Global Minoxidil Market Size To Worth USD 1.89 Billion By 2033 | CAGR Of 4.65%
Category: HealthcareGlobal Minoxidil Market Size To Worth USD 1.89 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Minoxidil Market is to Grow from USD 1.2 Billion in 2023 to USD 1.89 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.65% during the projected period.
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Browse key industry insights spread across 195 pages with 140 Market data tables and figures & charts from the report on the"Global Minoxidil Market Size, Share, and COVID-19 Impact Analysis, By Type (5% Minoxidil and 2% Minoxidil), By Form (Topical and Oral), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/minoxidil-market
Minoxidil is a medicine that is used to treat high blood pressure and alopecia in both men and women. Minoxidil solution and foam are used to encourage hair growth during male pattern baldness treatment, which will help boost the minoxidil market. Minoxidil foam enhances drug penetration, boosts active ingredient delivery, and alleviates scalp irritation. Topical minoxidil is the FDA-approved drug for treating female pattern hair loss (FPHL), and around 40% of women found 5% minoxidil foam beneficial for hair growth. The biggest retail pharmacy corporations have concentrated on growing their physical presence to gain a larger market share, which will benefit the minoxidil market's growth. However, the long-term use of minoxidil raises safety concerns for some potential consumers, which might limit market expansion.
The 5% minoxidil category holds the biggest market share over the projection period.
Based on the type, the global minoxidil market is divided into 5% minoxidil and 2% minoxidil. Among these, the 5% minoxidil category holds the biggest market share over the projection period. Minoxidil 5% solution contains 5% minoxidil, which is used to treat hair loss and promote hair growth in men and women. It stimulates hair follicles, improves blood flow to the scalp, and promotes hair regeneration. Minoxidil 5% solution helps thicken existing hair and prevent further hair loss. The increasing usage of 5% minoxidil solution in a range of hair care formulations will drive industry expansion.
The topical sector holds a large market share during the predicted term.
Based on the form, the global minoxidil market is categorized into topical and oral. Among these, the topical sector holds a large market share during the predicted term. Topical minoxidil is a well-established hair regeneration treatment. It is commonly used to treat male and female androgenetic alopecia (hereditary hair loss shown as pattern baldness); however, it can also treat thinning hair and other hair loss issues. Topical minoxidil treatment for hair loss is available over the counter as a solution or foam. Topical minoxidil solution stimulates follicles to enter the development stage of the hair growth cycle, dilates blood vessels, and increases blood supply to hair follicles.
North America is having the biggest share of the global minoxidil market over the forecast period.
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North America is having the biggest share of the global minoxidil market over the forecast period. The expanding end-user demand and adequate supply from key manufacturers are projected to boost market expansion in the area. Baldness, scant scalps, and early hair loss are becoming more prevalent in the region. This has prompted firms in North America to introduce superior hair care products. The chemical's availability in a number of forms, such as tablets, injections, capsules, and gels, together with rising consumer demand for these goods, will generate new growth opportunities for the regional sector.
Europe is predicted to grow fastest pace throughout the forecast period. Minoxidil's European market performance was mixed, especially in Germany. The market started on a strong note, with demand from the end-user pharmaceutical sector matching the total supply among market participants.
Major vendors in the global minoxidil market include Par Pharmaceuticals, Provizer Pharma, Bakul Group of companies, Metapharmaceutical Ind. S.L, LOY Pharma Lab, Inc, Dr. R. Pfleger Chemical Factory GmbH, Kumar Organic Products Limited, Ltd, Pharhome International Limited, McNeil Consumer Healthcare, Pfizer, Renata Limited, Maruti Futuristic Pharma Pvt. Ltd, Changzhou Tianhua Pharmaceutical Co, Nanz Med Science Pharma Private Limited, ViaDerma, Inc, and Others.
Recent Developments
- In March 2023, ViaDerma, Inc. announced plans to sell a novel hair regeneration product including Minoxidil (topical route). The company combines its unique and patent-pending dual carrier transdermal delivery technology with Minoxidil to create a novel hair regeneration product.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global minoxidil market based on the below-mentioned segments:
Global Minoxidil Market, By Type
- 5% Minoxidil
- 2% Minoxidil
Global Minoxidil Market, By Form
- Topical
- Oral
Global Minoxidil Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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