14-Feb-2023

Hair Restoration Market is expected to reach a valuation of US$ 30.8 Billion by 2032 | Says FMI Analyst

According to Future Market Insights’ newly released Hair Restoration Market analysis report, global sales of Hair Restoration in 2021 are expected to be US$ 4.9 billion. The projected market growth from 2022 to 2032 is expected to be significantly higher than the historical growth, with a CAGR of 18.2%. Follicular Unit Extraction is expected to be the most profitable procedure type, with a CAGR of more than 19% between 2022 and 2032.

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.

Key Companies Profiled:

Bernstein Medical
Bosley
Harley Street Clinic
Advanced Hair Studio
Milla Marie
Lexington Intl., LLC
Venus Concept
Cole Hair Transplant Group

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.

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Market Segments Covered in Hair Restoration Industry Analysis

By Procedure Type:

Follicular Unit Extraction
Follicular Unit Transplantation

By Therapy Type:

Low-Level Laser Therapy (LLLT)
Stem Cell Hair Restoration
Platelet-Rich Plasma

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By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified 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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Last Updated: 14-Feb-2023