Finasteride Market in Latin America to see 1.5% CAGR through 2026 | Merck, Teva Pharmaceuticals, Novartis, RelonChem, Dr. Reddy, Henan Topfond

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.

A 5 mg dosage is given to patients to treat the signs of enlarged prostate and it takes a few months to see the full effect. However, it is advised not to continue with the medication if a patient turns out to be allergic to the drug. Also, finasteride is unfit for use in women and children.

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The various prostate related treatments include prostate enlargement, prostate cancer and hormone therapy in transgender women. In 2019, the prostate enlargement segment held over 25% of the finasteride industry share and is estimated to showcase substantial growth over the coming years.

Top Key Players in The Market are:

1. Merck
2. Teva Pharmaceuticals
3. Novartis
4. RelonChem
5. Dr. Reddy and
6. Henan Topfond

In the BHP cases, it improves symptoms of the disease by providing benefits like decreased nighttime urination, lowered urge to urinate, lowers the feeling of not being able to completely empty the bladder and better flow of urine with less straining.

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In addition, the medication has been demonstrated to lessens the risk of low-grade prostate cancer in ageing men. Long-term follow up results signify that regular consumption of finasteride for around seven years, reduces the risk of low-grade prostate cancer considerably. Prostate cancer segment is forecast to experience gains of more than 2% through 2026.

Growing preference for hair loss treatments
Utilization of finasteride is also said to aid in male pattern hair loss treatment process. Growing focus on fixing receding hair lines and maintain appearance is likely to drive the demand for finasteride at hair loss treating centers.

The hair treatment segment is bifurcated into excessive hair growth and scalp hair loss. In 2019, the excessive hair growth segment held around 17% of the industry share and is anticipated to witness major growth during the analysis period. The scalp hair loss segment is likely to garner gains at over 2% during the projected timeframe on account of increasing inclination towards hair loss treatment.

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