Potential commercial opportunities in the hair loss market are considerable as we believe the potential drugs being developed by Follicum promise to offer considerable benefits over currently available treatments; including improved effect and fewer side effects.
At the same time the demand for more efficacious products is growing and new markets are opening up in many areas of the world, such as China and India, as they become more affluent and westernized.
In the established market of America hair loss sufferers spend more than 3.5 billion USD a year in an attempt to treat their hair loss, and 99% of all the products being marketed are completely ineffective for the majority of those who use them, according to The Washington Post.
In the developing market of China, the use of western hair-loss treatments jumped by 90 percent to 100.7 million yuan (16.4 MUSD) in the five years through 2012, according to researcher Euromonitor International. That’s almost double the growth rate of China’s broader 33.6 billion yuan market for hair- care products. About 21 percent of adult males and 6 percent of females in China suffer from hormone- driven hair loss.