The global hair transplant market accounted to US$ 5,272.1 Mn in 2017 and is expected to grow at a CAGR of 23.6% during the forecast period 2018 – 2025, to account to US$ 28,627.6 Mn by 2025.
Hair transplants in men are associated with male-pattern hair loss. However, in the demand for hair transplant procedures in women has increased over the past few years. Hair loss in women expresses in different patterns, generally is more diffuse as compared to men hair loss pattern and it can occur at any age. The increasing number of women with diffuse hair loss and hair thinning also is expected to propel the growth of the global hair transplant market. According to the International Society of Hair Restoration Surgery, in the US nearly. 21 million women suffer from hair loss which is nearly 40% of all the hair transplant patients.
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The key players operating in the field of hair transplant market worldwide include 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.
The global hair transplant market is a mature market in the developing countries as well as in developing economies worldwide. The advancements in hair transplant procedures such as follicular unit extraction (FUE) and follicular unit strip surgery (FUSS) in the recent years are expected to bolster the market growth. Among the type of procedures, the demand for the hair transplant is significantly high for FUE, followed by FUSS. In FUE technique each hair graft is removed one by one from the donor site using a punch tool. The procedure is performed to restore the smaller area (number of grafts) compared to the FUSS method. Furthermore, declining cost of procedures can be another factor which likely to drive the growth of the hair transplant market during the forecast period.
Increasing number of hair transplant surgery in women is driving the market for hair transplant over the forecast period.
The market for hair transplant is well established in the region of North America, owing to the awareness regarding medical practices and technological developments in the hair transplant. Various market players have been focusing towards shifting their customer base in North America. However, in Middle East & Africa, Turkey is one of the most popular destinations with affordable price ranges and skillful doctors for hair transplantation. The hair restoration industry has grown at a higher pace in the past decade in the country. Cheap hair transplant surgery is one of the major factor that bring visitors to Turkey. The recent advancements in FUE techniques have improved the process and brought the costs down in the country. Besides the cost, the doctor decides on the patient’s condition to decide which method is the most effective. The FUE is recommended for patient who had a hair transplantation before or for those with tight scalp.
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Product launches and approvals were observed as the most adopted strategy in global hair transplant industry. Few of the recent product launches and approvals made by the players are listed below;
2018: In March, 2018, HairMax received ANVISA approval for laser devices. Also, Restoration Robotics Received US FDA 510(k) clearance for implantation function.
2016: In February, 2016, Hair restoration leader, capillus launches newest FDA-cleared solution for hair loss: capillus202 mobile laser therapy cap.