The rising global demand for effective hair loss treatment medications, especially oral drugs, is the prime driver of the global alopecia treatment market.
According to a report from Persistence Market Research (PMR), this market is set to expand at a CAGR of 4% over the next 10 years, to be valued around US$ 9.5 billion by 2030.
PMR reports that oral hair loss treatment drugs are gaining immense popularity, as they help in maintaining patient-safety through a reduced number of medicine dosages, but with increased drug efficacy.
Says a PMR analyst: “Due to a changing lifestyle combined with an increase in stress levels among the working class population, cosmeceutical drug manufacturers are focusing on expanding their hair and scalp treatment product lines, with cytokine therapy gaining momentum for alopecia treatment. These factors are expected to fuel the growth of the alopecia treatment market over the next decade.”
Manufacturers are focused on innovating and possessing cost-effective manufacturing methods to stay ahead of the competition.
“Due to the COVID-19 pandemic, the healthcare community has put all its efforts and resources toward its treatment, and, as such, non-essential medical treatment and procedures have been rescheduled. This will adversely affect the progress of the alopecia treatment market in the short term,” says the PMR analyst.
For more information click here