What is the future of Finasteride Market? Know Covid Impact on Size,
Share & Forecasts

Mar
22,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden
outbreak of the COVID-19 virus have brought many major and minor tremors to
industries of all sizes including the Finasteride
Market.

It was estimated prior to this unanticipated
outbreak that the Finasteride Market was expected to grow at a CAGR of 2.9%
during the forecast period. However, the gradual slowing down of industries
will undoubtedly impose limits on the previously estimated growth rate.

Finasteride is a medication used
for the treatment of enlarged prostate or hair loss in men, treatment of
excessive hair growth in women, and used as a part of hormone therapy for
transgender women.

The prime factor that is contributing to the
demand for finasteride is the constantly rising cases of prostate cancer. Also,
the consumer’s preference for hair treatment and increasing expenditure on hair
care products to further drive the market.

This report studies the market
covering a period of 12 years of trend and forecast. The report provides
detailed insights into the market dynamics to enable informed business decision
making and growth strategy formulation based on the opportunities present in
the market.

Based on the product type, the
market is segmented as 1mg and 5mg. The 1mg segment dominated the
finasteride market in 2019. Increasing cases of male baldness due to
genetics, illness, stress, and medicine side effects to foster the demand of
these products. Also, the rising aging population in countries such as Germany,
Italy, the UK, and France has created huge demand for hair loss treatment
products.

Based on the application type,
the finasteride market is segmented as prostate treatment and hair
treatment. Prostate treatment application is likely to grow at a faster
pace during the forecast period, owing to increasing cases of
prostate-related diseases.

In terms of regions, North
America is the major market for finasteride. The products are widely used
in the US for the treatment of male baldness and prostate-related diseases.
Also, the North American region has a strong presence of major finasteride
manufacturers, including Merck & Co., Inc., Teva Pharmaceutical Industries
Ltd, and Cipla Limited.

Key Players:

Some of the major
finasteride manufacturers are-

• Cipla Limited


• Dr. Reddy's Laboratories


• Guangdong Eashu Pharmaceutical Co., Ltd


• Henan Topfond Pharmaceutical Co., Ltd


• Merck & Co., Inc.


• Novartis AG


• Relonchem Limited


• Shandong Renhetang Pharmaceutical Co., Ltd


• Teva Pharmaceutical Industries Ltd


• Zhejiang CONBA Pharmaceutical Co., Ltd.