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Prescription Hair Loss and Hair Removal Drugs Market

The market for prescription hair loss and hair removal drugs is expanding day by day as changing lifestyle is leading to excessive hair problems. Hair loss drugs market targets men more than women, as the problem is more persistent in males. The majorly prescribed hair loss drugs are:

  • Finasteride: The Food and Drug Administration approved this drug for treating men with hair loss. The drug is reported to slow down hair loss in 88% of the men and stimulate hair re-growth in about 66% of the men.
  • Corticosteroids: If hair loss is due to inflammation then corticosteroid drugs are injected in the scalp. These drugs help in stopping inflammation and are majorly prescribed for patients suffering from alopecia areata.

Prescription Hair Loss and Hair Removal Drugs Market: Segmentation

On the other hand, the hair removal drugs market is majorly focused on females than the male population. All the drugs used for hair removal are either anti-androgens or androgen inhibitors. Androgen is the hormone responsible for excessive hair growth. This market is primarily divided into the following segments:

  • Oral contraceptive pills or birth control pills: For women whose hair growth is related to hormonal problems mostly due to aspolycystic ovary syndrome, treatment includes oral contraceptive pills as these pills reduce the level of androgen. The pills which are generally recommended contain ethinylestrodiol (oestrogen) and antiandrogenic progesterone. In addition, these contraceptives also include cyproterone acetate, drospirenone or dienogest.
  • Hair removal drugs: Prescription hair removal drug market consists of the following drugs:
  • Vaniqa: Vaniqua is the only prescription hair loss medication approved by the Food and Drug Administration that reduces growth of unwanted hair on face and body
  • Spironolactone: Spironolactone or aldactone is majorly used to treat excessive body hair in U.S. and is prescribed for patients suffering from hormonal condition hirsutism
  • Flutamide: Flutamide is an effective drug used for hampering growth of excess body and facial hair
  • Finasteride: Finasteride, also known as Propecia or Proscar, works by blocking the conversion of testosterone into dihydrotestosterone, the hormone responsible for stimulating growth in hair follicles on the body
  • Ketoconazole: This is a relatively new drug in the market and is used to control excessive hair growth on the body during hormonal imbalance

A new anti-androgen drug Fluridil has also been developed for treating hyperandrogenic skin syndromes such as hirutism. The clinical study is performed for three months to evaluate the efficacy and safety of 2% fluridil gel in female patients. The results of the study have shown that 2% fluridil gel is an effective and safe method to treat hirsutism.

Prescription Hair Loss and Hair Removal Drugs Market: Geographical Dynamics

The market of North America leads the global market for prescription hair loss and hair removal drugs market followed by the market of Europe due to changing lifestyle and increasing smoking and alcohol consumption leading to hormonal problems in females. According to the Washington Post, hair loss sufferers in America spend more than 3.5 billion dollars a year to treat their hair loss. The market of Asia-Pacific is also growing at a fast pace due to increasing divergence towards the western culture. China is a major revenue generating market for prescription hair loss and hair removal drugs. The major restraint the market is facing currently is the side effects caused by these drugs. Some of the drugs are reported to cause irritation and redness of skin, moods swings and changes in menstrual cycle in some patients.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Prescription Hair Loss Hair Removal Drugs Market

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