Hair Transplant Market Size, Share & Trends Analysis Report By Method (Follicular Unit Extraction (FUE), Follicular Unit Transplantation (FUT), Others), By Gender (Male, Female), By Service Provider (Hospitals, Dermatology Clinics, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global hair transplant market size was valued at USD 8.05 Billion in 2023 and it is estimated to reach USD 16.62 Billion by 2032, growing at a CAGR of 8.80% during the forecast period. (2024-2032)

Hair transplant is a technique that involves the removal of hair follicles from one part of the body, called the 'donor site', and their transfer to a bald or thinning area known as the 'recipient site'. It intends to restore hair growth in areas of the scalp with limited or no growth at all. The global hair transplant market is expected to grow rapidly during the forecast period.

Market Dynamics

Hair Transplant Market Growth Drivers

Increasing Prevalence of Hair Loss and Baldness

The hair transplant technique is used mainly for the treatment of baldness. Men with pattern baldness, women with thinning hair, and victims of scalp or burn injuries typically prefer hair transplantation. According to the International Society of Hair Restoration Surgery, in the U.S approximately, 21 million women suffer from hair loss that is about 40% of all hair transplant patients.

One of the biggest causes of extreme hair loss is the evolving lifestyle of individuals worldwide. It has been discovered, according to recent studies, that increased sedentary lifestyles such as smoking, poor diet, and stress will contribute to hair loss. Similarly, as an inadequate amount of sleep, dehydration, intake of insufficient amount of protein-rich food, and lack of essential vitamins and minerals are also equally responsible for hair loss.

Moreover, the vast majority of men also go bald owing to a hereditary condition known as androgenetic alopecia, generally known as male pattern baldness. As per the American Hair Loss Association, 95% of hair loss in men is caused by androgenetic alopecia.

According to the American Hair Loss Association, 66% of men by age of 35 years have experienced some grade of hair loss, and by the age of 50, about 85% of men have considerably thinning hair. According to a 2014 survey by the International Society of Hair Restoration Surgery, in the U.S., about 35 million men and roughly 21 million women are affected by hair loss. Hence, attributing to the aforementioned statistics, the trend of hair transplant surgical procedures and associated therapy is rapidly emerging with the developing male pattern baldness rate, and sedentary lifestyle and is therefore contingent on proceeding across the expected period.

Hair Transplant Market Growth Opportunities

Technological Advancements to Revolutionize the Hair Transplant Industry in Coming Years

Hair transplantation is a modern concept; thus, technologies have been evolving continuously for a few years that have boosted the success rate of hair transplantation procedures. NeoGraft, which is an integrated FUE and implantation device, is the newest and most innovative hair transplantation process. The problems associated with a manual FUE operation have been eliminated by the NeoGraft hair transplant medical system.

Within the same time as a conventional strip hair transplant, an FUE hair transplant using NeoGraft may be carried out, minimizing the cost of a long manual FUE transplant. Besides, NeoGraft uses pneumatic pressure to remove the follicles and accurately insert them to lessen the time needed for hair transplantation. This removes the need during processing to touch the follicles with forceps, leaving them in a more robust state. Such technological progressions in hair transplant devices are increasing the success rate of this procedure.

Regional Analysis

The global hair transplant market share is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

The Escalating Prevalence of Brain-Related Disordersis the Key Factor Contributing to the North American market for Hair Transplant

North America is well-thought-out as one of the dominant regions in the hair transplant market, owing to the presence of a large target population. For instance, according to the National Alopecia Areata Foundation, in 2018, about 6.8 million individuals in the U.S. were affected by alopecia areata with a calculated lifetime risk of 2.1%. Also, around 2.4 million persons attended clinics and hospitals for their care in the same year.

According to MedlinePlus, this form of hair loss affects around 50 million men and 30 million women in the U.S. Moreover, increased psychological stress, poor dietary habits, and hormonal changes, particularly among women contribute to hair loss. According to data published by the International Society of Hair Restoration Surgery (ISHRS) (2019), by the age of 35, nearly two-thirds of men will have some degree of noticeable hair loss and around 85% after the age of 50. Also, women make up nearly half of the number of hair loss sufferers in the U.S. Furthermore, over the past few years, development in hair transplant technologies has enabled patients to have access to solutions that deliver real, long-lasting results.

