The global Hair Loss Treatment Products Market size is projected to reach a CAGR of 3.56% from 2023-2030.
Hair goes through a cycle of growing, resting, falling out, and regenerating. Hair loss is defined by the disruption of this cycle, or the damage to the hair follicles, resulting in quick loss of hairs, over the speed of the regenerations. Receding hairline, hair falling out in patches, or overall thinning are some of the visible symptoms. There are several Products of hair loss such as Telogen Effluvium, Anagen Effluvium, and Alopecia. Areata, Tinea Capitis, Cicatricial Alopecia, Hair Shaft Abnormalities, Hypotrichosis. The increasing number of chronic disease cases such as alopecia areata in the world is the primary factor contributing to the growth of the hair loss treatment products market around the world.
The growth of the market is due to major drivers driving the market are changing lifestyle patterns, adoption of a hectic schedule that increases stress levels, which in turn results in frequent hair loss at an earlier stage among the young population, growing disposable income, and increased emphasis on appearances. These factors have positively anticipated propelling the growth of the global Hair Loss Treatment Products Market. One of the major factors in the extensive growth of the hair loss product market is the increase in demand for topical solutions. Topical treatment is one of the safest and yet the most effective method for the treatment of hair loss developed by the industries. The introduction of various topical products based on the pattern of baldness makes it easier for the population to put their hands on the market.
On the other hand, the presence of various alternative treatment options for hair loss, including laser hair therapy, hair transplant surgery, and light-based therapies is anticipated to restrain the global hair loss treatment products market during the forecast period.
The COVID-19 pandemic positively influenced consumers’ spending habits and purchase decisions. However, there were restrictions on import and export in most countries, which reduced the supply of medicines for hair loss, such as Carospir, Aldactone, minoxidil, and finasteride. Despite this, several companies witnessed huge growth in selling hair loss treatment products online. Zalando, Europe’s fashion and lifestyle e-commerce company, witnessed a Y-O-Y increase of 300% in sales of skin, nail, and hair care products, including hair loss treatment products, in 2020. Although the COVID-19 pandemic propelled direct-to-consumer e-commerce through brands’ websites, shippable social-media platforms, and marketplaces, it also increased the volume of counterfeit products targeting less savvy and elderly shoppers new to e-commerce.
The growth of the global Hair Loss Treatment Products Market is anticipated to be positively propelled by various analysis factors. One of the prominent reasons behind the extensive growth of the hair loss product market is the surge in demand for topical solutions. Among the various treatment methods for hair loss developed by the industries, topical treatment is considered to be one of the safest and yet the most effective. This has contributed significantly to the growth of the hair loss treatment products market globally.
North America to Dominate the Market
