According to The Insight Partners market research study titled ‘Hair Transplant Market to 2025 – Global Analysis and Forecasts by Procedure, Site of Transplant and Therapy, the global hair transplant market was valued at US$ 5,272.1Mn in 2017 and is estimated to reach US$ 28,627.6 Mn by 2025. The report highlights the trends prevalent in the global hair transplant market and the factors driving the market along with those that act as deterrents to its growth.
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The global hair transplant market is a mature market in the developing countries as well as in developing economies worldwide. The advancements in hair transplant procedures such as follicular unit extraction (FUE) and follicular unit strip surgery (FUSS) in the recent years are expected to bolster the market growth. Among the type of procedures, the demand for the hair transplant is significantly high for FUE, followed by FUSS. In FUE technique each hair graft is removed one by one from the donor site using a punch tool. The procedure is performed to restore the smaller area (number of grafts) compared to the FUSS method. Furthermore, declining cost of procedures can be another factor which likely to drive the growth of the hair transplant market during the forecast period.
Hair transplants in men are associated with male-pattern hair loss. However, in the demand for hair transplant procedures in women has increased over the past few years. Hair loss in women expresses in different patterns, generally is more diffuse as compared to men hair loss pattern and it can occur at any age. The increasing number of women with diffuse hair loss and hair thinning also is expected to propel the growth of the global hair transplant market. According to the International Society of Hair Restoration Surgery, in the US nearly. 21 million women suffer from hair loss which is nearly 40% of all the hair transplant patients.
The market for hair transplant is well established in the region of North America, owing to the awareness regarding medical practices and technological developments in the hair transplant. Various market players have been focusing towards shifting their customer base in North America. However, in Middle East & Africa, Turkey is one of the most popular destinations with affordable price ranges and skillful doctors for hair transplantation. The hair restoration industry has grown at a higher pace in the past decade in the country. Cheap hair transplant surgery is one of the major factor that bring visitors to Turkey. The recent advancements in FUE techniques have improved the process and brought the costs down in the country. Besides the cost, the doctor decides on the patient’s condition to decide which method is the most effective. The FUE is recommended for patient who had a hair transplantation before or for those with tight scalp.
The key players operating in the field of hair transplant market worldwide include Cole Instruments Inc., CAPILLUS, LaserCap Company, Apira Science, Harris FUE Instruments, HairMax Inc., THERADOME, FueInstrument, Shaanxi Xingmao Industry Co., Ltd, and Restoration Robotics, Inc. among others.
Rise in the Number of Surgical Hair Restoration Procedures
In recent years, there has been a considerable rise in the number of surgical hair restoration procedures. Hair transplant surgery offers benefits such as, original hair color and appearance, and the results are permanent. The process is completely safe and does not include harmful chemicals that might cause harm to the individual. The above stated factors are responsible for the increase in the demand for hair transplant procedures worldwide. This gradual increase in the number of hair transplant surgeries is anticipated to increase the demand for transplant in the forecast period.
Increase in the Number of Hair Transplant Procedures among Men
Hair transplant procedures have been opted by men on a large scale in the past few years. Since men are more prone to baldness, they hold maximum share as the users of hair transplant procedures. According to the International Society of Hair Restoration Surgery, the percentage of men undergoing hair transplant surgery increased from 84.7% in 2014 to 85.7% in 2016. Factors such as rising work pressure, stress, improper eating habits, heredity, and exposure to chemicals among others, cause hair fall and receding hair line. Growing media and celebrity influence, societal pressure, and growing urbanization are some of the factors encouraging individuals to opt for hair transplant procure in order to enhance their physical appearance.
The report segments the global hair transplant market as follows:
Global Hair Transplant Market – By Procedure
Follicular Unit Strip Surgery (FUSS)
Follicular Unit Extraction (FUE)
Global Hair Transplant Market – By Application
Global Hair Transplant Market – By Therapy
Platelet Rich Plasma
Revage 670 Laser
Global Hair Transplant Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South & Central America (SCAM)
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