A sedentary lifestyle, unhealthy eating habits, and growing stress levels are increasingly responsible for severe hair loss and damage, also known as alopecia. Ageing, hormonal imbalance, and increasing prevalence of cancer, arthritis, hypertension, and depression are other factors causing alopecia. Thus, the alopecia treatment market is anticipated to witness significant growth in the coming years owing to a surge in the prevalence of alopecia. The number of people seeking alopecia treatment is extremely high in developed nations. However, increased healthcare expenditure has spurred the demand for alopecia treatment in developing nations such as China and India as well.
The alopecia treatment market is segmented on the basis of product, gender, end user, and geography. By product, the market is segmented into shampoos and conditioners, vitamins and supplements, and other (gels, oils, and serums). On the basis of end user, the market is segmented into homecare settings, dermatology clinics, and others.
The report covers an exhaustive analysis on the alopecia treatment market segments, including the leading, declining, and fastest growing segments. It comprises the analysis of market dynamics, the market size and forecast, and the trends, threats, and opportunities. The study also comprises the vendor landscape, degree of competition, threat of new entrants, and the bargaining power of buyers and suppliers.
Overview of the Alopecia Treatment Market
According to the American Hair Loss Association, 95% of the hair loss in men is caused by androgenetic alopecia. The Association also states Moreover, the body also states that around 800 thousand people are undergoing some form of treatment for hair loss across the globe. The rise in the geriatric population and increasing hypertension and depression among the middle aged population are some of the factors driving the alopecia treatment market. A growing demand for surgical hair transplant is expected to drive the global alopecia treatment market in the coming years. An increase in the disposable income of the people, technological advancements in hair treatment medical devices, and a growing emphasis on looking good are some of the other factors driving the market. Moreover, the easy accessibility to scalp treatment is also helping the market to grow.
The global alopecia treatment market is expected to be restricted by the high cost of medications. The probable side effects, reactions, and allergies caused by alopecia treatments will further hamper the growth of the market. Decreased libido, high BP, increase in the heart rate, and erectile dysfunction are some of the side effects caused by alopecia treatment, threatening the market’s growth. However, technological advancements and the development of novel therapeutic drugs are expected to bring new opportunities for growth in the market.
On the basis of geography, the global alopecia treatment market is segmented into Europe, Asia Pacific, North America, and the Rest of the World, of which North America is currently the largest segment. North America is also the most significant revenue generator at present, owing to the rise in hair loss among people and the high treatment rates. The high disposable income of the people and the availability of innovative therapeutic solutions are also factors driving the growth of the market in North America.
Companies Mentioned in the Report
The report profiles leading players in the global alopecia treatment market. Important information pertaining to players, such as their recent developments, product picture, specifications, and price, and the challenges faced by them are included. Additionally, the report covers strategies adopted by key players to grow in the alopecia treatment market. The key vendors include Vitabiotics, Sun Pharma, Merck & Co., Alpecin, Dr. Reddy’s Laboratories, Cipla, Johnson & Johnson, Kirkland Signature, Phyto Ales Group, and Lifes2good.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.