Hair Transplant and Expectation
A hair transplant is a simple surgical procedure in which the hair is extracted from the donor area and planted into the bald area of the head. Hair loss is classified into different types
- Androgenetic alopecia
- Alopecia areata
- Anagen effluvium
- Telogen effluvium
The market size of hair transplants between 2024 and 2028
The market size of hair transplants in the past 2 years is $5 billion and In 2024, the market size is $6.91 billion and still continuously growing at a rate of 8.9% CAGR. The major participants in the hair transplant market are Turkey, India, the USA, and the U.K.
During the last few decades, people have experienced rapid hair loss and several people will increase in the upcoming years. The condition is called alopecia areata, in which the immunity system attacks hair follicles causing hair loss.
The Famous Hair Transplantation Techniques That Used in the Market
- FUE stands for follicular unit extraction, This is the most preferred hair transplant technique in which the individual hair follicles are extracted from the donor area and planted individually in the bald area. This hair transplant has a 95% to 100% success rate. More than 40% of people choose the FUE technique for their hair transplant.
- FUT stands for Follicular unit transplantation, which is a traditional hair transplant technique with the help of new technologies the success rate of this hair transplant is the same as the FUE technique. In this technique, a small piece of strip of scalp skin is extracted from the donor area and planted into a bald area. Each strip consists of a group of 1-4 hair follicles which are planted in the same place.
- FUSS stands for Follicular unit strip surgery in which a long scalp skin is extracted from the donor area and planted into the bald area. This technique is famous for its natural result. However, the success rate of this surgery is 90% to 95%. This surgery increases the chances of permanent hair scarring in the donor area.
Factors that influence the current and future market size of hair transplants
- Disposable income: As people’s disposable income increases. It has a higher chance that they will afford the transplantation. The cost of a hair transplant is decreasing continuously because of competition, technological advancement, and minimal invasion requirements.
- Normalization of hair transplantation: In 2024, almost every individual will be aware of hair transplant and it is considered a very normal and common surgeon. Hair plays an important role in our professional and personal life. Actors and fashion models prefer hair transplants over hair wigs because of their natural looks. Almost very model and actors taking multiple therapies to maintain their natural hairs.
- Technological advancement: In 2024, medical technologies are so advanced that we don’t need to worry about any complications and risks regarding hair transplants. The technologies used for hair transplants are microscopic cameras, Virtual reality, and Artificial intelligence.
- Medical tourism: Many countries offer affordable hair transplants to promote medical tourism and attract foreign patients from all over the world. Some countries that offer affordable hair transplants are India, Turkey, the USA, and the UK. Many people from different countries come to these countries for tourism and hair transplants.
- Social acceptance: Nowadays transplanted hair looks natural. It is hard to tell the difference between real hair and transplanted hair. Hair is associated with confidence and self-esteem. People with hair are seen as less confident and unapproachable.
Other sectors that will be affected by the hair transplant market
As hair transplant is expanding in 2024-2028, new hair care products, medicines, and styling salons have also shown remarkable growth in upcoming years.
- Hair care products sector: This sector has shown drastic growth in the last decade. But to maintain the same growth in upcoming years. it is important to introduce new products which are specialized, more transparent. The most important is that products are approved by dermatologists. The hair care sector showed a revenue of $93.7 billion in 2024 and a growth rate of 2.80% CAGR during 2024 to 2028.
- Hair med-products sector: In 2024, people are showing interest in meditational treatment for hair loss like minoxidil, finasteride, saw palmetto, and others. These medicines also enhance the result of transplants. As we know the project of hair transplants expanded during 2024-2028. The market growth of these med-products sectors is guaranteed. The total revenue of this sector in 2024 is $23 billion with a growth rate of 5.83% CAGR from 2024 to 2028.
- Hair care supplement: Hair issues like thinning, hair fall, shredding, and hair loss are also seen in those who have not shown any nutrient deficiencies which is the reason dermatologists prescribe specialized hair care nutrient supplements and topical solutions. The hair care supplements sector has been launched in recent years. It shows a growth rate of 9% CAGR in between 2024-2028. Total revenue of this sector in 2024 is $1.8 billion.
Conclusion
The hair transplant market showing massive growth in upcoming years. It is a beneficial situation for everyone. The cost of hair transplants is decreasing due to competition, medical tourism, and technological advancement. Some countries offer hair transplants at very affordable prices. For example, the best hair transplant in India costs around $1400 which is very affordable compared to other countries like the USA, and the UK. Some sectors that will grow with the hair transplant market expansion are the hair care products sector, hair-medication sector, and hair-care supplement sector.