Hair Restoration Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

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The Hair Restoration Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Hair Restoration Global Market Report 2024, The hair restoration market size has grown rapidly in recent years. It will grow from $5.88 billion in 2023 to $6.58 billion in 2024 at a compound annual growth rate (CAGR) of 12%. The growth in the historic period can be attributed to increasing awareness, advancements in technology, aging population, changing lifestyles, regulatory approvals, cosmetic preferences, medical tourism.

The hair restoration market size is expected to see rapid growth in the next few years. It will grow to $10.4 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to personalized medicine, rising disposable income, healthcare infrastructure, digital health integration, environmental factors, consumer expectations. Major trends in the forecast period include technological integration, regenerative therapies, non-invasive treatments, telemedicine and digital platforms, customized treatment plans, sustainable practices, global collaboration.

The increasing popularity of hair transplants is expected to propel the hair restoration market going forward. Hair transplants are a surgical procedure where hair follicles are moved from a donor site to a balding or thinning recipient site to restore hair growth. Hair transplants are driven by advancements in surgical methods and precision tools, improving success rates and aesthetic treatment outcomes. Additionally, due to dust and pollution, people experience hair loss, which requires effective hair restoration solutions such as transplants. Hair transplants are widely utilized for hair restoration, effectively relocating healthy hair follicles to areas experiencing baldness or thinning to achieve natural-looking results. For instance, in April 2022, according to a report by the International Society of Hair Restoration Surgery, a US-based non-profit medical association, in 2021, the global number of hair restoration patients with surgical or non-surgical treatments reached 2.2 million, marking a 7% increase compared to the previous year. Therefore, the increasing popularity of hair transplants will drive the hair restoration market.

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The hair restoration market covered in this report is segmented –

1) By Procedure: Follicular Unit Extraction, Follicular Unit Transplantation
2) By Therapy: Low-Level Laser Therapy (LLLT), Stem Cell Hair Restoration, Platelet-Rich Plasma
3) By Gender: Male, Female

Major companies operating in the hair restoration market are developing advanced regenerative medicine, such as scalp serum, to nourish the scalp, reactivate hair growth, and combat hair loss. A scalp serum is a specialized topical formulation designed to improve the health of the scalp and hair follicles. For instance, in March 2024, BioPhotas Inc., a medical equipment manufacturing company, launched Restore Hair Serum. This innovative product, designed to complement the Celluma Light Therapy device, offers a comprehensive solution to combat hair loss. It is packaged in a dropper bottle for easy scalp absorption, as the serum is a blend of peptides, vitamins, and plant-based bionutrients. The key ingredients include recently, which nourishes hair follicle stem cells and reactivates growth; capital, a peptide that reduces DHT buildup in follicles, enhancing hair bonding and activity; and energy, a plant-based protein technology that strengthens and detoxifies hair roots.

The hair restoration market report table of contents includes:

1. Executive Summary
2. Hair Restoration Market Characteristics
3. Hair Restoration Market Trends And Strategies
4. Hair Restoration Market – Macro Economic Scenario
5. Global Hair Restoration Market Size and Growth
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32. Global Hair Restoration Market Competitive Benchmarking
33. Global Hair Restoration Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hair Restoration Market
35. Hair Restoration Market Future Outlook and Potential Analysis
36. Appendix