A surgical procedure known as hair transparent is performed to treat baldness and hair removal. It is a medical technique that can assist to fill in scars from accidents or operations as well as restore hair loss from the body, including the scalp, eyelashes, brows, beard hair, and chest hair. Small pieces of hair-bearing scalp grafts are typically extracted from a donor region and implanted to a balding or thinning area during hair transplant surgery. The principal condition addressed by this approach is male pattern baldness. In general, hair transplants are more effective than over-the-counter hair restoration products. Hair loss can be caused by a chronic dermatological illness that affects anyone. Everyone, regardless of age or gender, can experience hair loss. Despite the fact that it is routinely used to treat male pattern baldness, hair transplantation can also be known to cure female population balding and hair thinning.
According to SPER market research, ‘Hair Transplant Market Size- By Surgical Procedure, By Service Provider, By Gender, By Product, By Therapy, By Surgery Type- Regional Outlook, Competitive Strategies and Segment Forecasts to 2032’ state that the Hair Transplant Market is predicted to reach USD 38.54 billion by 2032 with a CAGR of 20.6%.
The amount of hair restoration treatments, the prevalence of alopecia, and technological advancements in the hair transplant sector are the primary factors driving the global market for hair transplants. Changing lifestyles, societal pressure, increased awareness of the importance of beauty, media effect, an increase in the number of patients in developing countries, and rising disposable income are all factors influencing the market. Hair loss is a growing market driver as the prevalence of chronic diseases such as cancer, hyperthyroidism, and hypothyroidism rises. Chemotherapy, for example, is used to treat cancer diseases, but it causes hair loss. The rising usage of chemotherapies, which induce hair loss, has raised the demand for hair transplant procedures. As a result of increased product approval and new releases, the market for hair transplant operations is growing.
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However, the hair transplant market faces challenges including high costs, limiting access for many individuals. Safety and efficacy concerns can impact patient decisions, with worries about complications or success rates. Availability of skilled professionals can be limited, leading to long waiting lists or restricted access to qualified surgeons. Managing patient expectations and achieving satisfactory outcomes is a challenge, as success depends on various factors such as hair characteristics and realistic expectations. Addressing these challenges requires addressing cost barriers, ensuring safety and efficacy through advancements, expanding the pool of skilled professionals, and effectively managing patient expectations for a thriving hair transplant market.
COVID-19 Impact on Global Hair Transplant Market
In addition, the COVID-19 is expected to have a negative influence on the global market for hair transplants. The pandemic of COVID-19 has a substantial impact on hair transplant procedures. A number of clinics and hospitals were reorganized to increase hospital capacity for COVID-19 patients. Non-essential surgical procedures have been postponed due to the epidemic. Non-emergency hair transplant treatments substantially reduce hair transplant clinic earnings.
Overall, North America is generally considered the largest target market for the global hair transplant market. Factors such as a high prevalence of hair loss, high disposable income, advanced healthcare infrastructure, and cultural beauty standards contribute to the region’s prominence. However, other regions like Europe, Asia-Pacific, and the Middle East also have significant markets in the hair transplant industry. Additionally, some of the market key players are Theradome, Igrow, Venus Concept, Illumiflow, NovaGenix including others.
Global Hair Transplant Market Segmentation:
By Surgical Procedure: (Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE), Combination of FUE and FUT, Others),
By Service Provider: (Dermatology clinics, Hospitals, Trichology Clinics, Surgical Centers and Others),
By Gender: (Female and Male),
By Product: (Gel, Serum, Drugs, Multivitamins and Others),
By Therapy: (Platelet-Rich Plasma Therapy (PRP), Stem Cell Therapy, Laser Therapy and Others),
By Surgery Type: (Head Hair Transplant, Eyebrow Transplant, Frontal Hairline Lowering or Reconstruction and Others).
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