Finasteride Market Size

Finasteride Market size was over USD 109.5 million in 2023 and is anticipated to reach USD 154.82 million by 2036, growing at around 2.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of finasteride is estimated at USD 111.87 million.

The growth of the market can be attributed to the increasing occurrence of baldness and hair loss among men, and growing supply of contaminated domestic water. Along with these, the rising prevalence of prostate cancer across the world and rapid increase in the geriatric population are also expected to drive market growth in the coming years. According to the American Cancer Society, in the year 2021, about 248,530 new cases of prostate cancer is estimated in the United States. Moreover, around 6 in 10 of the diagnosed cases belong to men who are 65 years or older.  Furthermore, growing number of research and development activities in the pharmaceutical industry, and escalating consumer spending on hair treatment products especially in emerging economies are projected to offer ample growth opportunities to the market in the near future.