Finasteride Market Size - By Therapeutic Application, By Dosage Strength, By Distribution Channel, By Application, Growth Forecast, 2026 - 2035

Finasteride Market Size

The global finasteride market size was valued at USD 130.8 million in 2025. The market is expected to grow from USD 133.9 million in 2026 to USD 165.8 million in 2035, at a CAGR of 2.4% according to latest report published by Global Market Insights Inc.

• Finasteride is facing competition from other drugs within the class and lower prices from newly launched generics, Finasteride's sales have continued on an upward trajectory. Such increases have been driven primarily by Finasteride's newly approved indications, increasing acceptance and use within the medical community, and subsequent increases in prescribing. As recent research and analysis have determined, it can be predicted that existing positive sales trends across all BPH and androgenetic alopecia treatment will be sustained across the next several forecast years despite patent expirations.
   
• Overall, the US, Canadian and Western European markets have reached sales and prescribing saturation and have been characterized by continued competition but little if any growth across the past several years. In contrast, the markets across Eastern Asia and more recently, India have continued seeing demand growth. This is largely attributable to rising income levels, increased spending on personal appearance, expanding awareness of BPH and androgenetic alopecia, and increased accessibility to specialist medical care.
   
• This sustained and increasing demand, however, does not seem likely to change in the near future. In fact, Finasteride's sustained sales trajectory suggests that there will be little to no impact on sales across the forecasted period. Finasteride's sales figures will therefore be determined predominantly by the previously mentioned research indices, excluding anticipated changes in pricing and sales within the anticipated periods.
   
• There are a number of different types of companies that compete in the same space, giving the market a sense of being fragmented and competitive, however, in contrast to the likes of Merck and other global players, the manufacturers in India, Israel, North America, and Europe, all of which supply finished doses as well as APIs, are of a lesser scale and are thus not as dominate as Merck.
   
• Between 2021 and 2024, the incremental improvements gained are attributable to the diversification of the products in the portfolio, the improvements in distribution efficiency, and the different distribution channels which include retail, hospitals, and e-commerce.
   

Finasteride Market Trends

• The focus on potential adverse effects with respect to the prescribing patterns of the finasteride and the safety communications from regulatory bodies, e.g., the FDA and EMA, has contributed to the refinements on the prescribing patterns of finasteride. Rather than cause a collapse in the demand for the drug, attention to adverse effects has led to improved and more focused informed consent, and demand from the younger patient group has led to more conservative prescribing. There is closer monitoring in this patient group with alopecia, however, the prescribing rates in the more elderly male population with BPH appear stable within the Primary Care and Urology fields.
   
• Between 2021 and 2024, price competition remained intense in North America and Europe, as prescribers were systematically steered toward lower?priced options. Consequently, pricing in these regions is now predominantly driven by generics.
   
• Global volume is primarily supplied to Generic Dominance, to major manufacturers from India and the Generic Dominance Market within Teva, Sandoz and Viatris. Finasteride has now become available more widely due to telemedicine platforms and Direct to Consumer (DTC) brands focused on hair loss. The United States, the United Kingdom and in some parts of Europe are the most impacted.
   
• Treatment is now more streamlined and less noticeable due to online questionnaires and remote prescribing (subscription delivery models). Incremental volumetric demand that is self-pay and from young adult males has risen within the context of ongoing debate surrounding potential adverse effects of the drug and media reports that are more negative in nature.
   
• In several Asian, Latin American, and Middle Eastern locations, due to growing incomes and urbanization, access to and the volume of urology and dermatology care is gradually growing. This is the case, for instance, in both India and China, where there is a growing awareness of the health issues resulting in improved diagnoses and a consequent increase in prescriptions for both BPH and androgenetic alopecia. Local producers of generics exploit their cost advantages to gain access to secondary urban centers and semi-urban areas.
   

Finasteride Market Analysis

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Based on therapeutic application, the finasteride market is segmented into androgenetic alopecia (male pattern hair loss), benign prostatic hyperplasia (BPH), female pattern hair loss (selected cases), hirsutism and other androgen-mediated conditions, and others. Androgenetic alopecia dominated the market with an approximate market share of 42.6% in 2025 and is expected to grow with a CAGR of 2% till 2035.
 

