US Platelet Rich Plasma & Stem Cell Alopecia Treatment Market

Report Description

The United States of America PRP & stem cell alopecia treatment market size was USD 164.49 Million in 2022 and is likely to reach USD 255.18 Million by 2031, expanding at a CAGR of 5% during 2023–2031. The growth of the market is attributed to the rising number of people who have been suffering from alopecia along with the increasing adoption & awareness of innovative treatment procedures.

Alopecia is referred to the loss of hair of the host’s head or other parts of the body. The severity of alopecia varies from a small area at the head to the whole body. Hair loss occur due to the low resistance by the immune system present in certain parts of the host, mostly the head. Numerous reasons including heavy dandruff, environmental factors, and poor stress management can be considered the cause of alopecia, but physicians and scientists concluded that it is a genetic factor that plays the major role in hair loss. This indicates that as of now, the only means of prevention of alopecia is through platelet-rich plasma or the PRP therapies and stem cell therapies. The condition of alopecia is not necessary a fatal one, however it is the psychological stressfulness that becomes a major factor for this disease.

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According to the National Alopecia Areata Foundation in 2019, more than 7 million people in United States of America have been affected with alopecia. The worldwide statistics for the same stated by the World Health Organization or the WHO is more than 150 million in 2019. There is also a huge possibility for the number of patients of alopecia to grow at an exponential rate due to the coronavirus. The COVID-19 pandemic has hindered the growth of United States of America  PRP & stem cell alopecia treatment market initially. People facing alopecia could not afford to undergo treatment as it was expensive. However, scientists & researchers, upon further research, reported & identified that the coronavirus has numerous viral genes that can accelerate the present weakness of the hosts. The lockdown protocols have started to cause heavy levels of stress to individuals of all age groups. This leads to the rapid arrangement of clinics, healthcare laboratories, and hospitals to expand novel innovations in the treatment of alopecia. This has led to its market growth in the later stages of the pandemic.

United States of America PRP & Stem Cell Alopecia Treatment Market Trends, Drivers, Restraints, and Opportunities

• Increase in spending and investing by key companies towards the diagnosis of alopecia is a primary reason to boost the country market growth during the forecast period, 2021-2028.

• Rapid growth of the biopharmaceutical companies and thereby that industry can become a major factor in the boosting of the United States of America PRP & stem cell alopecia treatment market during the forecast period.

• High prices for the development of PRP & stem cell alopecia treatments and high cost of services from the company’s perspective is anticipated to hinder the United States of America market growth.

• PRP & stem cell alopecia treatment is still in the early stages of complete diagnosis and recovery and the success rate have not been high till date. Lack of skilled labors in this field and the reliable use of corticosteroids which has adverse side-effects can hamper the market growth.

• R&D investment and technological advancement are expected to offer significant opportunities for the market players. The United States of American Government have undertaken several steps for the reduction of overall healthcare expenditure & medical costs which includes alopecia treatment and its medical diagnostics in their healthcare insurances.

Scope of United States of America PRP & Stem Cell Alopecia Treatment Market Report

The report on the United States of America PRP & stem cell alopecia treatment market size includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

United States of America PRP & Stem Cell Alopecia Treatment Market Segment Insights

Platelet rich plasma injections segment is projected to represent a large market share

Based on treatments, the United States of America PRP & stem cell alopecia treatment market is bifurcated into platelet rich plasma injections and stem cell therapy. The platelet rich plasma injections segment constituted a major market share of 48.3% in 2019 and is anticipated to expand at a significant CAGR of 5.4% during the forecast period, 2021-2028. The major reason for the segment growth is the lower risk in terms of rejection as compared to stem cell therapy. This method involves around the platelets that are developed in the host’s body itself and there is no foreign entry apart from certain drugs. This method also has the higher success rate and new researches have all been concentrated along the PRP therapy lines.

Dermatology clinics segment is anticipated to register a large market share

On the basis of end-users, the United States of America PRP & stem cell alopecia treatment market is segmented into hospitals, dermatology clinics, and others. The dermatology clinics segment constituted a major market share of 84.7% in 2019 and is anticipated to expand at a significant CAGR during the forecast period, 2021-2028. The major reason for the segment growth is the high procedure and treatment costs taking place in hospitals and other clinic centers when compared to dermatology clinics. Dermatologists can give consulting advice which helps in the prevention of alopecia and according to the National Ambulatory Medical Care Survey or the NAMCS, over 85% of alopecia patients have been visiting dermatologists since 2019 and have found positive success rates in most cases.

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