5-Alpha-Reductase Inhibitors (5-ARIs) Market is anticipated to exhibit a CAGR of 4.46% from 2023 to 2031

Newark, New Castle, USA, May 31, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global 5-alpha-reductase inhibitors (5-ARIs) market was conducted by Growth Plus Reports in 2022. The market is expected to hit a revenue CAGR of 4.46% by 2031.

Analysis of the global market for 5-alpha-reductase inhibitors (5-ARIs) indicates that during the forecast period, revenue share is likely to increase significantly. A family of medications known as 5-alpha-reductase inhibitors work to limit the action of 5-alpha-reductase, the enzyme that transforms testosterone into dihydrotestosterone.

The demand for 5-Alpha-Reductase inhibitors, such as finasteride, is driven by several factors. Firstly, these medications have shown effectiveness in reducing prostate size and alleviating symptoms of benign prostatic hyperplasia (BPH), a condition affecting an increasing aging population. By improving urinary difficulties, they contribute to a better quality of life for patients. Additionally, 5-Alpha-Reductase inhibitors provide a non-invasive treatment option, appealing to those who prefer to avoid surgical interventions.

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                            5-Alpha-Reductase Inhibitors (5-ARIs) Market Scope

Key Takeaways: 

• The increasing prevalence of benign prostatic hyperplasia is driving the market revenue share.
• The prevalence of benign prostatic hyperplasia according to age was found to be around 8% in the fourth decade of life, 50% in the sixth, and 80% in the ninth.
• Expanding treatment-seeking behavior and rising awareness help the market for 5-ARIs.

Competitive Landscape

A list of the companies operating in the global market for 5-alpha-reductase inhibitors (5-ARIs) includes: 

• Merck & Co. Inc. 
• GSK Plc.
• Woodward Pharma Services LLC
• Preferreed Pharmaceuticals Inc.
• Apotex Corporation
• Auro Pharma Inc.

Market Drivers and Restraints: 

The global 5-alpha-reductase inhibitors (5-ARIs) market revenue is driven by the prevalence of benign prostatic hyperplasia, the growing elderly population, advances in pharmaceutical research and development, and advancements in drug formulations improving patient experience. 

However, because of the presence of a large number of competitors and adverse effects of safety concerns, the 5-alpha-reductase inhibitors (5-ARIs) market revenue growth is expected to be restrained. 

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Market Segmentation: 

• Based on types, the global 5-alpha-reductase inhibitors market is segmented into finasteride and dutasteride. 
• Based on application, the global 5-alpha-reductase inhibitors market is segmented into benign prostatic hyperplasia (BPH), androgenetic alopecia (AGA), prostate cancer, and others. 

Segmentation By Application

Based on the application, the benign prostatic hyperplasia segment dominates the global 5-alpha-reductase inhibitors (5-ARIs) market with the largest revenue share. The significant share of revenue is attributed to the large prevalence of diseases and the management of their primary symptoms. Furthermore, the effectiveness of 5-ARIs in the treatment of BPH and the adherence to the guidelines provided to healthcare workers to use 5-ARIs as the first line of treatment is contributing to the segment’s revenue growth. 

Regional Growth Dynamics

Based on the region, North America, with the largest revenue share, dominates the global 5-alpha-reductase inhibitors (5-ARIs) market. This sizable share of revenue is attributed to the large prevalence of prostate cancer, the availability of healthcare facilities and specialist urology centers in North America, a strong network of hospitals, clinics, and healthcare providers, as well as a favorable reimbursement environment. 

Report Coverage 

Global market research on the 5-alpha-reductase inhibitors (5-ARIs) market was done in-depth by Growth Plus Reports. We looked at the core market traits, noteworthy investment prospects, regional growth trends, ten-year revenue projections, rival market participants, and mergers and acquisitions.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL 5-ALPHA-REDUCTASE INHIBITORS MARKET - ANALYSIS & FORECAST, BY TYPE
   1. Benign Prostatic Hyperplasia (BPH)
   2. Androgenetic Alopecia (AGA)
   3. Prostate Cancer
   4. Others
6. GLOBAL 5-ALPHA-REDUCTASE INHIBITORS MARKET - ANALYSIS & FORECAST, BY APPLICATION
   1. Finasteride
   2. Dutasteride 

5-ALPHA-REDUCTASE INHIBITORS MARKET TOC

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