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The global Hair Loss Treatment Market is estimated to be valued at US$ 4.24 Bn 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:
The hair loss treatment market deals with products that help in reducing hair fall and promoting new hair growth. These products include shampoos, conditioners, serum, oil, etc. that contain essential nutrients and vitamins needed for hair follicles. Nearly 50% of men and 30% of women worldwide experience some degree of hair loss due to various factors like aging, stress, genetics, and other medical conditions. The growing prevalence of hair fall issues due to changing lifestyles has boosted the demand for hair loss treatments.
Market key trends:
One of the key trends in the hair loss treatment market is the rise of natural and herbal formulations. People are increasingly preferring herbal and Ayurvedic remedies over chemical-based products due to safety concerns. Herbal supplements containing ingredients like amla, bhringraj, henna, brahmi, etc. are gaining popularity. Furthermore, the growing demand for personalized hair treatments as per the cause and type of hair fall has led manufacturers to offer customized products and solutions. This has spurred innovations in formulations and treatment technologies in the market.
Porter’s Analysis
Threat of new entrants: The hair loss treatment industry faces low threat of new entrants due to high capital requirements and stringent regulations by various governing bodies.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are several product options available for treatment of hair loss.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitutable components and ingredients.
Threat of new substitutes: The threat of new substitutes is moderate as alternative treatment methods are available.
Competitive rivalry: intense.
Key Takeaways
The global hair loss treatment market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing consumer awareness about various hair loss treatment options and substantial rise in disposable income across the world.
Regional analysis: North America dominates the global hair loss treatment market and is expected to continue its dominance over the forecast period. This is attributed to easy availability of various hair loss treatment products and prevalence of hair loss problems in the region. The Asia Pacific region is expected to exhibit fastest growth over the forecast period owing to rising hair loss patient pool and growing medical tourism industry.
Key players operating in the hair loss treatment market growth include 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, Reddyâ€TMs Laboratories, Ranbaxy Laboratories Ltd., HCell Inc., Follica, Inc., Aurobindo Pharma, and Zydus Lifesciences Inc.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
