Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
Market CAGR for hair restoration services is being driven by the rise in the incidence of androgenetic alopecia. A surgical treatment called hair restoration is performed to cure alopecia, or baldness. It is a cosmetic surgery used on both men and women who experience substantial hair loss, thinning hair, or bald areas. Men are more likely than women to experience hair loss and baldness, primarily due to hereditary and ageing factors.
Additionally, as new trends and technologies have emerged over time, the market for hair restoration services has become more profitable and effective. For instance, the ARTAS robotic process is a cutting-edge technology that is being developed with top researchers and doctors in the field of hair transplantation. Modern robotic technology is used by the system to help doctors with challenging manual tasks that call for repeated and precise motions and raise the possibility of human error. Another novel technique that has been gaining acceptance in the industry for hair restoration services is hair cloning.
An efficient, minimally invasive hair growth technique that doesn't require maintenance after surgery is made possible by hair cloning.
The population's changing lifestyles, rising expendable income, and rising alopecia prevalence are all propelling market growth. Technology developments in the area of less invasive hair restoration as well as the improved success rate of hair transplantation procedures may be influencing this growth. The condition is believed to be largely triggered by changes in lifestyle, including excessive alcohol and cigarette use and high levels of stress. Genetic factors have been linked to a number of occurrences, despite the fact that the exact aetiology of the disease is unknown.
For instance, a Forbes article from 2019 claims that 5% of influencers who advocate services or products are responsible for 45% of social influence, which will further aid industry expansion. Additionally helping the business are technology developments like exploratory treatments with stem cells and light or laser therapy. Thus, result in driving the Hair Restoration Services market revenue.
The Hair Restoration Services market segmentation, based on Service Type includes Follicular Unit Extraction, Follicular Unit Transplantation, Laser Treatment, Follicular Unit Strip Surgery, and Others. The follicular unit extraction segment dominated the market. Due to its reduced invasiveness compared to Follicular Unit Transplantation (FUT), nearly undetectable scarring, quicker recovery, and improved patient comfort, FUE transplantation has become more and more popular.
The Hair Restoration Services market segmentation, based on Gender, includes Male, and Female. The male category generated the most income. Androgenetic alopecia, a frequent disorder where excessive male hormones in hair follicles prevent hair development on the scalp, is another name for male-pattern baldness.
Figure1: Hair Restoration Services Market, by Gender, 2022&2032 (USD Billion)
Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
The Hair Restoration Services market segmentation, based on Service Provider includes Hospitals, Clinics, and Surgery Centers. The clinics segment dominated the market. These facilities are well-equipped with the tools needed to perform various hair restoration procedures, including follicular unit extraction (FUE), follicular unit transplantation (FUT), and laser therapies.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Hair Restoration Services market area will be dominant, due to the region's rising need for hair restoration services, expanding emphasis on skincare, rising cosmetics use, and quickly changing lifestyles of people.
Further, the major countries studied in the market report are The US, Canada, France, the UK, Italy, German, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: HAIR RESTORATION SERVICES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
Europe Hair Restoration Services market accounts for the second-largest market share due to the number of product releases and market expansions are also increasing as a result of the growing demand for hair transplant surgeries and the existence of numerous regional market players. Further, the German Hair Restoration Services market held a dominant market share, and the UK Hair Restoration Services market was the European region's fastest-growing market.
The Asia-Pacific Hair Restoration Services Market is anticipated to see the fastest CAGR between 2023 and 2032. The development of technology and the rise in people choosing to undergo operations related to the hair restoration market are responsible for this expansion. Moreover, China’s Hair Restoration Services market held a dominant market share, and the Indian Hair Restoration Services market was the Asia-Pacific region's fastest-growing market.
Leading market players are putting a lot of money on R&D to increase their product lines, which will stimulate the demand for hair restoration services to develop. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other organizations. To grow and endure in an increasingly competitive and challenging market environment, Hair Restoration Services industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the Hair Restoration Services industry to develop market sector and provide benefits to customers. In recent years, the Hair Restoration Services industry has provided some of the most important benefits for medicine. Major players in the Hair Restoration Services market, including NeoGraft, Lexington Intl., LLC, National Hair Centers, Elite Hair Restoration, Direct Hair Implantation International, and others, invest in operations for research and development in an effort to improve market demand.
In Bosley Medical Institute v. Kremer, No. 04-55962, the Ninth Circuit of the United States Court of Appeals upheld, overturned, and remanded the decisions of the Southern District of California United States District Court, holding that the defendant, Michael Kremer, could not be held accountable for trademark infringement or dilution for his use of the Bosley Medical Group's name in developing a website that was critical of the company's business practices. In May 2019, Bosley made the BioGraft launch announcement.
Patients around the country can now access the ground-breaking technique, which combines surgical and noninvasive hair restoration for a stunning transformation.
Venus Concept Ltd., a privately held company that leads the world in revolutionary aesthetic technology, is happy to announce that it has reached a deal to buy NeoGraft Solutions' hair restoration division ("NeoGraft"). In terms of topical products and hair restoration technologies, NeoGraft is a market leader. In the aesthetics sector, NeoGraft has established a strong reputation for offering a fantastic substitute for common hair transplant surgery. In 2018, the purchase of the hair restoration division of NeoGraft Solutions was announced by Venus Concept.
Key Companies in the Hair Restoration Services market include
| Report Attribute/Metric | Details |
| Market Sizeb2023 | USD 9.5 Billion |
| Market Size 2024 | USD 9.57 Billion |
| Market Size 2032 | USD 14.61 Billion |
| Compound Annual Growth Rate (CAGR) | 4.90% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Service Type, Gender, Service Provider, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, Canada, UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â NeoGraft, National Hair Centers, Direct Hair Implantation International, Lexington Intl., LLC, iGrow Laser, Elite Hair Restoration, Bosley Inc, Cole Hair Transplant Group, Bernstein Medical |
| Key Market Opportunities | ·        Market expansion is being driven by population changes in lifestyle. |
| Key Market Dynamics | ·        Rising use of hair transplants and the incidence of different dermatological conditions that cause hair loss |
Hair Restoration Services Market Highlights:
Frequently Asked Questions (FAQ):
In 2023, the market for hair restoration services was estimated to be worth USD 9.5 billion.
A CAGR of 4.90% is forecast for the market's growth between 2024 and 2032.
North America held the biggest market share globally.
The leading companies in the industry include NeoGraft, Lexington Intl., LLC, National Hair Centres, Elite Hair Restoration, and Direct Hair Implantation International.
Market share in 2022 belonged to the Follicular Unit Extraction sector.
The market's largest share belonged to the male sector.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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