Hair Growth Supplement and Treatment Market Analysis

Hair Growth Supplement and Treatment Market Analysis

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Based on the type, the global market is classified into supplements and pharmaceuticals. The pharmaceuticals segment dominated the market with revenue of USD 5.6 billion in 2023.
 

• The increasing incidence of hair loss conditions such as androgenetic alopecia and alopecia areata is driving demand for pharmaceutical treatments. These conditions are often medically diagnosed, leading patients to seek prescription treatments from dermatologists and healthcare providers.
   
• Moreover, ongoing research and development in the field of hair growth has enabled pharmaceuticals to the introduce new and improved treatments. Innovations such as novel drug delivery systems, combination therapies, and new active ingredients enhance treatment efficacy and patient compliance. Thus, aforementioned factor is expected to spur the segmental growth.
   

Based on the gender, the global hair growth supplement and treatment market is classified into male and female. The male segment dominated with market share of 61.1% in 2023 and is expected to dominate throughout the analysis period.
 

• Hair loss is a common issue among men, with conditions like male pattern baldness affecting a significant portion of the male population. As the incidence of hair loss rises, so does the demand for effective treatments and supplements. Also, there is a growing emphasis on personal grooming and aesthetics among men. The desire to maintain a youthful appearance and boost self-confidence contributes to the demand for hair growth solutions.
   
• Thus, the rise in technological advancements and innovations in the hair growth industry including improved formulations and more effective ingredients have made treatments more accessible and attractive to men. Such advantages associated with products will augment the market growth.
   

Based on distribution channel, the hair growth supplement and treatment market are classified into hospital pharmacies, e-commerce, retail pharmacies, and other distribution channels. The hospital pharmacies segment is expected to exhibit 6.4% CAGR between 2024 - 2032.
 

• There is an increasing awareness among the population about hair loss conditions and the availability of effective treatments. Therefore, improved diagnostic techniques in hospitals will contribute to the identification and treatment of hair-related issues.
   
• Moreover, hospital pharmacies are often viewed as more reliable sources for medical treatments. Patients trust hospital-based pharmacists and healthcare professionals for their expertise and recommendations, leading to a preference for obtaining hair growth treatments from these settings.
   
• Furthermore, many effective hair growth treatments are available only through prescriptions. Therefore, hospital pharmacies, being a primary source of prescription medications, see increased demand for these treatments.
   

In 2023, North America secured a substantial market share of 44.5% in the global hair growth supplement and treatment market and is expected to dominate throughout the forecast period.
 

• North America has a significant prevalence of hair loss issues, such as androgenetic alopecia. This widespread occurrence is a primary driver for the demand for hair growth products. Also, the presence of many leading companies in the hair care industry in North America is another influencing factor for regional market growth.
   
• The companies invest heavily in research and development and distribution which support to cater to large consumer base that are increasingly aware of the importance of maintaining healthy hair. Thus, the aforementioned factor contributed to North America's dominance in the market.
   

UK to experience the highest growth rate in the market, outstripping other countries in Europe in the assessment period.
 

• Hair disorders, such as androgenetic alopecia, are relatively common in the UK. The increasing incidence of these conditions is boosting the demand for effective androgenetic alopecia treatment.
   
• For instance, as per the report published by The Treatment Rooms London, in January 2024, approximately 6.5 million men and 8 million women in the UK are currently affected by hair loss. The most common cause of hair loss is androgenic alopecia or male/ female pattern hair loss which affects 85% of men by the age of 50 and 40% of women by the age of 50.
   
• Thus, the easy availability and accessibility of hair growth products in both physical and online stores have made it easier for UK consumers to access these products, thereby enhancing market growth.
   

The India hair growth supplement and treatment market is expected to grow with a significant CAGR during the forecast period.
 

• Urbanization and the associated lifestyle changes including increased stress, pollution, and dietary habits have led to a rise in hair-related issues in India. This has boosted the demand for hair growth products among the urban population that is anticipated to propel the growth of the market.
   
• Moreover, there is a strong preference for natural and ayurvedic products in India. Consumers tend to trust and favor hair growth supplements and treatments that are based on traditional ayurvedic ingredients and natural formulations. Such aforementioned factors will foster the country level market growth.