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Finasteride Market

Finasteride Market

by Drug Dose (1mg and 5mg), Application (Prostate Treatment and Hair Treatment), and Distribution Channel (Institutional Sales and Retail Sales): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A14012
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Mar 2023 | 963 Views
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Finasteride is considered as an oral medication utilized in the treatment of benign prostate hyperplasia (BPH) caused due to enlargement of the prostate in men, which causes difficulty in urination. The drug improves BPH symptoms and decrease urge for urine and contributes to better urinating flow with less strain, gives the benefit of averting hair loss caused due to benign prostate hyperplasia and leads to growth of hair on the scalp, minimizes the chances for prostate surgery alone or in combination with other drugs, works decreasing natural body hormone (DHT), which is the key factor for prostate growth. Genetics and changing lifestyle patterns are anticipated to have a notable impact on global finasteride market.

COVID-19 Impact analysis

  • Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the global finasteride market.

Top Impacting Factors
Increase in the geriatric population, rise in concern about aesthetic look to improve the pattern of hair growth, the adoption of high technology distribution channels to facilitate easy export–import of finasteride drive the market growth for finasteride.
Lack of awareness related to treatment options available for benign prostate hyperplasia among the general population, the emergence of generic drugs, alternatives such as minimally invasive & surgical procedures, and minimum purchasing capacity of the population are anticipated to affect global finasteride market growth in the coming decade. 
There has been an exponential rise in cases of baldness among men due to extreme weather conditions and increased levels of pollution, which is expected to boost the demand for finasteride. Furthermore, rise in investment in research and development activities and development of online pharmacies are markable opportunity for growth and market expansion of finasteride.
Market Trends
New product launches to flourish the market

  • Various strategies such as product strategy, marketing strategies, distribution strategies, and product portfolio expansion are acquired by the key players in the finasteride market to raise their revenue share. On another side, rise in mergers and acquisitions has been observed between the leading players and clinical-stage development bio-pharmaceuticals, which will result in the growth of the finasteride market. 
  • In August 2020, the generic version of Merck’s Propecia was launched by Mylan N.V. into the U.S. market after receiving approval from the U.S. Food and Drug Administration (FDA) for the male pattern hair loss treatment.
  • In January 2021, declaration has been made by an oncology biopharmaceutical company Veru Inc. about advancing a new drug formulation, including a combination of Tadalafil and Finasteride in its product pipeline to accomplish the unmet medical needs in the  urology department

Key Benefits of the Report

  • This study presents the analytical depiction of the finasteride industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the finasteride market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed finasteride market analysis based on competitive intensity and how the competition will take shape in coming years

Questions Answered in the Finasteride Market Report

  • Who are the leading market players active in the finasteride market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is "finasteride "?
  • What is "finasteride" market prediction in the future?
  • Who are the leading global players in the "finasteride" market?
  • What are the current trends and predicted trends?
  • What are the key benefits of the "finasteride" market report?

Finasteride Market Report Highlights

Aspects Details
By Drug Dose
  • 1mg
  • 5mg
By Application
  • Prostate Treatment
    • Prostate Enlargement
    • Prostate Cancer
    • Hormone Therapy (Transgender Women)
  • Hair Treatment
    • Scalp Hair Loss
    • Excessive Hair Growth
By Distribution Channel
  • Institutional Sales
    • Hospitals
    • Specialty Clinics
    • Research Institutes
  • Retail Sales
    • Retail Pharmacies
    • Online Pharmacies
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Merck and Company, Novartis International AG, Teva Pharmaceuticals Limited, Dr Reddy’s, RelconChem Limited, Actavis Pharmaceutical Company, Cipla Ltd, Accord Pharmaceuticals, Henan Topfond, Zhejiang CONBA Pharmaceutical, Guangdong Eashu Pharmaceutical, Shandong Renheteng Pharmaceutical, Mylan N.V., Veru Inc.

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