diagnosis, treatment, end-user, and region.
By type, the market has been segmented to include idiopathic hirsutism, secondary hirsutism, and others.
By diagnosis, the market is divided into blood tests, imaging tests, physical examination and others. The diagnosis segment is further sub-segmented as follows:
• Blood Tests – testosterone level test, DHEA-sulfate test, and others
• Physical Examination – inspection, auscultation, palpitation & percussion and others.
By treatment, the market is segmented to include medications, procedures, and others. The treatment segment is sub-segmented as follows:
• Medications – oral contraceptives, anti-androgens, topical cream and others
• Procedures – electrolysis, laser therapy, and others
By end users, the market has been segregated into hospitals & clinics, medical research centers, academic institutes and others.
By region, the global market is divided into the Americas, Europe, the Asia-Pacific and Middle East & Africa.
Global Hirsutism Treatment Market – Regional Analysis
The market for Hirsutism is most significant in the Americas, particularly in North America due to a higher number of reported cases. The Americas are closely followed by Europe regarding market size due to a similar growth pattern for both regions. The rapid adoption of technological advancements, awareness of various hormonal problems and the increasing demand for affordable, permanent or semi-permanent treatment options is expected to contribute considerably to market growth during the forecast period.
The Asia-Pacific has been found to be the fastest growing regional market segment due to the steadily increasing awareness, increased healthcare expenditure and the availability of affordable treatment and healthcare options. The demand for treatment options equal to those in developed countries is expected to drive growth for the hirsutism market.
Meanwhile, due to the size of the African continent and its relative poverty, the Middle East & Africa is expected to witness moderate growth. Swiftly developing countries in the Middle East are expected to be the key contributor of growth for the region due to similar growth patterns as the Asia Pacific.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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