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U.S. Finasteride Market may witness significant gains owing to its global dominance in the alopecia treatment industry

Author : Ronak Bora | Published Date : 2019-03-19 

Global Market Insights, Inc. adds new Finasteride Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.

U.S. finasteride market size may witness significant gains owing to its global dominance in alopecia treatment industry. North America generated over 2 billion revenue in alopecia market in 2015. Government approval to use finasteride in men hair loss treatment and other health problems accompanied by better results from other alternatives are influencing factors to foster regional growth.

Finasteride Market addresses hair loss brought about by change in consumer eating habits, sedentary lifestyle and rise in stress levels. Blocking the male hormone testosterone and conversion into androgen dihydrotestosterone (DHT), which is responsible for hair loss is intrinsic property responsible for global finasteride market size growth.

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Global alopecia (hair loss treatment) market was worth over USD 7 billion in 2015 and may surpass USD 11 billion valuation by 2024. Finasteride, being the solely oral medication approved by FDA for male hair loss treatment have an upper hand in alopecia market growth.

Oral drugs market valuation was over USD 500 million in 2015and may exceed USD 990 million by 2024. The segment is gaining popularity due to its safe as well as minimum dosage intake with increased drug efficacy properties. Rising stress level among people due to change in lifestyle has led to early male-pattern baldness. Increase consumer disposable income coupled with presence of easy scalp treatment process may drive finasteride market demand.

As per American Hair Loss Association, globally approximately 750 thousand people are engaged in hair loss treatment and androgenetic alopecia accounted for more than 90% of hair loss among men in 2015. Coronary heart disease and prostate enlargement are primary reasons to cause this male pattern baldness. Moreover, prostate cancer, diabetes & obesity, and high blood pressure are other responsible factors to lead men hair loss.

Positive outlook on pharmaceutical sector accompanied by increase in per capita income particularly in China and India should fuel Asia Pacific industry growth. As per industry estimates, around 20% males in China are suffering from hair loss due to hormonal changes which may stimulate China finasteride market demand.

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Pilot projects conducted by European Urology to screen trial for bladder cancer risk reduction in men from the prostate, colon, and lung, who used finasteride are positive indicators for product being host of multiple applications.

Major application includes treatment of benign prostatic hyperplasia (BPH), male pattern baldness, hormone replacement therapy. The product is demonstrated effective in men; it has contrary effects on female and children thus it is recommended to be not in touch with the medicine. In BPH, the prostate gland becomes larger in older men which causes problems with passing urine as it is situated near bladder.

Finasteride market share comprises of Merck Sharp & Dohme, Sun Pharmaceuticals, Ranbaxy Laboratories, Dr. Reddys Laboratories and Intas Pharmaceuticals. Other prominent companies include Aurobindo Pharma, Teva Pharmaceuticals, Actavis, Hetero Labs, Yabao Pharmaceuticals, Cipla, Yangtze River Pharma, Gedeon Richter, Nanjing Sanhome, Shandong Renhetang Hangzhou Conba Group, New Asia Pharma, and Qianjin Pharma.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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