Overview:
Hair transplant is a recent process that has been developed to treat baldness. The process includes removal of hair follicles from one part of the body and insertion of it in the designated part. Both male and female are expected to benefit from this. The global hair transplant market is all set to gain from the growing demand for the process and achieve a CAGR of 24% during the forecast period (2017-2023). Market Research Future (MRFR) made a claim in the report that ensures that the growth could touch a valuation of USD 23,881.9 million by the end of 2023.
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Factors, such as the growing self and social awareness, integration of the entertainment industry, high success rate of the procedure, better treatment facilities and others. The hair transplant market is also gaining significant market percolation in developing regions due to their constructive approach towards their healthcare industry.
Segmentation:
Surgical methods, type of surgery, and end-users are segments that have been dealt in the global hair transplant market report studied by MRFR. The segmentation provides better scope for the study of the market.
Based on the surgical methods, the global hair transplant market can be segmented into Follicular Unit Transplantation (FUT) and Follicular Unit Extraction (FUE). The global Follicular Unit Transplantation (FUT) segment has a market share of 52.7% and is expected to increases its revenues during the forecast period.
Based on the surgery, the hair transplant market encompasses head hair transplant, eyebrow transplant, and frontal hairline lowering or reconstruction. The head hair transplant market has a market coverage of almost 88.3% and it is expected to gain substantial profit in the coming years.
Based on the end user, the hair transplant market includes trichology clinics, hospitals, dermatology clinics, and others. The trichology clinics segment is expected to fetch USD 14,193.7 million valuation by the end of 2023.
Regional Analysis:
The Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW) are four major regions that have been taken into consideration for an in-depth analysis of the global hair transplant market. The report provides an extensive look into the demographic dynamics for a better understanding of the market in the coming years.
The Americas is expected to control the global market as it has a better market structure to support the demand for hair transplant market. Better infrastructure, high expenditure capacity, easy funding for research & development, and other factors are expected to promote the regional market. The inclusion of the entertainment industry is also quite pervasive due to which the market can expect strong growth. It had a valuation of USD 2.249 million in 2016, and is expected to continue its dominance during the forecast period as well.
The APAC market is expected to gain much from the various technological integration and change in the patterns of the healthcare industry. The region is witnessing an overhaul in terms of infrastructure and investment. At the same time, the huge patient pool and the infusion of the entertainment industry are expected to play pivotal roles. The regional market is expecting a 24.3% CAGR during the forecast period.
Competitive Landscape:
Several market leaders are using extraordinary strategies to establish their footing in the global hair transplant market. These companies are using merger, acquisition, collaboration, product launch, innovation, and other methods to solidify their market stance and take the market ahead in a holistic way. MRFR enlisted these companies for a better understanding of the global market. The list has Bernstein Medical (US), Bosley (US) Cole Instruments (US), Ethics hair instruments (India), MEDICAMAT (France) and Restoration Robotics Inc. Company (US).
In July 2019, VCare announced launching of 15 new clinics in South India with state-of-the-art facilities where hair treatments would assist in gaining profits. Their team is getting support from expert surgeons with experience in the field.
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