The Global Hair Transplant Market is expected to reach USD 23,881.9 Million by 2023 from USD 4,128.1 in 2016 with a CAGR of 24.0% for the forecasted period of 2017 to 2023.
Market Overview and Drivers:
The global hair transplant market has been evaluated as a rapidly growing market and it is expected to continue growing in the near future. Hair loss is one of the major problems across the globe. Increasing awareness about various hair transplant treatment is major driver for the market growth. Increasing number of hair transplant procedures is another major factor for market growth. According to International Society of Hair Restoration Surgery in 2014, more than 1 million hair transplant procedures were performed worldwide, out of which 89% of hair-transplant procedures targeted the scalp area and 11% of procedures targeted non-scalp areas of the body. Some other factors are also leading the market growth such as rising stress level, changing lifestyle, unhealthy eating habits, increasing prevalence of number of dermatologic disorders, and increasing consumption of alcohol. Top players of this market are investing large amount of money to develop advanced and innovative products to derive usable solutions for the patients, this is also an important factor for the market growth.
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According to International Society of Hair Restoration Surgery (ISHRS) there is 76% increase in the hair restoration procedures across the globe during 2006-2014 as people are more conscious about their appearance and ready to spend money to look good.
Major Players in Hair Transplant Market:
There are plenty of large and small market players which operate in this market:
- Bernstein Medical (US)
- Bosley (US) Cole instruments (US)
- Ethics hair instruments (India)
- MEDICAMAT (France)
- Restoration Robotics Inc. Company (US)
Global Hair transplant market has been segmented on the basis of surgical methods which comprises of Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE).
On the basis of type of surgery, the market is segmented into head hair transplant, eyebrow transplant, frontal hairline lowering or reconstruction.
On the basis of end user, it is segmented into trichology clinics, hospitals, dermatology clinics, and others.
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Global hair transplant market, on the basis of region is segmented into Americas, Europe, Asia Pacific and Middle East and Africa. Americas accounts for the largest market share in global hair transplant market. Some major factors like usage of high dosage drugs due to cancer and other chronic disease, rising emphasis on skin care and technology advanced hair transplant procedures are driving the growth for this market. Asia Pacific is not only the second largest but also the fastest growing market for hair transplant. Increasing prevalence of skin diseases, increasing stress and workload, increasing expenditure on self-care, and low cost surgeries in Asian countries like India are major driving forces for the Asia Pacific hair transplant market. Europe hair transplant market is also growing and UK is expected to grow the fastest in this region. Middle East & Africa has least market share in the hair transplant market, it is mainly due to lack of required treatment facilities and low awareness of hair transplant treatment.
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