Hair Transplant Market Analysis

Global Hair Transplant Market Overview

Hair Transplant Market Size was valued at USD 6.5 billion in 2021 and is projected to grow from USD 8.2 Billion in 2022 to USD 42.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 26.50% during the forecast period (2024 - 2030).Factors such as the rising number of people suffering from hair loss and the increasing number of surgical procedures are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The market's potential will expand as more people are expected to face hair loss in recent years. The immune system destroys the hair follicles in the condition known as alopecia areata, which causes hair loss. In this process, hair follicles from the donor site on the body are removed and implanted in the recipient site, the bald area. Various hair transplantation techniques, including follicular unit transplantation (FUT), follicular unit extraction (FUE), and combinations of FUT & FUE, are carried out to restore hair to bald areas. Although it is frequently used to treat male pattern baldness, hair transplantation can also be utilized to treat female population balding and hair thinning. Lower quality has been connected to this medical condition.

Numerous studies have also demonstrated a connection between hair loss and several chronic psychiatric conditions, such as substance misuse, depression, and anxiety. Over the years, the hair transplant industry has rapidly experienced a ground-breaking revolution. The market has seen various technological breakthroughs, from Follicular Unit Extraction (FUE) to classic Follicular Unit Transplantation (FUT). But the optimum transplantation technique currently is still up for debate among doctors. Additionally, there have been several breakthroughs in non-surgical methods and medical equipment for treating hair loss. Pharmaceutical firms are concentrating on R&D to introduce a successful medicine to treat hair loss. Technology has advanced steadily ever since robotic hair transplantation was first introduced.

Top clinics and transplantation institutes are working to make the process more sophisticated to produce successful treatment results. These initiatives are significantly aiding market expansion. Additionally, the frequency of chronic disorders like cancer, hyperthyroidism, and hypothyroidism is rising, which causes an increase in hair loss and drives the market's expansion. Chemotherapy, for example, treats cancer problems but results in hair loss. Hair transplant treatments are more necessary now than ever because of the surge in chemotherapies, which cause hair loss.

Hair transplant procedures have been added to Pristyn Care's list of aesthetic surgical operations. According to a press release from the company, Pristyn Care currently offers hair transplant, beard transplant, and brow transplant services in five Indian cities. Delhi NCR, Bangalore, Mumbai, Chennai, and Hyderabad are a few of these. By the end of 2023, it hopes to have expanded its services to five additional cities after a successful test phase that lasted the previous six months.

Hair Transplant Market Trends

• Technological Advancements in Robotic Hair Transplantation to boost market growth

Since the invention of robotic transplantation, technology has continuously improved. The rising number of transplantation centers and clinics is further increasing the technique's efforts to yield improved results for this technique to succeed. The implementation of robotic hair transplant surgeries will increase the footprint of the hair transplant market during the forecast period.

Due to recent technological advancements, a rapidly growing patient pool comprising mostly men suffering from alopecia can be successfully treated with various techniques. Rising awareness among patients has led to increased adoption, fueling the growth of the hair transplant market. Within emerging economies, an increase in disposable income combined with rising per-capita spending has been observed. Men and women are spending heavily on cosmetic procedures. This has led to a growing number of hair transplant surgeries. According to the American Society of Aesthetic Plastic Surgery, in 2018, the American population spent nearly USD 17 billion on surgical and non-surgical aesthetic procedures. Studies conducted by Kaya Limited indicated a strong potential for the market to expand in India owing to increasing disposable income with an aspirational middle-class population.

Hair transplantation is one of the most common surgeries that are performed on men on a scale. Androgenic alopecia is a regularly used term that denotes hair loss in men. According to studies conducted by the International Society of Hair Restoration Surgery (ISHRS), approximately 35 million men in the US are affected by a form of male pattern baldness every year. This increasing prevalence of hair disorders within the US will project a strong growth trend within the North American market. Additionally, launching novel products and techniques for magnetizing the population will aid the growth of the hair transplant market. According to ISHRS, an increase of 60% adoption 2014 of hair transplant surgeries has been observed due to the increasing prevalence of alopecia. It further states that more than 88% of the surgeries performed were on men. The increasing patient population and prevalence of androgenic alopecia will elicit tremendous growth to the hair transplant market CAGR globally in recent years.

