Albany, NY -- (SBWIRE) -- 01/07/2019 -- Androgenic alopecia is a genetic, androgen-dependent skin disorder that occurs more commonly in men than women. It affects more than 50% of men by the age of 50 years. Conventional treatment options include 5-alpha-reductase inhibitors, minoxidil, or hair transplantation. Conventional treatments have several side effects ranging from excessive hair growth, the possibility of prolonged impotence, possible birth defects if given to women of childbearing age, and decreased libido. Platelet rich plasma and stem cell therapy compared to conventional treatment have better patient outcomes without any major side effects.
Platelet rich plasma signifies a concentration of human platelets (4 to 7 times the platelet concentration above the normal blood) in a small volume of plasma. Stem cell therapies include use of those derived from hair follicles, adipose tissues found near the abdomen, or synthesized in laboratories. Platelet rich plasma and stem cells are injected into the area of alopecia. Rise in awareness, increase in adoption of platelet rich plasma and stem cell therapy procedures providing positive patient outcome, and surge in treatment rate contribute to the growth of the global market.
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Moreover, less side effects compared to conventional therapy boost demand for platelet rich plasma and stem cell therapy. Adoption of platelet rich plasma and stem cell therapy for alopecia treatment is expected to rise during the forecast period owing to increase in patient preference for novel therapies over conventional therapies, shorter treatment duration, and faster hair regrowth.
The global platelet rich plasma & stem cell alopecia treatment market can be segmented based on treatment, end-user, and region. In terms of treatment, the market can be bifurcated into bio-platelet rich plasma injections and stem cell therapy. The stem cell therapy segment is expected to account for significant share of the global market in terms of revenue due to improved patient outcome and increase in awareness. Based on end-user, the global platelet rich plasma & stem cell alopecia treatment market can be divided into hospitals, dermatology clinics, and others. The dermatology clinics segment is expected to account for significant share of the global market during the forecast period due to lower therapy cost compared to hospitals.
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Geographically, the global platelet rich plasma & stem cell alopecia treatment market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is projected to account for significant share of the global market during the forecast period, followed by Europe. This is attributed to rise in incidence and prevalence rates of alopecia, developed health care infrastructure, and surge in number of platelet rich plasma and stem cell procedures in the region. The market in Asia Pacific is expected to expand at a high CAGR during the forecast period due to increase in awareness among end-users, rise in prevalence of alopecia, surge in adoption of platelet rich plasma and stem cell procedures, and large population base. Moreover, increase in focus of key players on business expansion in the region due to low manufacturing cost propels the platelet rich plasma & stem cell alopecia treatment market in Asia Pacific.
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Major players operating in the global platelet rich plasma & stem cell alopecia treatment market include Eclipse, Restore Hair, Evolution Hair Loss Institute, Kerastem, Kyocera, and Organ Technologies.
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