Androgenetic Alopecia Treatment Market
Overview:
There is a vast number of treatment options for treating androgenic alopecia (AGA), and the decision-making process of selecting the best course of treatment depends on many factors including patient needs, compliance, budget, and extent of hair loss. A traditional herbal medicinal plant, rosemary (Rosmarinus officinalis) extract has a broad range of actions, including increasing microcapillary perfusion and prostaglandin E2 production. It also inhibits leukotriene B4 production. Light-based therapy has shown efficacy in AGA and has been reported to increase hair shaft diameter, pilary index, and terminal hair count. The effect of LLLT may be mediated through the activation of the Wnt/b-catenin signaling pathway. Adipose-derived stem cells (ADSCs) have been used to treat AGA in several studies. Several studies report improved hair counts and increased pilary index following treatment with ADSCs compared to controls. A randomized clinical trial found that 5% minoxidil applied once daily produced significantly greater improvements in anagen hair counts than 2% minoxidil or placebo.
Market Dynamics:
Rising product approvals are estimated to augment growth of the global androgenetic alopecia treatment market during the forecast period. For instance, Eli Lilly and Company and Incyte Corporation received the Breakthrough Therapy Designation for baricitinib in March 2020, by the US FDA. This is used for treating androgenic alopecia. Moreover, rising limitations associated with the treatments are anticipated to restrain growth of the global androgenetic alopecia treatment marketduring the forecast period.
Impact of COVID-19:
The pandemic had a devastating impact on many lives. Several individuals lost their lives to this outbreak. It also affected several businesses and the global economy. Many people lost their jobs, there was a shortage of skilled professionals. The healthcare sector was severely affected and it also hampered other treatments options going on. During the pandemic there was a shortage of medical supplies, hospitals beds, and drugs. Doctors were treating these patients on priority. This led to delay in other treatments. Other treatments were either delayed or cancelled, also to prevent the transmission of the disease. Thus, the pandemic had a negative impact on the growth of the global androgenetic alopecia treatment market.
Key Takeaways:
The global androgenetic alopecia treatment marketis anticipated to witness significant growth, exhibiting CAGR of 5.2 %, during the forecast period, due to growing technological advancements. For instance, LifeMD’s Shapiro MD hair restoration device was approved by the US FDA in March 2020. This device promotes hair growth in women and men with androgenetic alopecia.
North America dominates is expected to witness high growth in the global androgenetic alopecia treatment market during the forecast period, owing to growing disposable income and rising availability of novel therapeutics options.
Major players operating in the global androgenetic alopecia treatment market are Daiichi Sankyo Inc., Sun Pharmaceuticals Industries Ltd., Concert Pharmaceuticals Inc., Aclaris Therapeutics Inc., Cipla Inc., Merck & Co., Inc., GlaxoSmithKline plc, Aurobindo Pharma., and LUTRONIC.
