Hair Transplant Market: Introduction
Hair transplantation is a surgical procedure, which changes the hair follicles from one part to another part of the body. This is majorly used to treat hair baldness in both male and female. In general, there are two types of methods used in the hair transplantation processes namely Follicular Unit Extraction (FUE) and Follicular Unit Transplantation (FUT).
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Market Dynamics
Increasing number of hair transplant surgical procedures, coupled with high treatment success rates are some of the major factors driving the hair transplant market. Moreover, increasing consumption of drugs with high dosages, along with increasing treatment demand from the developing countries are the key factors driving the global hair transplantation market.
Increasing preference regarding the physical appearance, and rising hair fall cases among the population of the Asia Pacific region will significantly augment the global hair transplantation market over the projected period. Among the Asian population, hair loss has become a common phenomenon. According to some epidemiologic stats from various Asian countries, nearly 41% to 73% of the population living in the Asia Pacific region develop a pattern hair loss in their life. With rapidly increasing awareness, and growing prevalence of hair loss problems, the hair transplantation demand is expected to rise in the coming years, thus driving the global market.
The market might be restrained by the adverse side effects caused by the drugs used during the hair transplant treatment. Some of the common side effects include the appearance of rashes and skin itching. Moreover, increasing incidences among people suffering from these drug side effects are chest pain, swelling of tongue, lips, feet, or hands, unexplained weight gain, etc. will significantly hamper the growth of hair transplant market over the projected time period.
By Therapy
Platelet Rich Plasma (PRP) therapy is expected to dominate the global hair transplant market over the entire forecast period. Increasing practices of this therapies for hair loss treatment will further lead to increased market growth opportunities in coming years. According to recent stats by International Society of Hair Restoration Surgery (ISHRS), around 58.8% patients were given PRP as a therapy during their hair transplant process. Rising adoption, coupled with the therapy’s efficiency will further promote faster healing along with very low scarring after the procedure, which will further result in the escalating PRP therapy demand during the projected period.
By Region
North America hair transplant market is expected to hold the prime share, majorly contributed by the U.S. over the projected period. Rising various hair transplant surgeries including FUT and FUE treatments, along with their high success rates are majorly driving the U.S. hair transplant market over the projected years. Rising cases of hair loss problems in the U.S., among both male and female will further foster the growth of the U.S. market. American Academy of Dermatology states that hereditary hair loss is one of the common causes for hair loss, which affects more than 80 million population in the U.S. alone. Moreover, additional factors such as stressful life, dandruff, smoking, along with consumption of unhygienic fast food will further lead to the growth of hair loss cases, thus triggering the hair transplant market growth.
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Competitive Landscape
Some of the prominent players in the global hair transplant market include Beiersdorf AG, Allergan Plc, L'Oreal SA, Bosley, MEDICAMAT, Lumenis Inc, Restoration Robotics Inc., PhotoMedex Inc., and Solta Medical, Inc. among several others.
These players have implemented many strategic moves to develop the treatment areas which have the potential to help the market to grow. Moreover, new product launches, along with increasing R&D activities to reduce the side effects of hair transplantation surgeries have increased, and this will further help the key player’s capabilities to sustain in the global market, thus providing better results to the customers.
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