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.
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.
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.
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Hair Transplant Market Competitive Landscape and Key Development
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.
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.
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.
Hair Transplant Market: Segmental Overview
The global hair transplant market by procedure was led by surgical segment. In 2017, the surgical segment held a largest market share of 91.0% of the hair transplant market, by procedure. The segment is also expected to dominate the market in 2025, as it offers better results as compared to the non-surgical procedure. Also, the procedure can be done on lashes and brows.
The hair transplant market by site of transplant was segmented scalp transplant, facial transplant, chest transplant, and others. The scalp segment held the largest share of the market, by site of transplant. Additionally, the segment is likely to dominate in the forecast period, due to increasing prevalence of baldness.
The hair transplant market by therapy was segmented into platelet rich plasma, ravage 670 and laser caps. The platelet rich plasma segment held the largest share of the market, by therapy. The segment is also anticipated to grow at a steady rate during the forecast period, as it is used for the treatment of androgenic alopecia or male pattern baldness, the most common form of baldness observed in males and females.
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