LONDON, Oct. 24, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company's Alopecia Areata Global Market Report 2023, the global alopecia areata market is on a steady growth trajectory, with expectations to increase from $3.08 billion in 2022 to $3.31 billion in 2023, marking a substantial compound annual growth rate (CAGR) of 7.5%. This growth trend is set to persist, projecting a market value of $4.35 billion by 2027, sustaining a CAGR of 7.1%. The surge in hair loss prevalence is a major driving force behind this growth, emphasizing the role of innovative treatments in addressing this common condition.

A Growing Prevalence of Hair Loss

Hair loss, a condition that disrupts the body's natural hair growth cycle, is increasingly prevalent. Alopecia areata, characterized by the immune system's attack on hair follicles leading to hair loss, is commonly treated with corticosteroids and other potent anti-inflammatory medications. For instance, a recent article by the Hair Society reported that hair loss affects approximately 21 million women and 35 million men globally. The growing prevalence of hair loss is a significant factor driving the alopecia areata market.

Learn More In-Depth On The Alopecia Areata Market

https://www.thebusinessresearchcompany.com/report/alopecia-areata-global-market-report

Key Players in the Alopecia Areata Market

Major players shaping the alopecia areata market include Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Novartis AG, and Bristol-Myers Squibb Company, among others. These industry leaders are focused ...

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