Hair Transplant Market is expected to grow from USD 5 billion in 2022 to USD 24.53 billion by 2030 : GreyViews

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Pune India, Jan. 23, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the hair transplant market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the hair transplant market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the method, therapy, service provider, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.

The significant players operating in the global 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. To achieve a substantial market share in the worldwide hair transplant market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Moving the patient’s own hair is done during hair transplant surgery to cover up bald or sparse areas. Since the 1950s, doctors have been doing these transplants in the United States, although procedures have recently undergone considerable modification. In the doctor’s office, the procedure is frequently carried out. Prior to administering a drug to numb the back of the skull, the surgeon first cleans the scalp. For the transplant, the physician will decide between follicular unit strip surgery (FUSS) and follicular unit extraction (FUE). On the back of the skull, a 6- to 10-inch piece of skin is removed using FUSS. After being sewn shut, the scalp was set aside. This area is quickly hidden by the hair around it. After that, the surgical team divides the scalp strip into 500 to 2,000 microscopic grafts, each of which has one to a few hairs. The kind, quality, and colour of a person’s hair and the size of the area being transplanted determine the number and type of grafts that person will receive. If the patient is having a FUE procedure, the surgical team will shave the rear of the scalp. The doctor will next individually remove each hair follicle from that area. The tiny areas of skin that are mending will be hidden by existing hair. After that, the surgical team divides the scalp strip into 500 to 2,000 microscopic grafts, each of which has one to a few hairs.

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Scope of Hair Transplant Market Report:

Report Metric Information
Study Period 2022-2030
Base Year           2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Method, Therapy, Service Provider, and Regions.
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players 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.

Segmentation Analysis

Follicular unit extraction is expected to be the fastest-growing segment in 2022. 

The method segment is follicular unit transplantation and follicular unit extraction. The follicular unit extraction segment is expected to witness the highest growth rate during the forecast period. The FUE procedure, also known as grafting, involves taking individual hair follicles from the epidermis and transplanting them to a region of the body where there is little to no hair. During the extraction procedure, a number of tiny, circular punctures or incisions are made in the donor area. FUE transplant has experienced a rise in popularity since it is less invasive than Follicular Unit Transplantation FUT, leaves almost no visible scars, heals more quickly, and is more comfortable for patients.

PRP  is expected to be the fastest-growing segment in 2022. 

The Therapy segment includes PRP, stem cell, laser therapy, and others. The PRP segment is expected to witness the highest growth rate during the forecast period. The continued development of technology, the integration of remote monitoring technologies into devices, improved accessibility, and patient population awareness in the stem cell market are all factors that have contributed to the segment’s growth. The development of artificial intelligence, the development of novel technologies, and the rising popularity of self-care treatments are examples of technological advancements that can be directly linked to the market’s growth.

Clinics equipment is expected to be the fastest-growing segment in 2022. 

The service provider segment includes hospitals, clinics, surgical centers, and others. The clinics segment is expected to witness the highest growth rate during the forecast period. The growing number of alopecia instances and the growing elderly population are both responsible for the segment’s growth. Hair transplant clinics were able to serve the demands of alopecia patients as a result of better economic outreach and cost-effectiveness.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the hair transplant market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The North America region witnessed a major share. The increasing demand for hair transplant treatments and the presence of a substantial player base in this market has led to additional product releases and market expansions. For the purpose of advancing the development of its original therapeutic therapy for hair loss, Stemson Therapeutics received USD 15 million Series A financing from DCVC Bio in July 2022. Additionally, the company received USD 7.5 million in venture capital in September 2020 to advance the development of Stemson’s therapeutic therapy for hair loss from impact investors FortunisCapital and Allergan Aesthetics, an AbbVie affiliate. As a result of all the aforementioned factors, the market is consequently anticipated to grow significantly.

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 location for hair transplants because of the country’s high medical standards, first-rate care at facilities with state-of-the-art technology, abundance of plastic surgeons, and reasonably priced healthcare. The majority of Europe’s largest hair transplant facilities are found 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. A highly developed medical industry, an increase in the number of healthcare professionals, and affordable healthcare costs are some of the reasons boosting China’s growth. Additionally, social media alone is crucial for promoting hair transplant procedures.

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. This area has a sizable population, and many individuals are drawn to aesthetic improvement. The considerable market share of the industry is also a result of the rising frequency of diseases like alopecia, which is followed by quick changes in lifestyle and urbanisation.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of the hair transplant market is mainly owing to the rising population of alopecia patients.

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