The Global Hair Restoration Industry is gearing up for a momentous transformation, with Future Market Insights (FMI) projecting revenues to reach an estimated US$ 4.9 billion in 2021. FMI’s latest comprehensive report unveils a robust growth trajectory, foreseeing an impressive Compound Annual Growth Rate (CAGR) of 18.2% from 2022 to 2032. This trajectory positions the industry to achieve a substantial valuation of US$ 30.8 billion by the end of 2032.
The exceptional growth outlook is underpinned by a convergence of factors propelling market expansion. The escalating prevalence of alopecia, coupled with a rise in global disposable income and evolving lifestyles, emerges as pivotal drivers for the industry’s prosperity. Furthermore, the commendable success rates of hair transplantation procedures and ongoing technological innovations in minimally invasive hair replacement techniques significantly contribute to the market’s upward trajectory.
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The market is gaining pace 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.
Furthermore, many hair stylists now blend these two treatments for the best aesthetic results. One of the key reasons for their popularity is that hair restoration methods have gotten less invasive in recent years. The MEA region can be projected to be the most lucrative region in this market during the forecast period, 2022- 2032.
Global Hair Restoration Industry Competitive Analysis
The Global Hair Restoration Industry’s vibrant competition stems from the increasing number of brands offering cutting-edge technology in hair restoration. These brands are continuously enhancing features to deliver the optimal consumer experience while maintaining affordability across various income brackets. Additionally, the growing e-commerce sector further fuels market growth. Key industry players including Bernstein Medical, Milla Marie, Cole Hair Transplant Group, Lexington Intl., and Bosley are at the forefront of this dynamic landscape.
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Recent noteworthy developments by key Hair Restoration providers include:
- May 2019 Milestone: Both Hair Club and Bosley unveiled their groundbreaking product, BioGraft. This remarkable innovation represents a fusion of meticulous and non-surgical hair restoration techniques. The introduction of BioGraft significantly expanded the companies’ hair relocation product portfolios. These industry leaders are deeply committed to Research and Development to pioneer technologically advanced products.
- February 2018 Acquisition: In a significant move, Venus Concept announced the acquisition of NeoGraft Solutions’ hair restoration business. NeoGraft was known for its pioneering technology and topical products in the hair restoration field.
Top Key Companies Profiled in the Global Hair Restoration Industry:
- Bernstein Medical
- Bosley
- Harley Street Clinic
- Advanced Hair Studio
- Milla Marie
- Lexington Intl., LLC
- Venus Concept
- Cole Hair Transplant Group
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Some of the recent developments of key Global Hair Restoration providers are as follows:
- In May 2019, Hair Club and Bosley both reported the delivery of BioGraft. For a great change, the development enhancement combines meticulous and nonsurgical hair rebuilding. This new item shipment aided in the expansion of the company’s hair relocation product portfolio. The company invests heavily in R&D to develop mechanically advanced products.
- In February 2018, Venus Concept announced the acquisition of NeoGraft Solutions’ hair restoration business. Neograft was a hair restoration technology and topical product developer.
Segments Covered in Global 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
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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