Minoxidil Market size growth will be driven by the overall demand for hair loss treatment. Dilating small blood vessels and allowing hair regrowth by enhancing cell clichés are key factors for this product, an attractive hair regrowing medication among men and women. Hectic lifestyle, change in eating habits, rising stress level and hormonal changes are responsible factors for hair loss.
Global alopecia (hair loss treatment) market was valued at more than USD 7.2 billion in 2015, which expects to exceed USD 10 billion revenue by 2024. Approval from FDA to be sold the medication without prescription over the counter for men and women makes the product more approachable in the market.
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Effective results and minimal risk to health are key features fueling minoxidil demand. Global revenue from non-prescription treatments was over USD 1.2 billion in 2015. Positive outlook towards consumer purchasing power along with availability of many hair treatment processes should positively enhance minoxidil market growth.
According to American Hair Loss Association, worldwide more than 700 thousand people involved in hair loss treatment, androgenic alopecia holds about 90% of hair loss cases among men and women. Coronary heart disease, different types of cancer, diabetes & obesity, and high blood pressure are major factors causing hair loss.
Encouraging government outlook pertaining to use minoxidil for hair loss medication among men and women accompanied by minimum dosage may foster Europe minoxidil market demand.
Minoxidil was originally marketed for high blood pressure treatment in a tablet form. However, unwanted hair growth made the product less attractive for high blood pressure medication. Extensive R&D owing to its hair growth properties has resulted in to a successful topical solution for hair regain treatment.
The product is widely used in alopecia, male & female pattern hair loss treatment, and after hair replacement surgery or chemotherapy. The solution comes under 2% and 5% formulation, medically 5% formulation is designed for men and 2% for women due to its high concentration which may adversely affect women.
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It helps in dilating small blood vessels when used on the affected scalp areas twice daily it has been resultant to hair regrowth by enhancing cell clichés. There is also a possibility for an effect on the immune cells in the hair follicle. Usually the medication results will be visible after four months’ treatment and claimed to result in thin and fine hair than the original. However, skin irritation, itching, scalp dryness, dizziness, chest pain, and increased or decreased blood pressure are some side effects may occur on product consumption.
Moreover, unwanted hair growth if solution dropped on forehead, hair growth in chest, arms and lower back is observed when 5% solution is used. It also claims to be avoided for pregnant women owing to its harmful effect on fetus.
This latest Minoxidil Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Minoxidil industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report “Minoxidil Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024.” in detail along with the table of contents:
Key Insights in this Report
- Global Minoxidil Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Minoxidil Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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