Hair Restoration Market to Reflect a Holistic Expansion During 2021 to 2028: Grand View Research Inc.
Hair Restoration Market Growth & Trends
The global hair restoration market size is anticipated to reach USD 13.6 billion by 2028, according to the new report of Grand View Research, Inc. The market is expected to expand at a CAGR of 15.4% from 2021 to 2028. Hair restoration technique which includes surgical as well as a non-invasive treatment option is an effective procedure to increase hair thickness, fill in a receding hairline, and treat baldness as well as severe alopecia.
According to the American Academy of Dermatology, androgenic alopecia is the most common cause of hair loss in both men and women. According to the American Hair Loss Association, 95 % of hair loss in men is caused by androgenetic alopecia and around 40% of men notice symptoms of baldness by the age of 40.
The market is currently witnessing a surge in treatment adoption due to high psychological stress, poor dietary habits, reduced nutritional levels with age progression, and increasing hormonal changes due to lifestyle shifts among the global population. This surge can also be due to the increased success rate of the transplantation procedures and technological advancement in the field of less invasive hair repair.
In the light of COVID-19, the market was hampered as the footfall of patient appointments for surgical Follicular Unit Extraction (FUE) or Follicular Unit Transplantation (FUT) treatments was temporarily suspended. However since the government in many countries has allowed resuming elective surgical procedures, clinics have also started hair transplant procedures again and international organizations like the International Society of Hair Restoration Surgery (ISHRS) has set strict protocols for resuming hair restoration practices as well as offer patient guidance in finding hair repair clinics deemed.
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Hair Restoration Market Report Highlights
- By procedure, the FUE segment held the largest market share in 2020 as it is a minimally invasive surgery with negligible pain, and has faster post-operative healing
- Based on the therapy, the platelet-rich plasma segment accounted for the largest revenue share in 2020 as these plasmas are rich in multiple growth factors and proteins that collectively stimulate, repair, and aid in wound healing and help in possible hair growth
- Asia Pacific dominated the market in 2020 owing to technological advancements and an increase in patients opting for procedures to improve aesthetic appearances
- In MEA, the market is bound to grow significantly during the forecast period. This is expected to be majorly contributed by the large population and rapid urbanization coupled with increasing awareness regarding the aesthetic procedure in this region
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Hair Restoration Market Segmentation
Grand View Research has segmented the global hair restoration market on the basis of procedure, therapy, and region:
Hair Restoration Procedure Outlook (Revenue, USD Million, 2016 - 2028)
- Follicular Unit Extraction
- Follicular Unit Transplantation
Hair Restoration Therapy Outlook (Revenue, USD Million, 2016 - 2028)
- Low-Level Laser Therapy (LLLT)
- Stem Cell hair restoration
- Platelet-Rich Plasma
Hair Restoration Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
List of Key Players of Hair Restoration Market
- Venus concept
- Bernstein Medical
- The Harley Street Clinic
- Advanced hair studio
- Milla Marie
- Lexington Intl., LLC
- Cole Hair Transplant Group
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.