The global Hair Loss Treatment Market is estimated to be valued at US$ 4.24 Bn or Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Hair loss treatment products help reduce hair fall, regrow hair, and thicken existing hair. These include shampoos, conditioners, serums, and medicines in the form of pills, minoxidil solutions, and laser therapy. They aim to treat alopecia, which affects millions worldwide.
Market key trends:
One of the key trends in the hair loss treatment market is the increase in the number of hair transplant procedures. Hair transplant involves taking hair follicles from a donor site on the scalp that is DHT-resistant and implanting them to the bald or thinly haired areas. The recovery time has reduced, making hair transplant a more popular choice. Another trend is the increasing demand for herbal hair loss treatment products. Herbal formulations containing ingredients like rosemary oil, coconut oil, and aloe vera are gaining favor among consumers looking for natural solutions instead of harsh chemicals or drugs. Also, technological developments are leading to new hair loss treatment methods like low-level laser therapy which stimulates follicles and increases hair growth.
Read More Insights: https://www.coherentmarketinsights.com/market-insight/hair-loss-treatment-market-4374
Market key trends:
The global hair loss treatment market has witnessed significant growth in recent years, driven by increasing awareness regarding hair care and hair transplant procedures among consumers. One of the key trends in the market is growing preference for non-surgical and minimally invasive hair loss treatments over surgical hair transplants. Treatments such as low-level laser therapy, growth factors, and platelet-rich plasma therapy are gaining popularity due to quicker recovery time, lesser pain and side effects as compared to surgical procedures.
SWOT Analysis
Strength: Increased spending on hair care products and hair transplant surgery indicates strong consumer demand.
Weakness: High costs associated with surgical hair transplants limit their adoption.
Opportunity: Emergence of novel technologies like laser therapy and follicular unit extraction present major opportunities.
Threats: Strong competition from generic/local manufacturers pose pricing pressure.
Key Takeaways
The global hair loss treatment market size was valued at US$ 4.24 Bn in 2023. The market is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period, due to increasing consumer acceptance of hair loss treatments. Regionally, North America accounted for the largest market share in 2023 attributed to technological advancements and increased awareness about hair loss therapies in the region.
The global hair loss treatment market is anticipated to grow at a CAGR of 6.2% during the forecast period due to the increasing consumer acceptance and growing number of hair loss treatment clinics.
Regionally, North America dominated the global market with over 35% revenue share in 2023. Presence of major market players and rising product marketing activities promoting hair loss therapies are some key factors that boost the market in this region.
Key players operating in the hair loss treatment market are Viviscal, Cipla Inc., Aclaris Therapeutics, Inc., Merck & Co., Inc., Daiichi-Sankyo Co., Ltd., Johnson and Johnson Services, Inc., Lexington International LLC, Vita-Cos-Med Klett-Loch GmbH, PureTech, Vitabiotics, Reddy’s Laboratories, Ranbaxy Laboratories Ltd., HCell Inc., Follica, Inc., Aurobindo Pharma, and Zydus Lifesciences Inc.