• The use of finasteride in different fields is primarily used to treat benign prostatic hyperplasia and androgenetic alopecia. Benign prostatic hyperplasia (BPH) is a common condition among older men, so sufficient patients are urology and primary care are more stable to manage. Male pattern hair loss affects younger patients who are more willing to pay out of pocket, and are more frequently being treated by dermatologists, online tele-dermatology, and direct-to-consumer hair loss programs mainly in North America, Europe, and Asia.
   
• Finasteride is also used off-label with caution to treat women with pattern hair loss, hirsutism, and other androgen-mediated illnesses. These conditions present added volume to the market; however, the market volume is unlikely to change significantly. Overall, therapeutic diversification modestly broadens demand, while BPH and male alopecia continue to define the core commercial opportunity.
   

Based on dosage strength, the finasteride market is segmented into oral 1 mg, oral 5 mg, topical ≤ 0.1%, topical > 0.1% to 0.25%, topical > 0.25% to 0.5% and above. Oral 1 mg held the largest market share of 64.3% in 2025 and is expected to grow at a CAGR of 3% during 2026 to 2035.
 

• Regarding the various formulations and strengths, the market has the greatest volume of prescriptions of oral finasteride 1 mg for alopecia and 5 mg for BPH. These formulations are well established and are part of most clinical treatment guidelines. These are also the main oral finasteride formulations driving the volume in the market, while also being heavily benefit insured.
   
• Topical concentrations (≤0.1%, 0.1-0.25%, and 0.25-0.5%+) are expanding primarily within the hair-loss segment due to topical formulations being viewed as lower-systemic-exposure options. Although small and out-of-pocket, these are growing markets often targeted by dermatology chains and tele-dermatology brands. Innovations strengthening these dermatology-oriented topical therapies include new vehicles and formulations designed to enhance scalp permeability as well as new combination products that, while priced at a premium, offer lower market potential than equivalent oral therapies.
   

Based on distribution channel, the finasteride market is segmented into retail and community channels, institutional channels, direct-to-consumer (DTC) models, others. Retail and community channels segment dominated the market with an approximate market share of 61% in 2025 and is expected to grow with the CAGR of 3.4% up to 2035.
 

• Prescription finasteride has, and still is, being dominantly dispensed through traditional retail and community channels. Community pharmacies and chain drug stores fill the majority of prescriptions for both BPH and alopecia. Hospital pharmacies service inpatient and specialist-initiated therapy support, particularly in urology. Specialized dermatology and trichology clinics are in urban centers where they often act as the principal prescribers and key influencers.
   
• Legally licensed online pharmacies and direct-to-consumer models offer the most rapidly evolving channels for tele-dermatology in North America and Europe. They facilitate bundled remote consultations, prescription issuance, and home delivery which is especially advantageous for younger, privacy-sensitive alopecia patients and very beneficial for market differentiation. Although informal and semi-regulated models are available in emerging markets, tighter regulatory environments are increasingly directing volumes to licensed retail and institutional channels.
   

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Based on application, the finasteride market is segmented into prostate treatment, and hair treatment. Prostate treatment segment dominated the market with an approximate market share of 80.2% in 2025 and is expected to grow with the CAGR of 2.3% through 2035.
 

• Finasteride's principal applications as per its marketing remain as prostate medications for benign prostatic hyperplasia and as hair medications for male pattern scalp hair loss. Urology guidelines still recommend the use of 5 mg Finasteride for the alleviation of symptoms and for a delay in the progression of BPH. 1 mg Finasteride for androgenetic alopecia is firmly rooted within the domains of dermatology and trichology and is becoming more and more endorsed by online platforms and by the global community of clinics that focus on aesthetics.
   
• The applications with the least development and the least demand are its add-on roles for selected protocols for prostate cancer, for hormone therapy for some transfeminine patients, and for the control of hirsutism in certain androgen-sensitive conditions. Given the complexities of dosing, safety, fertility, and teratogenicity, these applications are tightly physician managed, off-label, and clinically supervised. These applications provide higher demand, though in small quantities, but do not significantly reduce the markets dependence on the therapy for BPH and the therapy for scalp hair loss.
   

