The prescription hair loss and hair removal drugs market comprises drugs that help in preventing or reducing hair loss and unwanted hair growth. Products under this market include topical formulations like minoxidil and finasteride that are prescribed by physicians to treat androgenic alopecia or pattern baldness in men and women. These medications work by blocking the conversion of testosterone to dihydrotestosterone (DHT) in the hair follicles or stimulating hair follicles to initiate a new growth phase.

The global prescription hair loss and hair removal drugs market is estimated to be valued at US$ 4.8 billion in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the prescription hair loss and hair removal drugs market are Merck, Johnson & Johnson, GlaxoSmithKline, L'Oreal, and Procter & Gamble. Key players Minoxidil and finasteride have dominated the market for decades by effectively treating hair loss. However, increasing alopecia cases have opened opportunities for other pipeline drugs to enter the market.

The growing demand for non-invasive and effective Prescription Hair Loss and Hair Removal Drugs Market Demand With rising air pollution, sedentary lifestyles and mental health issues, alopecia diagnoses have increased globally. This has propelled the demand for prescription medicines that stop hair fall and stimulate new hair growth.

The awareness and focus on self-care have encouraged people to seek doctor consultations and medications for hair loss prevention in regions like North America, Europe, East Asia and urban areas in developing countries. The market players are also expanding to capitalize on this increased demand, especially in high potential emerging countries.

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