U.S. Minoxidil Market 2021 Growth Opportunities and Competitive Landscape 2027 - Walmart, Costco Wholesale Corporation, LGM Pharma
Citing one such instance, in January 2021, a study published in the Dermatologic Therapy supported the efficacy of intramedal injections with 0.5% minoxidil for the treatment of FAGA (Female Androgenetic Alopecia). The study revealed that, in comparison to women who obtained placebo injections, those treated with minoxidil demonstrated remarkable improvements in hair volume and hair loss.
Such studies are expected to promote the penetration of minoxidil topical solutions through the forthcoming years. On this note, the U.S. minoxidil market size is expected to surpass USD 800 million by 2027, states the latest study by Global Market Insights, Inc.
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U.S. minoxidil industry is competitive with key players including Walmart, Costco Wholesale Corporation, LGM Pharma, Renata Limited, FLAMMA GROUP, Perrigo Company PLC, Johnson and Johnson Consumer Inc, Par Pharmaceuticals, Metapharmaceutical Ind S.L. and Kumar Organics Products Limited. Companies are primarily engaged in launching new products which allow convenient and safe use and should provide greater opportunities to product market.
Considering the latest industry trends, the topical 2% minoxidil solution is in high demand owing to its usage for the prevention of severe hair loss issues amongst individuals suffering from androgenetic alopecia. The 2% concentration formulation is expected to surpass growth by more than USD 135 million as it is utilized as an antihypertensive drug for the treatment of hypertension and numerous hair loss issues in people. Furthermore, the 5% concentration is anticipated to account for a dominating share of the U.S. minoxidil industry by formulation type. This is because of the rising preference for the product in the manufacturing of men hair care products.
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The market is driven by the surging awareness in consumers regarding the risk associated with invasive methods of hair transplant and increasing inclination towards minoxidil topical solutions and medication for hair treatment.
However, numerous minoxidil side effects and high cost associated with the product represent market challenges that can restrict the growth of the U.S. minoxidil market value. Additionally, the altering nature of government regulations regarding the usage of products which can harm human health and can have side effects are likely to hinder industry growth to a certain extent.
On the whole, an increase in consumer adoption of numerous hair care products for the purpose of overcoming hair loss problems will augment U.S. minoxidil market size through the anticipated period.
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