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North America dominates the global hair transplant market with an increase in the incidence of hair loss among the U. S. population.
Pune, India, Oct. 16, 2023 (GLOBE NEWSWIRE) — Hair transplantation is a procedure in which the surgeon moves hair to a bald area, either through surgical or non-surgical procedures. Hair transplantation can be performed on the scalp, eyelashes, eyebrows, beard/mustache, chest, and among other sites.
The hair transplant market in terms of profits is estimated at $5. 12 billion in 2022 and is expected to reach $23. 32 billion by 2030, growing by 20. 9% over the period 2022-2030, according to a new report released through The Insight Partners.
The expansion of the hair transplant market is influenced by the increasing number of hair transplant procedures and the increasing incidence of hair loss.
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The increasing incidence of hair loss is driving the expansion of the global hair transplant market: several reasons, such as telogen effluvium (TE), drug side effects, ringworm, and alopecia areata, are to blame for hair loss. ET is not an unusual type of hair loss caused by serious infections and long-term illnesses. For example, according to the article published in the Journal of Medicine and Life, telogen effluvium is one of the effects of the COVID-19 pandemic. Medications and stressful cases caused by COVID-19 caused ET.
The increasing use of medications such as lithium, beta-blockers, warfarin, heparin, amphetamines, and levodopa (Atamet, Larodopa, Sinemet) can also lead to hair loss. In addition, many cancer chemotherapy drugs, to which doxorubicin is added, cause hair loss. In addition, fungal infections of the scalp are one of the leading causes of hair loss in children. According to an article published in PLOS ONE in 2023, annual ringworm accounts for 25-30% of all infections. Alopecia areata (AA) is an autoimmune disease that causes hair loss. According to the article published in the Journal of the German Society of Dermatology, 40% of patients have their first symptom of AA before the age of 20, and 83-88% suffer from it for the first time. up to the age of 40. Also, compared to Asian and Caucasian patients. In some populations, Africans and African Americans are more likely to develop type AA. Hence, the increasing occurrence of hair loss due to various reasons is driving the expansion of the market.
Global Hair Transplant Market: Competitive Landscape Cole Instruments Inc. , Vision Medical Inc. , Bernstein Medical PC, Curallux LLC, HairMax Inc. , NovaGenix LLC, Apira Science Inc. , Theradome Inc. , Robotics Restoration Inc. and LaserCap Co are among the leading corporations operating in the hair transplant market. These players are focusing on expanding and diversifying their market presence and gaining a new visitor base, exploiting the existing opportunities in the hair transplant market.
Opportunities in emerging countries are driving the expansion of the global hair transplant market: Governments in emerging countries are carrying out various healthcare infrastructure projects and attracting patients from all over the world. As a result, emerging countries, such as India, are gaining popularity as medical tourism destinations. The cost of a hair transplant procedure varies around the world. Compared to the United States and Australia, the cost of hair transplants in India is lower. Therefore, other people from countries such as the United States, the United Kingdom, Australia, Canada, Turkey, and Dubai prefer India as the only destination to undergo a hair transplant. For example, compared to the United States, where a similar number of grafts charge between $3,615 and $14,463, the average price of a hair transplant in India with pre- and post-operative care ranges from $1,084 to $1,084,1,807. In addition, the availability of highly skilled professionals and the increase in medical tourism for cosmetic surgery have increased the number of procedures performed in India. emerging countries.
The growing number of people seeking less expensive treatment is driving medical tourism in several emerging countries. For example, the medical tourism company claims that about 92,000 Americans and other Westerners have undergone hair transplants in India and other Asian countries. The increase in the number of clinics to meet visitor demand is expected to provide a lucrative opportunity for the market. For instance, in July 2023, DHI International, one of the world’s largest restaurant and hair transplant chains, opened a new clinic. This clinic offers complex hair recovery and transplant treatments with the highest criteria of patient care.
Global Hair Transplant Market: Segmental Overview On the basis of procedures, the hair transplant market is divided into surgical and non-surgical hair transplant procedures. A segment of hair transplant surgical procedures is further segmented into follicular unit band (FUS) surgery and follicular unit extraction. (FUE) and other surgical procedures. The functions of non-surgical hair loss remedies include platelet-rich plasma (PRP) for hair, laser cap cure, and others. PRP is an injectable cure used to treat hair loss. PRP remedies have a success rate of around 70-90%. Laser curing, such as low-level laser healing (LLLT), promotes hair growth in both women and men. Non-surgical procedures are less expensive than surgical ones, which explains their expansion. adoption, thereby driving the market for this segment. For example, depending on the clinic and location, PPR hair treatment prices range from 50 to 200 US dollars, which is relatively lower than surgical treatment.
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Hair loss is common, affecting about 50 million men and 30 million women in the United States. Therefore, other people are looking for various features for hair loss treatment. PRP is useful in treating male pattern baldness, reducing hair loss and encouraging new hair growth with a success rate of around 70-90%. PRP stimulates the expansion of human dermal papilla (DPC) cells that control the progression of hair follicles. DPCs bind to expansion sites and interact with number one stem cells to activate the proliferation phase of the hair follicle cycle, resulting in hair follicle progression and maintenance. The benefits of PRP therapy are faster scalp recovery, less swelling, and relief in the severity of bruising by expanding blood clotting points in the tissues. Therefore, the evolving role of PRP in hair regrowth for the quality of life of millions of people is likely to create significant opportunities and thus promote market expansion for this segment.
LaserCap is a non-surgical method to slow hair loss and regrow hair. LaserCap includes laser diodes that emit low-intensity red light to eliminate darkness from hair follicles. Gentle Low Point Treatment (LLLT) is a remedy that has been clinically shown to regrow hair in people with thinning or receding hair. The LaserCap approach is FDA approved for hair recovery in men and women with androgenic alopecia. The introduction of technologically complex products through key players is expected to drive market expansion for this segment. For example, in November 2022, Curallux, LLC, a major player in laser curing products, announced the launch of the Capillus MD medical grade cap that provides 320 laser diodes. This is the next point of a complex cure for hair recovery. Using rotational photocuring (RPT), an FDA-approved LLLT procedure called Revage 670 Laser provides non-surgical hair recovery. Men and women with fine hair can benefit from it. The formula has 30 laser diodes that rotate 180 degrees around the scalp while emitting cold, painless laser power to stimulate blood flow to the hair follicles just below the bald or thinning scalp. It is a non-invasive and painless cure with a 40% success rate in improving hair density and an 85% success rate in preventing the progression of hair loss. This is expected to increase the demand for Revage 670 laser curing, thereby driving market expansion for this segment.
Other segments include robotic hair transplantation, movable stem hair loss anti-hair loss therapy, and tissue expansion. Robotic hair transplantation is a minimally invasive procedure approved by the FDA. It’s a doctor-assisted generation that delivers realistic and long-lasting results. The superior concentrate technologically complex transplant enhancement products are expected to drive the market in this segment. For instance, in March 2023, Venus Concept Inc. , a leader in medical-aesthetic generation, announced the launch of the latest generation of ARTAS iX.
State-of-the-art technologies in robotics, device learning, synthetic intelligence, and device vision have become the new popularity in hair transplantation. The Stem Mobile Hair Loss Remedy is the latest breakthrough that promises to stimulate new hair growth. Broadening the focus on studies and progress to introduce new treatments for hair transplantation is highly likely to create an opportunity for market growth.
Explore others published through The Insight Partners:
Hair Loss Prevention Products Market: Global Analysis and Forecast to 2028
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