PUBLISHER: The Business Research Company | PRODUCT CODE: 1566707
PUBLISHER: The Business Research Company | PRODUCT CODE: 1566707
Hair restoration encompasses medical procedures and treatments designed to regrow hair or improve its density and appearance. These methods are commonly sought by individuals experiencing hair loss due to genetics, hormonal changes, aging, or medical conditions, aiming to restore confidence and enhance their overall appearance.
The main procedure types in hair restoration include follicular unit extraction (FUE) and follicular unit transplantation (FUT). Follicular unit extraction (FUE) is a technique where individual hair follicles are harvested from a donor area using a small punch-like tool and then transplanted into the recipient area. The therapy types include low-level laser therapy (LLLT), stem cell hair restoration, and platelet-rich plasma (PRP) treatments, catering to both male and female patients.
The hair restoration market research report is one of a series of new reports from the business research company that provides hair restoration market statistics, including hair restoration industry global market size, regional shares, competitors with an hair restoration market share, detailed hair restoration market segments, market trends and opportunities, and any further data you may need to thrive in the hair restoration industry. This hair restoration 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 restoration market size has grown rapidly in recent years. It will grow from $5.88 billion in 2023 to $6.58 billion in 2024 at a compound annual growth rate (CAGR) of 12%. The rise observed during the historic period can be linked to factors such as greater awareness, technological progress, an aging population, evolving lifestyles, regulatory approvals, shifts in cosmetic preferences, and medical tourism.
The hair restoration market size is expected to see rapid growth in the next few years. It will grow to $10.4 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The anticipated growth in the forecast period can be ascribed to personalized medicine, increasing disposable income, improvements in healthcare infrastructure, the integration of digital health, environmental factors, and evolving consumer expectations. Key trends expected during this period include technological integration, regenerative therapies, non-invasive treatments, telemedicine and digital platforms, tailored treatment plans, sustainable practices, and global collaboration.
The growing popularity of hair transplants is expected to drive the expansion of the hair restoration market. Hair transplants involve a surgical procedure in which hair follicles are transferred from a donor site to a balding or thinning area to stimulate hair growth. The advancement of surgical techniques and precision tools has improved success rates and aesthetic outcomes, contributing to the rising demand for hair transplants. Additionally, factors such as dust and pollution have led to increased hair loss, creating a demand for effective hair restoration solutions. Hair transplants are effective in relocating healthy hair follicles to areas with baldness or thinning, achieving natural-looking results. For example, a report by the International Society of Hair Restoration Surgery in April 2022 noted that in 2021, the number of global hair restoration patients, including both surgical and non-surgical treatments, reached 2.2 million, representing a 7% increase from the previous year. Thus, the increasing popularity of hair transplants is expected to fuel growth in the hair restoration market.
Key players in the hair restoration market are focusing on advanced regenerative medicine, such as scalp serums, to support scalp health, reactivate hair growth, and address hair loss. Scalp serums are specialized topical treatments designed to enhance scalp and hair follicle health. For instance, in March 2024, BioPhotas Inc., a company specializing in medical equipment, launched the Restore Hair Serum. This product, designed to complement the Celluma Light Therapy device, provides a comprehensive solution for combating hair loss. Packaged in a dropper bottle for easy application, the serum contains a blend of peptides, vitamins, and plant-based bionutrients. Key ingredients include recently, which nourishes hair follicle stem cells and stimulates growth, capital, a peptide that reduces DHT buildup in follicles to improve hair bonding and activity, and energy, a plant-based protein technology that strengthens and detoxifies hair roots.
In March 2023, Sun Pharmaceutical Industries Limited, an India-based specialty generic pharmaceutical company, acquired Concert Pharmaceuticals Inc. for an undisclosed amount. This acquisition allows Sun Pharma to utilize its global reach and commercial capabilities to advance deuruxolitinib through late-stage development and regulatory approval. The goal is to bring this promising treatment to market to address the unmet medical needs of alopecia areata patients worldwide. Concert Pharmaceuticals Inc. is a US-based clinical biopharmaceutical company specializing in hair regrowth medications.
Major companies operating in the hair restoration market are Pfizer Inc., Johnson And Johnson, Merck And Co. Inc., AbbVie Inc., Eli Lilly and Company, Shiseido Company Limited, NeoGraft Solutions, Bosley Inc., RiverTown Therapeutics Inc., Venus Concept Inc, Advanced Hair Studio, Samumed LLC, Aclaris Therapeutics Inc., Bernstein Medical, Capillus LLC, Eclipse Aesthetics, The Harley Street Hair Clinic, TissUse GmbH, Theradome Inc., Lexington International (HairMax), iRestore, Kintor Pharmaceuticals Ltd., Cassiopea S.p.A., Replicel Life Sciences Inc., Stemson Therapeutics, Theracell Advanced Biotechnology Ltd., New York Hair Restoration Centers, National Hair Centers, Follica Inc.
North America was the largest region in the hair restoration market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hair restoration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hair restoration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hair restoration market consists of revenues earned by entities providing services such as non-surgical hair loss treatments and prescription medications for hair growth such as minoxidil and finasteride, as well as consultations, evaluations, and postoperative care. The market value includes the value of related goods sold by the service provider or included within the service offering. The hair restoration market also includes sales of products such as hair growth shampoos, scalp treatments, laser devices for home use, nutritional supplements promoting hair health, hair fibers, and specialized combs and brushes for hair growth stimulation. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Hair Restoration 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 restoration 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 restoration ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hair restoration 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.