Newark, Aug. 07, 2024 (GLOBE NEWSWIRE) — According to the report published by The Brainy Insights, the global hair transplant market is expected to grow from $12.42 billion in 2023 to $47.49 billion by 2033, with CAGR of 14.35 % during the forecast period 2024-2033.
This growth is attributed to the boom in socioeconomic development, increasing influence of social media, increasing awareness about one’s appearance and focus on many other grooming standards, which are some of the factors driving the hair transplant sector.
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Competitive Strategy
To strengthen their market position in the global Hair Transplant market, key players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, partnerships and collaborations.
• In January 2024: Hair of Istanbul, a leading hair transplant organization, plans to open its new office in Dubai’s City Walk by the end of February this year. This expansion shows the growing footprint of the clinic factor, which has ultimately helped the organization gain a share in the Hair Transplantation market as it brings its services to the global audience.
Report scope and segmentation –
| Report Coverage | Details |
| Prognostic period | 2024-2033 |
| Forecast CAGR | 14.35% |
| View value 2033 | US$ 47.49 billion |
| Market size in 2023 | $12.42 billion |
| Historical Evidence | 2020-2022 |
| Number of pages | 238 |
| Report Coverage | Revenue forecast, company profiles, competitive landscape, growth rates and latest trends |
| Covered sections | Process, FUT, Gender and Service Provider |
| Covered Areas | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. In addition, the regions are further broken down at the country level. |
| Hair Transplant Market Growth Drivers | Increase in hair transplant procedures |
Browse Detailed Research Report Summary with TOC:
Market Development & Trends
Recently, it has been observed that there is a significant increase in the number of hair transplant surgeries. These procedures provide benefits such as youthful appearance, boosting self-confidence, etc. These procedures are safe and the chemicals used do not harm people. Hence, the demand for hair transplant procedures is increasing. Also, there is an increase in work pressure, improper eating habits, heredity, stress, exposure to chemicals, etc., which leads to hair fall and receding hairline. Also, there is a growing influence of social media, an increase in celebrity influence, social pressure and rapid urbanization. All these factors motivate people to go for hair transplant procedures to improve their natural appearance. All these factors will ultimately 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 advantage. Currently, over 80% of men and 25% of women suffer from genetic hair loss. In 2021, approximately 3.4 million hair transplants were performed worldwide and over 1 million hair procedures were performed in Turkey. Based on many estimates, the Turkish hair transplant sector will earn around $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 field are Canada and Australia, and this can be said in terms of the respective prices per graft of 7 USD and 5.5 USD, respectively. In contrast, hair transplant procedures done in Turkey are comparatively cheaper, priced around USD 1.07. A thick and full head of hair symbolizes youth and beauty in this modern world. Thinning and baldness indicate disease and aging, and there is a significant amount of negative emotional impact due to hair loss. Hair loss can greatly affect confidence in the workplace, social life and relationships. It has been observed that people suffering from hair loss have a feeling of vulnerability, shame and embarrassment. These negative feelings can widely influence the desire to seek a hair transplant or any other type of treatment to hide the effect of hair loss. It has been observed that approximately 95% of hair transplant patients experience a positive emotional impact after hair transplantation.
Key findings
• In 2023, 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, 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 the less invasive procedure.
• In 2023, Men’s segment dominated the market with the largest market share of 82.11% and market revenue of USD 10.20 billion.
The gender section is divided into male and female. In 2023, the men’s 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 more obvious signs of hair loss, which is more common in 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 providers 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 $7.59 billion. This market share is attributed to a large number of hair transplant procedures performed in clinics.
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Regional Segment Analysis of Hair Transplant Market:
• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region emerged as the largest market for the global Hair Transplantation industry, with a market share of 41.53% and a market value of approximately USD 5.16 billion in 2023. This market share is attributed to greater focus on skin care and proper hair care and increased use of cosmetics 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.
The 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 the global, regional and country level from 2020 to 2033. Brainy Insights has segmented the global Hair Transplantation market based on the following segments:
Global Hair Transplantation Market by Process:
• FUE (Follicular Unit Extraction)
• FUT (Follicular Transplantation)
• Other (FUE+FUT)
Global Hair Transplant Market by Gender:
• Male
• Female
Global Hair Transplantation Market by Service Provider:
• Hospitals
• Dermatology Clinics
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About the report:
The global Hair Transplant market is analyzed by value (USD Billion). All segments have been analyzed on a global, regional and national basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of drivers, opportunities, restraints and challenges to gain 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 channel analysis.
About The Brainy Insights:
Brainy Insights is a market research company, aiming to provide actionable insights through data analytics to companies to improve their business acumen. We have a powerful forecasting and estimation model to meet customer targets for high quality production in a short period of time. We provide both personalized (customer specific) and syndicated reports. The repository of syndicated reports is different in all categories and subcategories in all areas. Our customized solutions are tailored to meet the requirements of clients whether they want to expand or plan to launch a new product in the global market.
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https://www.globenewswire.com/news-release/2024/08/08/2926526/0/en/Hair-Transplant-Market-to-Grow-at-CAGR-of-14-35-through-2033-The-Brainy-Insights.html
