According to the recent research report titled ‘Finasteride Market Size By Product, By Application  Industry Analysis Report, Country Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global finasteride market is expected to grow substantially through 2026.
 

The growth of global finasteride market is majorly driven by rising instances of prostate cancer and hair fall among population. Rising trend of relying on hair medication, surging expenditure on hair care products coupled with growing distribution channel are augmenting the market outlook.
 

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Notably, finasteride, a prescription medicine comes in the form of oral tablet and is used to diminish an enlarged prostate or benign prostate hyperplasia (BPH) in adult men. It offers benefits such as reduced urge to urinate, decreased nighttime urination, better flow of urine with reduced straining, and suppresses the feeling of bladder not been emptied completely. The medication is also utilized for treatment of hair loss in men.
 

As per product type, finasteride industry is divided into 5 mg and 1 mg. As per the report, 5 mg finasteride tablet is widely used for treatment of enlarged prostate. However, it is to be noted that the medicine should not be taken in case of allergy and children or women should not be prescribed this drug.
 

Based on application spectrum, global finasteride market is divided into excessive hair growth, prostate enlargement, scalp hair loss, prostate cancer, and hormone therapy. The prostate enlargement segment held 25% market share in the year 2019 and is slated to grow substantially over the study period.
 

The prostate cancer segment is expected to record 2% CAGR through 2026. The medication is said to reduce risk of low-grade prostate cancer in adult men. Meanwhile, hormone therapy (for transgender women) segment is expected to exceed USD 0.105 thousand by the year 2026, owing to rising product penetration and antiandrogenic effects of this medicine which aid in hormone replacement therapy.
 

Citing the regional terrain, Latin America market is expected to record CAGR of 1.5% through 2026. Parallelly, Middle East & Africa (MEA) finasteride industry is projected to witness a y-o-y growth rate of 1.5% over the analysis period.
 

Major players in global finasteride market are Guangdong Eashu Pharmaceutical Co. Ltd., Shandong Renhetang Pharmaceutical Co. Ltd., Zhejiang CONBA Pharmaceutical Co. Ltd., Henan Topfond Pharmaceutical Co. Ltd., Dr. Reddy Laboratories, RelonChem, Cipla, Teva Pharmaceutical Industries Ltd., Novartis AG, and Merck & Co. Inc.