Hair Transplant Market Is Expected to Reach $30.13 Billion by 2031: Allied Market Research
Surge in the number of hair restoration procedures, rise in the occurrence of alopecia, increase in awareness among population regarding physical appearance, and technological advancement in the hair transplant sector are expected to drive the growth of the global hair transplant market. Cancellation of non-essential procedures and increased focus on COVID-19-infected patients in hospitals and clinics by healthcare professionals during the COVID-19 pandemic has had a negative impact on the growth of the market.
Portland, OR, Aug. 01, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global *hair transplant market* generated $4.90 billion in 2021, and is projected to reach $30.13 billion by 2031, growing at a CAGR of 20.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Report coverage & details:
*Report Coverage* *Details*
Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $4.90 billion
Market Size in 2031 $30.13 billion
CAGR 20.4%
No. of Pages in Report 315
Segments Covered Procedure, Gender, Service Provider, and Region
Drivers Increase in awareness among population regarding physical appearance
Rise in the occurrence of alopecia
Opportunities Surge in the number of hair restoration procedures
Technological advancements in the hair transplant sector
Restrains Lack of skilled surgeons
High cost of hair transplants
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*COVID-19 Scenario:*
· The outbreak of COVID-19 has had a negative impact on the growth of the global hair transplant market, owing to the occurrence of lockdown in various countries across the globe.
· Lockdowns resulted in the cancellation or postponement of all sorts of non-essential surgical procedures due to the subsequent surge in the cases of COVID-19 in various countries.
· Hair transplant procedures are non-emergency procedures that significantly hamper the revenue of hair transplant clinics. More and more healthcare professionals in hospitals and clinics were increasingly focussed on treating COVID-infected patients, which further decreased the demand for hair transplant procedures.
· However, the market is expected to recoup soon.
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The report offers a detailed segmentation on the global hair transplant market based on procedure, gender, service provider, and region.
Based on procedure, the follicular unit extraction (FUE) segment held the largest market share in 2021, holding more than two-third of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 20.6% during the forecast period. The report also analyses other segments that include follicular unit transplantation (FUT), Combination of FUT and FUE, and others.
Based on gender, the male segment held the dominating market share in 2021, garnering more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the male segment is expected to cite the fastest CAGR of 20.4% during the forecast period. The report also analyses another segment that includes female.
Based on service provider, the dermatology clinics segment held the majority market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The hospitals segment, on the other hand, is expected to cite the fastest CAGR of 20.6% during the forecast period.
Based on region, the market across North America held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 21.8% during the forecast period.
The key players analyzed in the global hair transplant market report include Hair Transplants of Florida, Hairline International Hair and Skin Clinic, Hermest Hair Clinic, GETFUE Hair Clinics Ltd, Hair Club, Hair Doc, Hair Palace Clinic, Hair Restoration BlackRockHRBR, Hair sure transplant center, Limmer Hair Transplant Center, Medical Hair Transplants & Aesthetics, SPRINGS Hair Restoration, Venus Concept, Vinci hair clinic, Bernstein Medical, Bosley, Dermamagnetica Clinic.
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The report analyzes these key players of the global hair transplant market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players of the market.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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