India to Be One of the Emerging Hot Spots in Hair Transplant Market in Coming Years

Asia-Pacific hair transplant market growth is expected to record the fastest CAGR during the forecast period. India's hair transplant market is poised to grow at a lucrative pace in the coming years. Rapidly boosting the lifestyle of celebrities, increasing consciousness of personality, looks, and higher levels of awareness all add to transforming medical facilities in India into a possible market for hair transplantation services. The shift in the trend of thought about seeking cosmetic care is all proving to be the future influencer of the demand for plastic and cosmetics.

India is also now a global center for plastic and cosmetic surgery owing to the cost-effective surgical care and adoption of better surgery facilities by experts. For instance, according to the Medispa Hair Transplant Center, the cost of hair transplant in India typically ranges from 1-2 lakhs, further aids to attract the middle-income group populace to obtain transplant at affordable prices.

Furthermore, the same source revealed that about 80-90% of hair transplant surgeries are conducted in India, in which Jaipur and Delhi share a top space. Maximum overseas patients from America, Europe, and Australia visit India to undergo surgery for hair reconstruction, further contributing to Indian hair transplant growth in terms of revenue.

Segmental Analysis

Based on method the hair transplant market is segmented into Follicular unit extraction (FUE), Follicular unit transplantation (FUT) and others

Follicular unit extraction (FUE) is the major contributing segment is since hospitals employ these hair transplant techniques primarily for operations such as transplanting a significant number of follicle units in one session relative to transplanting the follicular unit. Some of the significant benefits provided by this method are sport short hair, minimal post-operative recovery time, invisible microscopic scars. Also, there is no need for patients to visit the surgeon again for stitch removal, and also, body hair might be used for added density with this technique only as graft preparation is minimal.

Furthermore, one of the new robotic hair transplant systems that are growing in popularity is the ARTAS Robotic Technique. It was recently developed to use imaging technologies and robotics to automatically harvest FUs. It removes human error, prevents exhaustion, and provides specialists with algorithms to change the treatment for each patient. Patients will undergo a period of gradual healing and regeneration, and will only feel mild discomfort.

Based on gender the market is segmented into male and female.

The hair transplant market unfolds like a compelling business story. Men reign supreme, driven by two factors: prevalence of male pattern baldness creating a larger target audience, and stronger social acceptance leading to a more mature market segment. However, a new chapter is emerging. The female segment is experiencing significant growth as awareness rises about the effectiveness of hair transplants for women. This presents an exciting opportunity. By understanding these market dynamics, hair transplant companies can refine their strategies to capitalize on the established male market while capturing the growing female segment, ultimately strengthening their market position.

Based on service provider the market is segmented into hospitals, dermatology clinics, and others.

The hair transplant battleground features three key service providers: hospitals, clinics, and surgical centers. While each plays a role, dermatology clinics currently dominate the market. This dominance is fuelled by a strategic advantage: expertise. Dermatologists specialize in hair and skin, making them well-equipped for hair transplant procedures. Additionally, these clinics often focus solely on hair restoration, allowing them to invest in advanced technology and cultivate experienced staff. Compared to hospitals, dermatology clinics offer a more convenient and accessible experience for most hair transplant patients. Hospitals might handle complex cases, and surgical centers provide specialized environments, but for the majority seeking hair transplants, dermatology clinics deliver the winning combination of expertise, technology, and accessibility.

Impact of covid-19

The outbreak of the COVID-19 pandemic has kept individuals quarantined in their homes worldwide for most of 2020. To stop the spread of the disease, governments have restricted movement and forbidden travel around the world. This has undoubtedly caused people to want to escape from isolation and to enjoy life as before. Governments also appear to lift travel bans and ease travel restrictions from 2021 due to the falling GDP and the disruption of big and small businesses. As individuals begin to travel again during this period, the tourism industry can expect to see a dramatic increase in bus ticketing, which was affected in terms of both income and employment rates earlier this year.

Recent Developments

• In Dec 2019, SmartSolutions RX, Inc. launched a new scientifically based, drug-free hair support system LOCKrx, that includes both ingestible and topical healthy hair programs that generate the ideal environment to retain the hair follicle cycle and growth.
• In May 2019, Hair Club and Bosley Inc. launched BioGraft, a novel technology in hair loss solutions for both men and women.
• In Feb 2018, Venus Concept Ltd. acquired NeoGraft Solutions' hair restoration business (NeoGraft).