Market Research Future (MRFR) projects the hair transplant market to record 26.5% CAGR during the evaluation period (from 2022 to 2027), says MRFR (Market Research Future). The market size shall touch USD 42 Billion by 2027.
Major Drivers and Challenges
Androgenic alopecia is a serious condition that affects over 56% of the men and 28% of women worldwide, presenting cases of pattern baldness. Fast receding hairlines along with hair fall are generally the result of stress, pollution, poor eating habits, surging work pressure, excessive use of chemical shampoos, hormonal disorders, and heredity. These factors affect both women and men, with both the genders emerging as key end-users in the market. The most popular hair transplant techniques are follicular unit extraction (FUE) and follicular unit transplant (FUT). While the FUT technique has gained substantial traction among doctors, the FUE technique has been garnering sufficient momentum as well.
Social media’s strong influence, mounting focus on grooming, looks in line with the rising awareness levels raise the growth potential of the hair transplant market. The surging acceptance of cosmetic treatment among people, especially in developing regions will be a key influencer for the global market in the years ahead.
India has turned into a prime hub for cosmetic surgeries and treatments like Hair Transplant Market Insights hair transplant, as the medical tourism sector continues to thrive in the country. This is the result of the availability of low-cost and quality medical treatment and facilities along with the presence of skilled medical experts. Also, the expanding middle-income population in India and other South Asian countries in conjunction with the rise in urbanization can be a huge growth booster in the following years.
Bernstein Medical, GETFUE Hair Clinics Ltd., Cole Instruments Inc., Hair Club, Allergan Plc, Hairline International Hair and Skin Clinic, Bosley, Hair Restoration Black Rock HRBR, Hair Transplants of Florida, Venus Concept (NeoGraft), Hair Transplant Centre Turkey have been listed in the extensive study as the top hair transplant devices and services manufacturers in the worldwide market.
The key methods discussed about in the report are Follicular Unit Transplantation (FUT), along with Follicular Unit Extraction (FUE).
Different sub-markets considered are Hair Transplant Market Outlook Product, Hair Transplant Therapy, and Hair Transplant market Method.
The product-wise segments are Serum, Gel, Drugs (Minoxidil, Finasteride, and more).
North America rules the global market, while the US is the regional leader with the highest value of more than USD 2.6 billion. The soaring number of hair transplant surgeries, rise in medical procedures, such as follicular unit transplantation and follicular unit extraction instigate substantial market growth in the region. In addition, the flourishing medical sector with a large number of skilled surgeons foster the market worth as well.
In APAC, the Japanese market has crossed USD 684 million as of 2019, thanks to the escalating number of hair transplant treatments and the rising prevalence of smokers and alcoholics. The mounting number of public and private organizations in the region offering hair transplant services as baldness becomes a common issue, will further enhance the market size. The regional industry is experiencing a rise in the number of organised companies while single doctors are managing clinics. This has resulted in a highly fragmented market in the region, each with its own unique and robust presence.
The European market has taken the second lead, in view of the massive demand for cosmetic treatments due to high economic standards and the rising number of consumers focused on grooming and physical appearance. The huge advancements in medical technology also act in favor of the European market for hair transplant.
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