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HEALTHCARE & PHARMACEUTICAL

Finasteride Market Segmentation by Product (Chemotherapy, Immunotherapy, Radiotherapy, Hormonal Therapy, and Others); and by Application (General Medical & Surgical Hospitals, Speciality Hospitals, Clinics, and Others) – Global Demand Analysis and Opportunity Outlook 2020-2029

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Extensive insights into the Growth of Finasteride Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Finasteride Market Highlights 2020-2029

The Finasteride market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2020-2029. Increasing number of scalp treatment procedures coupled with high occurrence of prostate cancer are some of the major factors driving the growth of global finasteride market. Extensive research associated with prostate cancer treatment in western countries, along with the growing investment in the development of advanced therapies are expected to fuel the progress of this market. According to the data collected from National Cancer Institute of the U.S. Department of Health and Human Services, in 2020, the estimated new cases and number of deaths from prostate cancer in the U.S. were 191,930 and 33,330, respectively.

Finasteride Market Graph

The market is segmented based on distribution channel into online, and others, out of which, the offline segment is anticipated to grab the largest share by the end of 2021 as, hospital pharmacies caters to  high number of patients suffering from benign prostate hyperplasia. However, online sales offered by such pharmacies are also witnessing significant growth rate in global finasteride market due to increasing internet penetration and e-commerce platforms. DOWNLOAD SAMPLE REPORT

On the basis of application, the prostate enlargement segment in the global finasteride is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the rising number of prostate cancer cases due to the growing geriatric population globally. Moreover, genetics and changing lifestyle patterns are expected to have a significant impact on global finasteride market growth in the coming decade.

Finasteride Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing prevalence of baldness among men due to increased level of pollution and extreme weather conditions is expected to create ample opportunities for finasteride market growth in the region in the region. Furthermore, in 2021, the market in North America and Europe are evaluated to occupy the largest share in terms of revenue, owing to the rising investment towards research and development activities in the region is expected to create a large number of opportunities for global finasteride market growth. The shift of lifestyle patterns towards unhealthy lifestyle is expected to increase patient suffering from benign prostate hyperplasia creating large customer based for global finasteride market. As per the analysis of European Commission, prostate cancer is ranked first among the most widely diagnosed cancer among men in the European Union and as per the American Cancer Society, in 2021, the estimated number of new cases of prostate cancer are 248,530 new cases of prostate cancer and deaths caused by prostate cancer are about 34,130 in the U.S.

Finasteride Market Share Image

The global finasteride market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global finasteride market includes the following segments:

By Product Type

  • 1 mg
  • 5 mg

By Application

  • Prostate treatment
  • Hair treatment
  • Others

Growth Drivers

  • Rising Prevalence of Prostate Cancer and Prostate Enlargement
  • Increasing Geriatric Population in the World

Challenges

  • Possible side effects associated with the finasteride tablets

Top Featured Companies Dominating the Market

  • Merck Sharp & Dohme Corp.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Teva Pharmaceutical Industries Ltd.
  • Cipla Ltd.
  • RelonChem
  • Dr. Reddy’s Laboratories Ltd.
  • Henan Topfond
  • Zhejiang CONBA Pharmaceutical
  • Shandong Renhetang Pharmaceutical
  • Guangdong Eashu Pharmaceutical
  • Sandoz

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