Selbyville, Delaware, Oct. 26, 2020 (GLOBE NEWSWIRE) --
According to latest report “Hair Transplant Market by Method (Follicular Unit Extraction [FUE], Follicular Unit Transplantation [FUT]), Product (Gel, Serum, Drugs, Multivitamins), Therapy (Platelet Rich Plasma, Stem Cell Therapy, Laser Therapy), Gender (Male, Female), Service Provider (Hospitals, Clinics, Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of hair transplant will cross $40.1 billion by 2026.
Rise in number of people suffering from hair loss in Middle East and Africa region will act as a high impact rendering factor for the market growth. Increase in number of people suffering from hair loss in the Middle Eastern countries has resulted in more young men opting for hair transplant procedures. The major factors contributing to male pattern baldness are stress, genetics, illness or medication, climatic and water condition along with physiological factors such as malnutrition and ageing. According to the recently published article, around 60% of the male population in Middle East region is expected to experience hair loss in their lifetime, as compared to global average of 40%.
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Recent technological advancements, automation and cost-effectiveness of hair transplant procedure will drive the market value. Rising demand for single session hair restoration surgeries coupled with increase in awareness regarding physical appearance will further propel the market revenue.
Follicular unit extraction (FUE) segment in the hair transplant market valued more than USD 3,270 million in 2019 impelled by the rising number of men suffering from pattern baldness and growing adoption of the technologically advanced hair transplant methods by the surgeons. Furthermore, growing prevalence of alopecia cases coupled with increase in aging population base across the globe will fuel the segment growth in the coming years.
The hair transplant market for drugs segment is predicted to witness 25.5% growth rate from 2020 to 2026. The enhancement in alopecia treatment is mainly driven by the growing demand for hair loss treatment drugs that have shown higher effectiveness along with minimal side effects. In addition, increasing investment made by the leading players to develop novel hair transplant drugs will further boost the market expansion.
Platelet rich plasma (PRP) therapy in the hair transplant market accounted for USD 358 million in 2019. PRP is considered as one of the innovative and technological advanced hair transplant therapies for the patients suffering from hair thinning. PRP contains more than 20 growth factors that are considered exceptional for hair regrowth by stimulating the new hair cells and hence, this procedure will showcase higher adoption than other therapies.
Hair transplant market from male patient segment is estimated to expand at 25.8% CAGR through 2026 owing to the rising male population suffering from several hair loss disorders due to genetic predisposition along with external factors such as sub-optimal diet and unhealthy lifestyle. As per the recent research article, around 25% men with hereditary hair loss problems start losing their hair before the age of 21. Hence, increase in incidence of hair loss among young population, rising disposable income and growing awareness pertaining to hair transplant products will influence the industry growth positively.
Clinics segment revenue exceeded USD 5,410 million in 2019, led by the cost-effectiveness and economical outreach of hair restoration surgeries in specialty clinics. Enhanced post-operative care and consulting in the specialty clinics will augment the number of hair transplant procedures in the setting.
China hair transplant market is poised to register growth of 26% till 2026, on account of the recent technological advancements in developing novel therapies, growing prevalence of hair loss among the young and mid-age population and rising disposable income. Increase in number of multispecialty healthcare facilities offering hair transplant surgeries will spur the regional market demand over the forecast period.
Some of the major players operational in the hair transplant market are Allergan Plc, Bernstein Medical, Bosley, GETFUE Hair Clinics Ltd., Hair Restoration BlackRockHRBR, Hair Club, Venus Concept (NeoGraft), Hairline International Hair and Skin Clinic, Hair Transplant Centre Turkey, Hair Transplants of Florida, Cole Instruments Inc., and among others. These companies have implemented several strategic initiatives such as acquisitions and product launches to maintain competitive edge over other competitors in the market.
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Table of Contents (ToC) of the report:
Chapter 3. Hair Transplant Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls & challenges
3.4. Growth potential analysis
3.4.1. By method
3.4.2. By product
3.4.3. By therapy
3.4.4. By gender
3.4.5. By service provider
3.5. COVID-19 impact analysis
3.6. Porter’s analysis
3.7. Competitive landscape, 2019
3.7.1. Strategy dashboard
3.8. PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.