CAGR: 22%Current Market Size: USD 5 BillionFastest Growing Region: North America
Largest Market: APACProjection Time: 2023-2030Base Year: 2022
The Global Hair Transplant market is expected to grow from USD 5 billion in 2022 to USD 24.53 billion by 2030, at a CAGR of 22% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising population of alopecia patients.
Hair transplant surgery involves moving the patient's own hair to fill in bald or sparse areas. In the United States, doctors have been performing these transplants since the 1950s, but methods have significantly changed recently. The procedure is often performed in the doctor's office. The surgeon first cleans the scalp before injecting medication to numb the back of the skull. The doctor will select between follicular unit strip surgery (FUSS) or follicular unit extraction for the transplant (FUE). A 6- to 10-inch strip of skin is excised from the back of the head using FUSS. The scalp was closed by sewing, and it was laid aside. The hair around it rapidly conceals this spot. The surgical team then separates the strip of scalp that was removed into 500 to 2,000 microscopic grafts, each containing one or a few hairs. The quantity and kind of grafts a person receives depend on the kind, caliber, and color of their hair as well as the size of the area being transplanted. The surgical team will shave the back of the scalp if the patient is having an FUE operation. Then the physician will remove each hair follicle from that location individually. Existing hair will cover the little spots of healing skin. The surgical team then separates the strip of scalp that was removed into 500 to 2,000 microscopic grafts, each containing one or a few hairs.
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The main factor driving the market is the rising prevalence of androgenetic alopecia. Increased stress levels, heavy drinking, and cigarette and alcohol use are known to be major causes of the condition. A small number of instances have been connected to hereditary factors, despite the fact that the specific etiology of the condition is unknown. The condition is believed to be largely triggered by changes in lifestyle, including excessive alcohol and cigarette use and high levels of stress. Genetic factors have been linked to a number of occurrences, despite the fact that the exact etiology of the disease is unknown. Additionally, the business is anticipated to benefit from factors including increased disposable income and a focus on aesthetics in construction.
Despite the fact that hair transplantation using technology has been shown effective, the high cost of the process is expected to limit market expansion for hair transplants. Depending on the desired surgical approach, the cost of the transplant operation varies. For instance, a study by Robotics found that the average cost of transplantation in the United States is the highest of all the other countries at about $16,000. Additionally, the standard expenditure in developing nations like India is about $3,000 per year. As a result, the high procedure costs are out of reach for the middle-class populations of the countries and will prevent more people from undergoing surgical procedures.
Nearly all men and women who have alopecia can be successfully treated with these transplantation techniques because of the quick improvements in the hair transplantation business. The patient population has grown as a result of the market's success. Due to increased disposable income, both men and women are spending a lot on cosmetic operations in the developing nations of today. Over time, this has caused the market for hair restoration to expand. Americans spent almost USD 15 billion on surgical and non-surgical cosmetic procedures in 2016, according to the American Society of Aesthetic Plastic Surgery.
One of the worst-affected elective treatments during the onset of the COVID-19 pandemic was hair transplantation. The world over, surgical procedures were stopped. Numerous dermatology clinics had to deal with unexpected difficulties due to a lack of patient visits and decreased income. Hair transplant services are reopening with the ease of lockdowns in the majority of countries; nonetheless, adhering to tight procedures has increased the costs for numerous hair professionals. Strict guidelines have been established by the International Society of Hair Restoration Surgery in order to restart clinics and provide infection control measures. The number of appointments and foot traffic each day remains modest. Low patient visits are a result of the lengthy and cautious manner in which the pandemic requires the practice of hair transplantation, which takes a lot of time.
The global Hair Transplant market has been segmented based on method, therapy, service provider, and others.
The method segment is follicular unit transplantation and follicular unit extraction. The Follicular Unit Extraction segment led the largest share of the Hair Transplant market with a market share of around 62% in 2022. FUE, also known as grafting, is a method of hair transplant that involves removing individual hair follicles from the epidermis and relocating them to an area of the body where the hair is sparse or nonexistent. The donor area is punctured or incised with a number of tiny, circular incisions during the extraction process. Due to its less invasiveness than Follicular Unit Transplantation FUT, nearly invisible scarring, quicker recovery, and patient comfort, FUE transplant has seen a surge in demand.
The Therapy segment includes PRP, stem cell, laser therapy, and others. The PRP segment led the Hair Transplant market with a market share of around 26% in 2022. The segment's expansion can be attributed to ongoing technical improvements, the incorporation of remote monitoring technologies into devices, increased accessibility, and patient population awareness in the Stem Cell sector. Technology breakthroughs like the emergence of artificial intelligence, the introduction of novel technologies, and the expanding use of self-care treatment are large to be attributed to the market's expansion.
