Hair Transplant Market Expected to Grow with a healthy CAGR

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Hair Transplant Market, By Procedure (Surgical Procedures, Non-Surgical Procedures), By Transplant Site (Scalp, Facial, Chest) By Therapy (Revage 670 Laser, Platelet Rich Plasma, Laser Cap) opportunities and forecast 2020-2026. Growing number of people suffering from the baldness or thinning hair are the major industry driving factor for the hair transplant market growth over the anticipated timeframe. Various factors including medications, stress, genetics, ageing, malnutrition, and others can result in the hair loss. According to Hair Society, approximately 21 million women and almost 35 million men suffer from the hair loss. Thus, rising hair loss problem together with the rising occurrence of contributing factors will fuel hair transplant procedure demand over the forecast period.

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Growing fascination about physical appearance coupled with benefits such as hair colour, natural appearance with the long term results are expected to surge adoption rate of the hair transplant therapy. However, high cost of treatment and various adverse effects including rashes, itching associated with the hair transplant drugs are expected to hinder the market growth to certain extent.

Segment Overview

Hair transplant therapy comprises of platelet-rich plasma (PRP), laser therapy and others. Platelet rich plasma therapy market accounted for the major market share in 2019 and is estimated to follow comparable trend in the coming years owing to various benefits of the therapy in hair transplantation. It promotes tissues healing and repair, enhances the hair follicle feasibility and reinvigorates inactive hair follicles. According to International Society of Hair Restoration Surgery nearly 58.8% of patients were given the PRP as healing therapy worldwide in 2017. Therefore, the growing number of hair transplant surgeries are expected to spur the market forecasts for PRP progressively over the forecast period.

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Regional Overview

Increase in the number of private and public clinics offering varied economical solutions for the hair loss problems in the Europe will act as the major driving factor for the Europe hair transplant market. Growing prevalence of the conditions such as hereditary-pattern baldness and Alopecia areata will accelerate the demand for the hair restoration surgeries.

Furthermore, the exponential growth of the Turkey’s medical tourism is expected to positively impact market growth. As per the International Medical Travel Journal, Turkey gets approximately 1.1 million medical and health tourist annually. Thus, the increasing number of people suffering from various diseases such as genetic hair loss, growing number of clinics offering restoration surgeries at inexpensive prices and growth of the medical tourism business in the country will lead to the market expansion of European hair transplant market.

Competitor overview

The companies are implementing many strategies such as partnerships and collaborations, new product launches, in order to increase their revenue share in the booming hair transplant market. In May 2019, Hair Club and Bosley launched BioGraft, a new technology in the hair loss solutions. This new product provides to need of both women and men as well as pools advanced surgical restoration technique the Follicular Unit Extraction (FUE) with the Xtrands+, a non-surgical solution for the hair loss.

Key Players

    Allergan
    Bernstein Medical
    GETFUE Hair Clinics Ltd
    Hair Transplant Center Turkey
    ILHT Dubai
    L’Oreal SA
    Restoration Robotics
    Bosley

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