Minoxidil Market Size 2021-2028 | Generated Opportunities | Comprehensive Study - Pfizer, ATOM PHARMA, LGM Pharma, Perrigo Company, AmWiner & Raphe Holdings

Minoxidil solution and foam are used to help hair growth in the treatment of male pattern baldness. It is not used for baldness at the front of the scalp or receding hairline in men. The foam and 2 percent minoxidil solution is also used to help hair growth in women with thinning hair.Minoxidil belongs to a class of drugs known as vasodilators. It is not known how minoxidil causes hair growth.

Minoxidil is majorly prescribed for treatment of androgenetic alopecia and it is also used as an off-label treatment for other hair loss conditions. Minoxidil is U.S. Food & Drug Administration (U.S. FDA) approved, 2% minoxidil solution and was first launched in the market in 1986, followed by the 5% solution in 1993, and they are majorly applicable in hair growth promotion.

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Minoxidil is an antihypertensive available in topical as well as oral solution used for hair loss treatment. It helps to stimulate hair growth and to slow balding. This drug is U.S. Food & Drug Administration (U.S. FDA) approved for androgenetic alopecia and female pattern hair loss. Moreover, it is also available off label for alopecia areata, beard enhancement, and central centrifugal cicatricial alopecia.

Rising incidence of androgenetic alopecia is expected to drive the global minoxidil market growth. According to the National Library of Medicine (NLM), a medical library which is part of the National Institutes of Health (NIH), androgenetic alopecia affects approximately 50 million men and 30 million women in the U.S.

However, side effects of minoxidil is expected to hinder the market growth. For instance, according to the National Center for Biotechnology Information (NCBI), August 2019, topical minoxidil show some side effects such as irritant contact dermatitis with the typical symptoms of itching and scaling.

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Top Key Players:

Pfizer Inc., ATOM PHARMA, LGM Pharma, Perrigo Company plc, AmWiner & Raphe Holdings, Johnson and Johnson Services, Inc., Sigma Aldrich (Merck KGaA), Actavis Pharma, Inc., Remedy Repack, Apotex Corporation, TRILOGIC LTD, DS LABORATORIES, INC., Incredible Products, S.A. de C.V., and Taisho Pharmaceutical Co., Ltd among others.

Minoxidil Market Segmentation

Based on type, the absolute Minoxidils segment contributed to the largest share in 2021, accounting for more than two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period.

By Type:

5% Minoxidil
2% Minoxidil

By Route of Administration:

Oral
Topical

By Gender:

Male
Female

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

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