Hair Loss Treatment Products Market is expected to reach USD 1042 million by 2024, at a CAGR of 3.56%.
. The major drivers driving the market are changing lifestyle pattern, adoption of a hectic schedule that increases stress levels, which in turn results in frequent hair loss at earlier stage among the young population, growing disposable income and increased emphasis on appearances.
. The presence of alternative treatment option for hair-loss such as hair transplant surgery, laser and light-based therapies and high cost of medication are going to restrain the market in the forecast period.
Scope of the Report
Hair Loss Treatment Products Market is segmented by Distribution as Supermarkets and Hypermarkets, Convenience Stores, Specialty retailers, Pharmacies, Online retail and Others; and by Geography
Key Market Trends
Life Style, Growing disposable income and emphasis on appearances
The major drivers driving the market are changing lifestyle pattern, adoption of the hectic schedule that increases stress levels, which in turn results in frequent hair loss at earlier stage among the young population, growing disposable income and increased emphasis on appearances.
According to National Alopecia Areata Foundation (NAAF), the prevalence of hair loss has increased in the age group of 10 to 25 years in the last decade and around 60% of this age group suffers from hair loss. As per the American Hair Loss Association, more than 66% of men below the age of 35 experienced hair loss problems in the year 2018. Besides, about 85% of the men below the age of 55 expected thinning of hair. More than 21 million women are suffering from severe hair loss problems with about 40% of them getting active treatments. According to the American Hair Loss Association, more than 80 million men and women are suffering from hair loss problems in the US alone.
Asia- Pacific Dominates the Market
North America is having a huge market for hair loss medication and is going to dominate the market over the period of forecast followed by Europe. According to American Hair Loss Association more than 80 million men and women are suffering from hair loss problems in the US alone. There are many positive initiatives taken by organizations such as NAAF and the American Hair Loss Association. According to the Eurostat, the population in the European Union between 15-60 years is expected to decline by 2060, while the population above 60 years is expected to grow from 18% to 30%. Similarly, in America, the ageing population is forecasted to be doubled by 2060 to reach 98 million. Increased hair loss problems due to ageing have strongly affected the market growth.
Global Hair loss treatments market is very competitive with a large number of international and regional companies fighting for the money. Both Beauty and Pharmaceutical companies are developing new formulas and product launches to keep up with the technological advancements in new product releases.
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