PUBLISHER: The Business Research Company | PRODUCT CODE: 1414263
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414263
“Hair Transplant Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hair transplant market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hair transplant? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The hair transplant market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Hair transplant is a surgical procedure wherein hair follicles are relocated from one area (typically the back or side of the head) to another (balding areas on the scalp) by a dermatological or plastic surgeon. This procedure enables the restoration of hair in regions experiencing baldness.
The main products associated with hair transplant include gel, serum, drugs, multivitamins, and others. Follicular Unit Transplantation (FUT) is a surgical technique wherein a strip of skin is cut from the back or side of the head, and individual hair follicles are extracted and then transplanted into the balding parts of the scalp by the surgeon. FUT is considered cost-effective, less time-consuming, and a suitable option when a significant number of hair follicles need to be grafted. Various hair transplant procedures include Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE), a combination of FUT and FUE, and additional supporting therapies such as platelet-rich plasma therapy (PRP), stem cell therapy, and laser therapy. Service providers for these procedures include hospitals, dermatology clinics, trichology clinics, and surgical centers.
The hair transplant market research report is one of a series of new reports from The Business Research Company that provides hair transplant market statistics, including hair transplant industry global market size, regional shares, competitors with an hair transplant market share, detailed hair transplant market segments, market trends and opportunities, and any further data you may need to thrive in the hair transplant industry. This hair transplant market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hair transplant market size has grown exponentially in recent years. It will grow from $7.24 billion in 2023 to $8.81 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth observed during the historical period can be attributed to several factors, including the increased prevalence of hair loss, the rise of medical tourism for hair restoration services, the impact of stress and lifestyle factors on hair health, improved patient outcomes in hair transplant procedures, cultural perceptions of beauty influencing the demand for hair restoration, and trends in men's grooming.
The hair transplant market size is expected to see rapid growth in the next few years. It will grow to $18.07 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The anticipated growth in the forecast period can be attributed to various factors, including the expanding aging population, increased acceptance of non-surgical options for hair restoration, the influence of social media on beauty standards, broader accessibility to healthcare services, and regulatory support and standardization in the industry. Major trends expected in the forecast period include technological advancements in the field, growing demand for non-invasive options, customization in hairline design to meet individual preferences, the use of advanced imaging and planning techniques, and the emergence of stem cell and regenerative therapies in the field of hair restoration.
The hair transplant market is poised for growth due to the increasing prevalence of hair loss among individuals. Hair loss, medically known as alopecia, is characterized by the gradual thinning or loss of hair caused by disruptions in the body's hair production cycle. To address this issue, individuals are turning to hair transplant procedures, a medical technique that offers a natural-looking hairline by matching the appearance and texture of the donor's hair with the existing hair. The demand for hair transplants is expected to rise, as indicated by projections from Scandinavian Biolabs, estimating that 12.94 million Americans will use hair growth products by 2024. Additionally, data from the International Society of Hair Restoration Surgery (ISHRS) in April 2022 revealed a 64% increase in the market size of hair transplantations from 2014 to 2021, reaching $6.5 billion. Notably, 87% of patients undergoing hair transplants are men, while 13% are women, highlighting the increasing significance of the hair transplant market.
The hair transplant market is also expected to benefit from the growing trend of medical tourism. Medical tourism involves individuals traveling to other countries for medical treatments, including hair restoration procedures. This practice allows individuals to undergo hair transplant treatments in foreign destinations. In 2021, according to Travelperk, approximately 34,000 foreign visitors traveled to the UK for medical treatment, underscoring the rise in medical tourism as a contributing factor to the growth of the hair transplant market.
Innovations in products and procedures are key trends shaping the hair transplant market. Major players in the industry are dedicated to developing new solutions to enhance their market positions. For instance, HHC (Hermest Hair Clinic), based in Turkey, introduced a unique FUE method of hair transplantation to increase affordability for patients worldwide. This approach, boasting a 99% survival rate, offers cost-effective deals and proficient services to a global clientele.
Companies operating in the hair transplant market are focusing on cutting-edge products, including robotic hair restoration systems, to drive market revenues. Robotic hair restoration systems leverage advanced technologies such as robotics, machine vision, artificial intelligence, and machine learning. Venus Concept Inc., a Canada-based medical aesthetics technology company, launched ARTAS iX in March 2023. This system precisely extracts healthy hair follicles from donor sites and transplants them to areas requiring additional hair growth while maintaining a natural appearance. The ARTAS iX system enhances the speed of graft implantation, enabling up to 1000 grafts to be placed in an hour and making the overall procedure up to 25% faster. However, challenges such as a high price and the need for medical monitoring during the operation are considerations.
In December 2021, Avra Inc., a US-based IT consulting and services company, merged with Springs Rejuvenation LLC, resulting in the formation of Springs Rejuvenation, Inc. This combined entity focuses on delivering high-quality care to patients and expanding access to cutting-edge medical treatments, including hair rejuvenation, non-surgical hair restoration, hair transplants, protein-rich plasma (PRP) injections, and anti-aging treatments.
Major companies operating in the hair transplant market report are Bosley Inc., Bernstein Medical Inc., GETFUE Hair Clinics Ltd., Hair Club, Hair Restoration BlackRockHRBR, Hairline International Hair and Skin Clinic, Limmer Hair Transplant Center, Venus Concept Ltd., Allergan Plc, Hairline Ink, Dr. Batra's Positive Health Clinic Pvt. Ltd., KYRA Aesthetic Clinic, Medical Hair Transplants & Aesthetics, SPRINGS Hair Restoration, Acibadem Healthcare Group, Tempus Hair Restoration, Chicago Hair Transplant Clinic, Derma magnetica, Cole Hair Transplant Group, Hair Transplants of Florida, Apira Sciences Inc., Sure Hair Transplants, Direct Hair Implantation International, New Jersey Hair Transplant, Nova Medical, Natural Transplants Washington, Great Hair Transplants Miami, Houston Hair Transplant Center, Beverly Hills Hair Restoration, Asmed Hair Transplant Center
The North America was the largest region in the hair transplant market in 2023. The regions covered in the hair transplant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hair transplant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The hair transplant market includes revenues earned by companies by providing hair restoration services, follicular isolation techniques, robotic hair transplantation, and automated FUE hair transplantation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.