Hair Restoration Services Market Size, Share, Demand & Trends Analysis Report by 2028

Industry Prospective:

The Global Hair Restoration Services Market Size was worth around USD 4,319.5 million in 2021 and is estimated to grow to about USD 10,043.5 million by 2028, with a compound annual growth rate (CAGR) of approximately 15.1%. over the forecast period. The report analyzes the hair restoration services market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the d hair restoration services market.

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Hair Restoration Services Market: Overview

Alopecia has been linked to both hormonal imbalances and aging as potential causes. A decline in estrogen levels in menopausal women or thyroid issues can cause hair loss. Androgen hormones, such as Dehydroepiandrosterone (DHEA) and testosterone, are significant hormones that can influence hair formation. In addition, gender influences illness vulnerability. Hair restoration is a surgical procedure used to treat hair loss (Alopecia) or baldness. It is a cosmetic procedure for women and men facing significant hair loss, bald spots, or thinning hair.

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Baldness and hair loss are prevalent in men due to genetic factors and age. In the U.S., 30 million women and 50 million men face hair loss. An increase in the number of people suffering from hair loss or Alopecia is one of the major reasons driving the demand for the global hair restoration service market. The rise in persistent self-consciousness, celebrity influence on personality, and societal influence to grow nicer & thicker hair are some of the major factors that have led to the adoption rate of hair restoration services. The hair restoration services market has been experiencing innovations and trends, resulting in more efficient and lucrative hair restoration services.

COVID-19 Impact:

The COVID-19 pandemic has impacted the hair restoration service industry to a great extent owing to the lack of preference for unnecessary and non-emergent surgical procedures among the population. Different regulatory bodies worldwide have also suggested that surgeons avoid all kinds of non-emergent surgical procedures due to the high risk of infection. Hence, the market was negatively impacted due to the Covid-19 pandemic.

Key Insights

• As per the analysis shared by our research analyst, the global hair restoration service market value to grow at a CAGR of 15.1% over the forecast period.
• In terms of revenue, the global hair restoration service market size was valued at around USD 4,319.5 million in 2021 and is projected to reach USD 10.043.5 million by 2028
• An increase in several people suffering from Alopecia will drive the growth of the global hair restoration service market.
• By service type, the follicular unit extraction segment accounted for a major market share in 2021
• By gender, the men segment dominated the hair restoration services market in 2021.
• The North American market accounted for a major revenue share in 2021

Hair Restoration Services Market: Growth Drivers

The rise in the number of people suffering from Alopecia and increasing self-consciousness regarding aesthetics drive the market growth

In the U.S., 30 million women and 50 million men face hair loss. An increase in the number of people suffering from hair loss or Alopecia is one of the major reasons driving the demand for the hair restoration service market. Increasing self-consciousness regarding aesthetics will further promote the growth of the global hair restoration services market.

Hair Restoration Services Market: Restraints

Side effects of hair restoration hinder the market growth

An increase in hair transplant procedures has also increased the concerns of end users regarding its side effects. Different medicines were reported to cause side effects on people. For instance, In March 2015, a lawsuit was filed by consumer-rights law firm Hagens Berman, alleging hair loss drug Propecia, which contains the active ingredient Finasteride, manufactured by Merck and Co Inc., results in serious side effects further resulting in depression which is followed by suicide attempts. Moreover, the medicine has reportedly caused serious effects, including permanent sexual dysfunction.

Hair Restoration Services Market: Opportunities

Development and innovation to present market opportunities

Innovation and development of new hair restoration treatment services will further provide better growth opportunities for players in the current market. There is a huge demand for treatments that do not cause any side effects and are harmless.

Hair Restoration Services Market: Challenges

The high cost of hair restoration treatment hinders the market growth

The cost of hair restoration treatment is high, and it is still difficult for many target customers to afford these services. Hence, the global hair restoration services market is stagnant in countries with lower disposable income and low purchasing power.

Recent Developments

• March 2022: 'CMX,' also known as 'Anacell,' was developed by the D.Nature company. The active ingredient of CMX is Brevilin A, a naturally occurring compound that has been shown to impact hair restoration positively.
• July 2021: Stemson Therapeutics announced closing a DCVC Bio-led USD 15 million Series A financing for advancing Stemson's proprietary therapeutic solution to cure hair loss. AbbVie Ventures, Genoa Ventures, and other investors support Stemson's efforts to restore human hair growth with a novel cell regeneration technology using the patient's cells to generate new hair follicles.

Hair Restoration Services Market: Segmentation

The global hair restoration services market is segregated based on service type, gender, service, and provider.

Based on service type, the market is divided into follicular unit extraction, follicular unit transplantation, laser treatment, follicular unit strip surgery, and others. Among these, the follicular unit extraction segment dominated the market in 2021, accounting for more than 34 percent of the total market. This is because follicular unit extraction—a cutting-edge, minimally invasive hair transplant technique—allows for the removal of individual follicles from the donor area—the back of the head—while guaranteeing that no linear scar is left behind.

Based on gender, the market is classified into male and female. Over the forecast period, the male segment will be the largest market. The occurrence of Alopecia is more in men, and hence men are the larger segment in the market. Androgenetic Alopecia, a frequent disorder where excessive levels of male hormones in hair follicles prevent hair development on the scalp, is another name for male-pattern baldness.

Based on the service provider, the market is classified into hospitals, clinics, and surgery centers. The clinic's segment dominated the market in 2021, accounting for a major share of global revenue. Hair clinics provide specific hair restoration services; hence, it is the major segment because most reputable hair restoration therapy providers operate their private clinics. These clinics have all the tools they need to perform various hair restoration procedures, such as follicular unit extraction (FUE), follicular unit transplantation (FUT), and laser treatments.

Hair Restoration Services Market: Report Scope

Hair Restoration Services Market: Regional Landscape

North America dominated the global hair restoration services market in 2021

North America is considered a dominant region in the global hair restoration services market, with a large target population. People aged between 30 and 60 years witness such hair loss problems. Their population is comparatively high in North America, which will further promote the hair restoration services market in the region.

The rise in awareness about hair restoration services, the high rate of adoption of hair transplant treatment owing to technological advancements, and increased physician prescriptions in the U.S are expected to drive the North American hair restoration services market.

Hair Restoration Services Market: Competitive Landscape

Some of the main competitors dominating the global hair restoration services market include -

• Direct Hair Implantation International
• iGrow Laser
• Bosley Inc
• Elite Hair Restoration
• National Hair Centers
• NeoGraft
• Lexington Intl. LLC
• Bernstein Medical
• Cole Hair Transplant Group

Global Hair Restoration Services Market is segmented as follows:

By Service Type

• Follicular Unit Extraction
• Follicular Unit Transplantation
• Laser Treatment
• Follicular Unit Strip Surgery
• Others

By Gender

• Male
• Female

By Service Provider

• Hospitals
• Clinics
• Surgery Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa