Hair Transplant Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.90 % |
| Fastest Growing Market | Asia |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Hair Transplant Market Analysis
The hair transplant market is expected to register a CAGR of 8.9% over the forecast period.
The COVID-19 pandemic had an adverse impact on the hair transplant market initially, which led to a significant decline in market growth. The pandemic led to unprecedented restrictions on hair treatment clinics, decreasing the demand for hair transplants worldwide. In the post-pandemic period, the lifting of lockdown and social restrictions restored the usual number of patients visiting cosmetic and dermatological clinics for hair transplants. This enabled the market studied to grow at a normal pace. Various research studies have highlighted that COVID-19 patients have experienced hair loss after recovering from the infection. Such patients are anticipated to elevate the demand for hair transplants in the coming years. For instance, a study published in the Journal of Medicine and Life in May 2022 underlined that over 39.9% of male and 60.1% of female patients of COVID-19 reported hair loss globally, which was triggered by the stress, and excessive medication of COVID-19. Thus, the COVID-19 outbreak had an adverse impact on the growth of the market initially. However, the market has been growing at a normal pace in the post-pandemic period and is expected to grow significantly over the forecast period.
The hair transplant market is anticipated to grow with the rising popularity of hair transplants to enhance looks and self-esteem and the increasing prevalence of various forms of dermatological disorders leading to hair loss.
The rising trend of hair transplants for the management of balding, androgenic alopecia (AGA), and aesthetic enhancement has boosted the demand for hair transplants. For instance, as per the data published by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2021, over 13.5% of hair transplant procedures were performed by plastic surgeons across the world in 2021 as compared to 13.2% of the procedures in the previous year. According to the data published by the Transplant Surgeon of AK CLINICS, India, nearly 3.5 million hair transplant surgeries happen every year in India, and with the requisite experience and expertise of Indian doctors in delivering natural-looking results in hair transplants, the medical tourism is elevating. This is expected to increase the demand for the hair transplant, thereby boosting the growth of the market studied. Furthermore, a study published in the Journal Trends in Biotechnology has highlighted the vast adoption of hair transplantation procedures as it is the most effective therapy for AGA.
Moreover, the recent developments by the market players are expected to increase the penetration of the hair transplant procedures, driving the growth of the market studied during the forecast period. For instance, in April 2022, Hermest Hair Clinic launched its Unique FUE Method at reasonable prices, offering affordable hair transplant services in Turkey for patients across the world. In November 2021, the Toronto Hair Transplant Centre and Dr Ashlin Alexander signed a partnership for combining their hair transplant and restoration services in Canada.
Hence, the hair transplant market is projected to grow significantly over the forecast period due to various factors, such as the increasing trend of hair transplants and recent developments by the market players. However, the high cost and the high need for care post-surgery are expected to impede the growth of the market studied.
Hair Transplant Market Trends
Dermatology Clinics Segment is Expected to Witness Significant Growth Over the Forecast Period
Dermatology clinics provide hair transplant services that are intended to restore a more youthful appearance for patients who are distressed by hair loss, particularly androgenetic alopecia. The segment is expected to grow due to the high demand for hair transplant services, the increasing number of dermatology clinics, rising medical tourism, and recent developments.
The demand for hair transplants is rising unprecedently across the world, increasing the demand for hair transplant services at a reasonable price that dermatology clinics can meet. This has led to an increase in the number of dermatology clinics worldwide. Medical tourism has also increased across the world, especially in Turkey, India, and the United Arab Emirates, due to their affordable and effective hair transplant services. For instance, as per the data published by the Turkish Health Tourism Association in 2023, over 1 million people visited Turkey and spent over USD 2 billion on hair transplants in 2022.
Moreover, the expansion of dermatology clinics along with various services is also contributing to the growth of the market studied. For instance, in May 2023, Casa Dentique, a dental clinic in Navi Mumbai, India, launched its new hair transplant services. The service was launched after the Maharashtra State Dental Council (MSDC) announced that oral and maxillofacial surgeons registered with any state dental council of India can now practice aesthetic and hair transplant procedures in India. In December 2022, Cosmedica Hair Transplantation Clinic in Istanbul signed a partnership with footballer Francesco Totti to invest in the Turkish hair transplant clinic Cosmedica. The partnership will focus on elevating the position of Cosmedica globally in the rapidly developing hair transplant market. Moreover, in September 2022, Padra Medical Centre, a part of Fakhraei Medical Group, a hair transplant clinic, launched its 8th branch worldwide and the first Padra Clinic in Qatar.
Therefore, with the high demand for hair transplants, growing medical tourism, and the expansion of dermatology clinics, the segment is expected to grow over the forecast period.
North American Market is Expected to Witness Significant Growth Over the Forecast Period
The North American Hair Transplant Market is expected to grow at a significant rate over the forecast period, owing to the vast patient base for hair transplants, the advanced infrastructure of the dermatology clinics and hospitals, as well as the recent developments by the market players.
The region has advanced medical infrastructure and technology that attracts a vast number of patients for hair transplants. For instance, as per the data published by HairPalace in 2023, the United States is a crucial destination for hair transplant surgery, equipped with cutting-edging technology, highly skilled surgeons and dermatologists, and a broad array of procedures available in the country. The same source further mentioned that the number of hair transplant patients increased by 40% during the pandemic alone. Moreover, as per the same source, follicular unit extraction (FUE) is the most widely used hair transplant procedure in the United States. The procedure provides lasting results and faster recovery time. It is the least invasive in nature and causes no signs of scarring. Other advanced procedures of hair transplant, such as NeoGraft FUE and FUT or strip hair transplant, are also performed in the United States.
