According to a recent market study published by Growth Market Reports, titled, “Global Minoxidil and Finasteride API Market by types, by disease type, by route of administration, and by region: Size, Share, Trends and Opportunity Analysis, 2019-2030”, the market was valued at US$ 142.1 Million in 2021 and is anticipated to grow at a growth rate of 6.4% by the year 2030.

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Minoxidil (C9H15N5O) medications come in two varieties to treat a variety of conditions. Minoxidil is used topically to treat hair loss and baldness and is taken orally to treat high blood pressure. Finasteride (C23H36N2O2) is a medication that is commonly used to treat the symptoms of benign prostatic hyperplasia (BPH) and male pattern hair loss (androgenic alopecia). Finasteride increases the number of scalp hairs in men who are balding.

The Global Minoxidil and Finasteride API Market have been segmented in terms of types, disease type, route of administration, and region. In terms of types, the global Minoxidil and Finasteride API market are split into Minoxidil API and Finasteride API. Based on the disease type, the market is divided into Minoxidil API (Alopecia treatment, Hypertension), Finasteride API (Alopecia treatment, BPH treatment, Other). On the basis of the route of administration, the market is fragmented into topical, oral, and injectable. As regions, the market is separated into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted monetary differences, global interdependence, and governance challenges. The global Minoxidil and Finasteride API market were slightly negatively impacted by the covid-19 because of disturbances in the supply chain, project cancellations, and company shutdowns due to the lockdowns imposed in various countries to contain the disease spread. The inability of workers to appear on site affected producers. This, in turn, impeded the growth of the market. However, the post-COVID-19 impact is projected to increase in manufacturing and distribution of minoxidil and finasteride products offline and online (E-commerce) among people and hair growth supplements, due to stress and other factors. Also, to moderate global supply chain risks, manufacturers are expected to rise in in-house production through new robotic automation technology in the near future.

As per growth market reports by industry analyst Divyanka Sankhe, “The expanding application market, healthcare, and pharmaceutical and nutraceuticals industry are expected to contribute to the growth of the global Minoxidil and Finasteride API market.

Key Takeaways from Study

  • The players in the global Minoxidil and Finasteride API market include Dr. Reddy’s Laboratories Ltd; Global Calcium PVT LTD; Global Pharma; Samex Overseas; Ralington Pharma; ICROM; Beloor Bayir; Flamma Group; SynZeal Research Pvt; Curia global; Tiefenbacher API + Ingredients; Taj Pharmaceuticals. These hold a major market share of the global Minoxidil and Finasteride API market in the year 2021.
  • Awareness about hypertension was significantly lower among young adults as compared to older adults. However, Minoxidil is a widely used and thoroughly tested medication; however, it has various side effects expected to limit the usage of Minoxidil and Finasteride API and the market.
  • Innovations in drugs and products related to hair care and increasing urbanization contribute to the rising awareness about hair regrowth treatment among people. Treatments help stop or slow hair loss and aid in the regrowth of hair. Minoxidil topical medication is used as a liquid and as a foam, creating lucrative opportunities for key players.
  • Based on types, the market is segmented into minoxidil and finasteride. In 2021, the minoxidil segment held the largest market share and is expected to grow with a 6.6% CAGR over the forecast period, due to it slows the progression of hair loss and promotes hair regrowth.
  • In terms of route of administration, the market has split the Market is fragmented into topical, oral, and injectable. A growing number of manufacturers are focusing on R&D activities on topical products. The occurrence of androgenetic alopecia or pattern hair loss in men and women is boosting the demand for the topical drug.
  • In terms of regions, the global Minoxidil and Finasteride API markets are divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America had a significant share of the global market in 2021, owing to the growing consciousness among consumers for hair regrowth & nourishment through the damage-preventing benefits, which is anticipated to boost the market in the coming years. The market in Europe accounts for a considerable share of the market, due to an increase in preference for BPH and alopecia treatment during the forecast period in the region.

Report Scope

Report Metric

Details

Market Value in 2021

US$ 142.1 Million

Market Growth Rate (from 2022 to 2030)

6.4%

Historical Data

2019 & 2020

Base Year

2021

Forecast Period

2022 – 2030

Units Considered

Value (US$ Million)

Market Segments

By Types, By Disease Type, By Route of Administration, and By Region

Key Companies Profiled

Dr. Reddy’s Laboratories Ltd; Global Calcium PVT LTD; Global Pharma; Samex Overseas; Ralington Pharma; ICROM; Beloor Bayir; Flamma Group; SynZeal Research Pvt; Curia global; Tiefenbacher API + Ingredients; Taj Pharmaceuticals

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Vendor, Manufacturer, Distributors, Supplier, Retailer.
  • Demand Side: Healthcare, Pharmaceuticals, Cosmetic, and Others.
  • Regulatory Side: Concerned government authorities, and other approved regulatory bodies.
  • Associations and Industry Bodies: World Health Organization (WHO), Food Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), etc.