Global Finasteride
Market Report
2024
Finasteride market size is USD 125.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.00% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Finasteride market size is USD 125.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.00% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Finasteride Market Sales Revenue 2024 | $ 125.2 Million |
Global Finasteride Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 3% |
North America Finasteride Market Sales Revenue 2024 | $ 50.08 Million |
North America Finasteride Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 1.2% |
Europe Finasteride Market Sales Revenue 2024 | $ 37.56 Million |
Europe Finasteride Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 1.5% |
Asia Pacific Finasteride Market Sales Revenue 2024 | $ 28.8 Million |
Asia Pacific Finasteride Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5% |
South America Finasteride Market Sales Revenue 2024 | $ 6.26 Million |
South America Finasteride Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2.4% |
Middle East and Africa Finasteride Market Sales Revenue 2024 | $ 2.5 Million |
Middle East and Africa Finasteride Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2.7% |
Market Split by Application |
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Market Split by Type |
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Market Split by Distribution Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Finasteride Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Pharmaceutical goods with the active component finasteride, which is mainly used to treat benign prostatic hyperplasia (BPH) and male pattern baldness (androgenetic alopecia), are included in the finasteride market. Finasteride reduces the growth of the prostate and slows hair loss by blocking the enzyme that converts testosterone to dihydrotestosterone. Because finasteride is a commonly prescribed medicine, its market is strong due to the high frequency of these illnesses and the increasing public awareness of their treatments. Pharmaceutical businesses that produce branded and generic formulations and have distribution channels, including pharmacies, hospitals, and internet platforms, are among the market players. Finasteride sales are expanding because to improved treatment choices and a growing focus on men's health, even in the face of regulatory obstacles and sporadic market disruptions.
Male pattern baldness, also known as androgenetic alopecia, is becoming more commonplace and affects a large percentage of males globally. Among the most successful therapies for this ailment is finasteride. Growing interest in hair loss remedies is predicted to drive up demand for finasteride. This drug functions by preventing testosterone from being converted to the hormone dihydrotestosterone (DHT), which is connected to hair loss. Finasteride is well-positioned to play a significant role in satisfying the growing demand from men seeking hair preservation and baldness treatments, providing hope to individuals suffering from male pattern baldness.
Men's concerns about their prostates, particularly benign prostatic hyperplasia (BPH), are on the rise. As a useful therapy option, finasteride has shown promise in shrinking the prostate and easing related urological problems. An aging population and an increasing focus on men's health will likely lead to an increase in the use of finasteride for prostate health. Finasteride presents a viable option for treating BPH and enhancing men's quality of life as they search for practical remedies. Its significance for prostate health is expected to grow, reflecting a wider understanding of the value of preventive methods for managing men's health.
The research and commercialization of new drugs are subject to a complex regulatory environment that presents considerable obstacles to releasing innovative finasteride-based therapies. Regulatory bodies set strict guidelines that call for lengthy clinical trials and tough approval procedures to guarantee the safety, effectiveness, and caliber of medications. Overcoming these regulatory obstacles can be difficult and time-consuming for businesses looking to launch novel finasteride formulations or applications. The market entry process is made more difficult by the need for significant financial and professional resources to comply with regulatory standards. As a result, the stringent regulatory framework poses a significant obstacle to innovation in the field of finasteride-based treatments, which may restrict the availability of fresh treatment choices for problems related to prostate health and male pattern baldness.
The COVID-19 epidemic has had a significant effect on the finasteride market. Because disorders like benign prostatic hyperplasia and male pattern baldness are chronic, the demand for finasteride has remained largely consistent. However, changes in healthcare delivery and supply chains have impacted market dynamics. Prescription rates and sales quantities have fluctuated due to lockdown procedures, fewer patient visits to healthcare professionals, and economic uncertainty. Delays have also hampered the launch of new finasteride-based medications in clinical trials and regulatory procedures. Notwithstanding these difficulties, the pharmaceutical industry has been resilient, adjusting its tactics to get around pandemic-related roadblocks and continue providing vital services to those in need of finasteride therapy.
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Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.
