According to the newly released Hair Restoration industry analysis report from Future Market Insights, global sales of Hair Restoration in 2021 are expected to be US$ 4.9 billion. The projected market growth rate from 2022 to 2032 is 18.2%, which is significantly higher than the historical rate. With a CAGR of more than 19% between 2022 and 2032, Follicular Unit Extraction is expected to be the most profitable procedure type.
Rising global disposable income, rising alopecia prevalence, and changing lifestyles among the global population are all driving market growth. This progression could be attributed to the increased success rate of hair transplantation surgeries, as well as technological advancements in the field of less invasive hair replacement. Excessive cigarette and alcohol consumption, as well as rising stress levels, have been identified as major triggers for the condition.
Although the exact cause of the disease is unknown, hereditary factors have been linked to a few cases. Increased disposable income and an emphasis on aesthetics in development are also expected to stimulate the business.
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, the market is picking up speed. Furthermore, for the best aesthetic results, many hair stylists now combine these two treatments. One of the primary reasons for their growing popularity is that hair restoration procedures have become less invasive in recent years. During the forecast period of 2022 to 2032, the MEA region is expected to be the most profitable region in this market.
The growing number of brands offering cutting-edge technology Hair Restorations, continuous development of characteristics offering the best consumer experience and at prices suitable for different income groups, and a growing e-commerce sector all contribute to market growth. The key players such as Bernstein Medical, Milla Marie, Cole Hair Transplant Group, Lexington Intl., and Bosley
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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