Hair Transplant Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Hair Transplant Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Hair Transplant Global Market Report 2024, The hair transplant market size has grown exponentially in recent years. It will grow from $7.24 billion in 2023 to $8.81 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The  growth in the historic period can be attributed to increased prevalence of hair loss, medical tourism for hair restoration, stress and lifestyle factors, improved patient outcomes, cultural perception of beauty, men’s grooming trends.

The hair transplant market size is expected to see rapid growth in the next few years. It will grow to $18.07 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to expanding aging population, acceptance of non-surgical options, social media influence on beauty standards, broader accessibility to healthcare services, regulatory support and standardization. Major trends in the forecast period include technological advancements, demand for non-invasive options, customization in hairline design, advanced imaging and planning, stem cell and regenerative therapies.

The increasing number of people suffering from hair loss is expected to propel the growth of the hair transplant market going forward. Hair loss, also known as alopecia, is a condition where hair loss or gradual thinning of hair is caused by an interruption in the body’s cycle of hair production. A hair transplant is a medical technique that provides a hairline that appears completely natural, as the appearance and texture of the donor’s hair match the existing hair perfectly, thus increasing the need for a hair transplant. For instance, in 2023, according to Scandinavian Biolabs, a Denmark-based personal care products manufacturing company, the number of Americans using hair growth products is expected to be 12.94 million in 2024. Furthermore, in April 2022, according to the International Society of Hair Restoration Surgery (ISHRS), a US-based non-profit medical organization responsible for hair loss treatment and restoration, the market size of the hair plantations, effective treatment for many types of hair and scalp problems had increased by 64% from 2014 to 2021 and now totaled $ 6.5 billion. In addition, 87% of its patients are men, and 13% of hair transplant patients are female. Therefore, the increasing number of people suffering from hair loss is driving the growth of the hair transplant market.

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The hair transplant market covered in this report is segmented –

1) By Product: Gel, Serum, Drugs, Multivitamins, Other Products
2) By Procedure: Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE), Combination of FUT and FUE, Other Procedures
3) By Therapy: Platelet-Rich Plasma Therapy (Prp), Stem Cell Therapy, Laser Therapy
4) By Service Provider: Hospitals, Dermatology Clinics, Trichology Clinics, Surgical Centers

Product innovations are a key trend gaining popularity in the hair transplant market. Major companies operating in the hair transplant industry are focused on developing new solutions to strengthen their position in the market. In April 2022, HHC (Hermest Hair Clinic), a Turkey-based clinic that offers hair transplantation services, launched a unique FUE method of hair transplantation to make it affordable for patients worldwide. HHC, with the highest survival rate of 99% with unique FUE, offers proficient services and cost-effective deals for its clients globally.

The hair transplant market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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