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North America finasteride market value increases from USD 34.1 million in 2025 to USD 43.5 million in 2035, mainly driven by stable BPH prescriptions and broad generic availability. The region benefits from high diagnostic rates, strong urology and dermatology networks, and growing tele?dermatology for hair loss, although reimbursement and generic competition constrain price growth.
 

• U.S. is the dominant finasteride market in North America. Its market expands from USD 28.6 million in 2025 to USD 36.3 million in 2035, supported by guideline?driven BPH management, strong DTC hair?loss platforms, and extensive generic penetration across retail and mail?order channels.
   

Europe maintains a sizeable, gradually growing finasteride market, rising from USD 29.9 million in 2025 to USD 37.1 million in 2035, supported by aging populations and established reimbursement. Tighter pharmacovigilance and more cautious alopecia use temper growth, but stable BPH treatment protocols and increasing telemedicine in Western Europe sustain underlying demand.
 

• Germany is a key finasteride market within Europe. Its market moves from USD 5.3 million in 2025 to USD 6.5 million in 2035, driven by strong social insurance coverage, guideline?based urology practice, and a competitive generic environment that keeps volumes stable despite pricing pressure.
   

Asia Pacific is the largest finasteride region, growing from USD 55.1 million in 2025 to USD 70.7 million in 2035 at about 2.5% CAGR. China and India underpin this expansion through rising incomes, increasing diagnosis of BPH and androgenetic alopecia, and extensive generic distribution via retail, hospital, and online channels.
 

• China is the largest finasteride market in Asia Pacific. Its market increases from USD 24.8 million in 2025 to USD 31.6 million in 2035, supported by rapid urbanization, expanding health?insurance coverage, strong local generic manufacturers, and growing consumer willingness to treat hair loss and urinary symptoms.
   

Latin America remains a smaller but gradually expanding finasteride market, rising from USD 6.4 million in 2025 to USD 7.6 million in 2035. Growth is led by Brazil and major urban centers, where better access to urologists and dermatologists and wider availability of low?cost generics enhance treatment of BPH and male pattern hair loss.
 

• Brazil is the leading finasteride market in Latin America. Its value grows from USD 2.0 million in 2025 to USD 2.3 million in 2035, primarily through private clinics and pharmacies in larger cities, with generics improving affordability while public?sector budget limits cap broader penetration.
   

Middle East and Africa is the smallest but relatively fastest?growing region, increasing from USD 5.3 million in 2025 to USD 6.8 million in 2035 at about 2.7% CAGR. Rising private healthcare capacity, particularly in Gulf states, growing awareness of men’s health, and imported generics drive incremental demand from a low base.
 

• Saudi Arabia is a prominent finasteride market in MEA. Its market rises from USD 1.7 million in 2025 to USD 2.2 million in 2035, supported by high private spending, strong specialist networks, and increasing aesthetic and wellness awareness among urban male consumers.   
   

Finasteride Market Share

The companies in global finasteride industry are moderately consolidated, as Merck & Co., Inc. (MSD), Teva, Sandoz, Mylan (Viatris), and Sun Pharma are the primary players and represent slightly more than 50% of the total worldwide revenues. Merck as the originator and active branded legacy along with the broad generic offerings and considerable channel accessibility of the big generic players is complemented by fragmented regional pricing disorder and severe rivalry, leaving the other portions of the market spread among various Indian, Israeli, North American, and European manufacturers.
 

• Merck & Co., Inc. (MSD): Merck comprise a strong branded legacy in finasteride related to BPH and alopecia, with about 16% global share. This drive is due to Merck’s medical branding and influencing market safety-proven products, which makes Merck's efficacy on financial sustain revenues.
   
• Teva Pharmaceutical Industries Ltd.: Teva is estimated to hold approximately 11% of the total finasteride market due to Teva's active global generic operations. Consistent volume is due to the extensive registration base and strong ties with wholesalers and payers in both North America and Europe. Of Teva's strengths, vertical integration in APIs and a diversified urology portfolio are the most important in sustaining it ‘a competitive advantage.
   
