Hair Transplant Market

Global Hair Transplant Market Size (2024 to 2032)

The size of the global hair transplant market was worth USD 10,794 million in 2023. The global market is anticipated to grow at a CAGR of 5.6% from 2024 to 2032 and be worth USD 17,626 million by 2032 from USD 11,398 million in 2024. 

MARKET DRIVERS

The growing population suffering from hair loss issues worldwide primarily propels the growth of the hair transplant market. Hair loss has become a very common issue, and its prevalence is growing rapidly worldwide. As per the statistics published by the International Society of Hair Restoration Surgery (ISHRS), an estimated 35 million men and 21 million women have hair loss issues in the U.S. alone. Aging, stress, hormonal imbalances, and genetics majorly cause hair loss in people. The awareness among people regarding the various available treatment options to treat hair loss, including hair transplants, has increased dramatically in recent years. Among all the available treatment options for hair loss, hair transplant solutions are believed to be the most effective solution and help significantly to restore the confidence and self-esteem of patients. The incidence of hair loss worldwide is expected to grow significantly in the coming years and contribute to the growth of the hair transplant market.

The growing awareness among people regarding hair transplant procedures is another key attribute contributing to the market growth. In recent years, the internet and social media have been key in improving awareness of hair transplant procedures. The growing awareness has also resulted in the increasing acceptance of hair transplant procedures by people. The number of hair transplant procedures performed worldwide increased by 16% between 2016 and 2019 worldwide, according to the International Society of Hair Restoration Surgery (ISHRS).

Technological advancements further fuel the growth rate of the hair transplant market. The techniques of hair transplant procedures have significantly improved due to technological advancements. Technologically well-improved hair transplant techniques such as follicular unit extraction (FUE) and robotic hair transplant surgery have proven to offer improved patient outcomes and increased patient satisfaction. The rising disposable income in developing countries and the availability of financing options boost the growth rate of the hair transplant market. The growing number of hair transplant clinics and practitioners, especially in developing countries, and the increasing demand for hair restoration treatments from women also drive the market growth.

Furthermore, the growing popularity of minimally invasive hair transplant procedures such as FUE, rising medical tourism for hair transplant procedures owing to the lower cost of treatment and availability of advanced technology and skilled practitioners, and the growing number of celebrity endorsements and media coverage of hair transplant procedures support the growth rate of the hair transplant market.

MARKET RESTRAINTS

The high costs associated with hair transplant procedures are one of the key factors hampering the market growth. The scarcity of quality practitioners and hair transplant clinics is another major factor hindering market growth. Potential risks associated with hair transplant procedures such as infections, scarring or poor outcomes and limited effectiveness of hair transplant procedures further inhibit the market’s growth rate. In addition, the social stigma attached to hair loss, the presence of alternative options to hair transplants such as hair loss drugs and poor awareness among people regarding hair transplant procedures in some countries impede the market growth. Furthermore, cultural beliefs, age limits and health and medical factors are showcasing a negative impact on the market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Hair Transplant Market Analysis By Surgical Method

• Follicular Unit Transplantation (FUT)
• Follicular Unit Extraction (FUE)
• Others

Based on the surgical method, the follicular unit extraction (FUE) segment had the leading share of the global market in 2023 and is anticipated to register a healthy CAGR during the forecast period. The benefits of FUE procedures such as less scarring, faster recovery time and reduced post-operative pain are one of the key factors propelling segmental growth. Higher patient satisfaction with FUE compared to FUT due to a more natural-looking hairline and less scarring further drive the segmental growth. The growing awareness of FUE as a hair restoration option and technological advancements further fuel the growth rate of the segment.

The others segment is predicted to grow at a healthy CAGR during the forecast period. Other treatments for hair loss such as platelet-rich plasma (PRP) therapy, mesotherapy and scalp micro pigmentation are available to treat hair loss issues. The growing demand for non-surgical hair restoration options and advancements in these techniques boost segmental growth.

The FUT segment is estimated to grow at a notable CAGR during the forecast period. Cost-effectiveness and lower transection rate of FUT primarily drive segmental growth.

Global Hair Transplant Market Analysis By Surgery Type

• Head Hair Transplant
• Eyebrow Transplant
• Frontal Hairline Lowering or Reconstruction
• Others

Based on surgery type, the head hair transplant segment had the largest share of the global market in 2023 and is expected to grow at a healthy CAGR during the forecast period. The growing patient population suffering from androgenic alopecia, advancements in hair transplant technology and rising awareness of head hair transplant as a hair restoration option majorly propel the segmental growth. In addition, improved safety and efficacy, greater acceptance, the growing aging population and the rising disposable income boost the growth rate of the segment.

