Market growth for minoxidil is anticipated to be fueled by ongoing clinical investigations and product development. Due to the region's focus on androgenetic alopecia research and development, North America is predicted to have a dominating position in the worldwide minoxidil market. The market's major competitors and research organisations are concentrating on the development and research of unique products, which is anticipated to accelerate market expansion. For instance, Tabriz University of Medical Sciences, Iran, said in November 2018 that it has completed a study comparing a topical herbal solution to minoxidil 5% in the treatment of male pattern hair loss. This medication is intended to evaluate the efficacy, tolerability, and safety of treating male androgenic alopecia. Beginning in November 2018 and ending in September 2019, Phase III. The market for minoxidil is expanding due to an increase in the prevalence of androgenetic alopecia. For instance, androgenic alopecia affects up to 70% of men and 40% of women at some point in their lifetime, according to a 2015 article in the American Society of Hair Loss Association.
Coherent Market Insights projects that during the projected period (2020-2027), the global Minoxidil Market is anticipated to grow at a CAGR of 4.8%, reaching an estimated value of US$ 951.8 million in 2020.
Major Players in the Minoxidil Industry:
1. Pfizer Inc.
The company was established in 1849, and Manhattan, New York City, is where its corporate headquarters are situated. Through the creation of pharmaceuticals and vaccines, Pfizer seeks to enhance the fields of immunology, cancer, the heart, endocrinology, and neurology. In October 2022, the business successfully acquired Biohaven Pharma's calcitonin gene-related peptide programmes. Pfizer purchased Amplyx Pharmaceuticals in April 2021, which included the rights to the antifungal drug fosmanogepix (APX001).
2. LGM Pharma
The company was started in 2005 and is based in Boca Raton, Florida, United States. A company that performs contract manufacturing and development is LGM Pharma, LLC. The business offers facilities for developing new drug products, producing active pharmaceutical components, and other services.
3. Perrigo Company plc
The firm was started in 1887 and is located in Dublin, Ireland. Over-the-counter (OTC) self-care and wellness products are something that Perrigo Company PLC deals in. Consumer Self-Care International, Prescription Pharmaceuticals, and Consumer Self-Care Americas make up the company's three operating segments. The deal for the oral care assets of High Ridge Brands to be purchased by the company for $113 million was announced by the company in February 2020.
4. Johnson and Johnson Services, Inc
The company was started in 1886 and has its main office in New Brunswick, New Jersey, U.S. The business creates medications, consumer packaged goods, and medical equipment. Johnson & Johnson declared in November 2022 that it will pay $16.6 billion to buy Abiomed Inc. On December 22, the deal became final. Johnson & Johnson paid $6.5 billion to acquire Momenta Pharmaceuticals in November 2020.
5. Sigma Aldrich (Merck KGaA)
The firm was started in 1975 and is based in Burlington, Massachusetts, United States. The life sciences and biotechnology division of Sigma-Aldrich Corporation is active. The business provides laboratory support, research, custom weighing, packaging, and chemical and biological goods in addition to these other services.
6. Actavis Pharma, Inc.
The company was founded in 1984 and is located in New Jersey, United States. A wide range of generic medications, including both solid dosage and sterile dosage products, are developed, produced, and marketed by Actavis Pharma Inc. In addition to selling INFeD, the Company is also creating a line of speciality branded medications.
7.Apotex Corporation
The business was founded in 1974 and is based in Toronto, Canada. Generic drugs are produced and distributed by Apotex to treat a variety of illnesses and disorders, such as cancer, high cholesterol levels, glaucoma, infections, and blood pressure. On April 3, 2023, it was disclosed that a group of investors advised by SK Capital Partners had completed the acquisition of Apotex Pharmaceutical Holdings Inc.
*Definition: Hair growth is encouraged by the topical antihypertensive medication minoxidil. The main ailment for which minoxidil is prescribed is androgenetic alopecia, while it is sometimes used off-label to address other hair loss issues.
