Minoxidil is a medication mainly used to treat high blood pressure and hair loss. As a treatment for hair loss, it is used for pattern baldness in men and androgenetic alopecia or female-pattern hair loss in women. When applied topically, minoxidil helps new hair regrowth and reduces hair shedding which can help to regrow some hair lost due to hair loss. It works by prolonging the growing phase of hair growth and shortening the resting phase.
The Global minoxidil Market is estimated to be valued at US$ 1262.02 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Minoxidil Market Analysis are GE Healthcare, Koninklijke Philips N.V., Welch Allyn, Spacelabs Healthcare, A&D Company, Limited, SunTech Medical, Inc., OMRON Healthcare, Inc., American Diagnostic Corporation, Withings, Briggs Healthcare, Kaz, Inc., GF Health Products, Inc., Rossmax International Ltd. The increasing demand for minoxidil is creating significant opportunities for market players to expand their product portfolios. For instance, in 2022, Koninklijke Philips N.V. launched the SmartSleep Snoring Relief Band, which uses gentle vibrations to help reduce snoring.
Some of the major opportunities in the minoxidil market include increasing focus on development localized and personalized treatment solutions and growing demand for consumer-oriented diagnostic and monitoring devices. For instance, in 2022, American Regent, Inc. launched a generic version of minoxidil topical solution in the US. Globally, companies are also focusing on expanding their presence in emerging markets like Asia Pacific and Latin America to tap the high growth opportunities in these regions.
Market Drivers
Growing awareness regarding hair fall treatment options is a key factor driving the growth of the global minoxidil market. Easy availability of generic versions of minoxidil at lower costs as compared to branded products is also expected to support the market growth. Moreover, rising disposable income is increasing the affordability of minoxidil products among consumers.
Market Restrains
However, availability of alternative treatment options and medicines for hair fall like finasteride and natural remedies like green tea, rosemary oil, etc. are expected to restraint the growth of minoxidil market. Severe side effects such as rapid or irregular heartbeat, swelling of the hands or feet, and unusual weight gain or loss associated with long term use of minoxidil are also likely to hamper the market growth. Stringent regulatory guidelines for approval of hair loss drugs delay the entry of new products which may act as a challenge for this market.
Segment Analysis
This market is dominated by the topical solution sub-segment which accounts for over 60% share due to its non-invasive nature and effectiveness. It is easy to apply and provides concentrated dose of minoxidil directly on the bald area. The foam sub-segment is the next biggest segment and is growing at a fast pace given its greater convenience of application and better absorption. It does not leave any residue and allows for quick drying of the applied area.
Global Analysis
North America currently holds the largest share in the global minoxidil market due to high awareness levels and aggressive spending on hair treatments. The Asia Pacific region is witnessing the fastest growth led by countries like India and China where rising disposable incomes are boosting spends on appearance-centred hair treatments. Growing geriatric population prone to age-related hair loss also contributes to sales growth. European market is mature but still growing steadily with Germany, UK, France being major revenue generators.
Get more insights on Minoxidil Market
Radiant Insights, Inc. data shows that United States is the biggest contributor to the Minoxidil revenue market, accounted for 36.58% of the total global market with a revenue of 314.31 million USD in 2017, followed by Europe, 22.05% with a revenue of 189.46 million USD.
J is the largest company in the global Minoxidil market, accounted for 26.55% of the revenue market share in 2017, followed by Taisho Pharma and Costco Wholesale, accounted for 17.96% and 9.97% of the revenue market share in 2017.
Download Free Sample Report @ https://www.radiantinsights.com/research/global-minoxidil-market-research-report-2020/request-sample Geographically, global Minoxidil market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including• J• Taisho Pharma• Costco Wholesale• Wal-Mart• P• Zhejiang Wansheng Pharma• Sichuan Medco Huakang Pharma• Zhendong Anter• DrFormulas• Renata• Dr.R.PFLEGER On the basis of product, we research the production, revenue, price, market share and growth rate, primarily split into• 2% Minoxidil• 5% Minoxidil For the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Minoxidil for each application, including• Males• Females Production, consumption, revenue, market share and growth rate are the key targets for Minoxidil from 2014 to 2026 (forecast) in these regions• China• USA• Europe• Japan• Korea• India• Southeast Asia• South America Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-minoxidil-market-research-report-2020 Table of Contents 1 Report Overview1.1 Definition1.2 Manufacturers and Regions Overview1.2.1 Manufacturers Overview1.2.2 Regions Overview1.3 Type Overview1.4 Application Overview1.5 Industrial Chain1.5.1 Minoxidil Overall Industrial Chain1.5.2 Upstream1.5.3 Downstream1.5.4 Economic/Political Environment 2 Global Minoxidil Market Assesment by Types2.1 Overall Market Performance2.1.1 Product Type Market Performance (Volume)2.1.2 Product Type Market Performance (Value)2.2 China Minoxidil Market Performance2.3 USA Minoxidil Market Performance2.4 Europe Minoxidil Market Performance2.5 Japan Minoxidil Market Performance2.6 Korea Minoxidil Market Performance2.7 India Minoxidil Market Performance2.8 Southeast Asia Minoxidil Market Performance2.9 South America Minoxidil Market Performance 3 Global Minoxidil Market Assesment by Application3.1 Overall Market Performance (Volume)3.2 China Minoxidil Market Performance (Volume)3.3 USA Minoxidil Market Performance (Volume)3.4 Europe Minoxidil Market Performance (Volume)3.5 Japan Minoxidil Market Performance (Volume)3.6 Korea Minoxidil Market Performance (Volume)3.7 India Minoxidil Market Performance (Volume)3.8 Southeast Asia Minoxidil Market Performance (Volume)3.9 South America Minoxidil Market Performance (Volume) Continued… Read all Reports of this category @ https://www.radiantinsights.com/catalog/pharmaceuticals-and-healthcare About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
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