Alopecia drugs market outlook
The global alopecia drugs market is anticipated to grow at a steady rate and will post a CAGR of more than 5% during the forecast period. The increasing popularity of off-label and over-the-counter (OTC) drugs will drive the growth prospects for the global alopecia drugs market during the forecast period. Off-label drugs are used extensively by the consumers because the exact therapy targeted at remission of alopecia is currently unavailable. For instance, AVODART is approved for the treatment of prostate cancer, but this drug is also used for the treatment of alopecia. Such drugs are used in the absence of any proven remission track and can be a threat to the market’s growth in the future. However, at present, the increasing use of off-label drugs is fuelling the sale of these drugs. Also, these drugs are being used for unapproved clinical indication or extension to a milder form of approved indication or extension to related conditions. For instance, alopecia market heavily uses spironolactone and cyclosporine, which are primarily approved for other indications.
Based on the alopecia drugs industry analysis, the Americas accounted for the maximum market share in 2015 because the US was the largest revenue contributor in the region. During the forecast period, the Americas will continue to dominate the market due to the increasing awareness about the disease and drugs in the region. Furthermore, the changing lifestyle of individuals is resulting in hormonal imbalances due to increased stress, consumption of junk food, and physical inactivity. Also, the increasing rate of hormonal imbalances in the region can cause disorders that will increase the consumption of drugs.
Competitive landscape and key vendors
The leading vendors of the market are investing extensively in R&D of new drugs because there are no effective treatment options available for alopecia disorder. Also, to gain a competitive edge over peers in the market, the vendors are focusing on developing drugs that are safe and efficient. Furthermore, the influx of new entrants into the market will further intensify the competition environment.
Key vendors in this market are
- GlaxoSmithKline
- Johnson & Johnson
- Merck
Other prominent vendors in the market include Aclaris Therapeutics, Actelion Pharmaceuticals, Almirall, AndroScience, Anterios, Aqua Pharmaceuticals, Astellas Pharma, Bayer HealthCare, BERG Health, BiologicsMD, BioPharmX, Celtaxsys, Cipher Pharmaceuticals, Concert Pharmaceuticals, Cosmo Pharmaceuticals, Dermira, Elorac, F. Hoffmann-La Roche, Foamix, Guthy-Renker, Helix BioMedix, Hygeia Therapeutics, Hyundai Pharm, Incyte, Kasiak Research, Kythera Biopharmaceuticals, Mylan, NovaLead Pharma, Novan, Oculus Innovative Sciences, Paratek Pharmaceuticals, Photocure, Polichem, Promius Pharma, Ranbaxy Laboratories, Reckitt Benckiser, Regience, Samumed, RepliCel, Skinvisible Pharmaceuticals, Teva Pharmaceutical, Versapharm, and XBiotech.
Segmentation by route of administration (ROA) and analysis of the alopecia drugs market
- Oral alopecia drugs
- Topical alopecia drugs
- Injectable alopecia drugs
The global topical drugs market segment accounted for the maximum market share during 2015 and will continue to dominate the market until the end of 2020. Topical drugs are widely used in comparison to oral formulations. The increasing availability and popularity of new drugs, such as the AVODART drug, will fuel the growth prospects for the market during the forecast period.
Segmentation by gender and analysis of the alopecia drugs market
In 2015, men affected with alopecia contributed the maximum revenue to the market and will continue to contribute a maximum percentage of revenue in the forthcoming years. The study shows that British men are largely affected by the disorder due to which the sale of alopecia drugs increases in the market. Also, since Propecia is the only approved therapy to treat hair loss in male, the sale of this product will increase in the market.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global alopecia drugs market?
- What are the key market trends impacting the growth of the global alopecia drugs market?
- What are the challenges to market growth?
- Who are the key vendors in the global alopecia drugs market?
- What are the market opportunities and threats faced by the vendors in the global alopecia drugs market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global alopecia drugs market?
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