Global Hair Restoration Market Size & Share Analysis Report 2023-2028: A Fragmented Market with Numerous Global and Regional Companies Vying for Dominance - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Hair Restoration Market Size & Share Analysis - Growth Trends & Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.

The hair restoration market is poised for substantial growth, with projections indicating an increase from USD 6.34 billion in 2023 to USD 9.73 billion by 2028, reflecting a robust CAGR of 8.96% during the forecast period from 2023 to 2028.

This market landscape is characterized by fragmentation, with numerous global and regional companies vying for market share. Key players include Bernstein Medical, Cole Hair Transplant Group, Elite Hair Restoration, Aderans (Hair Club), Hairline International Hair and Skin Clinic, Apira Sciences Inc. (iGrow Laser), Lexington Intl. LLC, Illumiflow, National Hair Centers, NovaGenix, Theradome, and Venus Concept.

Several factors are driving this market's growth, including the rising popularity of hair transplants and the increasing prevalence of dermatological disorders leading to hair loss. Notably, androgenetic alopecia impacts a significant portion of the population, affecting 15% of women and 50% of men, with a notable impact on postmenopausal women. Furthermore, the global burden of cancer and the widespread use of chemotherapy are expected to contribute to an uptick in hair restoration procedures.

Statistics from the United Kingdom Hair Transplant report for 2021 reveal that alopecia or hair loss affects approximately 21 million women and 35 million men worldwide, with over 650,000 individuals opting for hair transplants as their primary treatment annually. The global interest in hair transplant surgery continues to rise, serving as a catalyst for market expansion.

The hair restoration market is also benefiting from technological advancements in hair transplant devices and the introduction of innovative services worldwide. For example, in April 2022, Hermest Hair Clinic (HHC) launched a cost-effective and unique follicular unit extraction (FUE) method service for hair transplants in Turkey. Such developments are anticipated to further bolster the market's growth trajectory.

However, certain challenges, such as cost constraints, the need for extensive post-surgery care, and the potential for adverse side effects, may act as constraints on the hair restoration market. Nevertheless, the overall outlook remains positive, with the market expected to experience significant growth in the forecast period.

Hair Restoration Services Market Trends

Scalp Segment is Expected to Hold a Significant Market Share

The scalp segment of the hair restoration market is anticipated to account for a major market share during the forecast period. The target population for this segment includes men suffering from pattern baldness, women with thinning hair, and victims of scalp or burn injuries.

Owing to the increasing popularity of the scalp treatment segment, the market players are strategizing to increase their market share and are coming up with innovative products and seeking approvals. For instance, in April 2022, ExoCoBio Inc. launched ASCE HRLV for scalp rejuvenation and hair loss. ASCE+ HRLV is targeted for the scalp rejuvenation and hair loss market and is expected to rapidly expand its market share by introducing four effects: scalp rejuvenation, hair loss care, improvement of hair anti-aging, and trouble prevention. It is designed to care for scalp and hair regardless of age and gender.

In December 2021, QR 678 Neo, a hair loss treatment, was launched in the United Kingdom. The FDA-approved and patented product claimed to offer over a 90% success rate, and it is a nonsurgical alternative with economical prices starting from around a fifth of the cost of a hair transplant. Owing to the advantages offered by such products for scalp nourishment and reducing hair loss, the scalp segment is expected to witness lucrative growth during the forecast period.

North America is Expected to Hold a Significant Market Share

North America is expected to hold a significant share of the hair restoration market due to the presence of a large target population base in this region and technologically advanced clinics.

The rising number of hair transplant surgeries and the presence of many market players in the region are also giving rise to the number of product launches and expansions in the market. For instance, in July 2021, Stemson Therapeutics received a DCVC Bio-led USD 15 million Series A financing to advance the development of Stemson's proprietary therapeutic solution to cure hair loss.

The funding is estimated to boost technological advancements in products and increase the demand for hair restoration products and services in the region during the forecast period.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Popularity of Hair Restoration

4.2.2 Increasing Prevalence of Various Forms of Dermatological Disorders Leading to Hair Loss

4.3 Market Restraints

4.3.1 Cost Constraints

4.3.2 High Post-surgery Care along with Adverse Side Effects

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION (Market Size by Value - USD million)

5.1 By Recipient Area

5.1.1 Scalp

5.1.2 Non-scalp

5.2 By Treatment

5.2.1 Follicular Unit Extraction (FUE)

5.2.2 Follicular Unit Transplant (FUT)

5.2.3 Laser Therapy

5.2.4 Stem Cell Therapy

5.2.5 Other Treatments

5.3 By End User

5.3.1 Hospitals

5.3.2 Clinics

5.3.3 Other End Users

5.4 By Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Bernstein Medical

6.1.2 Cole Hair Transplant Group

6.1.3 Elite Hair Restoration

6.1.4 Aderans (Hair Club)

6.1.5 Hairline International Hair and Skin Clinic

6.1.6 Apira Sciences Inc (iGrow Laser)

6.1.7 Lexington Intl. LLC

6.1.8 Illumiflow

6.1.9 National Hair Centers

6.1.10 NovaGenix

6.1.11 Theradome

6.1.12 Venus Concept

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/bgd0qp

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