Top Companies Market Share in Finasteride Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The market for finasteride is expanding in North America due to factors such as the increased prevalence of benign prostatic hyperplasia and male pattern baldness, rising awareness of potential therapies, and an increasing focus on men's health. To take advantage of this trend, pharmaceutical companies are increasing their presence in the area, propelling additional market expansion and innovation in finasteride-based products.
The Europe region is witnessing an increase in the sales of reagents. The market for finasteride is expanding in Europe due to a rise in benign prostatic hyperplasia and male pattern baldness. Growth in the market is being driven by rising knowledge of prostate health and hair loss treatments and improvements in the healthcare infrastructure. To address the rising demand, pharmaceutical companies are taking advantage of these chances by launching new finasteride formulations and increasing their market share in Europe.
The current report Scope analyzes Finasteride Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global Finasteride market size was estimated at USD 125.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 50.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.2% from 2024 to 2031. Male pattern baldness and benign prostatic hyperplasia are becoming more common, and people are becoming more aware of the treatments that may be used to treat them. These factors are driving growth in the finasteride market in North America. The internet distribution channel is a rapidly expanding area that provides consumers seeking finasteride for hair loss and prostate health concerns with accessibility and ease. As demographic trends and technology improvements intersect, North America continues to be a major force behind market expansion. In summary, pharmaceutical businesses have considerable potential to profit from the expanding demand for finasteride products due to the dynamic landscape of the region.
Country Analysis
According to Cognitive Market Research, with a market value of USD 125.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 1.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 37.56 million. The demand for efficient therapies is being driven by the rising incidence of benign prostatic hyperplasia and male pattern baldness, which is fueling the finasteride market in Europe. Notably, the generic pharmaceutical industry is growing at a significant rate and provides affordable substitutes for name-brand drugs. Europe is a promising region for market expansion as knowledge of men's health increases and healthcare systems place more emphasis on it. In summary, the region's adoption of generic finasteride choices highlights its dedication to offering easily accessible and reasonably priced healthcare treatments, hence driving additional market expansion.
According to Cognitive Market Research, the global Finasteride market size was estimated at USD 125.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 28.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031. The finasteride market in Asia Pacific is expanding significantly against the backdrop of rising awareness of benign prostatic hyperplasia and male pattern baldness. This expansion is being driven by the growing e-commerce platform, which makes finasteride easily accessible to customers around the region. Asia Pacific has enormous market growth potential due to its vast population and rising disposable incomes. To sum up, the adoption of online channels by the region is indicative of a changing healthcare environment in which accessibility and convenience are critical factors in fulfilling the increasing demand for finasteride products.
According to Cognitive Market Research, the global Finasteride market size was estimated at USD 125.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 6.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031. The market for finasteride is expanding in Latin America as people become more aware of benign prostatic hyperplasia and male pattern baldness. The rise in demand for branded finasteride medications, which is mostly due to customer confidence in well-known pharmaceutical names, is particularly significant. Latin America has a growing middle class and a developing healthcare system, which means there are many prospects for market growth. To sum up, the region's inclination toward branded drugs emphasizes the value of reputation and dependability when selecting pharmaceuticals, which is fueling the finasteride market's consistent expansion throughout Latin America.
According to Cognitive Market Research, the global Finasteride market size was estimated at USD 125.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 2.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031. The market for finasteride is expanding gradually across the Middle East and Africa as people become more aware of benign prostatic hyperplasia and male pattern baldness. Notably, the pharmaceutical retail business is experiencing notable expansion, with a demand for both branded and generic finasteride products. The area offers great prospects for market expansion due to its expanding healthcare expenditures and growing healthcare infrastructure. To sum up, the availability of finasteride in retail settings highlights the significance of easy access to medical care, which is fueling the market's steady expansion across the Middle East and Africa.
Global Finasteride Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Finasteride Industry growth. Finasteride market has been segmented with the help of its Application , Type Distribution Channel, and others. Finasteride market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Benign Prostatic Hyperplasia (BPH) held the major market share over the forecast period. Due to the rising incidence of benign prostatic hyperplasia, the finasteride market is growing (BPH). Aging populations and growing awareness of BPH symptoms are driving up demand for drugs like finasteride. Pharmaceutical firms are investing in the research and promotion of finasteride-based therapies as men look for ways to manage the urine symptoms associated with BPH, which is fueling the market's continued rise.