By Service Provider
The service provider segment includes hospitals, clinics, surgical centers, and others. The Clinics segment led the Hair Transplant market with a market share of around 27% in 2022. The segment's expansion can be attributed to the increasing occurrence of alopecia cases and the increasing geriatric population. Thus, due to better economical outreach and cost-effectiveness hair transplant clinics were able to meet the needs of alopecia-affected patients.
Global Hair Transplant Market- Sales Analysis.
The sale of hair transplant market expanded at a CAGR of 20% from 2016 to 2022.
The main factor driving the market is the rising prevalence of androgenetic alopecia. Increased stress levels, heavy drinking, and cigarette and alcohol use are known to be major causes of the condition. A small number of instances have been connected to hereditary factors, despite the fact that the specific etiology of the condition is unknown. Additional factors that are anticipated to boost market expansion include rising disposable income and a focus on aesthetics in construction. For the finest aesthetic effects, many hair stylists now combine these two procedures. The fact that hair restoration techniques have become less intrusive in recent years is one of the main factors contributing to their popularity.
Due to social media, hair transplant techniques are becoming increasingly popular. A Forbes article from 2019 claims that 5% of influencers who advocate services or products are responsible for 45% of social influence, which will further aid industry expansion. Technology improvements like experimental stem cell therapy and light or laser therapy are also helping the business. The main effects of using stem cell therapy for hair transplant therapies were studied in 2017, according to the National Center for Biotechnology Information. This study suggests that stem cell therapy holds promise for halting hair loss. The results revealed a 29% increase in hair density 23 weeks after the last treatment.
It is believed that alterations in lifestyle, such as excessive alcohol and cigarette use and mounting stress, play a significant role in the development of disease. Genetic variables have been linked to a lot of disease cases, despite the fact that the exact etiology is unknown. Additionally, the business is anticipated to benefit from factors including increased disposable income and a focus on aesthetics in construction. The market for hair restoration procedures such as follicular unit extraction (FUE) and follicular unit transplantation (FUT) is expanding as these procedures' success rates have increased. Additionally, many hair experts now mix these two methods for significant aesthetic results. One of the key factors for their appeal is the fact that hair restoration methods have gotten less invasive in recent years.
Thus, owing to the aforementioned factors, the global hair transplant market is expected to grow at a CAGR of 22% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the Hair Transplant market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the Hair Transplant market and held a 37% share of the market revenue in 2022.
Global Hair Transplant Market- Country Analysis:
Germany's Hair Transplant market size was valued at USD 0.4 billion in 2022 and is expected to reach USD 1.50 billion by 2030, at a CAGR of 18% from 2023 to 2030. Germany is a popular destination for hair transplants due to the high medical standards, excellent service at clinics with cutting-edge equipment, an abundance of plastic surgeons, and affordable healthcare. The majority of the biggest hair transplant centers in Europe are located in Germany.
China’s Hair Transplant market size was valued at USD 0.5 billion in 2022 and is expected to reach USD 2.01 billion by 2030, at a CAGR of 19% from 2023 to 2030. Some of the factors contributing to China’s growth are the presence of a highly developed medical sector, an increase in the number of healthcare providers, and reasonable treatment costs. Also, just social media is essential for publicizing hair transplant techniques.
India's Hair Transplant market size was valued at USD 0.8 billion in 2022 and is expected to reach USD 3.43 billion by 2030, at a CAGR of 20% from 2023 to 2030. There is a large population in this region, and many people are interested in aesthetic enhancement. Additionally, the significant market share of the sector is due to the increased prevalence of disorders like alopecia, which is followed by rapid lifestyle changes and urbanization.
Key Industry Players Analysis:
To increase their market position in the global Hair Transplant business, top companies focus on tactics such as adopting new methods, mergers & acquisitions, Method developments, collaborations, partnerships, joint ventures, etc.
5 billion in 2022
By Method, By Therapy, By Service Provider, and By Region.
Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Bernstein Medical, Bosley, Hairline International Hair and Skin Clinic, Dermamagnetica Clinic, GETFUE Hair Clinics Ltd, Hermest Hair Clinic (Innovator), SPRINGS Hair Restoration, Hair Club, Hair Doc, Hair Palace Clinic, Hair sure transplant center, Hair Transplants of Florida, Limmer Hair Transplant Center, Medical Hair Transplants & Aesthetics, Venus Concept, and Vinci hair clinic.
