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Hair Transplant Market demand worth over $40 Bn by 2026

  • Published Date: October 23, 2020

Hair Transplant Market size is set to surpass USD 40.1 billion by 2026, according to a new research report by Global Market Insights Inc.

Rise in number of people suffering from hair loss across the globe will act as high impact rendering factor for the market growth. With number of people especially men suffering from baldness, more and more young men are opting for hair transplant procedures. Hence, these factors will increase the number of people opting for hair transplant therapy.  

Recent technological advancements in the developed regions of North America and Europe will boost the hair transplant market revenue in the coming years. Introduction of technologically advanced robotic surgical hair transplant system including the ARTAS system will result in efficiency and safety of the procedure. Recent development involves the use of Neograft Automated Hair Transplantation System, which is a rapidly evolving technology for both men and women that desire to restore their hairline using Follicular Unit Extraction (FUE) method. The market is expected to continue its robust growth in the future, as more technologically advanced devices are forecast to enter the space to meet the patient needs and demand.

Growing adoption for hair transplant products will spur the market value

Growing technological advancements promoting efficient hair regrowth and styling will fuel the market demand. Increasing investments by the key industry players to develop superior hair transplant products are also contributing to the market revenue.

Hair Transplant Market Forecast

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Browse key industry insights spread across 246 pages with 395 market data tables & 20 figures & charts from the report,Hair Transplant Market Size By Method (Follicular Unit Extraction [FUE], Follicular Unit Transplantation [FUT]), By Product (Gel, Serum, Drugs {Finasteride, Minoxidil}, Multivitamins), By Therapy (Platelet Rich Plasma, Stem Cell Therapy, Laser Therapy), By Gender (Male, Female), By Service Provider (Hospitals, Clinics, Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

Rising preference for follicular unit transplantation (FUT) owing to several advantages

Follicular hair transplantation segment is anticipated to witness  around 19.5% growth rate till 2026 driven by the cost-effectiveness of hair transplantation in single session. Increasing number of male and female pattern baldness is further fueling the market size.

Increasing preference for hair serum will propel the market growth

Serum product segment in the hair transplant market is poised to expand at a CAGR of 26.3% through 2026 due to the growing influence of aesthetics among people. Introduction of latest serum products that makes the hair soft and assist in curbing hair loss will further influence the segment growth.

Benefits offered by the non-invasive treatment will boost the hair transplant market revenue

 Laser therapy segment valuation was USD 130 million in 2019led by growing demand for non-invasive and less painful treatments for hair transplantation. High disposable income, technological advancements and rising demand for minimally invasive procedures will further fuel the market expansion.

Changing lifestyle and hormonal imbalances among women will drive the industry

The hair transplant market from female segment is projected to attain 25.9% CAGR over 2020 - 2026on account of hormonal imbalances that occur during pregnancy and menopause. Furthermore, changing lifestyle and rising number of cosmetic practices are some of the factors that are propelling the demand for hair transplant.

High quality of care in the hospitals will spur the hair transplant market

Hospitals accounted for  nearly USD 691 million revenue in 2019 driven by growing number of multi-specialty hospitals that have created more opportunities for better hair transplant techniques coupled with facilities with advanced technologies. In addition, rising number of genetic screening at affordable price will be one of the major factors boosting the market revenue.

Growing number of alopecia patients visiting Turkey offers a lucrative growth

Turkey hair transplant market size valued at USD 1.3 billion in 2019 impelled by increasing number of people visiting the country for the hair transplant treatment. Presence of large number of clinics along with cost-effective surgeries have augmented the country’s market expansion. Moreover, state-of-the-art healthcare infrastructure and growing healthcare expenditure in the country will augment the regional growth.

Key players are adopting several business strategies to capture significant market share

Some of the major players operating in the hair transplant market are Allergan Plc, Bernstein Medical, Bosley, GETFUE Hair Clinics Ltd., Hair Restoration BlackRockHRBR, Hair Club, Venus Concept (NeoGraft), Hairline International Hair and Skin Clinic, Hair Transplant Centre Turkey, Hair Transplants of Florida, Cole Instruments Inc., and among others. Increasing focus of the market leaders on manufacturing and developing innovative products for effective hair transplantation will provide significant growth opportunities.

Several established companies are implementing various inorganic and organic growth strategies in order to enhance their market value and strengthen their industry position. For instance, in March 2020, L’Oreal shared hair cloning poster of a research involving the creation of hair follicle ganoids in a dish. This strategic move will assist the company in enhancing their product portfolio and customer base.

Authors: Sumant Ugalmugle, Rupali Swain