Hair Restoration Market

The global hair restoration market size was valued at USD 4.3 billion in 2020 and is expected to expand at a CAGR 15.5 % during the forecast period, 2021–2028. The growth of the market is attributed to wide prevalence of androgenetic alopecia.

Get Free Sample Report

A surgical operation in which hair follicle-containing skin on the scalp is moved to a bald or balding portion of the scalp so that hair can develop there, is known as hair restoration. Alopecia is a hair loss disorder that this condition is majorly linked to ageing and hormone imbalances as possible causes of the disorder. Changes in lifestyle, excessive cigarette and alcohol consumption, and rising stress levels can be a few factors for causing hormone imbalance. Although the specific origin of the disease is unknown, various experts pointed out that genetic factors could play a major role for such disorder and have been linked to a number of instances. Thyroid problems or a drop in oestrogen levels in menopausal women can cause hair loss too. Androgen hormones such as testosterone and dehydroepiandrosterone are important hormones that can affect hair growth if they are out of balance. Thyroid illness affects an estimated 20 million Americans and up to 60% of the persons with thyroid disease are ignorant of their condition. Furthermore, gender has an impact on sickness susceptibility. Androgenetic alopecia is responsible for around 95% of hair loss in men, according to the American Hair Loss Association. It is mainly due to the fact that men have congenital sensitivity to dihydrotestosterone and a testosterone derivative that cause hair loss among men.

Elective operations such as hair restoration were among the most severely impacted sector during the outbreak of the COVID-19 pandemic. Non-COVID related surgical procedures were put on hold and delayed as the world was facing immediate threat of the virus spread. Several dermatological clinics faced unexpected issues due to a lack of patient visits and decreased income. Hair restoration businesses are reopening in most nations because to the simplicity of lockdowns; yet, adhering to tight regulations has increased the costs for numerous hair professionals.

Market Trends, Drivers, Restraints, and Opportunities

• Rising disposable income and concern focus on aesthetics appeal related to maintenance of hair looks are expected to fuel the market.
• Integration of new advanced techniques for hair restoration procedures has offered less intrusive and easy transplant of hair in recent years. This is a key factor drives the market.
• Rise in consumer knowledge of alopecia therapy alternatives is expected to propel the market in the coming years.
• Hair transplantation is a time-consuming treatment, which require the patient to take greater care and attention of hair maintenance. This acts as a key hurdle that can hamper the market growth.
• Technological advancements such as experimental stem cell treatment, development of light and laser therapy, along with wide platform for social media advertisement are major factors creating lucrative opportunities for the market expansion.

Scope of the Report

The report on the global hair restoration market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Platelet-rich plasma segment to expand at a considerable CAGR

On the basis of therapies, the hair restoration market is segmented into stem cell hair restoration, platelet-rich plasma, and low-level laser therapy (LLLT). The platelet-rich plasma segment is projected to expand at a considerable CAGR during the forecast period. Plasma-rich protein is reported to strengthen a weak donor, enhance transplanted graft yield rate, lower graft transaction rate, and promote wound healing in both the donor and recipient areas. On the other hand, the LLLT segment is anticipated to account for a major market share during the forecast period as it is less intrusive, safe, and tolerant than hair transplant surgery. Photons are irradiated into the scalp tissues using the LLLT technology, which are subsequently absorbed by weak cells to promote hair growth.

Follicular unit extraction segment to hold significant share of the market

In terms of procedures, the market is divided into follicular unit transplantation and follicular unit extraction. The follicular unit extraction (FUE) segment is expected to hold significant share of the market ascribed to rising demand for invisible scarring, which offer faster result to recuperate and is more comfortable for the patient. Moreover, the segment growth is further attributed to the growing success rate of FUE treatments and the technique's less invasive nature. However, the follicular unit transplantation segment is anticipated to account for a key market share as it is one of the most popular methods that provides excellent hair restoration treatments.

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the hair restoration market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to technical advancements and increasing number of people selecting for procedures in the hair restoration industry. The large section of the population in the region has a high level of knowledge about aesthetic operations and the number of persons choosing for cosmetic procedures has increased significantly over the years. However, the market of Middle East & Africa is anticipated to expand at a rapid pace during the forecast period due to the region's growing urbanization and wide occurrence of hair loss disorder to a large number of people in the region.

Get Free Sample Report

Segments

• Stem Cell Hair Restoration
• Platelet-rich Plasma
• Low-level Laser Therapy (LLLT)

• Follicular Unit Transplantation
• Follicular Unit Extraction

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

• Cole Hair Transplant Group
• Venus Concept
• Bernstein Medical
• Bosley
• The Harley Street Clinic
• Advanced Hair Studio
• Milla Marie
• Lexington Intl., LLC

Competitive Landscape

Key players competing in the global hair restoration market are Cole Hair Transplant Group; Venus Concept; Bernstein Medical; Bosley; The Harley Street Clinic; Advanced Hair Studio; Milla Marie; and Lexington Intl., LLC.

The market competition and its competitive environment is increasingly bolstered by the availability of high quality of service and experience in performing difficult hair transplant surgeries by players. Only a few businesses make transplant devices while others provide topical treatments such as gels, serums, and lotions. Some of these key players have widely adopted various business development strategies such as merger or acquisition, partnership, and collaboration to expand their consumer base globally. For instance, Venus Concept announced the acquisition of NeoGraft Solutions in February 2018. The deal aimed at wide access of the former company to Neograft for expansion of hair restoration technology and topical products for hair transplant and restoration.