Hair Loss Treatment Market is Estimated to Witness High Growth Owing to Advancements in Hair Restoration Techniques
The global hair loss treatment market is estimated to be valued at US$ 5.4 billion in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024-2028.
Naufan Cmi
The hair loss treatment market comprises products and therapies used for treating hair loss conditions such as androgenetic alopecia, alopecia areata, and telogen effluvium. Some of the commonly used hair loss treatment products include minoxidil, finasteride, laser therapy, platey helminthic therapy, and stem cell therapy. These products help stimulate hair follicles, block androgens, reduce inflammation, and promote hair regrowth. The need for effective hair loss treatments is rising owing to the increasing prevalence of alopecia and genetic hair loss among both men and women across age groups. According to statistics, over 50% of men face significant hair loss after the age of 50.
The global hair loss treatment market is estimated to be valued at US$ 5.4 billion in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024-2028.
Key Takeaways
The Hair Loss Treatment Companies are Rohto Pharmaceutical, Kirkland Signature, Upsher-Smith Laboratories, LLC, Shiseido Co., Ltd., and Merck & Co.
The increasing availability of effective non-invasive hair loss treatments such as low-level laser therapy, oral medications, and stem cell treatments presents lucrative growth opportunities for manufacturers in the coming years.
The rising demand for aesthetic hair restoration procedures across major markets such as North America, Europe, and Asia Pacific will drive the global expansion of the hair loss treatment industry during the forecast period.
Market Drivers
Rising prevalence of alopecia and genetic hair loss across all age groups is a key factor driving the global Hair Loss Treatment Market Growth. Statistics show over 80 million people in the US suffer from significant hair loss each year. Growing consumer awareness about available medical treatments and social acceptance of hair transplants are further propelling the demand for professional hair loss treatments. Favorable reimbursement policies for hair loss drugs and procedures in developed economies also support the market growth. Product innovations leading to improved effectiveness and convenience of hair loss treatments will continue fueling the revenues in the global market during the forecast period.
PEST Analysis
Political: Government regulations regarding ingredients used in hair loss products can impact the market. Changes in policies regarding drug approvals can affect time to market for new treatments.
Economic: Rise in disposable incomes is driving greater consumer spending on personal care products, benefiting the hair loss treatment market. However, economic slowdowns may negatively impact the sector.
Social: Growing awareness about hair fall treatment options and increasing social acceptability of baldness are supporting market growth. Aging population also contributes to demand.
Technological: Advancements in hair transplant techniques like Follicular Unit Extraction (FUE) and growing R&D in drug development is expanding treatment choices for consumers. Use of robotics, stem cells etc. is opening new avenues.
Regions where market value is concentrated
North America accounts for the largest share of the global hair loss treatment market value due to factors like high awareness levels, strong healthcare infrastructure and presence of major market players. The United States contributes significantly to regional market revenues.
Fastest growing region
The Asia Pacific region is expected to witness the fastest growth over the forecast period. Increasing consumption in populous countries like China and India due to growing disposable incomes and adoption of Western lifestyles are driving the market. Rising medical tourism in hair transplant procedures is further boosting the industry.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
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