Hair Transplant Market Size Report & Growth Analysis 2025

[Research Report] The hair transplant market accounted to US$ 5,272.1 Mn in 2017 and is expected to grow at a CAGR of 23.6% during the forecast period 2018 - 2025, to account to US$ 28,627.6 Mn by 2025.

Market Insights and Analyst View:

A hair transplant is a surgical procedure used to move hair and hair follicles from an individual’s body called a donor site to a bald location on the body. The removed hair from one part of the body is implanted into tiny holes in the scalp. This procedure is ideally performed with the help of a scalpel or a punch graft instrument. With hair transplant help, an individual can obtain the desired looks and confidence.  The target market for hair transplants includes men suffering from baldness, women suffering from thinning hair and hair fall, and victims of scalp or burn injuries.

The rise in surgical hair restoration procedures and the growing number of hair transplant procedures among men are bolstering the growth of the hair transplant market. Also, hair clinics across the globe are adopting several hair transplant marketing strategies, which is a key factor propelling the market's growth. In addition, the hair transplant market trends will likely positively impact the market's growth in the coming years.

Growth Drivers and Challenges:

Hair loss is a sensitive issue among both young men and women worldwide. Factors such as rising work pressure, stress, improper eating habits, heredity, and exposure to chemicals cause hair fall and receding hairline. Growing media and celebrity influence, societal pressure, and growing urbanization are some factors encouraging individuals to opt for hair transplants to enhance their physical appearance.

Hair transplant procedures have been opted by men on a large scale in the past few years. Since men are more prone to baldness, they hold the maximum share as users of hair transplant procedures. According to the International Society of Hair Restoration Surgery, the percentage of people undergoing hair loss treatment increased by 13% from 2016 to 2019. Moreover, in 2019, 681,964 people underwent surgical hair treatment procedures (a 14% increase from 2016), and 1,401,589 patients underwent non-surgical hair loss treatment (a 13% increase from 2016). However, female patients have also increased considerably in recent years. Thus growing importance of physical appearance and awareness is expected to boost the hair transplant market in the coming years.

However, the increasing number of black market hair transplant clinics that perform dangerous and poor hair transplants will likely hinder market growth. Some of the complications caused by these hair transplant black market clinics are larger scars, poor hair growth, infections, etc.

Strategic Insights

Report Segmentation and Scope:

The “Global Hair Transplant Market” is segmented based on procedure, implant site, therapy, and geography. Based on procedure, the hair transplant market is segmented into surgical and non-surgical. Based on the site of transplant, the hair transplant market is segmented into scalp, facial, and chest transplants. The hair transplant market by therapy was segmented into platelet-rich plasma, ravage 670, and laser caps.

The hair transplant market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

Segmental Analysis:

Based on procedure, the hair transplant market is bifurcated into surgical and non-surgical hair transplant procedures. The surgical segment held a larger market share in 2017, and the same segment is likely to grow at a higher rate during the forecast period. The surgical hair transplant procedure involves the removal of hair follicles from any site in the body, like the face, legs, or scalp, and transplanting them on the required hairless portion. It is an invasive procedure usually performed to treat hair baldness in which hair follicles are transplanted from the donor site to the bald area. Surgical hair transplantation is also used to perform hair transplants in lashes and brows. Thus, the rising demand for surgical hair transplants is driving the growth of the hair transplant market size.

Hair Transplant Market, by Procedure – 2017 and 2025

The global hair transplant market, based on the site of transplant is segmented into scalp, facial and chest transplant. The facial transplant segment is further segmented into eyelash, eyebrow, and beard/ moustache transplants. In 2017, the scalp segment held the largest share of the market. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to rapid advancements in hair transplant technology. Thus, the increasing popularity of scalp hair transplant products is driving the hair transplant market.

In terms of therapy, the hair transplant market is segmented into platelet-rich plasma therapy, laser cap, and Revage 670 Laser. By therapy, platelet rich plasma therapy segment held the largest share of hair transplant market. Platelet-rich plasma, normally called “PRP, " is a non-operative procedure for treating baldness. This therapy has minimal side effects associated with it.

Regional Analysis: 

Based on geography, the hair transplant market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In terms of revenue, North America dominated the hair transplant market share. The North America hair transplant market has been segmented into US, Canada, and Mexico. The US holds the largest share of the North American hair transplant market. Increasing number of hair transplant procedures in the US is likely to drive the US hair transplant procedure market. As per the International Society Of Hair Restoration Surgery, around 149,254 hair transplant procedures were performed in US and Canada. Thus, the growing number of hair transplant procedures performed will likely contribute to the growth of the U.S. hair transplant market size.

