Global Dutasteride Market Size, Share and Trends Analysis Report, By Type (Avodart and Generic Avodart), By Distribution Channel (Hospital and Drug Stores), Forecast (2022-2028)

The global dutasteride market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Dutasteride belongs to a group of drugs known as 5-alpha reductase inhibitors, used to prevent the development of a naturally occurring chemical that causes the prostate to expand. Dutasteride is also used to treat BPH symptoms to lower the risk of developing acute urine retention (sudden inability to urinate). Dutasteride may also reduce the likelihood of prostate surgery being required. The rise in the prevalence of benign prostatic hyperplasia, as well as the rise in urological illnesses linked with BPH, are driving the expansion of the dutasteride market. Elevated sympathetic nerve activity, an increased inflammatory response, and oxidative stress are all factors that lead to the development of BPH in obese patients. Prostate enlargement and BPH are both caused by hormonal changes in the body. As a result, the market for dutasteride is growing.

North America dominated the global dutasteride market, and it is expected to continue to do so during the forecast period. This is due to an increase in the prevalence of BPH, an unhealthy lifestyle that leads to obesity, the presence of major players, and an increase in healthcare spending in the region. However, due to an increase in the geriatric population, increased R&D activities, an increase in urological disorders, unmet medical demands, and increased investments in the healthcare sector in the region, Asia-Pacific is expected to see significant growth which in turn boosting the growth of the market. Furthermore, developments in healthcare infrastructure, an increase in the number of hospitals with superior medical facilities, a growing R&D sector, increased healthcare reforms, and technical advancements in the field of healthcare all contribute to market growth. Other factors driving the growth of the dutasteride market in Asia-Pacific include a surge in leading manufacturers’ focus on expanding their geographic presence in emerging Asia-Pacific countries to capture high growth opportunities in the market, a large population base, and high disposable incomes.

As BPH is a typical disease that arises in males during the aging process, the growth of the aging population, particularly the geriatric male segment, can be considered as a major driver of BPH incidence. As a result, as this population segment grows, demand for appropriate treatments will increase in major markets booting the dutasteride growth.

The market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies depending on the distribution channel. Because of the strong presence of hospital pharmacies around the globe, the increase in the number of hospitalized prostate cancer patients, and the convenience offered by hospital pharmacies, the hospital pharmacies segment currently accounts for the majority of the prostate cancer treatment market share which is resulting in the growth of dutasteride market growth. Due to increased knowledge of online pharmacies, an increase in the number of internet users, and a surge in preference for online medicine purchases over traditional means, online pharmacies will be the fastest expanding segment over the projected period.

Some major players in the market include Biopharma, Teva Pharmaceutical Industries Ltd., Mylan N.V., Zydus Pharmaceuticals, Inc., Apotex, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, Mylan N.V. and Pfizer collaborated with each other to launch a new firm called Viatris. Their aim is to provide improved access to inexpensive, high-quality medications for patients around the globe by combining the resources of these two firms.

Market Coverage

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Distribution Channel
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Biopharma, Teva Pharmaceutical Industries Ltd., Mylan N.V., Zydus Pharmaceuticals, Inc., Apotex, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Dutasteride Market Report by Segment

By Type

• Avodart
• Generic Avodart

By Distribution Channel

• Hospital Pharmacies
• Drug Stores

Global Dutasteride Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa