Increasing Hair-Related Issues Due to an Altered Lifestyle and Growing Awareness About Personal Grooming Are Fueling the Growth of the Prescription Hair Loss & Hair Removal Drugs Market During the Forecast Period 2022-2027

The Prescription Hair Loss and Hair Removal Drugs Market size is estimated to reach $44.1 billion by 2027, growing at a CAGR of 6.9% during the forecast period 2022-2027. The growth of the prescription hair loss & hair removal drugs market is greatly fueled by the altered lifestyle resulting in excessive hair-related issues and growing awareness regarding personal grooming. Hair loss drugs are directed more toward men than women due to the issue being more common in men. Finasteride is the earliest prescription hair loss medicine approved by the FDA (U.S. Food and Drug Administration). It is proven to help in hair regrowth. Certain corticosteroids like prednisone can perform as a treatment for hair loss in certain cases. Hair loss is discovered among people who consume Cyclosporine, specifically, females aged between 50 and 59 years and who have been consuming the medication for <1 month. The hair removal drugs market is principally targeted toward women with the medications being anti-androgens or androgen inhibitors. 

Prescription Hair Loss & Hair Removal Drugs Market Growth Drivers:

Surging Applications of Finasteride:

Hair loss is more common among people who consume Cyclosporine. Cyclosporine is a prescription medication. Finasteride is utilized to treat hair loss in men. It is utilized to boost hair growth and avert further hair loss with male pattern baldness. Typical brand names of finasteride include Finast, Finax and Finpecia. The price for generic finasteride is considerably curtailed between $20 and $40 a month. Finasteride is typically more efficient when it is utilized with minoxidil, a topical medicine that encourages hair development. The surging applications of Finasteride are therefore driving the growth of the Prescription Hair Loss & Hair Removal Drugs Industry, thereby contributing to the Prescription Hair Loss & Hair Removal Drugs Industry Outlook.

Soaring Applications of Corticosteroids and Hair Removal Medications:

Particular conditions like alopecia areata (hair loss brought about by autoimmune disease) can be handled with corticosteroids under the medical supervision of a healthcare professional. Hair loss owing to some inflammatory conditions may be addressed through the application of corticosteroids. The best-recognized medication for treating excessive body hair in the U.S. is Spironolactone, also termed Aldactone. The medication is routinely prescribed to patients enduring a condition termed hirsutism. An initial daily dosage of 100mg of spironolactone administered in either single or divided doses is suggested. However, it may range from 25 to 200mg every day during the treatment of edema in adults. The soaring applications of hair removal medications are therefore propelling the growth of the Prescription Hair Loss & Hair Removal Drugs Market.

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R&D Investment:

In August 2022, Merck planned to sign up for Alzheimer’s drug R&D after the 2017 failure. This involved signing a research pact with Cerevance.

Prescription Hair Loss & Hair Removal Drugs Market: Competitive Landscape

Key companies holding major shares in the Prescription Hair Loss & Hair Removal Drugs Market are Merck, Roche, Sandoz, Teva, AdvaCare Pharma, Accord Healthcare, Alkem Labs Ltd, Aurobindo Pharma Ltd, Cipla and Dr. Reddy's Labs Inc.