The following factors have been identified till date that can lead to this condition:

1. Androgen excess: Elevated levels of androgens, such as testosterone, contribute to the development of hirsutism. These androgens can stimulate hair follicles in certain areas of the body to produce terminal hair.
2. Hyperandrogenism: Hirsutism is frequently accompanied by other signs of hyperandrogenism, such as acne, oily skin, and male-pattern baldness. 
3. Polycystic Ovary Syndrome (PCOS): PCOS is a common endocrine disorder characterized by hormonal imbalances, including increased androgen levels. Studies have shown that around 70-80% of women with hirsutism have PCOS.
4. Genetic factors: Hirsutism can have a genetic component. There are certain genetic variations that may predispose individuals to excessive hair growth. These genetic factors can influence the sensitivity of hair follicles to androgens and contribute to the development of hirsutism.
5. Insulin resistance: Insulin resistance, a condition in which the body's cells become less responsive to insulin, is commonly observed in women with hirsutism, particularly those with PCOS. Evidence supports the association between insulin resistance and hirsutism, suggesting a role for insulin in the development of excessive hair growth.
6. Other underlying conditions: In some cases, hirsutism may be associated with underlying medical conditions such as adrenal or ovarian tumors. 
Treatment options for hirsutism aim to address the underlying hormonal imbalances, reduce hair growth, and improve cosmetic appearance. These may include lifestyle modifications, medication to regulate hormone levels, and hair removal methods. It is important for individuals with hirsutism to seek medical evaluation and guidance from a Gynaecologist to determine the most appropriate management approach based on their specific needs and underlying causes.