Choices in hair loss therapeutic shelves have become diverse and mushroomed with domestic players eagerly joining multinational names in the ever-growing market.
The local hair loss therapeutic market is still dominated by global brands. No. 1 player Propecia launched by MSD in 2000, a prescription treatment for men experiencing male pattern hair loss, generates more than 30 billion won ($25 million) in annual prescription sales. It is followed by GSK’s Avodart. These two therapies have been proven effective in the inhibition of hair loss progression after continuous treatment for more than three months.
As the average age of starting hair loss has gradually declined, hair loss now becomes a concern for all ages, and demand to manage hair health in advance to prevent hair loss has increased, sales of generic drugs designed to complement treatment are also on the rise.
Korean pharma firms are racing to attract this demand with various formulation therapies with a focus on convenience.
Hyundai Pharm’s Minoxyl Solution is a product that can be applied to the scalp without touching it with a tipped end of a tube-shaped case.
The U Pharmaceuticals launched a gel-type solution named Mymonic Solution to prevent it from running down.
JW Pharm’s new product Rogaine Foam Aerosol is the first foam-type external preparation for hair loss treatment in Korea, and its rapid action in scalp absorption and drying is appealing more users. It has a sponge on one side and a spray on the other so that patients can use it as they wish.
There is a new approach to manage hair loss by using artificial intelligence. AI-based drug developer Pharos iBT is working together with local hair loss drug developer STEMORE to develop a new hair loss therapy using AI.
By Seo Jin-woo and Minu Kim
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