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Key factors impacting the demand for finasteride

Author : Ravi Chawat | Published Date : 2021-02-22 

Finasteride market size will reach USD 130 Mn by 2026. Several potential side-effects associated with the administration of finasteride tablets might limit and hamper their demand in the future. However, a growing prevalence of BPH and prostate cancer worldwide will ensure the product adoption. Recent years have witnessed increased spending my men on haircare products which can also be a major factor boosting the adoption of finasteride tablets to treat male pattern baldness.

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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With respect to the substance’s application spectrum, the hair treatment segment is likely to witness robust gains owing to factors like an increase in purchasing power among the people along with the growing emphasis on the need to enhance the physical appearance. These trends drive the need for alopecia treatment that will support the demand for finasteride.

Government organizations are offering support towards the use of the chemical by spreading awareness regarding hair fall problems. Recommendations provided by medical institutes and doctors will outline finasteride consumption.

By Application

  • Prostate Treatment
    • Prostate Enlargement
    • Prostate Cancer
    • Hormone therapy (Transgender Women)
  • Hair Treatment
    • Scalp Hair Loss
    • Excessive Hair Growth

Regionally speaking, Asia Pacific finasteride industry share is likely to witness considerable expansion due to the rise in purchasing power among the people in the region which has bolstered the pharmaceutical sector. Market players in the region are involved in a flexible distribution channel to distribute their products and to meet the growing needs of the customers.

Finasteride providers are working towards increasing their global footprint by entering into strategic alliances, mergers, and acquisitions. Some of the key market players include Henan Topfond, Cipla, Shandong Renhetang Pharmaceutical, Eashu Pharmaceutical, and Dr. Reddy among various others.    

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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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