Global Hair Transplant Market Analysis By End-user

• Trichology Clinics
• Hospitals
• Dermatologic Clinics
• Others

Based on the end-user, the trichology clinics segment accounted for the largest share of the global market in 2023 and the segmental domination is expected to continue throughout the forecast period. The growing demand for hair restoration procedures worldwide, rising awareness of trichology clinics as a specialized medical facility for hair and scalp conditions and advances in hair restoration technology support segmental growth. Trichology clinics often focus on providing personalized care to patients aiming for patient satisfaction, the availability of trained and experienced professionals in the field of hair restoration in trichology clinics and growing disposable income contributes to the segmental growth.

REGIONAL ANALYSIS

• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East and Africa

North America accounted for the largest share of the global hair transplant market in 2023 and the regional domination is anticipated to continue throughout the forecast period.

The growing prevalence of hair loss, rising awareness of hair restoration procedures and increasing disposable income in North American countries propel the North American region. North America is home to highly developed healthcare infrastructure and many leading hair transplant technology companies further boost the growth rate of the North American market. The U.S. held close to 80% of the North American market share in 2023 and the U.S. market is estimated to grow at a promising CAGR during the forecast period.

Latin America is a lucrative regional market for hair transplants and is predicted to capture a notable share of the global market during the forecast period. The rising demand for beard and mustache transplant procedures in addition to traditional head hair transplant procedures and a growing number of medical tourism destinations offering affordable hair transplant procedures such as Colombia and Mexico drive the growth rate of the Latin American market. The cultural importance of thick and lustrous hair in Latin American society, the increasing popularity of "mega-sessions" where patients can receive up to 5,000 hair grafts in a single session and the growing availability of financing options for hair transplant procedures further fuel the growth rate of Latin America. Brazil captured the major share of the Latin American market in 2023.

Europe had a substantial share of the global market in 2023 and is estimated to grow at a prominent CAGR during the forecast period. The growing number of hair transplant clinics offering robotic hair transplant technology, such as the ARTAS system that allows for more precise and efficient hair transplant procedures, rising interest in stem cell-based hair restoration treatments and cultural importance of personal appearance and grooming majorly drive the European hair transplant market growth. The rising trend of hair transplants for younger patients seeking to restore their hairline or prevent hair loss before it becomes too severe and the growing popularity of FUE hair transplant procedures boost the European hair transplant market growth. The UK held the largest share of the European market in 2023.

APAC is a noteworthy regional market for hair transplants. Factors such as the increasing demand for hair restoration procedures in India and China due to large populations and high prevalence of hair loss and the growing demand for hair transplant treatments among patients seeking to restore hair loss due to burns, injuries, or surgeries drive the APAC market growth. The growing number of hair transplant clinics offering hair restoration treatments specifically designed for female patients and the rising use of PRP therapy in hair restoration procedures in Japan and South Korea further fuel the growth rate of the APAC market. The Indian market accounted for the leading share of the APAC market in 2023.

MEA captured a moderate share of the global market in 2023 and is expected to grow at a steady CAGR during the forecast period. The growing trend of medical tourism for hair restoration procedures in countries such as Turkey and Dubai and rising interest in hair restoration treatments among Middle Eastern women seeking to improve their hair quality and appearance boost the growth of the MEA hair transplant market. Turkey is anticipated to hold a notable share of the MEA market during the forecast period.

KEY MARKET PARTICIPANTS

Allergan Plc, Bernstein Medical, Bosley, GETFUE Hair Clinics Ltd., Hair Restoration Blackrock (HRBR), Hair Club, Venus Concept (NeoGraft), Hairline International Hair and Skin Clinic, Hair Transplant Centre Turkey, Hair Transplants of Florida, and Cole Instruments Inc. are a few of the significant companies operating in the global hair transplant market and profiled in this report.

RECENT MARKET DEVELOPMENTS

• Stemson Therapeutics acquired USD 7.5 million in seed funding in September 2020 from Allergan Aesthetics, an AbbVie subsidiary, and impact investor Fortunis Capital to accelerate the development of Stemson's medicinal solution for hair loss.
• Hair Club and Bosley announced the launch of BioGraft in May 2019. For a dramatic transformation, advanced development combines surgical and noninvasive hair restoration. This new product launch contributed to the company's hair transplant product portfolio being expanded. To develop highly improved products, the corporation invests much in R&D.