Hair Transplant Market to grow with CAGR of 23.84% from 2022 to 2028
According to Renub Research’s latest report, “Hair Transplant Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” Global Hair Transplant Market is estimated to grow at and reach US$ 53.17 Billion by 2028. A common procedure for treating male or female pattern baldness, hair transplantation involves moving hair from regions with hair to areas of the scalp that have experienced hair loss. The typical donor sites are the back or sides of the head, while the receiving sites are the front or top. Hair transplantation is also employed to restore hair in areas of the scalp that have suffered from scarring, injury, or burns, as well as to treat alopecia areata. In addition, it can be used for cosmetic purposes, such as enhancing the appearance of thinning hair or achieving a more youthful hairline. Gender confirmation surgery also employs hair transplants to establish a more masculine or feminine hairline.
The hair transplant market is experiencing growth due to several factors. One of these is the increasing acceptance of hair transplants as a solution for hair loss, along with a rise in the prevalence of dermatological disorders that lead to hair loss. A recent study conducted by the National Centre for Biotechnology Information (NCBI) in April 2022 highlighted the prevalence of alopecia areata, affecting people of all races and sexual orientations at a rate of 0.2% this year. Similarly, androgenetic alopecia, which affects 15% of women and 50% of men, is particularly common among postmenopausal women. The market is also driven by the demand for cosmetic procedures, with hair transplants being a popular choice for enhancing one’s appearance.
Technological advancements in the field have made hair transplant procedures safer, more effective, and affordable, as seen with the introduction of cost-effective and unique follicular unit extraction (FUE) methods by HHC (Hermest Hair Clinic) in Turkey in April 2022. Moreover, the growing awareness and acceptance of hair transplants for hair loss in both men and women have also contributed to the market’s growth. The increasing number of cancer treatments and cases worldwide will further drive the demand for hair restoration procedures in the coming years
Advanced Technology and Techniques in Hair Transplant Procedures are driving demand for Clinics:
The market for hair transplant clinics is expanding due to the rising demand for hair restoration procedures prompted by a variety of factors such as genetic predisposition, aging, and certain medical conditions. Technological advancements and enhanced techniques have made the process safer, more effective, and affordable. With the help of robotics and advanced imaging technology, the results are more consistent and precise. Furthermore, the increasing recognition and approval of hair transplants as a practical remedy for hair loss have led to an escalation in the number of people seeking such procedures.
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Growing Popularity and Advancements in Follicular Unit Extraction (FUE) are adding to its demand:
The follicular unit extraction (FUE) procedure is a minimally invasive technique for hair transplantation, which entails removing individual hair follicles from a donor area and transplanting them to the desired area of the scalp. Due to its ability to produce natural-looking results with minimal scarring and a shorter recovery period compared to traditional hair transplant methods, the FUE technique has gained popularity. The FUE hair transplant market is expected to expand due to a growing interest in minimally invasive procedures and advances in FUE technology and methods.
Growing demand for Hair Restoration Procedures and the Increasing Prevalence of Hair Loss are driving the Hair Transplant Drugs Market:
Hair transplant drugs can’t currently stimulate hair growth in completely bald areas, but they can help maintain hair growth in individuals undergoing hair transplant procedures. The hair transplant drugs market is expanding due to various factors, including the rising demand for hair restoration procedures and the increasing prevalence of hair loss caused by multiple factors. The market growth is also attributed to the growing awareness and acceptance of hair transplants as a viable solution for hair loss.
Additionally, advancements in technology and techniques used in hair transplant procedures have made the process more effective, safe, and affordable, contributing to the market’s expansion. Furthermore, the increasing investment in research and development of new hair transplant drugs is expected to further accelerate the market’s growth.
Platelet-Rich Plasma (PRP) Therapy for Hair Transplant dominated the market share in 2022:
The growth of platelet-rich plasma (PRP) therapy for hair transplant can be attributed to several factors. Firstly, the therapy is considered a non-invasive and less painful alternative to traditional hair transplant procedures, which makes it more appealing to individuals who prefer to avoid surgery. Secondly, PRP therapy has shown promising results in promoting hair growth and reducing hair loss. Moreover, the therapy has a short recovery time, enabling patients to return to their daily routine soon after the procedure. Lastly, PRP therapy uses the patient’s blood, reducing the risk of rejection or allergic reactions.
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Significant Growth is expected in the Asia-Pacific Hair Transplant Market in the Coming Years:
The hair transplant market in the Asia-Pacific region is being driven by several factors, including a growing awareness and acceptance of hair restoration procedures, rising disposable income, advancements in technology and techniques, and an increasing prevalence of hair loss. In countries like India and China, traditional natural and herbal-based products are commonly used for hair loss treatment, but unhealthy lifestyles have led to hair fall becoming a significant issue, particularly among young people. Among males, who are more prone to hair loss, organic hair loss products are particularly popular. While Asian hair is generally less prone to genetic thinning, approximately one million men and women in the region are affected by hair loss, with 21% of men and 6% of women in China experiencing genetic hair loss, according to data from the US and Belgravia Centre.
- Service Procedure – The Report covers Global Hair Transplant Market, by service procedure in 4 viewpoints (Hospital, Clinics, Surgical Centres, and Others).
- Procedure – By procedure, the Global Hair TransplantMarket, breakup in 2 viewpoints (Follicular Unit Extraction, and Follicular Unit Transplantation).
- Product – The Report covers Global Hair Transplant Market, by productin 5 viewpoints (Gel, Serum, Drugs, Multi Vitamins, and Others).
- Therapy – By therapy, the Global Hair TransplantMarket, breakup in 3 viewpoints (Low level laser therapy, Stem cell hair restoration, and Platelet rich plasma).
- Region – The Global Hair TransplantMarket by region breakup in 5 viewpoints (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
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