With increased importance being placed on aesthetics, hair transplants are also becoming increasingly prevalent in today’s times. Market Research Future, a firm which specializes in market reports related to the healthcare sector among others, published in its recent report on ‘Global Hair Transplant Market Research Report- Forecast to 2023’ that the global hair transplant market is forecasted to reach USD 23,881.9 million by 2023 from USD 4,128.1 in 2016 with a CAGR of 24 % for the forecasted period.
Demand for hair transplants from consumers has led to the development of the market at a swift pace. Hair loss cases have increased in the recent times mainly due to alteration in lifestyle factors and health issues. Factors such as cancer are one of the main causes for hair loss due to the use of chemotherapy as one of the treatment methods. Male pattern balding and other scalp diseases can further contribute to the growth of the hair transplant market. Hair diseases like alopecia and hair loss due to stress are additionally increasing the need for hair transplant cases. Developments in the hair transplant sector such as intensive investment in R&D to develop new procedures and products to correct hair loss are providing further traction to the growth trajectory of this sector.
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Growing societal pressure to appear aesthetically pleasing in both professional and personal setups has increased the demand for hair transplant procedures especially in societies near urban metropolitan areas. The hair transplant market typically consists of consumers who are younger as well as people in the 50s.High levels of disposable income have stimulated an increase in hair transplant procedures. Hair transplant segment accounts for the major share of 88.3% in the market of hair transplant. Factors such as cost, credibility and competing products can restrict growth of the hair transplant market.
Latest Industry News
Sep 2017 Restoration Robotics has filed to go public with a price range of $7 to $9 a share, which would give the company a valuation of up to $25 million. By selling 3.12 million shares of stock, the company would raise up to $28 million. Restoration Robotics believes it’s poised to bring in more revenue, thanks to an aging population that has money to spend and that particular population’s growing acceptance of surgery for aesthetic reasons.
Dec 2017 The Kerastem team has successfully identified a treatment that stimulates hair growth in people with early stage hair loss. Kerastem is poised to disrupt this market based upon the results from STYLE and is actively signing and exploring distribution relationships outside of the United States
June 2017 Richfeel that runs a chain of hair and scalp clinics is aiming to double revenue to Rs 200-250 crore in the next three years and plans to add 42 centres in the next 2-3 years as part of its expansion strategy. The company has invested Rs 40 crore in the last four years and is looking to raise Rs 60 crore to scale up.
Nov 2016 NeoGraft Solutions announced its acquisition of the French company Medicamat. With this addition, NeoGraft is now poised to rapidly expand their position as the worldwide leader of the $2.5-billion hair restoration market. As the market leader of follicular unit extraction devices in the United States of America, this move furthers NeoGraft’s mission to become the most trusted global authority on minimally invasive hair restoration.
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Global Hair Transplant Market – Competitive Analysis
With the entry of new industry players in the hair transplant segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products and treatment methods. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
Some of the key players in this market are Bernstein Medical (US), Bosley (US) Cole instruments (US). Some of the other prominent players are Ethics hair instruments (India), MEDICAMAT (France), and Restoration Robotics Inc. Company (US).
Global Hair Transplant Market – Segments
Global hair transplant market has been segmented on the basis of surgical methods, surgery type, end user and region.
On The Basis Of Surgical Methods: Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE).
On The Basis Of Type of Surgery: Head Hair Transplant, Eyebrow Transplant, Frontal Hairline Lowering or Reconstruction.
On The Basis Of End User: Trichology Clinics, Hospitals, Dermatology Clinics and Others.
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Global Hair Transplant Market – Regional Analysis
The global hair transplant market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Considering the global scenario of the market, the Americas is holding the largest market share. This market was valued at USD 2,240.7 million in 2016. Asia Pacific is the second largest and fastest growing market and expected to grow at a CAGR of 24.3% during the forecast period. Europe hair transplant market is also growing significantly. The west European countries like Germany, France, and UK are holding major market share. While UK is believed to be fastest growing market for hair transplant in European region. Europe hair transplant market is expected to reach USD 3,647.3 million by 2033. Due to lack of knowledge of treatments, Middle East & Africa market for hair transplant is expected to grow at a steady pace.
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