Hair Transplant Market – Overview
According to a new report by Market Research Future, the global market for hair transplant is predicted to touch USD 23,881.9 million by 2023 from USD 4,128.1 in 2016. The market is anticipated to expand at 24 % CAGR over the forecast period (2017-2023) owing to the number of surgical procedures and high success rate of treatment. Hair transplant is a surgical procedure in which hair follicles are transferred from one part of the body to the bald area and is mainly used treat baldness in females and males. Hair transplant has been a boon for those people struggling with hair loss.
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Future Constraints and Drivers Impacting the Market Growth:
The two types of procedures used in hair transplantation are Follicular Unit Extraction (FUE) and Follicular Unit Transplantation (FUT). The global market for hair transplantation is likely to fuel during the assessment period owing to the high success rate of treatment, increasing number of surgeries, increasing demand from emerging economies, and usage of high dosage drugs. Several people are suffering from hair loss due to stress, tension, depression, thyroid disease, scalp infections like ringworm, and several other factors. This generation does not shy away from opting medical aid to prevent hair loss. Due to this fact, the global market for hair transplant is likely to stimulate over the assessment period. Moreover, the success rate is high which further contributes to the growth of the market.
However, there are certain side effects caused by hair transplantation. Swelling of the scalp, bleeding, infection, bruising around the eyes, numbness on the implanted areas, itching, unnatural-looking tufts of hair, inflammation or infection of hair follicles, and others are some of the side effects affecting the brand image and is predicted to hinder the market growth during the assessment period.
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Global Hair Transplant Market – Segmentation:
The global market for hair transplantation has been segmented based on surgical methods, type of surgery, end-users, and region.
By mode of surgical methods, the global market for hair transplant has been segmented into Follicular Unit Extraction (FUE) and Follicular Unit Transplantation (FUT). Among these, the follicular unit transplantation has been expected to hold the largest market share with 52.7 %.
By mode of surgery, the global market for hair transplant has been segmented into eyebrow transplant, head hair transplant, reconstruction or frontal hairline lowering, and others. Among these, the segment for head hair transplant holds the largest market share with 88.3 %.
By mode of end-users, the global market for hair transplant has been segmented into hospitals, trichology clinics, dermatology clinics, and others.
America Dominates the Global Market:
Geographically, the market for hair transplant has been spanned across North America, Asia Pacific, Europe, and Rest-of-the-World.
The American region is anticipated to hold the largest market share with 2,240.7 million in 2016. Introduction of robotic surgical hair transplant system like the ARTAS system promises safe and efficient hair transplantation. Also, use of Neograft Hair Transplantation System is set to gain traction in the global market.
Asia Pacific is projected to be the second largest and the fastest growing market and is predicted to expand at 24.3 % CAGR during the assessment period. With growing celebrity and media influences, peer pressure, rapid urbanization, high income, and growing awareness regarding one’s appearance, the market in this region is anticipated to stimulate during the assessment period in this region. Meanwhile, due to the lack of treatment knowledge, the market in Middle East and Africa is likely to grow at a steady pace.
Dr. Umar’s UGraft technology was premiered at the ISHRS live procedure workshop and was made available to Follicular Unit Extraction hair transplant clinics. The technology promises remarkable innovation for the future of FUE surgery by expanding the scope for the patients and enabling successful hair transplantation.
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