• Sandoz (Novartis Division): Sandoz possesses 9% market share getting support from a strong presence in select international markets as well as Europe. Sandoz has built a reputation for providing quality generics and has established a presence in hospital and retail channels that provide reliable recipes for finasteride. Sandoz’s ongoing restructuring and a renewed strategy to focus on core generics and biosimilars will most likely optimize in this category to improve their pricing and supply.
   
• Mylan (Viatris): Mylan now part of Viatris has a market share of 8%. Mylan has a vast range of generics and has a broader geographic coverage. Mylan’s strong distribution networks in Europe and U.S. along with their strong primary care and urology present volume to finasteride. It looks as though Viatris will be continuing to optimize their portfolio and work to improve their cost efficiencies to provide a competitive edge in this market that is facing cost containment.
   
• Sun Pharmaceutical Industries Ltd:  Sun holds about 7% of the global market share on finasteride. Sun has a strong presence in India and U.S. as well as some other quickly developing markets. Sun’s combination of generic products along with competitively priced products and its growing urology and dermatology franchises are driving that growth. There has been a focus on dermatology for specialty use as well as aesthetics that will directly drive demand for finasteride in hair-loss treatments.
   

Finasteride Market Companies

Major players operating in the finasteride industry include:

• Merck & Co., Inc. (MSD)
• Teva Pharmaceutical Industries Ltd.
• Sandoz (Novartis division)
• Mylan (Viatris Inc.)
• Sun Pharmaceutical Industries Ltd.
• Dr. Reddy’s Laboratories Ltd.
• Cipla Ltd.
• Aurobindo Pharma Ltd.
• Lupin Ltd.
• Torrent Pharmaceuticals Ltd.
• Hikma Pharmaceuticals plc
• Apotex Inc.
   

Finasteride Industry News

• In March 2024, Viatris announced continued portfolio optimization in mature generics, including urology products such as finasteride, focusing on cost efficiency, manufacturing synergies and channel rationalization in North America and Europe to defend margins amid sustained price pressure.
   
• In October 2023, Sun Pharmaceutical Industries expanded its dermatology and aesthetics footprint in key markets, indirectly supporting demand for hair?loss therapies including finasteride, as it strengthened relationships with dermatologists and trichology clinics and broadened branded?generic offerings in India and selected international geographies.
   
• In June 2023, Teva Pharmaceutical Industries highlighted its strategic emphasis on core generics and key therapeutic areas, including urology, in its investor communications, underscoring finasteride as part of a stable cash?generating portfolio supporting deleveraging and long?term operational streamlining.
   
• In September 2022, Merck & Co., Inc. (MSD) reiterated the importance of long?standing urology brands, including its legacy finasteride franchise, in sustaining its mature?products base, while continuing to monitor safety communications and real?world evidence related to sexual and psychiatric adverse events.
   

This finasteride market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Million) and volume (Kilo Tons) from 2022 to 2035, for the following segments:

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Market, By Therapeutic application

• Androgenetic alopecia (male pattern hair loss)
• Benign prostatic hyperplasia (BPH)
• Female pattern hair loss (selected cases)
• Hirsutism and other androgen-mediated conditions
• Others

Market, By Dosage Strength

• Oral 1 mg
• Oral 5 mg
• Topical ≤ 0.1%
• Topical > 0.1% to 0.25%
• Topical > 0.25% to 0.5% and above

Market, By Distribution channel

• Retail and community channels
  • Community pharmacies
  • Chain drugstores
  • Online pharmacies (legally licensed)
• Institutional channels
  • Hospital pharmacies
  • Specialty clinics (urology, dermatology, trichology)
  • Direct-to-consumer (DTC) models
• Others

Market, By Application

• Prostate Treatment
  • Prostate Enlargement
  • Prostate Cancer
  • Hormone therapy (Transgender Women)
• Hair Treatment
  • Scalp Hair Loss
  • Excessive Hair Growth

The above information is provided for the following regions and countries:

• North America  
  • U.S.
  • Canada
• Europe  
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific  
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America  
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa  
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa