Hair Transplant Market to Get an Explosive Growth in Near Future | Capillus, Theradome, Bosley
Updated · Jul 19, 2023
Published Via 11Press : There is an upsurge in demand for hair transplants, and young people are particularly driving this trend. The number of hair transplant procedures conducted worldwide merely in the past year has increased by 15%, according to the International Society of Hair Restoration Surgery. Currently, hair transplants are thought to be a very effective way to cure baldness and hair loss. In reality, nearly 95% of hair transplants performed nowadays are successful.
According to the International Society of Hair Restoration Surgery (ISHRS), androgenetic alopecia affects 50% of males globally. Up to 13% of premenopausal women are thought to exhibit some symptoms of androgenetic alopecia. To conceal bald or sparse regions, existing hair is relocated during this type of surgery. These transplants have been carried out by doctors in the United States since the 1950s, although procedures have lately undergone considerable changes. The operation usually takes place in the doctor’s office. In order to numb the back of your head, the surgeon will first clean your scalp. The procedure for the transplant will either be follicular unit extraction or follicular unit strip surgery (FUSS), according to the physician.
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|Key Companies Profiled||Theradome (US), Anderson Center for Hair (US), StimuGro Inc. (Canada), Capillus (US), Restoration Robotics, Inc. (Canada), Apira Science (US), Transdermal Cap, Inc. (US), Harris FUE Instruments, Bosley Inc. (US), Other|
The report offers Major leading Key players:
- Transdermal Cap
- Anderson Center for Hair
- Apira Science
- Harris FUE Instruments
- Restoration Robotics
- Follicular Unit Transplantation
- Follicular Unit Extraction
- Follicular Isolation Technique
- Robotic Hair Transplantation
- The market for hair transplants is predicted by HTF Market Intelligence to grow at a CAGR of 16.41% from 2017 to 2029. This expansion is largely being fuelled by an increase in the number of individuals experiencing hair loss and The market for hair transplants has grown primarily as a result of technological developments and factors that have lessened the stigma surrounding hair loss and hair loss therapies.
- The prevalence of hair loss among men and even women throughout the world has led to a high demand for hair transplant surgeries and the development of current therapies. Hair transplantation surgeries are now a lot safer, more productive, and more intrusive because to the introduction of new technology. This has raised demand for the industry, combined with rising consumer disposable income, increasing awareness of, and acceptance of, hair treatment methods.
- Hair treatment clinics are doing their best in terms of customer service by placing a greater emphasis on patient comfort and experience; they are known to offer personalized care plans and private procedure rooms to all the patients, which makes the patient more comfortable. In addition, endorsements with influencers and celebrities who have undergone hair transplant procedures have helped reduce the stigma associated with hair loss and promote hair loss treatments as a viable solution.
- These and other factors have fueled the market for hair transplants and increased demand for hair transplant therapies. There is a clear market trend at the global level. A few factors that have contributed to the expansion of the hair transplant market include increasing medical tourism, advancements in robotic hair transplantation technology, and consumer demand for non-invasive goods.
- The market is very fragmented. Strategic growth in unexplored areas and regions is where businesses are focusing their efforts. Companies are putting more money into R&D and concentrating on technology in an effort to increase innovation in the market. To enhance their market share and profitability, businesses are employing strategic collaborative projects.
- On the other hand, due to technical improvements and product breakthroughs, mid-size and smaller enterprises are increasing their market presence by securing new contracts and breaking into new industries.
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- A few factors that have contributed to the expansion of the hair transplant market include increasing medical tourism, advancements in robotic hair transplantation technology, and consumer demand for non-invasive goods. A rising trend in medical tourism for aesthetic operations is due to the availability of low-cost, high-quality hair transplant procedures in emerging nations.
- The market for hair transplants has grown as a result. A third of visitors to Turkey are said to go there for aesthetic and hair restoration operations because the European country is known for offering inexpensive hair transplant procedures. Platelet-rich plasma (PRP) therapy and low-level laser therapy are two non-invasive hair transplant procedures that are in high demand due to their minimal side effects and quick recovery times.
- These procedures are appealing to many patients. The use of robots for hair-transplant procedures is gaining momentum. Robots have been designed and developed to perform procedures with greater precision and accuracy, thus becoming incredibly popular. Stem cells and combination therapies are increasingly being used to encourage hair growth and improve the condition of hair follicles.
- Combination therapies, such as PRP therapy, when used in conjunction with hair transplant procedures have improved patient outcomes; as a result, the development of these two hair treatment options has emerged as one of the key trends driving the expansion of the hair transplant market.
