UAE Alopecia (Hair Loss) Therapeutics Market Analysis

UAE Alopecia Therapeutics Market Analysis: Executive Summary

The UAE Alopecia (Hair Loss) Therapeutics Market is at around US $41 Mn in 2022 and is projected to reach US $79 Mn in 2030, exhibiting a CAGR of 8.5% during the forecast period.

Alopecia, characterized by patchy hair loss, impacts a significant number of individuals, presenting as localized or diffuse, temporary or permanent, affecting people of all ages and genders. The condition, arising from various causes, can lead to significant distress among patients, influencing their overall quality of life. Some risk factors include elevated stress levels, diabetes, poor nutrition, and environmental influences. Common symptoms encompass hair loss, thinning hair, and bald patches on the scalp. Treatment options range from the application of topical medications such as minoxidil or corticosteroids directly to the scalp to injections and oral medications with more potent immunosuppressive effects. Light therapy and hair transplantation are also viable alternatives. Notably, companies like Eli Lilly, with their JAK inhibitor Baricitinib, and Bayer, with Rogaine (minoxidil), are actively at the forefront of advancing treatments for this condition.

The United Arab Emirates is a country located in Western Asia. The risk factors associated with Alopecia such as stress, the environmental landscape, and lifestyle changes, result in an increased prevalence of Alopecia in UAE. The market is being fuelled by important factors such as the growing aging population and the subsequent surge in Alopecia, demographic shifts, and increasing disposable income contributing to the therapeutics industry. However, challenges in market accessibility and limited awareness are a few factors that limit the market's potential.

Market Dynamics

Market Growth Drivers

Rising prevalence of Alopecia: Like many other regions globally, alopecia is becoming more prevalent in the UAE, especially among young adults and women. The expanding population affected by this condition enhances the market potential for a variety of treatment options. Factors such as stress, environmental shifts, and lifestyle changes play a role in the increasing cases of alopecia, further boosting the demand in the market.

Demographic shift and socioeconomic factors: The UAE has a young and affluent population that has the willingness to spend on cosmetic procedures, including solutions for hair loss, propelling market expansion. With a growing disposable income, individuals have increased financial means to afford innovative and potentially costly treatments for alopecia. The ongoing urbanization and adoption of Western trends in the UAE expose individuals to a broader range of hair loss solutions, contributing to heightened market awareness and demand.

Advanced treatment options: The approval of JAK inhibitors such as Baricitinib (Olumiant) presents an oral medication alternative for Alopecia, potentially drawing in patients in search of more modern and effective treatments. Continuous exploration and advancement in various alopecia therapies, such as hair follicle cloning, gene therapy, and mesotherapy, carry the potential for groundbreaking developments in the future, adding to the investments in the market. The UAE's emergence as a medical tourism destination appeals to individuals from neighbouring countries seeking advanced alopecia treatment options not readily available in their own regions.

Market Restraints

Limited awareness: Despite progress, the overall understanding and awareness of alopecia and its diverse treatment options among the general public are not currently optimal. This lack of awareness has the potential to result in delays in diagnosis and the timely pursuit of care. Moreover, in specific communities, social stigma related to hair loss and associated with negative stereotypes can deter individuals from seeking treatment, adversely impacting their mental health.

Market accessibility: The complex regulations and delays in Ministry of Health (MOH) approvals can impede the timely initiation of treatment with newer alopecia medications. Geographic disparities in healthcare delivery may arise, particularly in rural areas, where limited access to specialists and specialized medications can be a challenge. The absence of local manufacturing, given that most alopecia medications are imported, adds to their cost and increases the potential for disruptions in the supply chain.

Healthcare Policies and Regulatory Landscape

Healthcare policy and regulations in the UAE are overseen by both federal and emirate-level entities. The Ministry of Health and Prevention serves as the primary federal regulatory body, while the Department of Health (DOH) in Abu Dhabi, the Dubai Health Authority (DHA), and the recently established Emirates Health Authority (EHA) are key emirate-level authorities.

The UAE government has given high priority to the healthcare sector, resulting in significant advancements. With a robust healthcare system and a focus on clinical research, the nation is poised to become a regional hub for healthcare.

The licensure process in the UAE follows a hierarchical structure involving various authorities, starting with federal regulations and extending to emirate-level bodies like the DOH. Additionally, there are healthcare-free zones in Dubai with their own regulatory bodies and criteria.

Competitive Landscape

Key Players

• Aclaris Therapeutics
• Pfizer
• Johnson & Johnson
• Merck & Co
• Cipla Limited
• Sun Pharmaceuticals
• GlaxoSmithKline plc
• Follicum
• iRestore Hair Growth system
• Theradome