Hirsutism Market Size, Share, Industry Trends and Forecast to 2030

Hirsutism Market Size & CAGR in 2021

The global hirsutism market is expected to reach a market size of USD 1.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 4.2% from 2021 to 2025. The market growth can be attributed to various factors such as increasing awareness about hirsutism, advancements in treatment options, and rising prevalence of hormonal disorders.

COVID-19 Impact on the Hirsutism Market

The COVID-19 pandemic has had a significant impact on the hirsutism market. Due to the lockdowns and restrictions imposed during the pandemic, many patients were unable to access healthcare services, leading to delays in diagnosis and treatment of hirsutism. Additionally, the economic impact of the pandemic has resulted in reduced healthcare spending by individuals, affecting the market growth.

Hirsutism Dynamics

Hirsutism is a condition characterized by excessive hair growth in women in areas where men typically grow hair. It is often caused by hormonal imbalances, such as elevated levels of androgens. The market for hirsutism treatment is driven by factors such as increasing awareness, growing prevalence of hormonal disorders, and advancements in treatment options.

Segments and Related Analysis

The hirsutism market can be segmented based on treatment type, including medication, laser therapy, and others. Medication-based treatments are commonly prescribed for hirsutism and include oral contraceptives, anti-androgens, and topical creams. Laser therapy is another effective treatment option that targets hair follicles to reduce hair growth.

By Region Analysis

The hirsutism market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America currently dominates the market due to increased awareness, better healthcare infrastructure, and higher disposable income. However, the Asia Pacific region is expected to witness significant growth due to the rising prevalence of hormonal disorders and increasing healthcare expenditure.

Key Market Players and Competitive Landscape

Some of the key players in the hirsutism market include AbbVie Inc., Allergan Plc, Bayer AG, Pfizer Inc., and Novartis AG. These companies are focusing on research and development activities, strategic collaborations, and product launches to strengthen their market position and meet the growing demand for hirsutism treatment.

Recent Happenings in the Hirsutism Market

- In 2021, Allergan Plc launched a new oral medication for hirsutism treatment, which showed promising results in clinical trials.
- AbbVie Inc. announced a partnership with a leading research institution to develop innovative therapies for hirsutism management.
- Pfizer Inc. introduced a novel topical cream for hirsutism patients, providing a non-invasive treatment option with minimal side effects.