Prescription hair loss refers to the loss of hair from the scalp or other parts of the body that occurs due to aging, hormonal changes, medical conditions, stress or genetic predisposition. Global prescription hair loss and hair removal drugs market growth is driven primarily by rising geriatric population who are more prone to hair fall issues. Furthermore, easy availability of generic drugs coupled with growing consumer awareness about various treatment options for hair loss can also drive the market growth. However, side effects associated with prolonged usage of these drugs and availability of alternative treatments can pose challenges to industry players.
Market Dynamics:
Global prescription hair loss and hair removal drugs market growth is driven by factors like rising prevalence of alopecia areata, androgenic alopecia and other medical conditions causing hair loss. Growing geriatric population who are at an increased risk of suffering from hair thinning and balding can also drive the market growth. Rising R&D activities leading to new product launches catering to gender-specific hair loss issues plays a crucial role. However, factors such as availability of alternative hair loss treatments including hair transplant surgery, wigs and hair extensions can hamper the market growth. Moreover, side effects associated with long term use of hair loss drugs such as sexual side effects, depression and heart issues can hamper the market growth. Emerging markets in Asia Pacific and Latin America present lucrative opportunities for product penetration.
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