There are several service providers operating in the country that offers advanced procedures and technology for hair transplant, including New Jersey Hair Transplant, Nova Medical, Bosley - Hair Restoration & Transplant, MAXIM Hair Restoration, Chicago Hair Transplant Clinic, Natural Transplants Washington, Great Hair Transplants Miami, Houston Hair Transplant Center, and others. Thus, with such vast adoption of hair transplants and technological advancements in the region, the demand for hair transplants is anticipated to increase, driving the growth of the regional market.
Moreover, the recent developments by the market players are expected to increase the availability of hair transplant services in the region, which is anticipated to increase the adoption of hair transplants and boost the growth of the regional market over the forecast period. For instance, in May 2023, ReGenesis signed a partnership with Now Hair Time Hair Transplant Turkey to assist its Western Canada clients with an affordable hair transplantation service. Furthermore, in February 2023, HairClub Center expanded its presence in the United States with the launch of a new center in Wildwood for residents seeking hair loss solutions. It is in addition to HairClub's other 120 HairClub Centers throughout North America and Puerto Rico. With the increasing number of hair transplant services in the North American region, the regional market is anticipated to grow during the forecast period.
Therefore, with the advanced medical infrastructure and technology of hair transplant, as well as recent developments, the North American market is anticipated to witness significant growth over the forecast period.
Hair Transplant Industry Overview
The hair transplant market is fragmented in nature due to the presence of several companies operating globally as well as regionally. With the rising demand for hair transplant services, several new market players are expected to enter the market in the coming years. The leading players operating in the market include Bernstein Medical, Cole Hair Transplant Group, Hair Transplants of Florida, Bosley Hair Restoration & Transplant, and Theradome.
Hair Transplant Market Leaders
Bernstein Medical
Cole Hair Transplant Group
Hair Transplants of Florida
Bosley Hair Restoration & Transplant
Theradome
*Disclaimer: Major Players sorted in no particular order
Hair Transplant Market News
- July 2023: Sakra World Hospital in India launched its comprehensive facial palsy care centre, which will offer a diverse range of aesthetic treatments such as hair transplantation and other treatments.
- May 2023: Cara Clinic, the pioneer of Sapphire Hair Transplants in India, stated that it reached the milestone of more than 12,000 hair and skin care procedures within 5 years, including hair transplant procedures of follicular unit extraction (FUE).
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Popularity of Hair Transplants to Enhance Looks and Self-Esteem
4.2.2 Increasing Prevalence of Various Forms of Dermatological Disorders Leading to Hair Loss
4.3 Market Restraints
4.3.1 Cost Constraints and High Need of Post-surgery Care
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Procedure
5.1.1 Follicular Unit Transplantation (FUT)
5.1.2 Follicular Unit Extraction (FUE)
5.1.2.1 Manual FUE
5.1.2.2 Robotic FUE
5.1.3 Combination of FUT & FUE
5.1.4 Other Procedures
5.2 By Gender
5.2.1 Female
5.2.2 Male
5.3 By Service Provider
5.3.1 Hospitals
5.3.2 Dermatology Clinics
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bernstein Medical
6.1.2 Cole Hair Transplant Group
6.1.3 Elite Hair Restoration
6.1.4 Aderans (Hair Club)
6.1.5 Hairline International Hair and Skin Clinic
6.1.6 Apira Sciences Inc (iGrow Laser)
6.1.7 Hair Restoration Blackrock
6.1.8 Hair Sure
6.1.9 Hair Transplants of Florida
6.1.10 Bosley Hair Restoration & Transplant
6.1.11 Theradome
6.1.12 Venus Concept
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Hair Transplant Industry Segmentation
As per the scope of the report, hair transplant is a surgical technique that removes hair follicles from one part of the body and transplants them to the balding part.
The hair transplant market is segmented by procedure (Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE), combination of FUT & FUE, and other procedures), gender (female and male), service provider (hospital and dermatology clinics), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the market size in value terms in USD for all the above segments.
| By Procedure | ||||
| Follicular Unit Transplantation (FUT) | ||||
| ||||
| Combination of FUT & FUE | ||||
| Other Procedures |
| By Gender | |
| Female | |
| Male |
| By Service Provider | |
| Hospitals | |
| Dermatology Clinics |
| By Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Frequently Asked Questions
What is the current Hair Transplant Market size?
The Hair Transplant Market is projected to register a CAGR of 8.90% during the forecast period (2024-2029)
Who are the key players in Hair Transplant Market?
Bernstein Medical, Cole Hair Transplant Group, Hair Transplants of Florida, Bosley Hair Restoration & Transplant and Theradome are the major companies operating in the Hair Transplant Market.
Which is the fastest growing region in Hair Transplant Market?
Asia is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hair Transplant Market?
In 2024, the North America accounts for the largest market share in Hair Transplant Market.
What years does this Hair Transplant Market cover?
The report covers the Hair Transplant Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hair Transplant Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hair Transplant Industry Report
Statistics for the 2024 Hair Transplant market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hair Transplant analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
