Finasteride Market Insights, Current and Future Trends & Forecast 2018-2027 | Merck, Actavis, Sandoz, Teva Pharmaceuticals, Cipla, RelonChem, Dr. Reddy’s Laboratories, Veru Inc., Accord Pharmaceuticals, Henan Topfond, Zhejiang CONBA Pharmaceutical, Mast

Finasteride, a synthetic form of vitamin D, is the most widely prescribed drug to treat enlarged prostate in men. It is usually taken in conjunction with other medicines to decrease symptoms of enlarged prostate and can also reduce the risk of surgery. It is often prescribed for the treatment of enlarged prostates in men after the age of 40. Finasteride blocks the enzyme 5 alpha-reductase that converts testosterone into DHT (dihydrotestosterone). It acts on the receptors in the prostate and inhibits the action of DHT in the prostate gland by inhibiting the enzyme.

The increasing prevalence of alopecia is expected to propel the growth of the global finasteride market over the forecast period. For instance, according to a 2019 survey released by the China Association of Health Promotion and Education (CAHEP), one out of six Chinese people, or about 250 million people, are suffering from hair loss. Moreover, the increasing geriatric population is also expected to aid in the growth of the market. For instance, according to the United Nations Population Fund, the geriatric population in the Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.

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However, product recalls are expected to hinder the growth of the global finasteride market. For instance, in May 2020, MasterPharm, LLC voluntarily recalled 1 lot of Finasteride Plus 1.25mg, capsules to the consumer level, owing to the presence of undeclared minoxidil, an antihypertensive drug, at levels greater than those found in FDA approved products. Moreover, finasteride can lead to side effects such as impotence, abnormal ejaculation, dizziness, and others, which is also expected to limit market growth.

Key Takeaways:

1. Increasing prevalence of prostate cancer is expected to propel the growth of the global finasteride market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be around 174,650 men with newly diagnosed prostate cancer in the U.S., registering a 6% increase from 2018.

2. Major players operating in the global finasteride market are focused on the approval and launch of new products to expand their product portfolio. For instance, in June 2019, Veru Inc. concluded its pre-New Drug Application meetings with the U.S. Food and Drug Administration for TADFIN (tadalafil 5mg and finasteride 5mg combination) formulation for the treatment of benign prostatic hyperplasia.

3. Major players operating in the global finasteride market include, Merck, Actavis, Sandoz, Teva Pharmaceuticals, Cipla, RelonChem, Dr. Reddy’s Laboratories, Veru Inc., Accord Pharmaceuticals, Henan Topfond, Zhejiang CONBA Pharmaceutical, MasterPharm, LLC, Shandong Renhetang Pharmaceutical, Guangdong Eashu Pharmaceutical

4.The Finasteride Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Finasteride Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.

The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.

The Key Manufacturers covered in this Report:-

-- Merck
-- Actavis
-- Sandoz
-- Teva Pharmaceuticals
-- Cipla
-- RelonChem
-- Dr. Reddy
-- Accord Pharmaceuticals
-- Henan Topfond
-- Zhejiang CONBA Pharmaceutical
-- Shandong Renhetang Pharmaceutical
-- Guangdong Eashu Pharmaceutical

By the Product Type, the market is primarily segmented into:

-- 1mg Tablet
-- 5mg Tablet

By Applications, the market is segmented into:

-- Medical Uses
-- Application II

The report covers the following Regions:

-- North America
-- Asia Pacific
-- Europe
-- Central & South America
-- Middle East & Africa

Objective of the Finasteride Market Report:

• To assess the size of the market by value and volume
• Analyze the Finasteride Market in terms of regions and major countries
• Highlight recent developments and trends in the market
• Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
• Determine share of the Finasteride Market in terms of various segments such as by product type, application, and end-user
• Offer accurate projection of the market for the forecast period using state-of-the-art tools and the current primary and secondary research approaches
• Discuss major factors that impact the growth of the Finasteride Market

The Finasteride Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Finasteride Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.

For the data information by region, company, type, and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

Key Stakeholders:

• Material suppliers/wholesalers
• Market Distributors/traders
• Regulatory bodies
• Research organizations, and consulting firms
• Commercial research & developments (R&D)
• Trade associations and industry bodies
• Importers and exporters
• End-use industries

Available Customizations:

Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.

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