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Hair Restoration Treatment Market
The global hair restoration treatment market is prognosticated to value over US$ 21 billion by the end of 2026 and grow at a CAGR of over 20% during the forecast period of 2019-2026.
Stress and hectic lifestyle are causing concerns like hair loss and balding. Also, other reasons for causing hair loss are consumption of alcohol, unhealthy food habits which are a direct or indirect consequence of a stressful lifestyle. Therefore, hair restoration and hair transplant treatments are on the rise these days.
One of the foremost reasons for this trend is the awkwardness that people have to face due to lack of hair on a daily basis. Innovative techniques like follicular grafting are more effective than traditional methods which have led to the growth of the market worldwide. Modality systems like lasers, plasma injections and stem cell therapy have further boosted the market growth. Organic growth strategies are being considered by manufacturers for strengthening the portfolio and to up the game in research activities.
Insights of Hair Restoration Treatment Market:
1. By Region
> North America
> Asia Pacific
> Latin America
> Rest of the world
The global hair restoration treatment market is led by North America and Europe regions due to a higher spending capacity of the general public. Out of the two, North America is a major stakeholder due to appearance, peer pressure, high income, growing urbanization, societal pressure. Europe and Asia Pacific regions have a share of more than 40% in the global market and the major reason is the adoption of advanced technologies by emerging economies like India. Latin America is a fast-growing region due to an increase in end-user segment penetration. Rest of the world possesses a smaller fraction and is the second fastest growing region in the global market.
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2. By Treatment Type
> Follicular Unit Strip Surgery (FUS)
> Follicular Unit Extraction (FUE)
FUE is expected to see a rise in the global market during the forecast period as compared to FUS as it is pain-free virtually, it has a faster healing time and creates less number of scars on the body as it is a non-invasive procedure. FUE will be more trending in the North American and European markets due to their high spending capacity. However, FUS will be widely used in the emerging economies and economies with a higher number of middle-class population as it is less expensive than FUE.
3. By End-User
> Speciality clinics
> Outpatient centres
Hospital hair transplant and restoration business are expected to witness a rapid rise in the global market due to the increase in the number of multi-speciality hospitals creating more opportunities for hair restoration and transplant surgeries. Also, the facilities provided by the hospitals which help in getting a clear diagnosis of hair loss disorders can boost the market segment further as it guides for a future line of treatment. Clinic hair transplant business generated maximum revenue in the year 2017 and is expected to do the same during the forecast period. One of the reasons for this to happen is a rising demand for single session hair restoration treatment which the clinics are able to provide efficiently.
4. By Therapy
? Platelet Rich Plasma (PRP)
? Stem cell therapy
? Laser therapy
PRP therapy segment dominates the global market. It accounted for around USD 230 million in the year 2017. According to a report from the International Society of Hair Restoration Surgery (ISHRS), about 58.8% of patients were treated with PRP therapy worldwide. Faster healing rate and minimal scarring will result in an increase in demand for PRP therapy leading to more business opportunities. On the other hand, stem cell market is also expected to grow at a rapid rate during the forecast period. As per the ISHRS report, more than 53% of clinicians favour stem cell therapy due to the various side effects of the currently approved drugs.
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> Restoration Robotics
Igrow's Low-Level Light Therapy (LLLT) at an approximate wavelength of 655 nanometres can help in reenergizing healthy follicle cells and stimulate and stabilize hair production correspondingly. This non-invasive therapy will help them gain some traction in the global market during the forecast period. The ARTAS iX robotic hair restoration system of restoration robotics Inc. uses robotic and AI technology for precise and efficient harvesting with simultaneous implantation and recipient site-making. This utilization of advanced technology will help them gain a good growth rate in the market during the forecast period.
FutureWise Key Takeaways:
> Growth prospects
> SWOT analysis
> Key trends
> Key data-points affecting market growth
Objectives of the Study:
> To provide with an exhaustive analysis on the global hair restoration treatment market by region, by treatment type, by end user, by therapy, by market players
> To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
> To evaluate and forecast micro-markets and the overall market
> To predict the market size, in key regions (along with countries)?North America, Europe, Asia Pacific, Latin America, and rest of the world
> To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
> Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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