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Global prevalence of BPH to drive finasteride market

Author : Ravi Chawat | Published Date : 2020-11-20 

Global finasteride market size will exceed a valuation of more than US$130 million by 2026, with increasing occurrence of male pattern baldness and BPH across the globe. With the growing focus on haircare, a large number of men are willing to spend heavily on haircare products. These trends will undeniably propel the adoption of finasteride in the future. I

Benign prostatic hyperplasia (BPH), commonly known as prostate gland enlargement, is a common and prevailing condition in older men. BPH is not the same as prostate cancer and neither does it increase the risk of prostate cancer. However, it affects a large percentage of the global male population and negatively impacts their quality of life. Statistical figures show that almost half of all men aged between 51 and 60 show symptoms of BPH and approximately 90% of men aged 80 or more have it. It is estimated that nearly 30 million men worldwide have symptoms associated with BPH.

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Proscar is an FDA-approved drug for the treatment of symptomatic BPH in men with enlarged prostate gland to alleviate symptoms, minimize the rise of acute urinary retention, and eliminate the need for surgery including prostatectomy and transurethral resection of the prostate (TURP).

With finasteride medication becoming instrumental in decreasing the amount of natural body hormone, it has become highly sought-after to boost the hair growth and derail hair loss. Lately, there has been a palpable trend for finasteride 1MG that can reduce the levels of DHT in the scalp, thereby playing instrumental role in helping reverse the balding process.

Traction for finasteride 1mg products is being witnessed for the treatment of the first stage of the hair loss in males. Notably, finasteride 1 mg tend to stabilize the process of the androgenetic alopecia in the 18-41 year old males.

Finasteride is a prescription drug, that is used to treat male pattern baldness or enlarged prostrate/ benign prostate hyperplasia in adult men. The demand for finasteride is gradually growing on account of significant rise in prostate cancer cases and growing prevalence of hair loss in men.

The drug specifically functions by reducing natural body hormone, which is known as DHT, which is the key factor responsible for prostate enlargement. The controlling of DHT aids in preventing prostate from growing larger, and further mitigate the risk of cancer. The drug also facilitates increased hair growth and control hair loss in men. Growing awareness pertaining to prostate cancer and increased focus of men in fixing receding hair lines is poised to drive finasteride market growth.

Latin America finasteride market is estimated to exhibit a growth rate of 1.5% through 2026. The antiandrogenic effects of finasteride have shown promising results in hormone replacement therapy for transgender women. Revenues from hormone therapy segment in the market in transgender women is estimated to exceed USD 0.105 thousand by 2026.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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