Market
Synopsis
The global hirsutism
market is presumed to expand at 13.6 % CAGR during the forecast period (2017-2023)
owing to the rising expenditure on personal care, asserts Market Research
Future (MRFR). Hirsutism is a condition where a woman faces unwanted and excessive male-pattern hair growth on her body.
The unwanted hair growth is mainly found in
areas such as back, face, stomach, and chest and is majorly caused due to hyperandrogenism which may be ovarian or
adrenal. Some of the common symptoms include balding, deepening of voice, decreased breast size, acne, enlargement
of the clitoris, and others.
Drivers
and Constraints Impacting the Market
Women are nowadays getting
more conscious regarding their looks which is further influencing them to opt
for hirsutism treatment. Laser therapy is one the most demanding treatments
among the women driving the market. With the increasing availability of
treatment and products along with the increasing awareness regarding hirsutism is
propelling the market growth during the assessment period. Also, growing demand
from emerging economies such as South America and Asia are likely to foster the
market. Moreover, hospitals are investing in
technology upgradation in order to
provide effective treatment to their patients which is further expanding the
market growth during the review period.
On the flip side, low per
capita healthcare expenditure among the low and middle-income countries and
lack of awareness regarding hirsutism are some of the major factors likely to retard
the market growth in the coming years. Moreover, the cost of medical laser
systems is high which makes it hard to afford for every individual, thereby
hampering the market growth.
Global
Hirsutism Market: Segmental Analysis
The global hirsutism
market has been segmented on the basis of type, diagnosis, treatment,
end-user, and region.
By mode of type, the global
hirsutism market has been segmented into
secondary hirsutism, idiopathic hirsutism, and others.
By mode of diagnosis, the
global hirsutism market has been segmented
into physical examination, blood tests,
imaging tests, and others. Among these, the segment for blood-test is further
sub-segmented into DHEA-sulfate test, testosterone level test, and others. The
physical examination segment is sub-segmented into palpation and percussion,
inspection, auscultation, and others. The imaging test is sub-segmented into CT
scan, ultrasound, and others.
By mode of treatment, the
global hirsutism market has been segmented
into procedures, medications, and others. Among these, the medications segment is
sub-segmented into anti-androgens, topical cream, oral contraceptives, and
others. Procedures comprise laser therapy, electrolysis, and others.
By mode of end-users, the
global hirsutism market has been segmented
into hospitals and clinics, academic institutes, medical research centers, and
others.
Regional
Insights
Geographically, the
hirsutism market span across four main regions namely, Europe, America, Asia
Pacific, and the Middle East and Africa.
Among all the regions,
America is estimated to hold the largest market share
owing to the increasing demand for treatment and technological advancements in
this region. North America is considered to be the dominant region in America.
The U.S. generates the highest revenue in this region.
Asia
Pacific is considered to be the fastest growing region owing to increasing
expenditure on healthcare, growing awareness regarding hirsutism, and
availability of affordable healthcare facilities in this region.
Europe is
considered to be the second largest market owing to the presence of
countries such as France, Germany, and the U.K. On the other hand, the Middle
East and Africa showcases the least market share and is anticipated to expand
at a slower rate than the average growth rate.
Industry
News
A change in the law in Western Australia has drastically reduced
the price of laser hair removal. SILK Laser Clinics, which once sold a 67 %
stake to the Advent Partners in a deal valuing it between $50 million and $100
million, has opened its first two clinics in WA.
Competitive
Dashboard
The major players
operating the global market are Bayer AG (Germany), Bristol-Myers Squibb
Company (US), AbbVie Inc. (US), Allergan (Republic of Ireland), Sun
Pharmaceutical Industries Ltd. (India), Jubilant Cadista (US), Pfizer Inc. (US),
and others.
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