People nowadays are concerned about topics such as hair loss. The young generation is unable to take care of themselves as a result of hectic schedules, changing lifestyles, and increased stress.
Minoxidil Market size was valued at around USD 1.5 billion in 2022 and is projected to reach USD 2.5 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
Covid-19 Impact & Market Status
COVID-19-related nationwide lockdowns in numerous countries around the world have had a financial impact on firms in all sectors. The COVID-19 pandemic, for example, has had a significant impact on the private healthcare sector.
As a result, the worldwide minoxidil market is projected to be constrained by the COVID-19 pandemic during the projection period. The whole market has been impacted by COVID-19 as a result of the effect of COVID-19 spreads, and the growth of COVID-19 has been impacted by COVID-19 as a result of the effect of COVID-19 spreads.
Latest study, thoughts, and insights on the most important management concerns to enterprises regarding the market, which is leading via the COVID-19 crisis to risk management and digitization operations in order to give trusted experiences and information to decision makers.
The sudden emergence of the COVID-19 pandemic prompted the imposition of strict lockdown measures in some countries, causing Minoxidil import and export activity to be disrupted.
The 2% Minoxidil segment currently holds the largest market share
There are two types of Minoxidil on the market: 5% Minoxidil and 2% Minoxidil. The market revenue for 2% Minoxidil is now the highest, and it is likely to rise significantly and continue to dominate the worldwide market throughout the forecast period.
The Males segment has the biggest market share
In the market, males and females are separated into two groups. Males have the greatest market share in the global industry, which is expected to expand rapidly during the projected period.
North America and Europe currently hold the largest market share
The North America and Europe currently hold the largest market share and are expected to continue to develop and dominate the Global Minoxidil Market throughout the projected period.
The global minoxidil market is likely to grow with 951.8 USD million in 2029, increasing at a CAGR of 4.8% over that time. The oil aids the user in strengthening his or her hair roots and maintaining the hair's lustre and strength. Minoxidil oil has enhanced the worldwide minoxidil market due to difficulties such as stress and over-excursion.
The vasodilator minoxidil is used to treat high blood pressure. In certain people, it also improves hair regeneration and minimizes hair loss. It's a generic medicine sold over-the-counter for the treatment of androgenic alopecia. The market for minoxidil in hair loss is investigated in this paper. Minoxidil is a topical antihypertensive that increases hair growth.
Minoxidil is primarily given to treat androgenetic alopecia, although it is sometimes used off-label to treat other types of hair loss. Minoxidil is a U.S. Food and Drug Administration (US FDA) authorised 2 percent minoxidil solution that was initially introduced to the market in 1986, followed by a 5 percent solution in 1993, and it is primarily used to promote hair growth.
According to the NCBI (National Center for Biotechnology Information), the global prevalence of severe AGA (androgenetic alopecia) was 15.33 percent in August 2015, and it varied substantially by geographical location. Each year, the risk of severe androgenetic alopecia (AGA) increased by 1.092 among males in their 30s and 40s.
Over the forecast period, industry players are expected to develop new medications, boosting market growth. In March 2016, Galderma Laboratories, a Swiss pharmaceutical company that specializes in skin care products and dermatological treatments, released qilib, and Multivitamin Supplement + Hair Health Reinforcement Biotin.
Minoxidil is a popular hair loss treatment for both women and men who have lost their hair. This medicine increases hair growth and has few significant negative effects. Manufacturers are introducing innovative oils including minoxidil as well as botanicals that provide concrete benefits to consumers, luring them to the market.
For a large section of the population, invasive hair-growth procedures are uncomfortable and out of reach. This bodes well for the worldwide minoxidil market in the next years. The product contains prescription-strength minoxidil that has been clinically confirmed to work for both men and women (5 percent minoxidil) (2 percent minoxidil). The qilib portfolio includes a ground-breaking, dual-action approach for hair thinning and hair loss.
J&J, Taisho Pharma, P&G, Zhejiang Wansheng Pharma, Zhendong Anter, DrFormulas, Renata, Costco Wholesale, Wal-Mart, and Sichuan Medco Huakang Pharma are some of the major players covered in the "Global Minoxidil Market" research report.
Latest Innovations in the Global Minoxidil Market: a Snapshot
• Follica, Inc., a biotech business developing a regenerative platform to treat androgenetic alopecia and other associated diseases, received good FDA response on its FOL-004 Phase II study, which was published in December 2019. After a successful safety and efficacy optimization trial for the treatment of hair loss in male androgenetic alopecia, the business proceeded FOL-004 into Phase III research.
Minoxidil Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 2.5 billion|
|Growth Rate||CAGR of 4.5% during 2022-2032|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||J&J, Taisho Pharma, P&G, Zhejiang Wansheng Pharma, Zhendong Anter, DrFormulas, Renata, Costco Wholesale, Wal-Mart, and Sichuan Medco Huakang Pharma|
Key Segments of the Global Minoxidil Market
Type Overview, (USD Billion)
• 2% Minoxidil
• 5% Minoxidil
Application Overview, (USD Billion)
Geographical Overview, (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa