Hair Transplant Global Market Report 2023: Sector to Reach $53.17 Billion by 2028 at a 23.8% CAGR

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Apr 21, 2023, 17:30 ET

DUBLIN, April 21, 2023 /PRNewswire/ -- The "Hair Transplant Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

Global Hair Transplant Market is expected to reach US$ 53.17 Billion by 2028, according to the publisher.

The hair transplant industry is a developing and a attractive sector, driven by rising demand for cosmetic surgeries to enhance looks and self-esteem. Advances in surgical procedures and instruments, as well as increased public knowledge of the process, have all contributed to the industry's expansion in recent years.

For example, the International Society of Hair Restoration Surgery (ISHRS) predicts that 2,221,191 hair restoration treatments would be conducted worldwide in 2021, with hair restoration procedures increasing by 7% globally between 2019 and 2021.

Hair Transplant Growth Trends appears to grow with a double-digit CAGR of 23.84% during 2022-2028

Furthermore, the increasing frequency of chronic diseases like cancer, hyperthyroidism, and hypothyroidism causes hair loss, which drives market expansion. Increased usage of chemotherapies, which causes hair loss and increases demand for hair transplant surgery. The market is growing because to an increase in the number of product approvals and product launches for hair transplantation procedures.

However, the sector confronts a number of obstacles, including a lack of standardization and regulation, as well as the possibility of substandard outcomes from unskilled or unlicensed practitioners. As a result, patients considering hair transplant surgeries should do their homework and select a trained and recognized surgeon to achieve the best potential results. For the year 2022, Hair Restoration Market World over was worth US$ 17.75 Billion.

Increasing Surgeries at Hospitals and Clinics to Aid Market Share

Hair transplants can be done in a variety of settings, including hospitals, clinics, surgical centres, and other facilities. Clinics that perform hair transplant surgeries may also provide additional hair loss therapies such as topical and oral medicines, laser therapy, and scalp micropigmentation. Patients must conduct research and select a reputed and competent clinic for their hair transplant process. Look for clinics that have a trained medical staff, employ established treatments, and have a track record of favourable results.

Overall, the hair transplant market in Clinics is expanding, fueled by rising demand for hair restoration surgeries and technological developments. For example, HHC (Hermest Hair Clinic) established a cost-effective and innovative follicular unit extraction (FUE) technique service for hair transplants in Turkey in April 2022. Such innovations are expected to drive market expansion over the study period.

Hair transplant treatments are often conducted in hospitals as part of a bigger medical centre that provides a full range of medical services and resources. Emergency services are frequently offered in hospitals, which can give an additional degree of protection for individuals having hair transplant surgeries. The hospitals segment is predicted to grow significantly during the hair transplant market projection period, owing to the availability of various hair transplant procedures and an increase in government investment to strengthen the healthcare sector.

The Increasing use of Follicular Unit Extraction (FUE) will Drive Market Growth

To restore hair in bald areas, several hair transplantation techniques such as follicular unit transplantation (FUT) and follicular unit extraction (FUE) are undertaken. Hair transplantation is most typically used to treat male pattern baldness, but it can also be used to treat female hair loss and balding. FUE is a popular hair restoration method because it has numerous advantages over traditional hair transplant procedures, such as less invasiveness, more natural-looking outcomes, a quicker recovery period, and a high degree of customisation. These elements are propelling FUE's popularity and ensuring its continuing expansion as a hair restoration procedure.

For many years, FUT has been a popular hair restoration method, and it remains a viable alternative for people seeking hair restoration. FUT is a well-established hair restoration procedure that is anticipated to flourish and grow in popularity in the next years, especially as technology advances and people become more aware of their alternatives. However, it is critical to select a trained and experienced practitioner for any hair restoration surgery, as the outcomes might vary widely depending on the practitioner's abilities and knowledge.

The Growing Number of Persons Experiencing Hair Loss will have an Impact on Regional Growth

North America, Europe, and Asia Pacific are among the most populous and fastest-growing markets for hair transplant treatments, owing to reasons such as ageing populations, rising disposable incomes, and increased knowledge of the process. Hair transplant market growth is being driven by an increase in the number of operations performed in the United States. According to the American Society of Plastic Surgery (ASPS), 24,348 hair transplantation surgeries were conducted in the United States in 2019.

Furthermore, a growth in physical appearance awareness among Europeans, as well as an increase in the number of people suffering from baldness, increases the need for hair transplant procedures. According to the New Look Institute, a hair restoration facility, in 2021, around 39.24% of the male population in France will be bald.

Emerging Asian countries are focusing on the development of superior healthcare facilities while reducing prices and medical tourism. Istanbul has become the Global Hair Transplant Capital. Turkish health institutions and physicians specialized in this topic have become a global phenomenon in recent years.

During the Projection Period, Platelet Rich Plasma Treatment is Predicted to Increase at a Faster CAGR

The market is divided into three segments based on therapy: low level laser therapy, stem cell hair restoration, and platelet rich plasma. Platelet-rich plasma therapy techniques in hair loss treatment are rapidly expanding, which is projected to enhance demand for platelet-rich plasma (PRP) therapy. Due to its non-surgical and minimally invasive nature, Platelet Rich Plasma (PRP) therapy for hair loss has grown in popularity in recent years. Rising popularity and efficacy of PRP therapy is projected to recover with minimum scarring following transplantation, leading in increased demand for platelet-rich plasma therapy throughout the projection period.

Stem cell hair restoration treatment is a novel and rapidly developing topic in the hair transplant business. Despite these emerging trends, stem cell hair restoration therapy is still in its infancy, and more study is required to properly understand its efficacy and long-term effects. Furthermore, not all clinics offering stem cell hair restoration therapy have the requisite experience and technology, so selecting a recognised and competent facility for treatment is critical.

Drug Product holds Majority of the Market Share

The hair transplant market is divided into gel, serum, medicines, multivitamins, and others based on product. The medication hair transplant market is continually growing, with new products and treatments being created on a regular basis. Minoxidil and finasteride are two regularly used drugs for the treatment of hair loss. Minoxidil is a topical drug that is readily accessible without a prescription and is used to treat both male and female pattern baldness. Finasteride is an oral medicine that is mostly used to treat male pattern baldness. It is taken on a daily basis and has been proved to be useful in certain men in reducing or preventing hair loss and encouraging hair growth.

Procedure - Hair Transplant Market breakup from 2 viewpoints:

1. Follicular Unit Extraction (FUE)
2. Follicular Unit Transplantation (FUT)

Therapy - Hair Transplant Market breakup from 3 viewpoints:

1. Platelet Rich Plasma
2. Stem Cell Therapy
3. Laser Therapy

Product - Hair Transplant Market breakup from 5 viewpoints:

1. Gel
2. Serum
3. Hair Transplant
4. Multivitamins
5. Others

Region - Hair Transplant Market breakup from 5 viewpoints:

1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle East & Africa

Service Provider - Hair Transplant Market breakup from 4 viewpoints:

1. Clinics
2. Surgical Centers
3. Hospitals
4. Others

Key Topics Covered:

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics

5. Global Hair Transplant Market

6. Market Share - Global Hair Transplant Analysis

7. Service Provider - Global Hair Transplant Market

8. Procedure - Global Hair Transplant Market

9. Region - Global Hair Transplant Market

10. Product - Global Hair Transplant Market

11. Therapy - Global Hair Transplant Market

12. Key Players Analysis

Companies Mentioned

Venus Concept Inc
Sisram Medical Ltd
CUTERA, INC
Allergan Plc

For more information about this report visit https://www.researchandmarkets.com/r/5zhkaf

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