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The global Minoxidil Market Growth Accelerated by Surging Hair Loss Problems

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The global Minoxidil Market Growth Accelerated by Surging Hair Loss Problems

Minoxidil is used as a solution or topical lotion which helps regrow hair and slow down further hair loss. It works by directly stimulating hair follicles to enter the growing (anagen) phase and prevents conversion to the resting (telogen) phase to promote new hair growth. The growing penetration of hair loss treatment products and surging cases of hair loss problems in people due to changing lifestyle and dietary habits have accelerated the demand for minoxidil in the market.


The global Minoxidil Market is estimated to be valued at US$ 1095.5 Mn in 2023 and is expected to exhibit a CAGR of 10 % over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growing popularity of hair transplantation treatment has emerged as the key trend bolstering the demand for minoxidil in the market. Hair transplantation involves taking hair follicles from different parts of the scalp and placing them to the bald part of the scalp. Minoxidil is prescribed as the main hair regrowth medication after hair transplant surgery to witness better and faster results. It plays a vital role in retaining transplanted grafts and inducing new hair growth in the balding area post surgery. According to the International Society of Hair Restoration Surgery (ISHRS), over 600,000 hair transplant procedures are performed worldwide each year with more than 95,000 surgeries in the United States alone. This widespread adoption of hair transplants is expected to drive the demand for minoxidil significantly in the coming years.

Segment Analysis

The global minoxidil market is segmented based on formulation, type, distribution channel and geography. Based on formulation, the minoxidil market is categorized into topical solution, foam, gel, cream and others. Among this, topical solution segment held the largest market share in 2023. Topical solutions cause minimal skin irritation and are most commonly prescribed by dermatologists for treating hair loss problems.

Key Takeaways

The global minoxidil market is expected to witness high growth in the coming years. Global Minoxidil Market Demand is estimated to be valued at US$ 1095.5 Mn in 2023 and is expected to exhibit a CAGR of 10 % over the forecast period 2023-2030.

Regional analysis indicates that North America dominates the minoxidil market currently due to increasing prevalence of alopecia areata in the region. The US held around 40% of the global market share in 2023. Asia Pacific region is projected to grow at the fastest pace during the forecast period 2023-2030 owing to rising elderly population suffering from hair loss problems.

Key players operating in the minoxidil market include Johnson & Johnson Services, Inc., Dr. Reddy’s Laboratories Ltd., Bayer AG, Zydus Pharmaceuticals, Sanofi S.A., Cipla Inc., PharmaMedica, Kirin Holdings, Shandong East Pharmaceutical and Guangzhou Baiyunshan Pharmaceutical Co. Ltd. Johnson & Johnson Services, Inc. dominates the global minoxidil market with around 30% market share as of 2023. The company offers a wide range of minoxidil formulations like topical solutions, foams and gels under the brands Rogaine and KPAKS. 


Get More Insights on this Topic https://www.rapidwebwire.com/minoxidil-market-size-share-and-demand/ 

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