U.S. Minoxidil Market Size

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.

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.
 

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.