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The Asia Pacific alopecia treatment market is expected to grow at a CAGR of 7.38% during the forecasting years of 2019-2027. The growing prevalence of chronic diseases, such as cancer, arthritis, and changing lifestyles leading to diabetes, hypertension, and stress in the APAC region mainly proliferate the regional market growth.
Many previous studies have shown that the prevalence rate of alopecia is genetically higher in the population aged 60 years and above. For instance, research studies have indicated that the individuals aged 60 years and above are expected to quadruple in this region from 2015 to 2050, showing an increase from XX million to XX billion, respectively. This will increase age-related hair loss, that has profited the alopecia treatment market effortlessly.
Japan is expected to have high growth in the alopecia treatment market over the forecast period. The increasing research work and the new product development for hair loss in Japan are the key factors anticipated to contribute to the growth of the market.
The companies operating in the APAC alopecia treatment market are Histogen Inc., Concert Pharmaceuticals Inc., Daiichi Sankyo, Inc., Merck & Co., Inc., Alès Groupe, GlaxoSmithKline, Cipla, Johnson and Johnson, HCell Inc., Dr Reddy's Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Vitabiotics Ltd., Aclaris Therapeutics Inc., Lifes2good and Alpecin.