The Finasteride Market is expected to grow at > 2.9% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Finasteride Market
Finasteride Market is likely to witness a CAGR of 2.9% during the forecast period. The prime factor that is contributing to the demand for finasteride is the constantly rising cases of prostate cancer. Also, the consumer’s preference for hair treatment and increasing expenditure on hair care products to further drive the market.
North America is the major market for finasteride. The products are widely used in the US for the treatment of male baldness and prostate-related diseases. Also, the North American region has a strong presence of major finasteride manufacturers, including Merck & Co., Inc., Teva Pharmaceutical Industries Ltd, and Cipla Limited.
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Market Scope & Market Segmentation
Finasteride Market Share: By Product Type
Based on the product type, the market is segmented as 1mg and 5mg. The 1mg segment dominated the finasteride market in 2019. Increasing cases of male baldness due to genetics, illness, stress, and medicine side effects to foster the demand of these products. Also, the rising aging population in countries such as Germany, Italy, the UK, and France has created huge demand for hair loss treatment products.
Finasteride Market Share: By Application Type
Based on the application type, the finasteride market is segmented as prostate treatment and hair treatment. Prostate treatment application is likely to grow at a faster pace during the forecast period, owing to increasing cases of prostate-related diseases.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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