Market Size of Hair Transplant Industry
| 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.
