Hair Transplant Market Overview
The global hair transplant market is expected to exhibit a strong 24% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The growing demand for hair transplants from emerging economies such as China is likely to be a vital driver for the global hair transplant market over the forecast period. The report examines the major drivers and restraints affecting the global hair transplant market and provides a clear overview of the market’s leading motivators. The economic background of the hair transplant market and regulatory factors set to affect the market in the coming years are also profiled in the report.
Hair transplant surgeries are performed to reduce or mask male pattern baldness. Donor grafts are surgically implanted onto the host’s body, mainly the scalp, to provide the latter with a full head of hair, which is the most often complaint associated with hair transplant surgeries. Growing awareness about advanced hair transplant procedures, which are safe and long-lasting, is likely to be a major driver for the hair transplant market over the forecast period. Legacy hair transplants were known for their unreliability, as surgical processes hadn’t advanced to a point where hair transplant surgeries could guarantee strong, thick hair for a lifetime. However, modern advances in cosmetic surgery and growing understanding about the skin surface and its interaction with various chemicals have led to a growing demand for highly developed hair transplant procedures. This is likely to remain a key driver for the global hair transplant market over the forecast period.
Growing prevalence of stress among the urban populace and the growing prevalence of unhealthy dietary choices that affect hair growth adversely have been the major drivers for hair fall conditions. The urban youth is likely to be a key demographic for the hair transplant market, as the rates of baldness manifesting younger in the individual’s life are increasing rapidly.
Hair Transplant Market Competitive Analysis:
Leading players in the global hair transplant market include Bosley, Ethics Hair Instruments, Bernstein Medical, Cole Instruments Inc., Restoration Robotics Inc., and MEDICAMAT. Major focus among the major players operating in the hair transplant market is likely to be on product development and getting regulatory approval in new markets. Inorganic growth strategies such as mergers and acquisitions are also likely to be widely applied in the global hair transplant market.
Hair Transplant Market Segmentation:
The global hair transplant market is segmented on the basis of surgical method, surgery type, end use, and region.
By surgical method, the global hair transplant market is segmented into follicular unit transplantation, follicular unit extraction, and others. The follicular unit extraction (FUE) segment is further sub-segmented into follicular isolation technique, robotic hair transplantation, and automated FUE hair transplantation.
By surgery type, the global hair transplant market is segmented into head hair transplant, eyebrow transplant, frontal hairline lowering or reconstruction, and others.
By end use, the global hair transplant market is segmented into trichology clinics, hospitals, dermatology clinics, and others.
Hair Transplant Market Regional Analysis:
The Americas dominates the global hair transplant market, followed by Asia Pacific. The growing volume of hair care treatments being performed in the U.S. and Canada is the major driver for the hair transplant market in the region. Growing prevalence of stress and psychological conditions in the region is likely to be a major driver for the hair transplant market in the region, especially concerning the demographic older than 30 years of age. Reduced levels of nutrition and hormonal changes past the age of 30 are also responsible for a growing risk of hair loss, especially in women.
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Asia Pacific is also likely to be a major regional market for hair transplants over the forecast period. The growing prevalence of stress in the urban population in Asia Pacific is a major driver for the hair transplant market in the region. Increasing disposable income of consumers is also likely to be a key driver for the hair transplant market in Asia Pacific.
In October 2019, Tsinghua University in Beijing, China announced the results of a study spanning 4,000 university students, showing that the problem of hair loss and baldness is increasingly becoming a problem of the young. The study showed that about 60% of the student population had suffered from some form of hair loss.