Experts and several studies have found that alopecia or hair loss can potentially have a psychological impact in the form of stress, anxiety, depression, loss of confidence, low self-esteem, suicidal thoughts, and social phobia. Hair is probably among the first things people notice in someone and tend to form an opinion about his or her personality. 

Alopecia or hair loss can potentially have a psychological impact in the form of stress, anxiety, depression, and social phobia due to its impact on one’s physical appearance stated Dr. Shome. Meanwhile, Dr. Rinky Kapoor stated that the mental health relevance and public health concern of alopecia need to be recognized and an inter‐disciplinary approach should be adopted for its resolution.

Dr. Debraj Shome, a Cosmetic Surgeon, and Dr. Rinky Kapoor, a Dermatologist at the Esthetic Clinics conducted a questionnaire-based study in different cities of Mumbai, Delhi, Kolkata, and Bangalore. Based on the data, it was noticed that in the age group of 18-30 years, 30% of males and 27% of females reported hair fall problems which impacted their social life. “This shows that what is not on the head (hair) can impact whats inside the head," concluded Dr. Debraj Shome. 

(Source: https://www.hindustantimes.com/lifestyle/health/how-hair-loss-can-impact-your-mental-health-101656947755415.html )