By Service Provider
Scope of the Report
Global Hair Transplant Market by Method:
Global Hair Transplant Market by Therapy:
Global Hair Transplant Market by Service Provider:
Global Hair Transplant Market by Region:
Global Hair Transplant market size was USD 5 billion in 2022
The North American region market is likely to expand at a high CAGR in Hair Transplant market.
Global Hair Transplant market is growing owing to the rise in alopecia cases around the world.
The top companies in the hair transplant market are Bernstein Medical, Bosley, Dermamagnetica Clinic, GETFUE Hair Clinics Ltd, Hair Club, Limmer Hair Transplant Center, Medical Hair Transplants & Aesthetics, SPRINGS Hair Restoration, Venus Concept , and Vinci hair clinic, and others.
Political Factors- The global hair transplant industry's profitability is impacted by a number of factors. A stable and welcoming business climate with predictable market growth tendencies is provided by high political stability. However, political unrest discourages investors and undermines stakeholders' faith in the economy and, as a result, organizational effectiveness. Hair transplants are being used in all nations, each of which has its own political unrest. Hair transplant’s growth potential may be constrained by the increasing tensions and instability in the world's political climate. Because of the procedure’s frequent skin-to-skin contact, product safety is one of the biggest issues in this market globally. The "Personal Care Product Safety Act" is a stringent US law that enables the FDA to consider even stricter rules and policies regarding the safety of products.
Economical Factors- Unlike other businesses, the hair transplant industry is very resilient to the economic downturn. The 2008 Great Recession was effectively weathered by the industry. The price of the procedure is now carefully considered by consumers since they have grown price sensitive. In 2015, the cosmetics market in the US earned more than $56 billion in revenue. Spending on skincare and haircare is increasing not just among women but increasingly among men. Additionally, the cosmetics sector accounts for more than 14% of the market. People are spending more money on hair cosmetics and skin care products today. In contrast to conventional methods for aesthetic and cosmetic surgery, including laser and other energy-based devices, the use of minimally invasive procedures has increased. Specially constructed devices have been created for minimally invasive surgical and non-surgical operations. By rejuvenating and tightening the scalp, these gadgets aid in minimizing the visible symptoms of baldness and imparting a youthful appearance.
Social Factor- Modern society benefits significantly from the hair transplant industry. The geriatric population is growing due to higher life expectancies, and it has been noted that aging-associated problems are getting worse. While the world's population is aging at an exponential rate, European nations have a number of comparable cultural, social, and economic traits and ambitions. As people begin to age, their desire to look younger grows, which eventually sparks interest in using aesthetic procedures. Better patient outcomes have been achieved as healthcare delivery has improved and the percentage of elderly people has increased in Middle Eastern nations.
Technological Factors- The pace of technical development, automation, R&D efforts, and technology incentives are a few examples of technological aspects. Technology is all around us today. Hair transplants are injected beneath the scalp to replenish lost volume and grow new hair. More than a million people choose this well-known transformation procedure each year to grow hair and improve the appearance of hair in order to enhance facial features. Hair transplants are a successful procedure that can make a person seem younger without surgery or recovery time. Hair transplant treatments come in a variety of forms.
Environmental Factors- In terms of business innovation, cosmetic companies are helping them achieve their objectives of developing sustainable and ecologically friendly businesses. For the purpose of lowering greenhouse gas emissions at manufacturing facilities such as factories, distribution centers, etc., they have devised, designed, and also implemented a number of solutions. The business community is concentrating more than ever on going "green." To reduce their impact on the environment, their packaging is becoming more environmentally friendly. For a period, the ingredient "microbeads" in skin care products dominated the news. These beads removed facial dead skin cells. However, they are terrible for the environment and are made of plastic. The kind of substances used in things other than skin care, such as fillers and surgery, can have a bad impact on the environment.
Legal Factors- Laws pertaining to consumer protection, antitrust, employment, and health and safety regulations are only a few of them. These elements could have an impact on a company's operations, expenses, and product demand. Hair transplant manufacturers must adhere to very strict legal restrictions. The rules, laws, and regulations that apply to the market must all be followed. As a result, it becomes crucial for this company to conduct itself morally and legally in order to avoid facing charges, fines, or other legal implications. The hair transplant industry uses complicated ingredients. The FDA can regulate them without also approving them. The Fair Packaging and Labeling Act (FPLA) and the Federal Food, Drug, and Cosmetic Act (FD&C Act) are the main regulations that the cosmetics and beauty products sector must go by. The FD&C makes sure there is no false information branded on the items while also monitoring ingredients based on their use. The product might not make it to the shelves if there are problems. They might even need to be recalled.
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