Hyderabad, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Hair Restoration Services Market Report (2023-2028),” the market is estimated at USD 6.34 billion in 2023. It is expected to register a CAGR of 8.96% during the forecast period.
The COVID-19 pandemic emphasized the importance of personal appearance and grooming. There has been an increased demand for hair restoration procedures, particularly hair transplant surgeries, with people seeking to improve their appearance and confidence. Several studies have reported that hair loss was a major side effect of COVID-19, impacting the growth of the market studied. The crucial factors propelling the growth of the hair restoration market are the increasing popularity of hair transplants and the increasing prevalence of various forms of dermatological disorders leading to hair loss.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 6.34 billion |
| Market Size (2028) | USD 9.74 billion |
| CAGR (2023-2028) | 8.96% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The increasing popularity of hair transplants. |
| The increasing prevalence of various forms of dermatological disorders leading to hair loss. |
Who are the Top Companies in the Hair Restoration Services Market?
The global hair restoration services market is fragmented in nature, owing to the presence of many companies operating globally as well as regionally.
The noteworthy players in the global hair restoration services market are:
- Bernstein Medical
- Cole Hair Transplant Group
- Elite Hair Restoration
- Aderans (Hair Club)
- Hairline International Hair and Skin Clinic
- Apira Sciences Inc. (iGrow Laser)
- Lexington Intl. LLC
- Illumiflow
- National Hair Centers
- NovaGenix
- Theradome
- Venus Concept
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Key Highlights from the Hair Restoration Services Market Report:
Scalp Segment to Record Significant Adoption
- The scalp segment is anticipated to account for a major market share during the forecast period. The target population for this segment involves men suffering from pattern baldness, women with thinning hair, and victims of scalp or burn injuries.
- Due to the increasing popularity of the scalp treatment segment, the market players are planning to increase their market share and are coming up with innovative products and seeking approvals.
China Expected to Hold the Major APAC Share
- North America is projected to hold a significant share of the hair restoration market due to the presence of a large target population base in this region and technologically advanced clinics. The number of hair transplants is anticipated to rise in the current year as the COVID restrictions have been lifted, which is expected to drive the growth of the hair restoration market during the forecast period.
- The mounting number of hair transplant surgeries and the dominance of many market players in the region are also giving rise to the number of product launches and expansions in the market.
What are the Latest Developments in the Hair Restoration Services Market?
- In February 2023, HairClub extended its facility in Florida, United States, for residents seeking hair loss solutions.
- In April 2022, HermestHair Clinic (HHC) introduced cost-effective and unique follicular unit extraction (FUE) method service for hair transplants in Turkey.
Mordor Intelligence has Segmented the Hair Restoration Services Market Based on Recipient Area, Treatment, End-user, and Geography:
- By Recipient Area
- Scalp
- Non-scalp
- By Treatment
- Follicular Unit Extraction (FUE)
- Follicular Unit Transplant (FUT)
- Laser Therapy
- Stem Cell Therapy
- Other Treatments
- By End-user
- Hospitals
- Clinics
- Other End-users
- By Geography
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- South Africa
- GCC
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Hair Restoration Services Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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