NEWARK, Del, Dec. 14, 2022 (GLOBE NEWSWIRE) -- The hair restoration market revenues were estimated at US$ 4.9 Bn in 2021 and is anticipated to grow at a CAGR of 18.2% from 2022 - 2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach US$ 30.8 Bn.
Increased alopecia prevalence, rising global disposable income, and changing lifestyles among the global population are all driving market growth. This development could be attributed to the higher success rate of hair transplantation surgeries, as well as technological advancements in the field of less invasive hair replacement. Excessive cigarette and alcohol usage, as well as growing stress levels, are known to be major triggers for the condition.
Although the exact cause of the disease is unknown, a handful of cases have been linked to hereditary factors. Other variables that are predicted to stimulate the business include increased disposable income and an emphasis on aesthetics in development.
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The market is gaining pace as the success rate of therapies such as Follicular Unit Extraction (FUE) and Follicular Unit Transplantation (FUT) has grown and proven to be viable options for hair restoration. Furthermore, many hair stylists now blend these two treatments for the best aesthetic results. One of the key reasons for their popularity is that hair restoration methods have gotten less invasive in recent years. The MEA region can be projected to be the most lucrative region in this market during the forecast period, 2022- 2032.
Competitive Landscape
The growing number of brands offering cutting-edge technology Hair Restorations, continuous development of characteristics offering the best consumer experience and at prices suitable for different income groups, and a growing e-commerce sector all contribute to market growth. The key players such as Bernstein Medical, Milla Marie, Cole Hair Transplant Group, Lexington Intl., and Bosley
Some of the recent developments of key Hair Restoration providers are as follows:
- In May 2019, Hair Club and Bosley both reported the delivery of BioGraft. For a great change, the development enhancement combines meticulous and nonsurgical hair rebuilding. This new item shipment aided in the expansion of the company's hair relocation product portfolio. The company invests heavily in R&D to develop mechanically advanced products.
- In February 2018, Venus Concept announced the acquisition of NeoGraft Solutions' hair restoration business. Neograft was a hair restoration technology and topical product developer.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Hair Restoration market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by Procedure (Follicular Unit Extraction, Follicular Unit Transplantation), by Therapy (Low-level Laser Therapy, Stem Cell Hair Restoration, Platelet-rich Plasma), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Market Segments Covered in Hair Restoration Industry Analysis
By Procedure Type:
- Follicular Unit Extraction
- Follicular Unit Transplantation
By Therapy Type:
- Low-Level Laser Therapy (LLLT)
- Stem Cell Hair Restoration
- Platelet-Rich Plasma
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Market
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
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