To cater to the changing lifestyle of individuals, the rising perception of appearance and hair loss among the population and rising stress and workload rates among the general population is expected to trigger an increase in the hair transplant market revenue..

Hair Transplant Market Segment Insights

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The hair transplant market segmentation, based on surgical method, includes follicular unit transplantation, follicular unit extraction, follicular isolation technique, and robotic hair transplantation. The follicular unit extraction segment held the majority share in 2021 contribution to around ~56-59% in respect to the hair transplant market revenue. This is primarily owing to the rising public awareness of hair transplantation techniques. For instance, according to some studies, nearly two-thirds of American men will experience some form of hair loss by age 35, while more than 80% of the men will experience hair thinning of some kind by the time, they turn 50.

April 2021: A Hermest Hair Clinic-HHC announced that they offered expertise in hair transplantation services in Turkey. They recently announced they were launching their FUE method at a reasonable price, making it a cost-effective hair transplant clinic in Turkey for patients worldwide..

February 2020: Venus Concept Inc., a medical aesthetic technology company, announced that they received the CE Mark approval to market NeoGraft 2.0 in Europe. NeoGraft 2.0 is an automated hair transplant device that uses the follicular unit extraction (FUE) method for harvesting and implanting hair follicles.

Hair Transplant Surgery Insights

The hair transplant market data has been bifurcated by surgery into head hair transplant, eyebrow transplant, and frontal hairline lowering. The head hair transplant is expected to occupy the largest market share during the forecast period owing to the rising population, especially men, suffering from a wide range of hair losses, such as alopecia. Growing investments in automated robotic surgeries for transplantation technologies are expected to contribute to the segment's growth during the forecast period. For instance, Restoration Robotics announced the launching of their 9x ARTAS robotic transplant system.

April 2020: According to experts at the American Academy of Dermatology virtual meeting, there have been innovations in therapeutics that were aimed at slowing hair loss and increasing growth using new types of lasers and futuristic hair loss methods, which are expected to contribute to the hair transplant industry.

March 2020: Stemson Therapeutics announced that the company had raised more than USD 7.5 million through seed financing that Allergan Aesthetics, a medical aesthetics company, led. The company was increasing its funding for restoring human hair growth with an innovative approach by using the patient's cells to generate new hair follicles.

Additionally, frontal hair lowering is expected to occupy the second-largest market share during the forecast period. Factors such as the increasing prevalence of male pattern baldness is expected to widen the segmental growth. According to ISHRS, more than 2,221,191 hair restoration surgeries were performed globally. It was also observed that hair restoration procedures increased 7% from 2019 to 2021. The US is a huge contributor to segmental growth. According to the American Society of Plastic Surgery (ASPS), in 2019, 23,348 surgeries were performed in the US alone.

Hair Transplant Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific, and Rest of the World. Asia Pacific hair transplant market accounted for USD 2.9 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the increased number of surgeries performed in the region and increasing investments in hair transplantation systems' advancements.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

A renowned hair clinic in the UK, Este Medical Group, introduces the ground-breaking Sapphire hair transplant procedure. Regardless of the reason for the hair loss, this fantastic procedure is designed to assist both men and women refresh their hair. The experts at Este Medical Group describe the Sapphire hair technique as a minimally intrusive procedure. It depends on the employment of distinctive blades made from sapphire. Due to their accuracy, these blades can rapidly and smoothly produce small incisions in the scalp.

