The recent report published by Market Research Future (MRFR) has stated that the Global Hirsutism treatment market is expected to grow at the CAGR of ~13.6% during the forecast period and is estimated to reach USD 5295.0 million by 2023.
Increasing procedures, growing awareness of treatments, increasing personal care expenditure, and technological advancement are major factors for the market growth. Increasing R&D and new product development are also important factors for market growth.
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Hirsutism is a condition of excessive, unwanted, and male-pattern hair growth in women. Hirsutism results in unwanted hair growth on body areas such as face, stomach, back, and chest. About 5% of US women have hirsutism.
- AbbVie Inc. (US)
- Allergan (Republic of Ireland)
- Bayer AG (Germany)
- Bristol-Myers Squibb Company (US)
- Jubilant Cadista (US)
- Pfizer Inc. (US)
- Sun Pharmaceutical Industries Ltd. (India)
Global hirsutism treatment market has been segmented on the basis of type which comprises of idiopathic hirsutism, secondary hirsutism, and others.
On the basis of diagnosis, the market is segmented into blood tests, imaging tests, physical examination, and others. Blood tests sub-segmented into testosterone level test, DHEA-sulfate test, and others. Imaging test sub-segmented into ultrasound, CT scan, and others. Physical examination sub-segmented into inspection, auscultation, palpation and percussion, and others.
On the basis of end user, it is segmented into hospitals and clinics, medical research centers, academic institutes, and others.
On the basis of treatments, the market has been segmented into medications, procedures, and others. Medication is sub-segmented into oral contraceptives, anti-androgens, topical cream, and others. Procedures include electrolysis, laser therapy, and others.
Considering the global scenario of the market, America is holding the largest market share. The Americas are second largest hirsutism treatment market, especially developed North America region is holding the largest market share not only in America but also in global hirsutism treatment market. While UK is believed to be the fastest growing market for hirsutism treatment in European region. Factors like technological advancement, and increasing demand for treatments are leading the growth for this region. Europe is the second largest market for hirsutism. Due to Increasing awareness, rising healthcare expenditure, availability of affordable healthcare facilities, Asia Pacific is fastest growing region in global hirsutism market. Middle East and Africa contributes least market share and expected to grow slower than global average growth rate.
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.
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Detailed Table of Contents:
1. Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Market Dynamics
4.4 Mega Trends
4.5 Macroeconomic Indicators
5. Market Factor Analysis
5.1 Value Chain Analysis
5.2 Porters Five Forces
5.3 Demand & Supply: Gap Analysis
5.4 Pricing Analysis
5.5 Investment Opportunity Analysis
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