Market Research Future has Discovered that the Global Hair Transplant Market is on track to witness growth at a striking CAGR of 24% during the review period from 2019 to 2023.
Hair Transplant Global Market – Overview
The Global Hair Transplant Market is growing with the rapid pace; mainly due to the increasing demand for Hair Transplant treatments and introduction of advanced technology in the Hair Care and Hair Rejuvenation industry.
According to a recent study report published by the Market Research Future, The global market of Hair Transplants booming and expected to gain prominence over the forecast period. 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 % for the forecasted period. The numbers indicate that the market is going to grow in multi folds.
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The market for Hair transplant is mainly driven by Social and cultural factors such as influence of media, fashion and film industry, peer pressure for appearance and beauty, changing dimensions of beauty etc. The growth of the tourism industry and formation of tourism clusters have not only increased exposure to Hair Transplant but have also created a high point demand for these treatments. There has been rising trend of Hair Transplant with a hefty 40% growth with men especially for beard. Additionally, health factors such as accidents, the safety margin that the treatment offers, and the growing number of Hair Transplant hospitals etc. are providing impetus to the market growth of Hair Transplant. Moreover technological factors such as development of advanced technologies like robotics hair-transplant are fostering the market growth further. Also, the fact that some Financing agencies, hair-transplant clinics and other medical practitioners who offer Hair Transplant procedure also offer easy financing plans; this factor also adds on the market growth of Hair Transplant market.
Appearances are important, our hair represents our personality and a head full of thick hair/mane is accountable for almost 80% of beauty. The deep personal relationship between hair and self-esteem is evident throughout history, philosophy and even religion. Everyone strives to have Shiny, thick and Healthy Hair. And this very desire catalyzes the notion of Hair Transplant.
Hair Transplant refers to a surgical technique that extracts hair follicles from a part of the body to a balding part. It is primarily used to treat male pattern baldness. In this minimally invasive procedure, grafts containing hair follicles that are genetically resistant to balding. Back of the head are transplanted to the bald scalp.
Top Players:
- Bernstein Medical (US)
- Bosley (US) Cole instruments (US)
- Ethics hair instruments (India)
- MEDICAMAT (France)
- and Restoration Robotics Inc. Company
Hair Transplant Market – Competitive Analysis
Characterized by the presence of several well-established players having regional and international presence, the global Hair Transplant Market appears to be highly competitive yet consolidated. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, Technology and services. Hair Transplant market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further with an increase in service extensions, technological innovations. To gain the competitive edge and to stay abreast in the market; marketers ensure that the information about Hair Transplant procedures is provided thoroughly to the client only by a well-trained surgeon. They strive to offer uniquely customized solutions to reflect specific aesthetic preferences. These Key Players also ensure to provide the best possible patient care throughout Hair Transplant experience.
Hair Transplant Market – Segments
Global Hair Transplant Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Surgical Methods: Comprises – Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE) and other.
Segmentation By Type of Surgery: Comprises – Head Hair Transplant, Eyebrow Transplant, Frontal Hairline Lowering or Reconstruction and other.
Segmentation By End User: Comprises – Trichology Clinics, Hospitals, Dermatology Clinics, and other.
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Follicular Unit Transplantation segment accounts for the largest market share with 52.7 % of the global hair transplant market by method.
Head hair transplant segment accounts for the major share of 88.3% in the market of hair transplant.
Trichology clinics accounts for the largest market share in global hair transplant market by end users and is expected to reach USD 14,193.7 million by 2023.
Hair Transplant Market – Regional Analysis
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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