Pharmaceutical companies in South Korea are intensifying their efforts to develop more convenient and effective solutions for hair loss, responding to the increasing number of individuals grappling with this issue.
According to market research firm Research and Markets, the global hair loss treatment market has been experiencing robust growth, with an estimated annual growth rate of 8.4 percent. In 2020, the market was valued at approximately $3.5 billion, and it is anticipated to reach approximately $6.2 billion by 2027.
Recent reports highlight that the Korea Drug Development Fund (KDDF) has chosen JW Pharmaceutical’s investigative hair loss treatment, JW0061, as a novel therapy candidate for state support. This selection is aimed at providing financial backing for non-clinical trial research. JW Pharmaceutical asserts that JW0061 has the potential to regenerate hair follicles and yield more effective results compared to traditional oral hair loss treatments, which may lead to hair loss recurrence upon treatment discontinuation. 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 slated for the first quarter of 2024.
Historically, existing hair loss treatments have largely focused on therapies like finasteride and dutasteride, which target male-pattern baldness driven by hormonal and genetic factors. While these medications were initially developed for addressing prostate enlargement, they have been repurposed for hair loss treatment. However, one potential side effect of these drugs is sexual dysfunction due to their mechanism of inhibiting male hormones. Another option, minoxidil, is a topical hair loss solution mainly used for female-pattern baldness but often yields limited results when used in isolation and can lead to skin conditions.
As a result, there is a growing interest in developing hair loss treatments that offer greater convenience and long-lasting efficacy compared to the aforementioned oral medications requiring daily consumption.
Chong Kun Dang, for instance, is currently 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 user convenience.
Biotech startup Inventage Lab has developed a long-acting injectable hair loss treatment based on finasteride, aiming to make the treatment more stable and effective. The company is presently gearing up for phase 3 clinical trials.
Meanwhile, OliX Pharmaceuticals, another South Korean firm, is taking a distinct approach by developing OLX104C, a hair loss treatment that minimizes side effects by delivering the medication directly to the affected area, reducing systemic exposure. The drug, currently undergoing phase 1 trials in Australia, offers 3 to 4 weeks of efficacy with a single dose, presenting a highly convenient treatment option for both men and women.