Male pattern baldness is the fastest-growing category over the forecast period. The market for finasteride is expanding due to male pattern baldness. Men are losing hair faster than ever, driving up demand for hair loss medications like finasteride. Increased treatment choices and awareness-raising initiatives have further spurred market growth. Pharmaceutical companies are introducing innovative finasteride formulations to capitalize on this trend and meet the increasing demands of people looking for remedies for male pattern baldness.
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According to Cognitive Market Research, Branded finasteride medications hold a prominent market share. The market is expanding because of its well-established reputation and perceived effectiveness. Many customers choose branded products over generic ones, even if generic alternatives are readily available because they believe that well-known pharmaceutical names are more trustworthy and reliable. Branded manufacturers maintain their growth trajectory by maintaining their dominance in the finasteride market through aggressive marketing efforts and effective pricing methods.
Generic is the fastest-growing category over the forecast period. The market for generic finasteride is growing as more people choose less expensive substitutes for name-brand drugs. Due to its comparable effectiveness and reduced cost, people seeking therapy for illnesses such as benign prostatic hyperplasia and male pattern baldness are finding generic finasteride to be increasingly appealing. The rising trend of generic drugs is driven by efforts to limit healthcare costs and growing acceptance and trust in these drugs.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Finasteride market report 2024 Edition by contacting our team.
According to Cognitive Market Research, Hospital Pharmacies held the major market share over the forecast period. By giving patients receiving treatment for ailments like benign prostatic hyperplasia and male pattern baldness easy access to the drug, hospital pharmacies are helping the finasteride industry expand. Hospital pharmacies are stocking and distributing finasteride due to healthcare facilities' growing recognition of the significance of managing men's health. This facilitates the drug's wider availability and helps the market grow.
Online Providers are the fastest-growing category over the forecast period. Online pharmacies that provide easy access to finasteride for people seeking treatment for benign prostatic hyperplasia and male pattern baldness are having a substantial impact on the market's growth. Online providers are expediting finasteride prescriptions, expanding the medication's reach, and driving market growth through enhanced accessibility. This is due to the rise of telemedicine and direct-to-consumer healthcare platforms.
Senior Research Associate at Cognitive Market Research
Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.
Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over three years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies.
In her current role, Manjiri handles the market research related to Pharma and healthcare industry. Her passion lies in utilizing innovative approaches to distill complex information into strategic insights that empower organizations to make informed decisions.Manjiri remains an invaluable asset in the dynamic landscape of market research.
Disclaimer:
Application | Benign Prostatic Hyperplasia (BPH) , Male pattern baldness |
Type | Branded , Generic |
Distribution Channel | Hospital Pharmacies , Online Providers , Drug Stores and Retail Pharmacies |
List of Competitors | Guangdong Eashu Pharmacetical, Shandong Renhetang Pharmaceutical, Henan Topfond, RelonChem, Actavis, Cipla, Sandoz, Teva Pharmaceuticals, Zhejiang CONBA Pharmaceutical, Merck, Dr. Reddy, Accord Pharmaceuticals |
This chapter will help you gain GLOBAL Market Analysis of Finasteride. Further deep in this chapter, you will be able to review Global Finasteride Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Finasteride Market Trends North America Finasteride Technological Road Map North America Finasteride Market Drivers North America Finasteride Market Restraints North America Finasteride Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Application Analysis 2019 -2031, will provide market size split by Application . This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Application Analysis 2019 -2031
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Chapter 11 Market Split by Type Analysis 2019 -2031
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Chapter 12 Market Split by Distribution Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Finasteride market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Benign Prostatic Hyperplasia (BPH) have a significant impact on Finasteride market? |
What are the key factors affecting the Benign Prostatic Hyperplasia (BPH) and Male pattern baldness of Finasteride Market? |
What is the CAGR/Growth Rate of Branded during the forecast period? |
By type, which segment accounted for largest share of the global Finasteride Market? |
Which region is expected to dominate the global Finasteride Market within the forecast period? |
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