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U.S. Minoxidil Market Analysis

Report ID: GMI5017
Published Date: Mar 2021
Report Format: PDF

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U.S. Minoxidil Market Analysis

U.S. Minoxidil Market by 2% Formulation

The 2% formulation product type surpassed USD 100 million in 2020 which represents opportunity for product market growth. It is bifurcated based on formulation as 2% concentration and 5% concentration. 2% minoxidil formulation is used in hair regrowth solutions and made for women facing hair loss problems. Increased use of hair tools with high heat, hairstyle and treatments and stress has led to hair loss problems in women.

The 2% solution formulation is used to help hair growth in treatment of male pattern baldness which should boost product demand for male hair care product manufacture. Hair loss in men can be a result of heredity, medical conditions, hormonal changes and part of aging which has stimulated demand for hair products to boost hair growth. Rising consumer consciousness regarding hair loss along with increasing number of hair acre product to prevent hair fall should boost the U.S. minoxidil market sales.

U.S. Minoxidil Market by Retail Pharmacies

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U.S. minoxidil market by retail pharmacies may witness growth of about USD 460 million by 2027. Minoxidil topical solutions and oral medications are easily available in retail pharmacies as generic medicine. Retail pharmacies offer convenient services including home delivery of medicines and availability of all types of drugs and medicines. Moreover, consumer preference for easy availability of products due to busy lifestyles and hectic work schedule is anticipated to foster product market growth.

Owing to issues such as over-excursion and stress have led to hair loss problems and are expected to boost product demand from retail pharmacies. The increasing consumer focus on health and wellness is expected to boost demand for quality healthcare products which should boost retail pharmacies business. Growing retail pharmacies along with rising demand for hair growth products is likely to accelerate the U.S. minoxidil market value.

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

U.S. minoxidil market size had surpassed USD 600 million in 2020 and will register a CAGR of more than 4.35% through 2027.

Rising number of individuals with hair loss problems along with the growing demand for hair care products in the country is driving the product demand, enhancing the industry outlook.

2% minoxidil formulation segment had recorded a valuation of over USD 100 million in 2020 and will grow owing to increasing product demand due to the rising pervasiveness of hair loss problems in the country.

Retail pharmacies segment will register a valuation of around USD 460 million by 2027 owing to the easy availability of minoxidil topical solution and oral medications as generic medicines.