A recent study by Triton Market Research titled ‘Global Hair Loss Treatment Market’ includes the Global Analysis and Forecasts by Indications (Androgenic Alopecia, Alopecia Areata, Alopecia Totalis, Other Indications), by Gender (Female, Male), by Sales Channel (Drug Stores & Retail Pharmacies, Hospital Pharmacies, Online Pharmacies), by Treatment Type (Topical Hair Loss Treatment {Minoxidil, Shampoos}, Oral Hair Loss Treatment {Finasteride, Other Oral Hair Loss Treatment}, Other Treatment Types), and by Geography (North America, Latin America, Europe, Middle East and Africa, Asia-Pacific).
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Triton’s research report signifies that the global hair loss treatment market is likely to exhibit growth at a CAGR of 5.07% during the considered years 2021-2028. It is predicted to gain revenue worth $3768.97 million by 2028.
According to the WHO, the total alcohol consumption per capita is projected to increase to 27.7% in 2025 worldwide, from 25.5% in 2016. High alcohol consumption, along with smoking, causes many chronic illnesses, such as alopecia. The high consumption of alcohol and tobacco are thus majorly contributing as driving forces for the hair loss treatment market.
On the other hand, hair loss treatments carry a risk of possible infection. For instance, one is likely to develop an infection on the scalp after their hair transplant surgery. Currently, there is no 100% success rate for any kind of hair treatment therapies and medicines. This builds fear in the patient’s mind, which, in turn, hampers the market growth.
The hair loss treatment market is broadly divided into indications, gender, sales channel, and treatment type. Based on indications, it is divided into androgenic alopecia, alopecia areata, alopecia totalis, and other indications. Based on gender, it is mainly classified into female and male. The sales channel segment is categorized into drug stores & retail pharmacies, hospital pharmacies, and online pharmacies. Lastly, treatment type is segmented into topical hair loss treatment, oral hair loss treatment, and other treatment types. Topical Hair Loss Treatment is segmented further into minoxidil and shampoos. Whereas, oral hair loss treatment is segmented into finasteride and other oral hair loss treatment.
The Asia-Pacific is expected to show the fastest growth in the global market over the forecasted duration. Air pollution is one of the reasons for the increasing hair loss problems among people. The APAC has witnessed growing air pollution in recent years. Data from the Climate and Clean Air Coalition suggests that 92% of the region’s population, which equals nearly 4 billion people, is exposed to high levels of air pollution that pose significant health risks. This has led to a number of people seeking treatment for hair loss. Further, consumers’ perception towards good aesthetics and strong marketing strategies by pharmaceutical companies & hair clinics are boosting the sales of hair regrowth products.
Merck & Co, Dr Reddys Laboratories, Sun Pharmaceutical Industries Ltd, Aclaris Therapeutics, Shiseido Company Limited, Lexington International Llc, Concert Pharmaceuticals Inc, Transitions Hair Pvt Ltd, Johnson & Johnson, Taisho Pharmaceutical Co Ltd, Cellmid, Cipla Limited, Teva Pharmaceuticals, Daiichi Sankyo, and The Himalaya Drug Company are reputed companies engaged in the hair loss treatment market.
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Question & Answer: Hair Loss Treatment Market
Question 1: What factors are majorly contributing as driving forces for the hair loss treatment market?
Answer: According to the WHO, the total alcohol consumption per capita is projected to increase to 27.7% in 2025 worldwide, from 25.5% in 2016. High alcohol consumption, along with smoking, causes many chronic illnesses, such as alopecia. The high consumption of alcohol and tobacco are thus majorly contributing as driving forces for the hair loss treatment market.
Question 2: What factor hampers the studied market growth?
Answer: Hair loss treatments carry a risk of possible infection. For instance, one is likely to develop an infection on the scalp after their hair transplant surgery. Currently, there is no 100% success rate for any kind of hair treatment therapies and medicines. This builds fear in the patient’s mind, which, in turn, hampers the market growth.
Question 3: Which region is expected to showcase the fastest growth in the global market?
Answer: The Asia-Pacific is expected to show the fastest growth in the global market over the forecasted duration. Air pollution is one of the reasons for the increasing hair loss problems among people. The APAC has witnessed growing air pollution in recent years. Data from the Climate and Clean Air Coalition suggests that 92% of the region’s population, which equals nearly 4 billion people, is exposed to high levels of air pollution that pose significant health risks.
This has led to a number of people seeking treatment for hair loss. Further, consumers’ perception towards good aesthetics and strong marketing strategies by pharmaceutical companies & hair clinics are boosting the sales of hair regrowth products.
Question 4: Which are the reputed companies engaged in the hair loss treatment market?
Answer: Merck & Co, Dr Reddys Laboratories, Sun Pharmaceutical Industries Ltd, Aclaris Therapeutics, Shiseido Company Limited, Lexington International Llc, Concert Pharmaceuticals Inc, Transitions Hair Pvt Ltd, Johnson & Johnson, Taisho Pharmaceutical Co Ltd, Cellmid, Cipla Limited, Teva Pharmaceuticals, Daiichi Sankyo, and The Himalaya Drug Company are some of the reputed companies engaged in the hair loss treatment market.
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The global anti-aging market is likely to propel at a CAGR of 7.94% during the period of 2019-2027, while garnering $340344.52 million worth of revenue by 2027.
Multifunctional products are seeing a high demand, especially from value-conscious consumers. These products have different functions incorporated into a single product that address multiple concerns. For instance, the Skin Renew Miracle Anti-Aging BB Cream by Garnier is an all-in-one cream that can be used as a moisturizer, serum, primer, foundation, and even sunblock. Therefore, there is a huge demand for multifunctional products, which is expected to boost the growth of the anti-aging products market over the forecast period.
However, some anti-aging products are said to cause side effects that can hinder the growth of the market. Some creams contain harsh chemicals, even carcinogenic chemicals, such as DEA, MEA, TEA, etc., as they maintain the pH level of the cream. These ingredients are harmful to the skin and cause various side effects, such as burning, rashes, redness, skin irritation, premature aging, etc. This is majorly deterring potential consumers from buying these products.
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