Market Growth Drivers:
- The key drivers of growth for the hair transplant industry have been elements that contributed in lowering the stigma associated with hair loss and hair loss treatments, as well as a growing number of people struggling with hair loss.
- Globally, hair loss has become a fairly prevalent issue for both men and women, which has increased the demand for hair transplant surgeries and the development of current therapies. Procedures for hair transplantation are now a lot safer, more efficient, and intrusive thanks to the development of new methods. This has raised the demand for the industry, combined with rising consumer disposable income, increasing awareness of, and acceptance of, hair treatment methods.
- Hair treatment clinics are doing their best in terms of customer service by placing a greater emphasis on patient comfort and experience; they are known to offer personalized care plans and private procedure rooms to all the patients, which makes the patient more comfortable.
- In addition, endorsements with influencers and celebrities who have undergone hair transplant procedures have helped reduce the stigma associated with hair loss and promote hair loss treatments as a viable solution. These and other factors have fueled the market for hair transplants and increased demand for hair transplant therapies.
- The primary obstacles preventing the market expansion of the hair transplant industry have been expensive procedures, limited or nonexistent insurance coverage, a lack of qualified doctors, and probable treatment consequences.
- The high cost of hair transplant procedures and the fact that many health insurance plans do not cover them frequently discourage some patients from seeking treatment. If they did, it would ease the financial burden on many patients and encourage them to seek treatment.
- Due to the high degree of ability and knowledge required for hair transplant operations, there is a scarcity of qualified experts, which raises concerns about potential risks associated with receiving a hair transplant. Although hair transplant procedures are generally safe, inexperience or unprofessionalism in treatments can lead to complications like infections and dermatology concerns, scars and marks, and poor hair quality and growth.
- These complications would not have any chronic health effects on customers but would damage the market by negatively impacting patient satisfaction and the reputation of hair transplant clinics.
- Additionally, non-surgical techniques like PRP therapy and LLLT are becoming more and more popular. Because they are less intrusive and have a shorter recovery period, these procedures are more profitable for patients. These are the main issues impeding the market’s expansion for hair transplants.
- There are several potentials for the expansion of the hair transplant business, including opening it up to women, using medical tourism and developing markets, and offering financing solutions. There is an increasing need for hair loss treatments, and hair treatment clinics may now start offering specialized options for women who are experiencing hair loss, such as reconstructing and designing their hairlines as well as regrowing their eyebrows and eyelashes.
- Additionally, the growth of the hair transplant market in emerging economies by offering local patients high-quality, reasonably priced hair transplant procedures and taking advantage of medical tourists who travel to these developing nations to access high-quality, reasonably priced hair transplant procedures will prove to be great opportunities for the hair transplant market. Hair treatment clinics must offer financing options.
- Hair transplant clinics can offer patients flexible payment plans that fit their budgets by collaborating with financing companies. As hair transplants can be expensive and may prevent many people from receiving this treatment, this will draw in a much wider audience. These are a few of the many possibilities for the market for hair transplants to expand.
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- HTF Market Intelligence has used a focused and useful research strategy for the hair transplant sector in order to analyze the relevant market dynamics in various regions of the world. Additionally, in order to provide clients and businesses the chance to compete in developing markets and expand in existing ones, our specialists conduct in-depth analyses of specific geographic regions.
- The research of the worldwide hair transplant market also shows how the changing player dynamics are affecting the industry’s growth. In addition, our market researchers carefully review the products and services supplied by numerous businesses competing for market domination in the Hair Transplant industry.
Personifying the Report
- Along with comprehensive market forecasts, HTF Market Intelligence offers unique insights with added value on the following subjects:
- Keep the following in mind to grab important market opportunities:
- Indicators of market maturity, growth drivers, growth restraints, a study of new entrants, and entry/exit barriers are all included.
- Key Business Segments of the Hair Transplant Industry, Market Share, and Gap Analysis: A Dispassionate Look at Market Performance Indicators
- In light of this difficult climate, hair transplant research reveals the current state and essential elements of the market for hair transplants. To address this, HTF Market Intelligence analysts coordinated and conducted surveys of the companies engaged in hair transplantation.
- The created snapshot provides a framework for examining the reasons for and the course of the sector’s predicted evolution. the industry’s development and direction. Industry experts, surveys, and financial studies are used to reach conclusions.
- How can each firm in this sizable group of businesses negotiate the always-shifting competitive environment of the hair transplant market and put into practice a business strategy to maintain and strengthen the position they may claim or seize the fresh reachable opportunity?
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