The Hair Restoration Market revenues were estimated at US$ 4.9 Billion in 2021 and are anticipated to grow at a CAGR of 18.2% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach US$ 30.8 Billion.
Increased alopecia prevalence, rising global disposable income, and changing lifestyles among the global population are all driving the market growth. This development could be attributed to the higher success rate of hair transplantation surgeries, as well as technological advancements in the field of less invasive hair replacement. Excessive cigarette and alcohol usage, as well as growing stress levels, are known to be major triggers for the condition.
Although the exact cause of the disease is unknown, a handful of cases have been linked to hereditary factors. Other variables that are predicted to stimulate the business include increased disposable income and an emphasis on aesthetics in development.
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The market is gaining pace as the success rate of therapies such as Follicular Unit Extraction (FUE) and Follicular Unit Transplantation (FUT) has grown and proven to be viable options for hair restoration.
Furthermore, many hair stylists now blend these two treatments for the best aesthetic results. One of the key reasons for their popularity is that hair restoration methods have gotten less invasive in recent years. The MEA region can be projected to be the most lucrative region in this market during the forecast period, 2022- 2032.
Competitive LandscapeBernstein Medical
- Bernstein Medical
- Bosley
- Harley Street Clinic
- Advanced Hair Studio
- Milla Marie
- Lexington Intl., LLC
- Venus Concept
- Cole Hair Transplant Group
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Some of the recent developments of key Hair Restoration providers are as follows:
- In May 2019, Hair Club and Bosley both reported the delivery of BioGraft. For a great change, the development enhancement combines meticulous and nonsurgical hair rebuilding. This new item shipment aided in the expansion of the company’s hair relocation product portfolio. The company invests heavily in R&D to develop mechanically advanced products.
- In February 2018, Venus Concept announced the acquisition of NeoGraft Solutions’ hair restoration business. Neograft was a hair restoration technology and topical product developer.
Market Segments Covered in Hair Restoration Industry Analysis
By Procedure Type:
- Follicular Unit Extraction
- Follicular Unit Transplantation
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By Therapy Type:
- Low-Level Laser Therapy (LLLT)
- Stem Cell Hair Restoration
- Platelet-Rich Plasma
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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