Pune, India, Oct. 06, 2021 (GLOBE NEWSWIRE) -- The US Hair Transplant Procedure Market is expected to gain traction by reaching 231,720 by 2027 while exhibiting a CAGR of 6.1% between 2020 and 2027. Fortune Business Insights in its report, titled “US Hair Transplant Procedure Market, 2020-2027.”, observes that the market stood at 170,510 in 2019.
The rising spending capacity on cosmetic surgeries and the increasing prevalence of hair loss problems among both men and women in the U.S. is expected to favor the adoption of the product in the forthcoming years. According to the American Society of Plastic Surgeons, in 2019 around USD 16.7 billion was spent by the people in the U.S. on cosmetics procedures that included hair transplant, hair removal, ear surgery, etc.
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Industry Development
- March 2018 – HairMax secured an approval for its HairMax Laser devices by ANVISA. The company reports that these devices are effective in treating hair loss and thinning hair problems. Also, it further aids in hair growth promotion.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.1% |
| 2028 Value Projection | USD 231.72 Billion |
| Base Year | 2019 |
| Market Size in 2020 | USD 170.5 Billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 40 |
| Segments covered | Type, Age Group, Gender and Geography |
| Growth Drivers | Backed by Increasing Adoption of Novel Technology in Procedures |
| Owing to Increasing Focus on Development of Innovative Procedures by Companies | |
| The growing adoption of follicular hair transplantation (FUT) and follicular unit extraction (FUE) procedures have led to an increasing efficacy of the treatment |
The COVID-19 pandemic has had a seismic effect on several economies across the globe. To curb the pandemic spread, the governments of several countries have ordered complete lockdown of industrial and human activities. This is expected to have a significant impact on the market in 2020. However, proactive steps by the industry leaders to revive the economy will bode well for the growth of the market in the near future.
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Market Segmentation:
Male Segment to Dominate; 50 Million Men Suffering from Hair Loss to Aid Growth
Based on type, thismarketis bifurcated into follicular hair transplantation (FUT) and follicular unit extraction (FUE). Furthermore, on the basis of age group, the market is divided into 20-29, 30-39, 40-54, and 55 & above. Based on gender, the market is classified into men and women.
- On the basis of gender, the male segment is expected to hold the largest U.S. hair transplant proceduremarket share in terms of revenue during the forecast period. This is owing to the rising number of males in the U.S. suffering from hair loss issues. For instance, in 2019, around 50 to 53 million menexperienced hair loss.
What does the Report Include?
The marketreport includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
DRIVING FACTORS
Increasing Prevalence of Hair Loss Issues to Augment Growth
According to the International Society of Hair Restoration Surgery, around 35 million men in the U.S. experience hair loss problems, while about 21 million women are generally affected from hair loss ailments annually. The increasing incidence of hair loss among people has led to a significant advancement in hair transplantation. For instance, the growing adoption of follicular hair transplantation (FUT) and follicular unit extraction (FUE) procedures have led to an increasing efficacy of the treatment. In addition to this, the procedures are quick, cause less or no discomfort to the patients, and leave less intense scarring. Therefore, the increasing prevalence of baldness and the rising spending capacity of the people for treatment solutions is anticipated to boost the U.S. hair transplant proceduremarket growth during the forecast period.
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COMPETITIVE LANDSCAPE
Major Companies Invest in R&D Activities to Strengthen Their Market Positions
The market is consolidated by major companies such as Restoration Robotics, Inc., Venus Concept, and Cole Instruments Inc., among others that are striving to maintain their presence. They are doing so by investing in R&D activities to develop advancedhair transplant procedureto gain a strong footprint in the U.S. Additionally, other players are adopting organic and inorganic strategies to maintain a stronghold that will contribute to the growth of the market during the forecast period.
List of the Companies Profiled in this Market:
- Cole Instruments Inc. (Georgia, United States)
- CAPILLUS Inc. (Florida, United States)
- LaserCap Company (Ohio, United States)
- Apira Science (Florida, United States)
- Venus Concept (Toronto, Canada)
- THERADOME (California, United States)
- Restoration Robotics, Inc. (California, United States)
- Other Prominent Players
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TABLE OF CONTENTS:
- Introduction
- Research Scope
- Acronyms Section
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Epidemiology Data
- Epidemiology of Hair Loss, U.S., 2019
- Number of Cases Suffering From Hair Loss (Millions), By Gender, 2019
- Prevalence of Hair Loss (%), By Gender, 2019
- Prevalence of Noticeable Hair Loss, By Age and Gender, U.S., 2019
- Impact of COVID-19 on Hair Transplant Procedure Market
- Major Factors
- Steps Taken to Minimize the Impact of COVID-19 in Hair Transplant Industry
- Opportunities offered by COVID-19 – Hair Transplant Industry
- U.S. COVID-19 Impact on Hair Transplant Procedure Market Size, 2019-2021
- U.S. Hair Transplant Procedure Volume
- U.S. Hair Transplant Procedure Volume, Forecast and Analysis, 2016-2027
- Distribution of Hair Transplant Procedure in the U.S.
- By Age Group
- By Gender
- By Procedure Type
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