Newark, Aug. 07, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global hair transplant market is expected to grow from USD 12.42 Billion in 2023 to USD 47.49 Billion by 2033, at a CAGR of 14.35% during the forecast period 2024-2033.
This growth is attributed to the surge in socio-economic development, the growing influence of social media, the surge in awareness towards one’s appearance and the focus on many other grooming standards, which are some of the factors driving the hair transplant sector.
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Competitive Strategy
To enhance their market position in the global Hair Transplant market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In January 2024: Hair of Istanbul, a leading organization in the hair transplantation sector, plans to open its new office in City Walk, Dubai, by late February this year. This expansion shows the growing footprint of the clinic factor, which eventually helped the organization gain a share of the Hair Transplant market as it is bringing its services to the global audience.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 14.35% |
| 2033 Value Projection | USD 47.49 Billion |
| Market Size in 2023 | USD 12.42 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Procedure, FUT, Gender and Service Provider |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Hair Transplant Market Growth Drivers | Surge in the hair transplant procedures |
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Market Growth & Trends
Recently, it has been observed that there is a significant increase in the number of hair transplant procedures. These procedures provide benefits like a young appearance, confidence boost, etc. These procedures are safe, and the chemicals used do not harm individuals. Hence, the demand for hair transplant procedures is growing. Also, there is a surge in work pressure, improper eating habits, heredity, stress, exposure to chemicals, etc., leading to hair falls and decreased hairline. Also, there is a growing influence of social media, a surge in celebrity influence, societal pressure, and rapid urbanization. All these factors motivate individuals to go for hair transplant procedures to improve their physical appearance. All these factors will eventually drive the hair transplant market. Based on one of the studies, over 34% of elective hair transplant procedures are done by people looking for an edge. At present, over 80% of men and 25% of women are suffering from genetic hair loss. In 2021, around 3.4 million hair transplant transplants were performed worldwide, and over 1 million hair procedures happened in Turkey. Based on many estimates, the Turkish hair transplant sector will earn around USD 1.8 Billion in 2021. Also, the number of hair transplant procedures has increased significantly recently. Also, it has been observed that the most expensive countries in this sector are Canada and Australia, and this can be said in terms of respective prices per graft of USD 7 and USD 5.5, respectively. On the contrary, the hair transplant procedures happening in Turkey are comparatively cheaper, with a price of around USD 1.07 USD. The thick and full head of hair symbolizes youth and beauty in this modern world. Thinning and balding show illness and ageing, and there is a significant amount of negative emotional impact due to hair loss. Hair loss can massively impact self-confidence in the workplace, social life, and relationships. It has been observed that people who suffer from hair loss are having a feeling of vulnerability, shame and embarrassment. These negative feelings can broadly influence the desire to look for a hair transplant or any other sort of treatment to hide the effect of hair loss. It has been observed that around 95% of hair transplant patients experience a positive emotional impact after they are done with a hair transplant.
Key Findings
• In 2023, the FUE(Follicular Unit Extraction) segment dominated the market with the largest market share of 65.82% and market revenue of USD 8.18 Billion.
The procedure segment is divided into FUE (Follicular Unit Extraction), FUT (Follicular Hair Transplantation) and Others (FUE+FUT). In 2023, the FUE(Follicular Unit Extraction) segment dominated the market with the largest market share of 65.82% and market revenue of USD 8.18 Billion. This significant market share is attributed to its less invasive procedure.
• In 2023, the Male segment dominated the market with the largest market share of 82.11% and market revenue of USD 10.20 Billion.
The gender segment is divided into male and female. In 2023, the Male segment dominated the market with the largest market share of 82.11% and market revenue of USD 10.20 Billion. This market share is attributed to the most evident signs of hair loss, which is more common among men.
• In 2023, the Dermatology Clinics segment dominated the market with the largest market share of 61.11% and market revenue of USD 7.59 Billion.
The service provider segment is divided into hospitals and dermatology clinics. In 2023, the Dermatology Clinics segment dominated the market with the largest market share of 61.11% and market revenue of USD 7.59 Billion. This market share is attributed to a large number of hair transplantation procedures that happen in clinics.
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Regional Segment Analysis of the Hair Transplant Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Hair Transplant industry, with a market share of 41.53% and a market value of around USD 5.16 Billion in 2023. This market share is attributed to a greater focus on skincare and proper hair care and a surge in cosmetic use due to increased awareness of physical appearance. Moreover, the cost of treatment in the region is high, but the disposable income of the people has also increased.
Key players operating in the global Hair Transplant market are:
• Hair of Istanbul
• Abbvie Inc.
• Bosley
• GETFUE Hair Clinics
• Bernstein Medical
• ILHT Dubai
• HRBR
• Acibadem Healthcare Group
• Venus Concept
• Tempus Hair Restoration of Florida
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Hair Transplant market based on below mentioned segments:
Global Hair Transplant Market by Procedure:
• FUE(Follicular Unit Extraction)
• FUT(Follicular Hair Transplantation)
• Others(FUE+FUT)
Global Hair Transplant Market by Gender:
• Male
• Female
Global Hair Transplant Market by Service Provider:
• Hospitals
• Dermatology Clinics
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About the report:
The global Hair Transplant market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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