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U.S. Minoxidil Market Size

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

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U.S. Minoxidil Market Size

U.S. minoxidil market size exceeded USD 600 Million, in 2020 and is estimated to grow at over 4.35% CAGR between 2021 and 2027. Growing number of individuals with hair loss problems along with increasing demand for hair care products should spur the product demand.

Minoxidil is an organic compound that has molecular formula C9H15N5O and weight 209.25g/mol. It is soluble in water and organic solvent such as methanol, acetone and propylene glycol. The product is an anti-alopecia and antihypertensive agent which is used in the treatment of hair loss in females and males and promotes hair growth. It is available in tablet, oral form, topical liquid and foam. Furthermore, the product is used to slow down of baldness process and stimulating hair growth.

U.S. Minoxidil Market Outlook

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Minoxidil works by prolonging the growth phase of hair follicles and is used to treat female baldness. Moreover, minoxidil can potentially increase hair density when applied to the scalp and increases hair growth rate. Rising usage and demand for hair products to increase strength and volume of hair should boost the U.S. minoxidil market share from hair care product manufacturers.

U.S. Minoxidil Market Report Attributes
Report Attribute	Details
Base Year:	2020
U.S. Minoxidil Market Size in 2020:	603.32 (USD) Million
Forecast Period:	2021 to 2027
Historical Data for:	2016 to 2027
No. of Pages:	94
Tables, Charts & Figures:	55
Segments covered:	Product type, Distribution Channel
Growth Drivers:	consumer spending on haircare products accompanied by expanding distribution channel Developing personal care market along with increase prevalence of alopecia areata
Pitfalls & Challenges:	Stringent regulations along with possible side effects of minoxidil

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Rising consumer inclination towards hair treatments for aesthetic hair looks has led to increased hair loss issue. Consumer demand for hair loss products to meet functional purposes is expected to grow the product market in forecasted time period. Manufacturers are focusing on developing variety of products for hair loss problems in aging population and male targeted products which are anticipated to boost U.S. minoxidil market growth.

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.