Global Hair Restoration Market Trend Analysis On The Basis Of Procedure, Therapy, And Region
Hair Restoration Industry Overview
The global hair restoration market size is anticipated to reach USD 13.6 billion by 2028, according to the new report of Grand View Research, Inc. The market is expected to expand at a CAGR of 15.4% from 2021 to 2028. Hair restoration technique which includes surgical as well as a non-invasive treatment option is an effective procedure to increase hair thickness, fill in a receding hairline, and treat baldness as well as severe alopecia.
According to the American Academy of Dermatology, androgenic alopecia is the most common cause of hair loss in both men and women. According to the American Hair Loss Association, 95 % of hair loss in men is caused by androgenetic alopecia and around 40% of men notice symptoms of baldness by the age of 40.
The market is currently witnessing a surge in treatment adoption due to high psychological stress, poor dietary habits, reduced nutritional levels with age progression, and increasing hormonal changes due to lifestyle shifts among the global population. This surge can also be due to the increased success rate of the transplantation procedures and technological advancement in the field of less invasive hair repair.
In the light of COVID-19, the market was hampered as the footfall of patient appointments for surgical Follicular Unit Extraction (FUE) or Follicular Unit Transplantation (FUT) treatments was temporarily suspended. However since the government in many countries has allowed resuming elective surgical procedures, clinics have also started hair transplant procedures again and international organizations like the International Society of Hair Restoration Surgery (ISHRS) has set strict protocols for resuming hair restoration practices as well as offer patient guidance in finding hair repair clinics deemed.
Hair Restoration Market Segmentation
Grand View Research has segmented the global hair restoration market on the basis of procedure, therapy, and region:
Based on the Procedure Insights, the market is segmented into Follicular Unit Extraction, and Follicular Unit Transplantation.
- The FUE segment accounted for the highest market share of 70.0% in 2020. FUE is a type of hair transplant done by taking individual hair follicles from the skin and moving them to another part of the body where the hair is thinner or absent; also known as grafting.
- Robotic FUE can have a survival rate of 100% thus providing a higher yield of hair. With the increasing success rate of FUE procedures and the less-invasive nature of the technique, FUE is expected to exponentially grow during the forecast period.
Based on the Therapy Insights, the market is segmented into Low-Level Laser Therapy (LLLT), Stem Cell hair restoration, and Platelet-Rich Plasma.
- The Platelet-rich Plasma (PRP) segment had the largest market share of 38.0% in 2020. Plasma-rich protein is said to strengthen a poor donor, increase the transplanted graft yield rate, reduce graft transaction rate, and healing of wounds from the donor and recipient area.
- The stem cell hair restoration segment and the Low-level Laser Therapy (LLLT) segment are also expected to witness significant CAGR over the forecast period. LLLT technique irradiates photons into scalp tissues which are then absorbed by weak cells to encourage hair growth.
Hair Restoration Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The competitive landscape is strengthened by service quality and expertise in carrying out complicated hair transplant procedures. There are very few companies manufacturing transplant devices and others offer topical products like gels, serums, and lotions. For instance, In February 2018, Venus Concept announced the acquisition of NeoGraft Solutions' hair restoration business ("NeoGraft"). Neograft was a developer of hair restoration technologies and topical products. Some of the prominent players in the hair restoration market include.
- Venus concept
- Bernstein Medical
- Bosley
- The Harley Street Clinic
- Advanced hair studio
- Milla Marie
- Lexington Intl., LLC
- Cole Hair Transplant Group
Order a free sample PDF of the Hair Restoration Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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