Sellbyville, DE -- (SBWIRE) -- 12/18/2018 -- The Hair Transplant Market is set to exceed USD 24.8 billion by 2024; according to a new research study published by Global Market Insights, Inc.

Increasing importance regarding their physical appearance and hair loss among the people in Asia Pacific region will augment the hair transplant market over the forecast period. Although the prevalence of androgenetic alopecia is lower in Asian population as compared to Caucasians, hair loss is a very common phenomenon in the Asia Pacific region. According to epidemiologic data from several different Asian countries, it is estimated that around 41% to 73% of the Asian population develop pattern hair loss at some point of time in their life. With rapidly growing awareness and rate of hair loss problems, the demand for transplant procedures will only rise in near future.

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Booming medical tourism in Turkey for hair loss treatment is one of the major driving factors responsible for the growth of hair transplant market. With around 300 clinics especially for hair transplant alone, Istanbul and many other major cities in Turkey attract patients from all over the world, mainly from Middle East, the Gulf region and Europe. Advanced technology, experienced surgeons and relatively low cost of hair transplant treatment in Turkey are the major factors responsible for boosting Turkey hair transplant market growth.

Drugs product market segment held around 50% share of total product market valuation, accounting for a total value of USD 935.3 million 2017. Adoption of new and innovative drug therapies will rise in near future due to expanding availability and accessibility of hair transplant treatment drugs. Increasing use of Finasteride and minoxidil drugs will lead to their exponential sale, further driving the market segment growth. Rise in number of drug prescriptions for hair transplant treatment will propel hair transplant market growth during the forecast timeframe.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Allergan Plc
2. Beiersdorf AG
3. Bosley
4. L'Oreal SA
5. Lumenis Inc
6. MEDICAMAT
7. PhotoMedex Inc.
8. Restoration Robotics Inc.
9. Solta Medical, Inc.

Multivitamins product market segment is estimated to show lucrative growth in near future; it is estimated that it should grow with a CAGR of 25.6% from 2018-2024. Increase in consumption of multivitamins to counter hair loss problem and induce faster hair growth will result in high product demand and adoption rate. Rise in demand for multivitamins for post hair transplant treatment and rising awareness among the people regarding hair loss will lead to augment industry expansion.

U.S. hair transplant market is estimated to grow at a CAGR of around 24.5% over the forecast period. According to The Hair Society, around 35 million males and 21 million females suffer from hair loss problem in the United States. Increase in number of people with hair loss along with recent technological advancement in the field of hair transplant procedure will enhance industry growth.

Hospitals hair transplant business is expected to experience robust growth in the hair transplant market at a CAGR of 25.1% over the projection period. Increase in number of multi-speciality hospitals that provide hair loss treatment will create more opportunities for the growth of hair transplant and restoration surgeries. The facilities provided by the hospitals for clear diagnosis of hair loss disorders will help provide guidance for further line of treatment. Rise in number of people opting for hair loss diagnostics and screening in hospitals will eventually boost the hair transplant market growth.

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Hair Transplant Market by Method
- Follicular Unit Extraction (FUE)
- Follicular Unit Transplantation (FUT)

Hair Transplant Market by Product
- Gel
- Serum
- Drugs
- Finasteride
- Minoxidil
- Others
- Multivitamins