Interesting new insight on how Minoxidil might actually work (2023 study)

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A 2023 paper suggests that Minoxidil could do more than just improve blood flow — it might also affect local hormone balance in hair follicles.

Researchers found decreased dihydrotestosterone (DHT) and increased estradiol (estrogen) levels at the follicular level in patients with AGA after Minoxidil use.

“Estrogen levels increased in the minoxidil group relative to controls after use, though modestly. Because minoxidil can boost estrogen while decreasing DHT, it may enhance hair growth by adjusting the ratio of local estrogen to DHT concentrations.”

So, for those who say “Minoxidil doesn’t work without Finasteride” — this study might challenge that view. Importantly, no systemic DHT changes have been observed in any study, which could explain why Minoxidil doesn’t cause hormonal side effects.

Source: Shen, Y., Zhu, Y., Zhang, L., Sun, J., Xie, B., Zhang, H., & Song, X. (2023). New Target for Minoxidil in the Treatment of Androgenetic Alopecia. Drug Design, Development and Therapy, 17, 2537–2547. https://doi.org/10.2147/DDDT.S427612

Posted Oct 11, 2025, 7:33 PM UTC

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