Hair Transplant Market flourishes in the US due to High Acceptance Among the Customers

Publisher: The Insight Partners

The hair transplant market is estimated to account for US$ 28,627.6 Mn by the end of 2025, escalating at a CAGR of 23.6% during the forecast period from 2018 to 2025, rising from US$ 5272.1 Mn in 2017. The market for hair transplant consists of well-recognized organizations as well as emerging companies namely; Cole Instruments Inc., CAPILLUS, LaserCap Company, Apira Science, Harris FUE Instruments, HairMax Inc., THERADOME, FueInstrument, Shaanxi Xingmao Industry Co., Ltd, and Restoration Robotics, Inc. among others.

North America is anticipated to hold significant share in the global hair transplant market, owing to factors such as government initiatives, investments made by the major companies, and advancements in hair transplants technology, coupled with high acceptance among the customers especially in the US and Canada. The demand for hair transplant is anticipated to increase at a considerable rate in Middle East & Africa (MEA) during the forecast period, owing to increasing demand in Turkey and other Middle East countries. Turkey is one of the most popular destinations in MEA region offering hair transplant at affordable rates along with presence of skillful doctors. The availability of hair transplant procedure at a cheap rate is another factor driving the growth of the market in Turkey.

On the basis of procedure, the global hair transplant market is segmented as surgical and non-surgical. The surgical procedure segment is further categorized as, follicular unit strip surgery (FUS), follicular unit extraction (FUE) and other on the surgical procedures. Based site of implant, the market is segmented as, scalp, facial, chest, and others. The facial segment is further classified as, eyebrow, beard and eyelash. Based on therapy, the global hair transplant market is segmented as, platelet rich plasma (PRP), laser cap and revage 670 laser.

The growth of the hair transplant market can be attributed to the rise in the number of hair restoration procedures among men. According to the International Society of Hair Restoration Surgery, the percentage of men undergoing hair transplant surgery increased from 84.7% in 2014 to 85.7% in 2016. In addition, there has been a rise in the number of hair restoration procedures globally. Furthermore, improvement in hair transplant technologies is expected to offer wide growth opportunities for the players operating in the hair transplant market during the forecast period.Strategic approaches by major players such as geographical expansions, new product launches, partnerships, and collaborations in the market also are expected to accelerate the market growth. For instance, in March 2018, HairMax Inc. received ANVISA approval for its laser devices, which has been beneficial for the company in expanding its product offering. Such approvals increase the commercial availability of the product and thus bolster the market growth.