MarketResearchFuture.com (MRFR) in its recently Announced study report asserts that the “Global Hair Transplant Market” growing further will reach USD 23,881.9 Mn. by 2023, registering 24 % CAGR Along with Top Companies and Mega Trends.
Pune, India -- (SBWIRE) -- 09/26/2018 -- Hair Transplant Market - Highlights
Hair transplant is one of the most rapidly evolving procedures in aesthetic surgery, and the global hair transplant market is expected to experience an astounding growth with a CAGR of 24% over the forecast period of 2014-2023, asserts Market Research Future (MRFR) in a detailed research report. Genetics, high-stress levels, medical conditions, and aging are factors contributing to hair loss and increase in a number of people suffering from hair loss fosters the growth of the global hair transplant market. Losing hair is traumatic, and the social stigma attached to baldness and hair loss is the prime driver of the global hair transplant market.
Hair transplant can now be offered as a reasonable option to those who are unresponsive to medical treatment. Hair loss is a common problem among all age group, and growing desire to retain a youthful look substantiates the consistent demand for hair transplant services.
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Availability of hair transplant services across various hospitals, specialty clinics coupled with the rise in disposable income who are more willing to spend on personal care spurs the growth of the market. Increase in incidences of various dermatological disorders and rise in hair loss cases due to chemotherapy also contributes to the market growth.
Advancements in hair transplantation techniques and the emergence of newer methods such as the Follicular Unit Extraction (FUE) has created a paradigm shift for the hair transplant industry. FUE is a minimally invasive hair transplant surgery and has been able to tap those consumers who were previously unwilling to undergo a hair transplant when it appeared to be an invasive procedure.
Introduction of robotic hair transplant and rise in medical tourism is also expected to spur the growth of the market over the forecast period. Even though the market is proliferating, the growth of the market might be met by few restraining factors such as severe side effects associated with hair transplant and high cost associated with these procedures. The global hair transplant market is poised to catapult from USD 4128.1 Million in 2016 to USD 23881.9 Million by the end of 2023.
The eminent players operating in the Global Hair Transplant Market include Bernstein Medical (US), Cole instruments (US), MEDICAMAT (France), Restoration Robotics Inc. Company (US), Bosley (US), and Ethics hair instruments (India).
In September 2018, Restoration Robotics, Inc., a global leader in robotic hair restoration, announced the third class for Master Class Series for the ARTAS® Robotic Hair Restoration System which will provide training to physicians on best practices and the most updated techniques on hair transplant. The master class will include live demonstration, hair restoration topics and technical aspects of robotic surgery for hair transplant.
The global hair transplant market has been segmented based on surgical methods, type of surgery, and end user. By surgical methods, the market has been segmented into Follicular Unit Transplantation (FUT) and Follicular Unit Extraction (FUE). By type of surgery, the market has been segmented into Head Hair Transplant, Eyebrow Transplant, Frontal Hairline Lowering or Reconstruction. By end user, the market has been segmented into trichology, hospitals, and dermatology.
The global hair transplant market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas held the maximum share of the global market and was valued at USD 2240.7 Million in 2016. Asia Pacific is the second largest market for hair transplant and is expected to expand at a CAGR of 24.3% over the forecast period. The market in Europe is flourishing, and countries like France, Germany, and the UK are the key contributors to the Europe market. Europe hair transplant market is expected to attain USD 3,647.3 million by 2023. The Middle East & Africa market is expected to exhibit limited growth over the forecast period due to lack of knowledge of treatment.
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