Finasteride market size has been projected to surpass US$130 million by 2026 | 2.5% CAGR

In the latest research report collated by Global Market Insights, Inc., finasteride market size has been projected to surpass US$130 million by 2026.
With finasteride medication becoming instrumental in decreasing the amount of natural body hormone, it has become highly sought-after to boost the hair growth and derail hair loss. Lately, there has been a palpable trend for finasteride 1MG that can reduce the levels of DHT in the scalp, thereby playing instrumental role in helping reverse the balding process.

Traction for finasteride 1mg products is being witnessed for the treatment of the first stage of the hair loss in males. Notably, finasteride 1 mg tend to stabilize the process of the androgenetic alopecia in the 18-41 year old males.

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Demand stemming from rise in prostate cancer
Unprecedented rise in the number of prostate cancer has signified the relevance of finasteride among the end-users. According to the American Cancer Society, there will be around 191,900 cases of prostate cancer, with around 33,330 deaths in 2020. Accordingly, use of finasteride to reduce the size of prostate gland has surged in recent years. Besides, finasteride enhances the sensitivity of the PSA test meant for the detection of high-grade prostate and overall cancer.

While finasteride has not been approved by FDA for prostate cancer prevention, it has received green signal for the treatment of urinary symptoms owing to benign prostatic hyperplasia (BPH). Finasteride market will witness noticeable growth as finasteride has become a viable choice for BHP treatment and will ultimately reduce the risk of developing prostate cancer.

Opportunities galore in finasteride 5mg
Use of finasteride 5 mg, or 5-alpha-reductase inhibitors, has been claimed to shrink the prostate gland in men when it is swollen. It is believed that finasteride derails the action of 5-alpha reductase.
There may be opportunities galore in using finasteride for scalp hair loss and prostate cancer. It is worth noting that finasteride treats PH by derailing production of a male hormone which causes prostate enlargement. Finasteride has been found to be instrumental in treating male pattern hair loss by derailing production of a male’s hormone in the scalp.

With pervasive prostate cancer being reported in the U.S., investors are likely to invest in North America finasteride market. Moreover, upsurge in geriatric population in the U.S., Mexico and Canada will also boost confidence of stakeholders. According to American Cancer Society, around 6 cases out of 10 are diagnosed in men who are 65 or older.

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Finasteride is a prescription drug, that is used to treat male pattern baldness or enlarged prostrate/ benign prostate hyperplasia in adult men. The demand for finasteride is gradually growing on account of significant rise in prostate cancer cases and growing prevalence of hair loss in men.
The drug specifically functions by reducing natural body hormone, which is known as DHT, which is the key factor responsible for prostate enlargement.

The controlling of DHT aids in preventing prostate from growing larger, and further mitigate the risk of cancer. The drug also facilitates increased hair growth and control hair loss in men. Growing awareness pertaining to prostate cancer and increased focus of men in fixing receding hair lines is poised to drive finasteride market growth.

Latin America finasteride market is estimated to exhibit a growth rate of 1.5% through 2026. The antiandrogenic effects of finasteride have shown promising results in hormone replacement therapy for transgender women. Revenues from hormone therapy segment in the market in transgender women is estimated to exceed USD 0.105 thousand by 2026.

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