Finasteride Market Size by Key Players: Merck Sharp & Dohme, Sun Pharmaceuticals, Ranbaxy Laboratories, Aurobindo Pharma, Teva Pharmaceuticals, Actavis, Hetero Labs, Yabao Pharmaceuticals, Cipla, Yangtze River Pharma, Gedeon Richter, Nanjing Sanhome
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As per American Hair Loss Association, globally approximately 750 thousand people are engaged in hair loss treatment and androgenetic alopecia accounted for more than 90% of hair loss among men in 2015. Coronary heart disease and prostate enlargement are primary reasons to cause this male pattern baldness. Moreover, prostate cancer, diabetes & obesity, and high blood pressure are other responsible factors to lead men hair loss.
Finasteride Market addresses hair loss, brought about by change in consumer eating habits, sedentary lifestyle and rise in stress levels. Blocking the male hormone testosterone and conversion into androgen dihydrotestosterone (DHT), which is responsible for hair loss is intrinsic property responsible for global finasteride market size growth.
Global alopecia (hair loss treatment) market was worth over USD 7 billion in 2015 and may surpass USD 11 billion valuation by 2024. Finasteride, being the solely oral medication approved by FDA for male hair loss treatment have an upper hand in alopecia market growth.
Major application includes treatment of benign prostatic hyperplasia (BPH), male pattern baldness, hormone replacement therapy. The product is demonstrated effective in men; it has contrary effects on female and children thus it is recommended to be not in touch with the medicine. In BPH, the prostate gland becomes larger in older men which causes problems with passing urine as it is situated near bladder.
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Finasteride shrinks an enlarged prostate in men which positively results in decreased urge to urinate, decreased night time urination, and less straining. The medication decreases the natural body hormone (DHT) amount in body which causes prostate growth. Effective results and no need for surgery are key reasons to drive demand in this segment.
Finasteride market share comprises of Merck Sharp & Dohme, Sun Pharmaceuticals, Ranbaxy Laboratories, Dr. Reddys Laboratories and Intas Pharmaceuticals. Other prominent companies include Aurobindo Pharma, Teva Pharmaceuticals, Actavis, Hetero Labs, Yabao Pharmaceuticals, Cipla, Yangtze River Pharma, Gedeon Richter, Nanjing Sanhome, Shandong Renhetang Hangzhou Conba Group, New Asia Pharma, and Qianjin Pharma.
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