The global hair restoration services market was valued at $8,452.5 million in 2018, and is projected to reach $12,119.4 million by 2026, growing at a CAGR of 4.6% from 2019 to 2026. Rise in bald population around the globe has been a major driving factor of the global hair restoration services market.
The global hair restoration services market is segmented based on service type, gender, service provider, and region. On the basis of service type, the market is categorized into follicular unit extraction, follicular unit transplantation, laser treatment, follicular unit strip surgery, and others. In terms of gender, the market is fragmented into male and female. By service provider, it is segregated into hospitals, clinics, and surgery center.
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Over the past couple of years, hair loss has been a rising concern in some of the major parts of the world, specifically in North America, Europe, and Asia-Pacific. As per AMR sources, nearly 50 million men and 30 million women in the U.S. suffer from hair loss. In Europe, Czech Republic has the highest number of bald individuals, with the male population accounting for more than 50%. Similarly, in India, majority of male population especially in their 20s have been tackling with baldness issue. With rise in concern over hair loss, consumer seek for relevant solution or treatment on a long-term basis. This one factor has led to increase in demand for hair restoration services.
Over the last one decade, hair restoration services have evolved in terms of technology and efficiency. Several key hair restoration service providers have been strategizing on evolving and improvising their services, which has resulted increased customer demand for upgraded version of several hair restoration solutions, specifically follicular unit extraction and follicular unit transplantation.
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Many hair restoration patients subject themselves to unnecessary risk, and in some cases, permanent harm, by unknowingly having their procedures done by unlicensed techs who illegally perform surgery, rather than licensed and appropriately experienced professionals. The rogue clinics that facilitate illegal practices have created an expanding black-market hair transplant. Patients around the world are suffering from the unlawful actions of these clinics, which could significantly impair the entire hair transplant industry.
According to the U.S. Census Bureau, millennials are on the verge of surpassing baby boomers in the country.
Similarly, in Asia-Pacific, millennials account for a larger population, especially in countries such as China, India, and Australia as compared to other population groups. Moreover, of hair loss concerns have been high among the millennials, specifically in North America and Europe. Hence, they consider hair restoration services as a solution on a long-term basis. Thus, rise in millennial population is antedated to provide immense opportunity for hair restoration services, in terms of value sales.
Key players profiled in the report include Direct Hair Implantation International, iGrow Laser, Bosley Inc., Elite Hair Restoration, National Hair Centers, NeoGraft, Lexington Intl., LLC, Bernstein Medical, Cole Hair Transplant Group, and others.
KEY BENEFITS FOR STAKEHOLDERS
• The report provides an extensive analysis of the current and emerging trends and opportunities in the global hair restoration services market.
• The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help to evaluate the prevailing market opportunities.
• A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
• An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
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KEY MARKET SEGMENTS
By Service Type
• Follicular Unit Extraction
• Follicular Unit Transplantation
• Laser Treatment
• Follicular Unit Strip Surgery
By Service Provider
• Surgery Center
• North America
o Rest of Europe
o Australia and New Zealand
o Rest of Asia-Pacific
o Latin America
o Middle East