The Global Alopecia Market is projected to reach $4.92 billion by 2028, from a value of $3.12 billion in 2022, by registering a CAGR of 7.9% during the forecast period. Rising awareness among patients about alopecia and its treatments, increasing government initiatives, supportive regulations & laws, improvements in healthcare infrastructure, lifestyle changes, increased PCOS levels and a growing trend of cosmetic procedures are the major factors propelling the growth of the market. However, lack of awareness among individuals, high costs of treatment, adverse effects of therapies, and unavailability of established healthcare facilities are hampering the market growth. Moreover, increasing awareness regarding hair loss is increasing the demand for pain-less therapy with minimal side effects creating ample opportunities across the globe.
Recent Developments
In February 2021, Sun Pharmaceutical Industries Ltd announced that it website for Sun Pharmaceuticals long-term care (LTC) division, www.sunltc.com, has been launched in the United States.
In August 2020, Sun Pharmaceutical Industries Ltd. launched Flu Guard (Favipiravir 200 mg) launched in India at an affordable price of for the treatment of mild to moderate Covid-19 cases, The only oral antiviral treatment approved in India for the treatment of patients with mild to moderate Covid-19 disease is favipiravir.
In October 2019, Drizalma SprinkleTM (duloxetine delayed-release capsules) announced that it has been approved for oral use in the United States by its wholly-owned subsidiaries. Drizalma Sprinkle is a serotonin and norepinephrine reuptake inhibitor (SNRI) used to treat a variety of neuropsychiatric and pain disorders in patients who have trouble swallowing, which affects about 30-35 per cent of long-term care residents.
Competitive Landscape
CAPILLUS, Sun Pharmaceutical Industries Ltd., Cipla Inc., Merck and Co., Inc., Transitions Hair, Follica, Inc., Johnson and Johnson Services, Inc., Concert Pharmaceuticals, HCell Inc., GlaxoSmithKline plc., Cambrex Corporation are some of the major players in the Global Alopecia Market.
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