According to the latest market report published by Persistence Market Research, titled “Asia Pacific Alopecia Treatment Market: Industry Analysis and Forecast (2016–2024)”, revenue from the Asia Pacific alopecia treatment market is expected to expand at a CAGR of 6.6% during the forecast period 2016 – 2024.
In the report, the Asia-Pacific alopecia treatment market is analyzed on the basis of, type of alopecia, treatment type, and end user. On the basis of the type of alopecia, the overall market has been segmented into alopecia areata, alopecia totalis, and alopecia universalis. Topical drugs (creams, oils, lotions, gels, shampoos, and foam), oral drugs, injectable (platelet rich plasma therapy, steroid, and injectable fillers), hair transplant services and low-level laser therapy form the basis of treatment type. By end user segment, the market has been segmented into hospitals, dermatology and trichology clinics, home care settings, and aesthetic clinics. In the overall market, oral solid dosage formulations are expected to witness increased acceptance owing to ease of consumption by patients in Asia Pacific. Accordingly, oral drugs segment is anticipated to witness an increase in value from US$ 556.6 Mn in 2016 to US$ 1,005.1 Mn by the end of 2024.
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Rising global demand for effective hair loss treatment medications especially oral drugs is the prime driver of the market. Oral hair loss treatment drugs are gaining popularity as they help in maintaining patient-safety through reduced number of medicine dosages, but with increased drug efficacy. However, changing lifestyle along with the increase in stress level among working class population, cosmeceutical drug manufacturers focusing on expanding their hair treatment and scalp treatment product line, and cytokine therapy gaining momentum for alopecia treatment are other factors that expected to fuel the market growth for alopecia treatment market over the forecast period.
Patent expiry of major blockbuster drugs resulting in market exclusivity for some brands and various side effects associated with the hair loss treatments is expected to hamper the overall market growth. Some of the side effects such as allergies, depression, and chances of permanent sexual dysfunctions. Other market deterrents include the limited efficacy of the hair loss treatment drugs and lack of reimbursement facilities for hair loss treatments services, such as laser treatments.
Based on countries, the market has been divided into China, Japan, Australia & New Zealand, Malaysia, Singapore, India, Vietnam, Philippines and Rest of Asia-Pacific. Developed pharmaceuticals markets such as the China and Japan are expected to emerge as the main sourcing markets.
This report assesses trends by type of alopecia, treatment type, end user, and countries; to offer analytical insights about the potential demand emerging for particular alopecia treatments in specific regions. China is estimated to dominate the alopecia treatment market accounting for maximum revenue share of the overall market by end of 2016. By 2024 end, China and Japan markets are expected to account for over three-fifth share of the Asia Pacific alopecia treatment market revenue. In terms of market share by value, China is estimated to retain its dominant position, registering a CAGR of 7.1% over the forecast period.
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Some key companies covered in this report include Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Johnson & Johnson, Inc., Dr. Reddy’s Laboratories Ltd., Cipla Ltd., Cellmid Ltd., The Himalaya Drug Company, Taisho Pharmaceutical Holdings Co., Ltd, Shiseido Co., Ltd., and Zhangguang 101 Science & Technology Co., Ltd. These companies are primarily focused on enhancing their product portfolio through research and development and the introduction of innovative and cost-effective advanced manufacturing procedures in order to gain higher market share and to strengthen their respective positions in the Asia Pacific market.