Additionally, the Asia Pacific hair transplant market, based on countries, is segmented into China, Japan, Australia, India, South Korea, and the Rest of Asia Pacific. The hair transplant market in India is likely to witness rapid growth owing to a large population, rising medical tourism, and the availability of cost-effective hair transplant treatments. Thus, the abovementioned factors will likely drive the Indian hair transplant market size.

Further, The Europe hair transplant market includes the consolidated markets for France, Germany, the United Kingdom (UK), Spain, Italy, and the Rest of Europe. The UK occupies a significant position in the Europe hair transplant market and is expected to record vigorous growth during the forecast period. The government of the UK has started many initiatives in collaboration with major players in the region. For instance, the European Hair Research Society is an independent, non-profit organization promoting the research of hair biology and hair disease in Europe. The EHRS comprises an international group of dermatologists, scientists, and professionals in academia, industry, and government. Thus government initiatives and increasing social awareness are expected to boost the UK hair transplant market size during the forecast period.

The Middle East & Africa market includes countries such as Saudi Arabia, the U.A.E., South Africa, Turkey, Rest of the Middle East and Africa. The Middle East & Africa (MEA) hair transplant market is expected to grow with the highest growth rate in the forecast period. Among the countries included in the Middle East & Africa region, Turkey held the largest market share in 2016, followed by the U.A.E. Turkey is also estimated to be the fastest-growing country in the region. Clinics in Turkey offering hair transplant procedures offer package deals, such as hotel accommodation until the procedure is completed. Moreover, the price of hair transplants in Turkey is about 20-25% of the cost of hair transplant procedures in America and Europe. The cost-effectiveness of the procedure and the availability of better are the major factors driving the market's growth in Middle East & Africa during the forecast period.

South and Central America is segmented into Argentina, Brazil, and the rest of South and Central America. Increasing disposable income in South American countries, rising number of new hair transplant centers, increasing medical tourism industry for hair transplantation procedures, and low cost of procedures can be the key factors for the growth of the South & Central American hair transplant market.

Industry Developments and Future Opportunities: 

Various initiatives taken by key players operating in the global hair transplant market are listed below:

1. In June 2023, Pfizer received US FDA approval for its LITFULO (Ritlecitinib), a once-daily oral treatment for individuals aged 12 or older with severe alopecia areata.
2. In May 2023, Pristyn Care announced the expansion of its aesthetic surgery offerings to include hair transplant procedures. Pristyn Care is offering hair transplant, beard transplant and eyebrow transplant services across five cities in India.
3. In September 2021, Dr Reddy’s Laboratories launched the prescription drug Minoxidil topical solution  USP  2% and 5% for treating female pattern hair loss (FPHL). Dr Reddy’s will sell its products as Mintop 2% and Mintop Eva 5%, respectively

Covid-19 Impact:

The effect of the COVID-19 pandemic was largely seen in the aesthetic industry. The market was widely affected as governments had restricted non-necessary healthcare services and permissions for limited necessary surgeries. This has led to a steep decrease in the aesthetic industry. Also, the fear of the coronavirus decreased the interest and demand for reconstructive procedures, including non-surgical procedures. During the pandemic, health services in the European region were highly prioritized to serve patients affected by COVID-19. The routine health care services have remained suspended. Therefore, it has affected the region's aesthetic services and dependable revenue generation. Various aesthetic companies closed their operations in the region. The pandemic has affected aesthetic service adversely; a Hamilton Fraser Cosmetic Insurance Survey conducted in March 2020 stated that ~99% of doctors' practice had been impacted during the pandemic.

Similarly, in India, all cosmetic, aesthetic, and hair transplant (HT) surgeries were stopped as elective surgeries may become the reason for infection spread. Most HT clinics in India stopped or postponed surgeries until the lockdown date limit. The pandemic caused financial implications for these setups. In addition to the revenue loss, clinics will also face increased costs during the COVID-19 pandemic due to maintenance costs of clinic’s equipment and salaries.

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global hair transplant market include Cole Instruments Inc., CAPILLUS, LaserCap Company, Apira Science, Harris FUE Instruments, HairMax Inc., THERADOME, FueInstrument, Shaanxi Xingmao Industry Co., Ltd, and Restoration Robotics, Inc. among others. these companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, allowing them to serve a large set of customers and subsequently increase their market share.

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REGIONAL FRAMEWORK MARKET PLAYERS

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