Alopecia, commonly referred to as hair loss, is a prevalent dermatological condition that affects individuals of different ages and may have considerable physical, psychological, and social consequences. It is a multifactorial disorder associated with genetic, hormonal, immune-mediated, inflammatory, nutritional, systemic, and environmental factors. Depending on the underlying pathology, alopecia may present as nonscarring or scarring hair loss, with clinical patterns ranging from diffuse shedding and progressive follicular miniaturization to localized patches and permanent follicular destruction. This review provides a comprehensive overview of alopecia, including the normal hair-growth cycle, classification, pathophysiology, clinical manifestations, diagnostic approaches, complications, and current management strategies. Conventional treatments such as topical minoxidil, antiandrogenic therapies, corticosteroids, immunomodulatory agents, and hair transplantation remain important therapeutic options. Recent advances have expanded the treatment landscape through targeted therapies, particularly Janus kinase inhibitors for alopecia areata, as well as emerging approaches such as platelet-rich plasma, low-level light therapy, microneedling, follicular stem-cell activation, stem-cell-based therapies, exosomes, extracellular vesicles, and novel drug-delivery systems. Nutraceuticals and micronutrient supplementation may provide adjunctive benefits, particularly in patients with documented nutritional deficiencies, although evidence supporting routine supplementation remains variable. In addition to clinical manifestations, alopecia can significantly impair self-esteem, body image, psychological well-being, social functioning, and overall quality of life. Therefore, early diagnosis and individualized, multidisciplinary management are essential. Continued research into follicular biology, immune pathways, androgen signalling, regenerative medicine, and personalized therapeutic strategies is expected to improve treatment outcomes and provide safer and more effective long-term approaches for individuals affected by alopecia.