Newark, Aug. 7, 2024 (GLOBE NEWSWIRE) — According to the report published by The Brainy Insights, the global Hair Transplant Market is expected to grow from USD 12.42 billion in 2023 to USD 47.49 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 14.35% during the forecast period 2024-2033.
This growth is due to rapidly increasing socio-economic development, growing influence of social media, increased awareness of one’s appearance and focus on many other grooming standards – all factors that are driving the hair transplant sector.
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Competitive strategy
To strengthen their market position in the global hair transplant market, key players are now focusing on implementing strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
• In January 2024: Hair of Istanbul, a leading company in the hair transplant field, plans to open its new office in City Walk, Dubai at the end of February this year. This expansion shows the growing influence of the clinic factor, which has ultimately helped the company gain a share in the hair transplant market as it offers its services to a global audience.
Reporting scope and segmentation –
| Report coverage | details |
| Forecast period | 2024–2033 |
| Forecast CAGR | 14.35% |
| Value forecast for 2033 | 47.49 billion USD |
| Market size in 2023 | 12.42 billion USD |
| Historical data | 2020-2022 |
| Number of pages | 238 |
| Report coverage | Revenue forecast, company profiles, competitive landscape, growth factors and latest trends |
| Segments covered | Procedure, FUT, gender and service provider |
| Regions covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and the Middle East & Africa. In addition, the regions are further analyzed at the country level. |
| Growth drivers in the hair transplant market | Increase in hair transplants |
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Market growth and trends
Recently, it has been observed that the number of hair transplants is increasing significantly. These procedures provide benefits such as a more youthful appearance, increased confidence, etc. These procedures are safe and the chemicals used do not harm people. Therefore, the demand for hair transplants is growing. Also, there is an increase in work pressure, wrong eating habits, heredity, stress, exposure to chemicals, etc., which leads to hair loss and weaker hairline. Also, there is a growing influence of social media, an increase in celebrity influence, societal pressure and rapid urbanization. All these factors motivate people to undergo hair transplant to improve their physical appearance. All these factors will ultimately drive the hair transplant market. According to one of the studies, over 34% of voluntary hair transplants are performed by people seeking an advantage. Currently, over 80% of men and 25% of women suffer from genetic hair loss. In 2021, around 3.4 million hair transplants were performed worldwide and over 1 million hair transplants took place in Turkey. According to many estimates, the Turkish hair transplant sector will generate around 1.8 billion USD in 2021. Also, the number of hair transplants has increased significantly recently. Also, it has been observed that the most expensive countries in this sector are Canada and Australia, and this can be determined by the respective prices per graft of 7 USD and 5.5 USD respectively. In contrast, the hair transplants in Turkey are comparatively cheaper with a price of around 1.07 USD. The thick and full hair symbolizes youth and beauty in this modern world. Thinning and balding indicate illness and aging, and hair loss has significant negative emotional effects. Hair loss can massively affect confidence in the workplace, social life, and relationships. It has been observed that people suffering from hair loss experience a sense of vulnerability, shame, and embarrassment. These negative feelings can greatly influence the desire to undergo a hair transplant or any other type of treatment to hide the effects of hair loss. It has been observed that about 95% of hair transplant patients experience a positive emotional impact after a hair transplant.
Key findings
• In 2023, the FUE (Follicular Unit Extraction) segment dominated the market with the largest market share of 65.82% and a market revenue of USD 8.18 billion.
The procedure segment is divided into FUE (Follicular Unit Extraction), FUT (Follicular Hair Transplantation) and Others (FUE+FUT). In 2023, the FUE (Follicular Unit Extraction) segment dominated the market with the largest market share of 65.82% and a market revenue of USD 8.18 billion. This significant market share is attributed to the less invasive procedure.
• In 2023, the male segment dominated the market with the largest market share of 82.11% and a market revenue of USD 10.20 billion.
The gender segment is divided into male and female. In 2023, the male segment dominated the market with the largest market share of 82.11% and a market revenue of USD 10.20 billion. This market share is attributed to the most obvious signs of hair loss, which is more common in men.
• In 2023, the dermatology clinics segment dominated the market with the largest market share of 61.11% and a market revenue of USD 7.59 billion.
The service providers segment is divided into hospitals and dermatology clinics. In 2023, the dermatology clinics segment dominated the market with the largest market share of 61.11% and a market revenue of USD 7.59 billion. This market share is attributed to a large number of hair transplants performed in clinics.
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Regional Segment Analysis of Hair Transplant Market:
• North America (USA, Canada, Mexico)
• Europe (Germany, France, Great Britain, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of Asia-Pacific)
• South America (Brazil and the rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of Middle East)
The North America region emerged as the largest market for the global hair transplant industry with a market share of 41.53% and a market value of around USD 5.16 billion in 2023. This market share can be attributed to a greater focus on skin and hair care, as well as a rise in the use of cosmetics due to increased awareness about physical appearance. Moreover, the cost of treatment in the region is high, but the disposable income of the people has also increased.
The major players in the global hair transplant market are:
• Hair from Istanbul
• AbbVie Inc.
• Bosley
• GETFUE Hair Clinics
• Bernstein Medical
• ILHT Dubai
• HRBR
• Acibadem Health Group
• Venus concept
• Tempus Hair Restoration of Florida
This study forecasts revenue at global, regional and country levels from 2020 to 2033. Brainy Insights has segmented the global hair transplant market based on the below mentioned segments:
Global Hair Transplant Market by Procedure:
• FUE (Follicular Unit Extraction)
• FUT (Follicular Hair Transplant)
• Others (FUE+FUT)
Global Hair Transplant Market by Gender:
• Masculine
• Female
Global Hair Transplant Market by Service Provider:
• Hospitals
• Dermatological clinics
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About the report:
The global hair transplant market is analyzed in terms of value (US$ billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges to gain key insights about the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply and demand analysis, competitor positioning grid analysis, and sales and marketing channel analysis.
About The Brainy Insights:
Brainy Insights is a market research company that aims to provide actionable insights to businesses through data analysis to improve their business acumen. We have a robust forecasting and estimation model to achieve clients’ goals of high-quality results within a short period of time. We offer both customized (customized) and syndicated reports. Our repository of syndicated reports is diverse and covers all categories and subcategories of all domains. Our customized solutions are tailored to the requirements of the clients, whether they are looking to expand or planning to launch a new product in the global market.
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