Development of hair loss treatments speeds up as market grows

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South Korean pharmaceutical companies are diligently focusing on developing more convenient and effective treatments for hair loss as the number of individuals suffering from hair loss continues to rise.

According to market research firm Research and Markets, the global hair loss treatment market has exhibited significant growth, with an estimated annual growth rate of 8.4 percent. The market size stood at about $3.5 billion in 2020 and it is projected to reach around $6.2 billion by 2027.

Recent reports indicate that the Korea Drug Development Fund (KDDF) has selected JW Pharmaceutical’s investigating hair loss treatment, JW0061, as a novel therapy candidate for state support, with the selection aiming to financially support non-clinical trial research. JW Pharmaceutical claims that JW0061 has the potential to regenerate hair follicles and leads to more effective results compared to traditional oral hair loss treatments, which may lead to hair loss recurrence when treatment is discontinued. The company plans to submit an Investigational New Drug (IND) application to the Korean Ministry of Food and Drug Safety based on non-clinical results, with clinical trials scheduled for the first quarter of 2024.

Existing hair loss treatments have primarily focused on therapies such as finasteride and dutasteride, which target male-pattern baldness caused by hormonal and genetic factors. While these medications were originally developed for the treatment of prostate enlargement, they have been repurposed for hair loss treatment. However, one of the medicines’ potential side effects is sexual dysfunction due to their mechanism of inhibiting male hormones. Another treatment option, minoxidil, is a topical hair loss solution that can be used for female-pattern baldness, but it often yields limited results when used by itself and could lead to skin conditions.

Consequently, there is a growing interest in developing hair loss treatments that offer greater convenience and long-lasting efficacy in comparison to the abovementioned oral medications that require daily consumption.

Chong Kun Dang, for instance, is conducting phase 1 clinical trials for CKD843, a long-acting hair loss injection based on the ingredient dutasteride. This approach aims to provide sustained drug efficacy, enhancing convenience for users.

Biotech startup Inventage Lab has also developed a long-acting injectable hair loss treatment based on finasteride, aiming to make the treatment more stable and effective. Currently, the company is preparing for phase 3 clinical trials.

Fellow Korean company OliX Pharmaceuticals is taking a different approach by developing OLX104C, a hair loss treatment that minimizes side effects by delivering the medication directly to the affected area, which also reduces systemic exposure. The drug, which is being evaluated in a phase 1 trial in Australia, provides 3 to 4 weeks of efficacy with a single dose, and offers both men and women a highly convenient treatment option, the company said.