Global Minoxidil Market to Surpass US$ 1,345.6 Million by 2027, Says Coherent Market Insights (CMI)
SEATTLE--(BUSINESS WIRE)--#Alopecia--According to Coherent Market Insights, the global minoxidil market is estimated to be valued at US$ 951.8 million in 2020 and is expected to exhibit a CAGR of 4.8% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Minoxidil Market:
Key trends in the market include rising incidence of androgenetic alopecia & alopecia areata and ongoing research and development on minoxidils.
Market players and research organizations are focusing on research and development of novel drugs for treatment of alopecia areata. For instance, University of Minnesota initiated to evaluate the safety and efficacy of fractionated ablative 10,600nm CO2 laser assisted delivery of 2% minoxidil solution in the treatment of male pattern hair loss (MPHL). The trail is in recruiting phase initiated in October 2020 and expected to be completed by July 2021.
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, minoxidil can lead to unwanted hair growth in various body parts. This incidence majorly occurs in females, spontaneous incidence occurs first on the face and arms (1–3 months), followed by the legs (4–5 months) after minoxidil termination.
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Key Market Takeaways:
The global minoxidil market is expected to exhibit a CAGR of 4.8% during the forecast period, owing to the rising incidence of alopecia or hair loss across the globe. For instance, according to the American Hair Loss Association, by the age of 21, around 25% of men will suffer pattern baldness in the U.S.
Key players in the market are focusing on drug development for the treatment of androgenetic alopecia, which is expected to propel the market growth during the forecast period. For instance, in March 2017, Perrigo Company plc launched over-the-counter version of the brand equivalent of women's Rogaine 5% minoxidil foam (minoxidil topical aerosol, 5% foam).
Key players operating in the global minoxidil market include 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
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- Global Minoxidil Market, By Type:
- 5% Minoxidil
- 2% Minoxidil
Global Minoxidil Market, By Route of Administration:
Global Minoxidil Market, By Gender:
Global Minoxidil Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Minoxidil Market, By Region:
- Rest of Latin America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
- North America
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Hair Loss Treatment Market, by Type (Noncicatricial (Telogen Effluvium, Androgenetic Alopecia, and Alopecia Areata), Cicatricial, and Others), by Product Type (Corticosteroids, Antihypertensives, Topical Immune-modulators, and Others), by Route of Administration (Oral and Topical), by Gender (Male and Female), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Senior Client Partner – Business Development
Coherent Market Insights
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