Published By : 24 Aug 2016 | Published By : QYRESEARCH
As aesthetical appearance emerges as a vital concern for men and women around the world, demand for prescription hair loss and hair removal drugs is expected to increase. Due to changing lifestyle, hormonal issues have been on a rise in both men and women worldwide. Hair loss is a common problem faced by millions across the globe, consequently spurring demand for effective treatment. Demand for prescription hair loss and hair removal drugs is thus expected to increase at a robust face in the forthcoming years.
Market to Gain from Increasing Investment in Clinical Studies of Novel Drugs
Finasteride and Corticosteroids are currently the most commonly prescribed drugs for hair loss. For hair loss drugs, pharmaceutical companies are mainly targeting on men consumers as hair loss is a consistent problem in men. In contrast, hair removal drugs manufacturers are looking to cater to the dynamic preferences of women consumers. While demand for these drugs is expected to rise at a significant pace, the launch of organic medicines poses threat to the market. Nevertheless, the market is expected to gain from the rising clinical studies to evaluate the efficacy of hair loss and hair removal drugs.
The primary products available in the hair loss and hair removal drugs market include vaniqa, oral birth control and contraceptive pills, hair removal drugs, ketoconazole, flutamide, spironolactone, and finasteride. Besides these, pharmaceutical companies are also focusing gaining from the launch of anti-androgen drug called Fluridil that has been developed to treat hyperandrogenic skin conditions such as hirutism.
Developed Regions Exhibit Rising Demand for Prescription Hair Loss and Hair Removal Drugs
Regionally, North America leads the global prescription hair loss and hair removal drugs market. Europe also exhibits lucrative opportunities for pharmaceutical companies focusing on the sales of hair loss and hair removal drugs. The changing lifestyle of consumers and increasing addition to smoking and alcohol have spurred hormonal issues among women living across these regions. This is a key factor fuelling demand for hair loss and hair removal drugs from North America and Europe.
Besides these developed regions, the market is also witnessing increasing opportunities in Asia Pacific. China for instance has emerged as a lucrative market for sales of prescription hair loss and hair removal drugs in Asia Pacific.