Figure 3: HAIR TRANSPLANT MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe hair transplant market accounts for the second-largest market share due to the availability of dermatologist clinics. The region is also home to many clinics specializing solely in hair transplant solutions. Also, advancements in the healthcare sector are expected to drive increased market growth. Further, the Germany hair transplant market held the largest market share, and the UK Hair Transplant market was the fastest growing market in the European region

The Asia-Pacific Hair Transplant Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to increased alopecia rates in the region and the rising number of hair transplant procedures. Additionally, increasing approval rates for advanced hair transplant procedures and rising penetration of international players within the region will increase market share. Moreover, China Hair Transplant market held the largest market share, and the India Hair Transplant market was the fastest growing market in the Asia-Pacific region

For instance, India Hair Transplant market is expected to contribute a wider share to the Asia Pacific market. Factors such as increasing approval for various hair transplant techniques and the existence of current hair transplant business are expected to drive market growth. Increasing consumer awareness in the region regarding male pattern baldness combined with rising concerns regarding appearance will aid a sustainable market growth.

Hair Transplant Key Market Players & Competitive Insights

Major market players are increasing their spending on R&D for introducing a wider product portfolio to cater to an extended consumer base. Market participants are also adopting increasing strategic growth by introducing key market developments such as increased product launches, mergers & acquisitions, rising investments and enabling a collaborative nature within their competitors. Competitors in the hair transplant industry are expected to offer cost-effective solutions for surviving in a highly competitive landscape.

Prominent players in the hair transplant industry are focused on conducting business on a regional or local scale to lower their production and operational costs. In recent years, hair transplant industry been successful in expanding their footprint by partnering with local vendors and suppliers. The hair transplant market major player such Allergan Plc (Ireland), Bernstein Medical (US), Bosley (US), GETFUE Hair Clinics Ltd (Turkey), Hair Restoration BlackRockHRBR (Turkey), and Hair Club (US), among others are working to expand the market demand by investing in research and development activities.

Allergen Plc, is a joint venture between Allergen and Piramal Healthcare Limited (Formerly known as Nicholas Piramal India Limited). Allergen is a biopharmaceutical company and has fast emerged as one of the leading players by launching various products and technologies for disorders dealing in glaucoma, dry eyes, infections, and inflammations. Allergen today is present in more than 100 countries and has a diverse USD 23 billion revenue. It is location in Dublin Ireland and spent more than USD 1.7 billion on R&D efforts in 2015. They are focused on strategic development of innovative and durable value-enhancing products within brands, biologics, and OTC portfolios.

Bosley was founded in 1974 by Dr. L. Lee Bosley and is one of the largest hair restoration practices in the United States. They are often recognized as the leader in the industry and for more than 45 years are creating continuous innovative practices in hair restoration for both men and women using their clinical resources and technologies. They offer a full spectrum of surgical and non-surgical hair restoration solutions for users wanting to restore their hair. Patients often receive a free consultation and a customized hair restoration plan for helping them address their restoration goals.

Key Companies in the Hair Transplant market includes

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  Allergan Plc (Ireland)

  
  


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  Bernstein Medical (US)

  
  


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  Bosley (US)

  
  


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  GETFUE Hair Clinics Ltd (Turkey)

  
  


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  Hair Restoration BlackRockHRBR (Turkey)

  
  


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  Hair Club (US)

  
  


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  Venus Concept (NeoGraft) (Canada)

  
  


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  Hairline International Hair and Skin Clinic (India)

  
  


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  Hair Transplant Centre Turkey (Turkey), among others

  
  

Hair Transplant Industry Developments

December 2019: Venus Concept Inc., announced that they received their CE Mark from DEKRA Certification B.V. and Therapeutic Goods Administration (TGA) in Australia for marketing and distributing NeoGraft. This is an automated hair transplant device that uses Follicular Unit Extraction (FUE) method for implanting hair follicles.

June 2022: UK Smiles announced that they were launching a new low-cost hair transplantation service in Istanbul.

Hair Transplant Market Segmentation

Hair Transplant Surgical Method Outlook

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  Follicular Unit Transplantation

  
  


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  Follicular Unit Extraction

  
  


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  Follicular Isolation Technique

  
  


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  Robotic Hair Transplantation

  
  

Hair Transplant Surgery Type Outlook

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  Head Hair Transplant

  
  


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  Eyebrow Transplant

  
  


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  Frontal Hairline Lowering

  
  

Hair Transplant Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America