Finasteride is associated with fewer side effects like loss of libido but these are also very very rare side effects. These are very uncommon side effects. Secondly Dutasteride is a another similar drug which is a good option with very very rare side effects as compared to finasteride. Dutasteride is more effective as compared to finasteride.
Oral finasteride or dutasteride can be replaced with topicals preparation which are available in the form of lotion, and other combination. Topical lotions can skin systemic side effects of these drugs.
If hair loss is hormonal type then , male or female should take these drugs, lotions.
In females hormonal issues are related to Irregular Menstruation ,
thyroid , PCOD , in that case female should be screened for underlying suspected cause. Underlying hormonal problems should be treated with specific medications otherwise hair loss will happen.