Research Nester published a report titled “Finasteride Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalfinasteride market in terms of market segmentation by product type, application, distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global finasteride market is estimated to occupy a large revenue by growing at a CAGR of ~4% during the forecast period, i.e., 2022 – 2030, attributing to the rising prevalence of baldness among men, increasing cases of prostate cancer, and growing R&D activities in the pharmaceutical industry. Apart from these, rise in geriatric population and growing consumer spending on hair care products are also expected to provide growth opportunities to the market in the coming years.
The global finasteride market is segmented by product type, application and distribution channel. Based on application, the prostate treatment segment is anticipated to grab the largest market share during the forecast period on the back of growing number of cases of benign prostate hyperplasia (BPH). Additionally, the hair treatment segment is projected to witness the highest market growth in the future ascribing to the increasing occurrence of alopecia among youngsters.
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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific region is evaluated to witness noteworthy growth in the market during the forecast period attributing to rising usage of finasteride in underdeveloped and developing nations and increasing number of hair product launches in the region. Moreover, the market in North America is assessed to occupy the largest market share in the coming years owing to the strong presence of market players in the region.
Growing Incidences of Prostate Cancer and Hair Loss to Boost Market Growth
The population on a global level has witnessed a major shift in their lifestyles over the last two decades. This has given rise to many health-related problems including male pattern baldness and prostate cancer. Furthermore, people nowadays are more conscious about aesthetic look than never before. These factors are anticipated to drive market growth in the forthcoming years.
However, side effects associated with the use of finasteride and growing availability of alternative treatments are expected to operate as key restraints to the growth of the finasteride market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global finasteride market which includes company profiling of Novartis International AG, Merck Sharp & Dohme Corp., Teva Pharmaceuticals Limited, RelconChem Limited, Cipla Ltd., Zhejiang CONBA Pharmaceutical, Actavis Pharmaceutical Company, Dr. Reddy’s Laboratories, Henan Topfond Pharmaceutical Co., Ltd, Guangdong Eashu Pharmaceutical, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global finasteride market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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