The global hair transplant market is forecasted to be driven by the growing number of people suffering from hair loss or hair thinning problem. An emerging pattern of baldness amongst both women and men has augmented the demand for hair transplant surgery in the last few years.
Transplantation of hair refers to a surgical procedure comprising removal of hair follicles from the donor site and then planting it in the balding area of the head. Rising incidences of various causative factors like stress, hormonal imbalance, stress, and augmented fixation about one’s physical appearance is likely to boost the global hair transplant market.
The global hair transplant market has been segmented based on market, method, product, therapy, gender, service provider, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.
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Global Hair Transplant Market: Notable Developments
The global hair transplant market is witness to many developments in the field in the last few years. These market developments indicate a trend in the global hair transplant market. One such development of the market is mentioned below:
- In May 2019, BioGraft , a new technology in hair loss solutions, was launched by Bosley Inc. and Hair Club. This new technology meets the needs of both women and men. It blends both non-surgical solution for hair loss, Xtrands+ and Follicular Unit Extraction (FUE), advanced surgical hair restoration technique.
Some of the key market players of the global hair transplant market are
- Bosley Inc.
- L’Oreal SA
- Hair Transplant Center Turkey
- Allergan plc
- Restoration Robotics, Inc.
- Venus Concept
Global Hair Transplant Market: Growth Drivers
Rise in the Incidences of Alopecia to Bolster Demand in the Market
Hair transplant has come up as a popular way or solution for hair thinning and balding problems. It has garnered commercial interest as well. According to the findings of California-based National Alopecia Areata Foundation, nearly 6.8 million people in the US and around 147 million people worldwide already suffer from alopecia areata or will suffer from the same at some point of time in their lives. The global hair transplant market is likely to grow rapidly on the back of the rising incidences of alopecia. The medical term for hair thinning or balding is called alopecia.
In addition to stress, other factors that cause these problems are deterioration in the quality of water, genetics, illness, side effects of certain medications, and aging. As the number of people suffering from alopecia rises, the scope for the global hair transplant market is likely to widen over the tenure of assessment. In addition, growing fixation over physical appearance is another factor that is estimated to encourage the growth of global hair transplant market in forthcoming years.
Global Hair Transplant Market: Regional Outlook
The global hair transplant market is split into the leading regions of North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Considering geographical segmentation, it is estimated North America is likely dominate the market in the years to come. Increased media and celebrity influence together with augmented awareness about one’s physical appearance is likely to encourage growth of the market over the tenure of assessment.
North America hair transplant market is also driven by the high income of the people in the region, which makes hair transplant an affordable solution for hair thinning and balding.
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The global hair transplant market is segmented as:
- Follicular unit extraction (FUE)
- Follicular unit transplantation (FUT)
- Platelet rich plasma
- Stem cell therapy
- Laser therapy
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