The “Global Hair Restoration Market Size, Share & Trends Analysis Report 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global hair restoration market size is anticipated to reach USD 13.6 billion by 2028 and is expected to expand at a CAGR of 15.4%
Hair restoration technique which includes surgical as well as a non-invasive treatment option is an effective procedure to increase hair thickness, fill in a receding hairline, and treat baldness as well as severe alopecia.
According to the American Academy of Dermatology, androgenic alopecia is the most common cause of hair loss in both men and women. According to the American Hair Loss Association, 95 % of hair loss in men is caused by androgenetic alopecia and around 40% of men notice symptoms of baldness by the age of 40.
The market is currently witnessing a surge in treatment adoption due to high psychological stress, poor dietary habits, reduced nutritional levels with age progression, and increasing hormonal changes due to lifestyle shifts among the global population. This surge can also be due to the increased success rate of the transplantation procedures and technological advancement in the field of less invasive hair repair.
In the light of COVID-19, the market was hampered as the footfall of patient appointments for surgical Follicular Unit Extraction (FUE) or Follicular Unit Transplantation (FUT) treatments was temporarily suspended.
However since the government in many countries has allowed resuming elective surgical procedures, clinics have also started hair transplant procedures again and international organizations like the International Society of Hair Restoration Surgery (ISHRS) has set strict protocols for resuming hair restoration practices as well as offer patient guidance in finding hair repair clinics deemed.
Hair Restoration Market Report Highlights
- By procedure, the FUE segment held the largest market share in 2020 as it is a minimally invasive surgery with negligible pain, and has faster post-operative healing
- Based on the therapy, the platelet-rich plasma segment accounted for the largest revenue share in 2020 as these plasmas are rich in multiple growth factors and proteins that collectively stimulate, repair, and aid in wound healing and help in possible hair growth
- Asia Pacific dominated the market in 2020 owing to technological advancements and an increase in patients opting for procedures to improve aesthetic appearances
- In MEA, the market is bound to grow significantly during the forecast period. This is expected to be majorly contributed by the large population and rapid urbanization coupled with increasing awareness regarding the aesthetic procedure in this region
Market driver analysis
- Rising patient population suffering from alopecia
- Growing focus on aesthetics
- Technological Advancement for Hair Restoration products and therapies
Market restraint analysis
- High cost of Surgical Hair Restoration
- Absence of reimbursement options for cosmetic procedures
- Venus Concept
- Bernstein Medical
- Advanced Hair Studio
- Milla Marie
- Lexington International, LLC
- Cole Hair Transplant Group
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