Why Has There Been So Little Progress on Hair Loss Treatments in 2 Decades?

I find it hard to believe that the only two FDA approved medications for balding were both approved over 20 years ago. How come there has been such little real progress since then? Is balding considered a “solved problem” due to the current status quo (surgery + finasteride/minoxidil)?

Why can’t we routinely exceed the sound barrier when we fly, since after all, the airplane was invented 110 years ago? If you answer this question, you might better understand that it does take time to find a cure for balding. Many groups from around the world are working hard on a cure or a better treatment, and I suspect that it will arrive when it is ready. The FDA process for such treatments may take years to obtain the approvals needed for human use.