Hair Loss Treatment Market Report and Forecast 2024-2032

Hair Loss Treatment Market Overview

Hair loss affects the scalp and is characterised by hair thinning in people ranging from mild to severe hair loss. It could be a temporary to permanent condition depending on several factors. It is also known as baldness and could be hereditary. The market growth is driven by the rising demand for topical solutions, owing to their non-invasive nature and rising preference for personalized alternatives.

Hair Loss Treatment Market Growth Drivers

Rising FDA Approvals Drive Market Growth

The rising prevalence of autoimmune-related hair loss disorders and demand for effective therapeutic options are significantly driving the market. Alopecia areata is characterised by hair loss and affects nearly 700,000 people in the United States, with 300,000 experiencing severe forms of the condition. For instance, in July 2024, Sun Pharmaceutical Industries received FDA approval for LEQSELVI (deuruxolitinib), a twice-daily oral Janus Kinase (JAK) inhibitor for alopecia areata in adults. This treatment disrupts pathways involved in hair loss, providing substantial benefits in clinical trials where patients with only 13% scalp coverage achieved an average of 80% after 24 weeks. The approval of LEQSELVI addresses a critical need for non-invasive, effective hair loss solutions and is expected to significantly impact the hair loss treatment market, providing hope for severe alopecia patients and expanding therapeutic options in the forecast period.

Surge in Investments to Meet Rising Hair Loss Treatment Market Demand

Increasing interest in innovative topical treatments and strong investment in biotech research are key trends driving growth in the market. In February 2024, Pelage Pharmaceuticals, a Los Angeles-based biotech company, raised USD 16.75 million in Series A funding to advance its novel topical hair loss drug, PP405. This funding will support a mid-stage clinical trial, building on promising Phase I results showing PP405 can activate hair follicle stem cells within seven days with no adverse effects. It not only demonstrates confidence in next-generation topical treatments but also signals the potential for Pelage to become a prominent player in the hair loss market, offering more accessible and effective treatment options for patients.

Technical Innovations to Boost Hair Loss Treatment Market Value

The growing demand for targeted, minimally invasive treatments and advancements in biotechnology are transforming the hair loss treatment market. In May 2024, researchers from MIT, Brigham and Women’s Hospital, and Harvard Medical School developed a microneedle patch for alopecia areata, an autoimmune condition causing hair loss across all age groups. This patch, painlessly applied to the scalp, releases drugs that rebalance immune responses locally, preventing autoimmune attacks while encouraging hair regrowth. Tested in mice, the treatment successfully promoted hair growth and reduced inflammation without systemic immune effects. This innovative approach is expected to impact the hair loss treatment market positively, driving the adoption of novel, patient-friendly solutions in the forecast period.

Hair Loss Treatment Market Trends

Hair Loss Treatment Market Segmentation

Hair Loss Treatment Market Share

Market Segmentation Based on Type to Undergo Significant Growth

On the basis of type, the market is broadly categorized into the non-cicatricial segment and the cicatricial segment. The non-cicatricial is further segmented into telogen effluvium, androgenetic alopecia, alopecia areata and others. Out of these, the non-cicatricial section, particularly androgenetic alopecia, leads the hair loss treatment market due to its high prevalence globally.

Hair Loss Treatment Market Analysis by Region

Based on the region, the United States holds the largest market share in the market. This dominance is driven by high consumer awareness, significant disposable income, and a strong demand for cosmetic and dermatological treatments. The availability of advanced therapies, such as PRP and hair transplantation, combined with an extensive distribution network, further supports market growth. Additionally, robust investment in research and development for new treatments and an increasing prevalence of hair loss conditions among various demographics solidify the United States’ leading position in this market.

Leading Players in the Hair Loss Treatment Market

The key features of the market report comprise clinical trials analysis, patent analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:

Viviscal Limited

Viviscal Limited, established in 1990 and headquartered in Ireland, specialises in hair growth supplements and treatments. Their flagship product, Viviscal, is a drug-free dietary supplement formulated to promote hair growth and thickness, catering to individuals experiencing hair thinning and loss.

Aclaris Therapeutics, Inc.

Founded in 2012 and based in Pennsylvania, USA, Aclaris Therapeutics, is a biopharmaceutical company focused o...

Merck & Co., Inc.

Merck & Co., Inc., established in 1891 and headquartered in New Jersey, USA, is a global healthcare company. I...

Daiichi-Sankyo Co., Ltd.

Founded in 2005 and headquartered in Tokyo, Japan, Daiichi-Sankyo Co., Ltd. is a global pharmaceutical company...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other key players in the market include Cipla Inc., Johnson & Johnson, Lexington Intl., LLC., Vita-Cos-Med Klett-Loch GmbH, HCell Inc., and Vitabiotics (India) Private Limited.

Key Questions Answered in the Hair Loss Treatment Market

• What was the hair loss treatment market value in 2023?
• What is the hair loss treatment market forecast outlook for 2024-2032?
• What is the market breakup based on the type?
• What is the market breakup based on the treatment type?
• What is the market breakup based on route of administration?
• How is the market segmented by the distribution channel?
• What is the market breakup based on the end user?
• What are the major factors aiding the hair loss treatment market demand?
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints?
• Which country is expected to experience expedited growth during the forecast period?
• What are the major hair loss treatment market trends?
• Which type will lead the market segment?
• Which treatments will lead the market segment?
• Which route of administration will lead the market segment?
• Which distribution channel will lead the market segment?
• Which end user will lead the market segment?
• Who are the key players involved in the hair loss treatment market?
• What is the patent landscape of the market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?