Singapore Alopecia Therapeutics Market Insights Forecasts to 2033

• The Singapore Alopecia Therapeutics Market Size was valued at USD 10.8 Million in 2023.
• The Market Size is Growing at a CAGR of 7.81% from 2023 to 2033
• The Singapore Alopecia Therapeutics Market Size is Expected to reach USD 22.9 Million by 2033

The Singapore Alopecia Therapeutics Market Size is anticipated to Exceed USD 22.9 Million by 2033, Growing at a CAGR of 7.81% from 2023 to 2033. The increasing aging population, rise in alopecia, demand for effective treatment, and increasing disposable income are driving the growth of the alopecia therapeutics market in the Singapore.     

Market Overview

Alopecia therapeutics refers to the medication treatment that aids in stimulating hair growth. Corticosteroids and immunosuppressants including anti-inflammatory medications are typically used in treatment and are delivered orally, topically, or by local injections. Further, minoxidil, anthralin, SADBE, and DPCP are prescribed to either stimulate hair growth or influence the immune system. The emergence of hair restoration drug therapies having improved efficacy with minimal side effects is providing lucrative market growth opportunities for alopecia therapeutics. For instance, cytokine therapy, regenerative cell therapy, stem cell therapy, and technological advancements that include low-level laser therapy and the use of laser caps, helmets, combs, and bands.

Report Coverage

This research report categorizes the market for the Singapore alopecia therapeutics market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore alopecia therapeutics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore alopecia therapeutics market.

Driving Factors

According to a 2022 Singaporean survey on beauty, about 44% of participants cited hair loss as their top concern. The increasing cases of alopecia hair loss along with the increasing aging population is responsible for driving the market demand. The introduction of a wide variety of advanced modern treatments for hair loss like PRP (platelet-rich plasma) therapy and laser treatments with tailored approaches as per the causes of hair loss are propelling the market growth. Further, the increasing consumer spending on hair care products and awareness about the benefits of these products are augmenting the market growth.  

Restraining Factors

The side effects associated with alopecia drug medications are challenging the Singapore alopecia therapeutics market. Further, the high cost of alopecia treatment restricts its accessibility, thereby hindering market growth.

Market Segmentation

The Singapore Alopecia Therapeutics Market share is classified into route of administration, gender, age group, and end user.

• The topical segment is dominating the Singapore alopecia therapeutics market during the forecast period.

The Singapore alopecia therapeutics market is segmented by route of administration into topical, injectables, and oral. Among these, the topical segment is dominating the Singapore alopecia therapeutics market during the forecast period. Topical treatment including corticosteroids, anthralin, minoxidil, cyclosporin, phototherapy, and methotrexate are some of the immunotherapy treatment options for hair loss. The increasing innovation in formulation technology and the emergence of personalized treatment solutions are driving the market.

• The male segment dominated the Singapore alopecia therapeutics market with the largest market share during the forecast period.       

Based on the gender, the Singapore alopecia therapeutics market is divided into male and female. Among these, the male segment dominated the Singapore alopecia therapeutics market with the largest market share during the forecast period. Male androgenetic alopecia (MAA) is the most common form of hair loss which occurs in a highly reproducible pattern, which may be responsible for affecting the person's quality of life. The emerging treatment approach for treating androgenetic alopecia in men is bolstering the market growth in the male segment. For instance, oral finasteride 1 mg is FDA-approved for treating male androgenic alopecia (AGA).

• The 18-34 years segment is anticipated to hold the largest market share during the forecast period.

The Singapore alopecia therapeutics market is segmented by age group into below 18 years, 18-34 years, 35-49 years, and above 50 years. Among these, the 18-34 years segment is anticipated to hold the largest market share during the forecast period. It is estimated that the proportion of men with moderate and extensive hair loss increases with age. The majority of patients in the 18–34 age range have alopecia areata, the first stage of the disorder, and seek therapy right away to prevent more hair loss. The increasing prevalence of alopecia in the country is responsible for driving the market demand.

• The dermatology clinics segment dominates the market through the forecast period.

The Singapore alopecia therapeutics market is segmented by end user into hospitals & physicians offices, dermatology clinics, and others. Among these, the dermatology clinics segment dominates the market through the forecast period. The increasing hair loss issues with the increasing preference for dermatology clinics for treatment as compared to home care settings is driving the market in the dermatology clinics segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore alopecia therapeutics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Merck & Co
• Sun Pharmaceuticals
• Johnson & Johnson
• Cipla Limited
• Lexington International LLC
• Capillus
• Follica Inc
• Transitions Hair Pty Ltd
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Singapore, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Singapore Alopecia Therapeutics Market based on the below-mentioned segments:

Singapore Alopecia Therapeutics Market, By Route of Administration

• Topical
• Injectables
• Oral

Singapore Alopecia Therapeutics Market, By Gender

• Male
• Female

Singapore Alopecia Therapeutics Market, By Age Group

• Below 18 years
• 18-34 years
• 35-49 years
• above 50 years

Singapore Alopecia Therapeutics Market, By End User

• Hospitals & Physicians offices
• Dermatology Clinics
• Others