Minoxidil Market: Size, Growth, Regional Analysis, And Market Analysis



Minoxidil:

Minoxidil is a topical antihypertensive that increases hair growth. Minoxidil is primarily given to treat androgenetic alopecia, although it is sometimes used off-label to treat other types of hair loss.


Market Growth:

The global Minoxidil Market was worth USD 1005.9 million in 2020 and will be worth USD 1295 million by the end of 2027, with a CAGR of 4.3 percent between 2022 and 2027.


The global minoxidil market is being driven by many factors, including health conditions such as depression, arthritis, hypertension, and, most terrifyingly, cancer, which causes hair loss in patients. Minoxidil oil and other drugs help patients regrow and strengthen their thinning hair. Unknown causes of hair loss, such as environmental factors, hair substrate variety, dietary irregularities, and daily routines, propel the global market forward.


Impact Of COVID-19:

The COVID-19 pandemic has influenced the minoxidil business in the United States, causing higher stress due to job losses and health issues and an increase in hair loss and other problems. The industry is predicted to make significant profits due to an increase in research studies on the effectiveness of minoxidil.


Regional Analysis:

Because of the increased adoption of hair-loss treatment products, North America will lead the worldwide minoxidil market. According to the American Hair Loss Association, over 80% of males have hair loss by 50. Furthermore, about 21 million women suffer from hair loss, with approximately 40% opting for active treatments. Consumers are actively using hair loss treatment items that are both safe and healthful. Over the projection period, increased availability of oral medications and apprehension about surgical procedures will drive product demand.


Due to an aging population with thin hairlines, the Asia Pacific minoxidil market is expected to increase significantly. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the population ratio of people aged 60 and up would rise from over 16 percent in 2016 to over 24 percent by 2050 in North and Central Asia. With the increasing penetration of an elderly population, Europe is witnessing a similar trend as the Asia Pacific. According to Eurostat, the middle-aged population is experiencing baldness, which is driving up product demand.


Key Players:

Pfizer Inc., ATOM PHARMA, LGM Pharma, Perrigo Company plc, AmWiner & Raphe Holdings, Johnson & Johnson Services, Inc., Sigma Aldrich (Merck KGaA), Actavis Pharma, Inc., Remedy Repack, Apotex Corporation, TRILOGY LTD, DS LABORATORIES, INC., Incredible Products, S.A. de C.V., and Taisho Pharmaceutical Co., Ltd. are the major key players of Minoxidil Market.

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