Executive Summary:

The hair restoration market is expected to grow at a CAGR of over 22% from 2021 to 2026. The market is being driven by an increase in the number of people seeking hair restoration procedures, as well as advances in technology that have made these procedures more effective and accessible. The non-surgical segment is expected to grow at a faster rate than the surgical segment, driven by the popularity of non-invasive options such as PRP therapy and low-level laser therapy.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights:

• The global hair restoration market was valued at USD 4.1 billion in 2020 and is expected to reach USD 13.6 billion by 2026.
• The non-surgical segment is expected to grow at a CAGR of over 25% from 2021 to 2026.
• Asia-Pacific is expected to be the fastest-growing region, driven by a large population and increasing awareness of hair restoration procedures.
• The COVID-19 pandemic has had a mixed impact on the hair restoration market, with some clinics experiencing a decline in business while others have seen increased demand as people spend more time at home.

Market Drivers:

• Increase in the number of people seeking hair restoration procedures.
• Advances in technology that have made these procedures more effective and accessible.
• Increasing awareness of the availability and effectiveness of hair restoration options.
• Growing disposable income and the desire for a youthful appearance.

Market Restraints:

• High cost of surgical hair restoration procedures.
• Potential side effects and risks associated with hair restoration treatments.
• Limited insurance coverage for hair restoration procedures.

Market Opportunities:

• Development of new hair restoration treatments and technologies.
• Growing demand for non-invasive hair restoration options.
• Expansion into new geographic regions.

Market Dynamics:

The hair restoration market is being driven by a combination of demographic and technological factors. The aging population and desire for a youthful appearance are driving demand for hair restoration procedures. Advances in technology, such as robotic hair transplantation and low-level laser therapy, are making these procedures more effective and accessible. The rise of direct-to-consumer channels is also making hair restoration more accessible to a wider range of people.

Regional Analysis:

North America is currently the largest market for hair restoration, followed by Europe and Asia-Pacific. Asia-Pacific is expected to be the fastest-growing region, driven by a large population and increasing awareness of hair restoration procedures. Latin America and the Middle East and Africa are also expected to experience significant growth in the coming years.

Competitive Landscape:

Leading companies in the Hair Restoration market:

1. Restoration Robotics, Inc.
2. Hair Restoration Blackrock (HRBR) Ltd.
3. Hair Club
4. Bosley, Inc.
5. Elite Hair Restoration
6. Bernstein Medical, P.C.
7. Advanced Hair Restoration
8. Venus Concept
9. Cole Instruments, Inc.
10. National Hair Centers

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation:

The hair restoration market can be segmented based on type, gender, service provider, and region.

By Type:

• Surgical
• Non-surgical

The surgical segment includes procedures such as hair transplantation, scalp reduction, and scalp expansion. The non-surgical segment includes medication, low-level laser therapy, PRP therapy, and others.

By Gender:

• Male
• Female

Hair loss affects both men and women, and hair restoration procedures are available for both genders. However, male hair loss is more common and typically more severe than female hair loss.

By Service Provider:

• Hospitals
• Clinics
• Direct-to-consumer

Hair restoration procedures are offered at hospitals and clinics, as well as through direct-to-consumer channels such as online marketplaces and home-use devices.

Category-wise Insights:

The hair restoration market can be categorized based on the type of procedure and the service provider.

By Procedure Type:

• Hair Transplantation: Hair transplantation involves taking hair follicles from a donor area and transplanting them to the recipient area.
• Medication: Medications such as finasteride and minoxidil are used to slow down or stop hair loss.
• Low-Level Laser Therapy: Low-level laser therapy uses low-energy laser light to stimulate hair growth.
• PRP Therapy: PRP therapy involves injecting platelet-rich plasma, a component of blood that contains growth factors, into the scalp to stimulate hair growth.
• Others: Other hair restoration procedures include scalp reduction, scalp expansion, and hair cloning.

By Service Provider:

• Hospitals: Hair restoration procedures are often performed at hospitals, particularly for surgical procedures.
• Clinics: Hair restoration clinics offer both surgical and non-surgical procedures.
• Direct-to-Consumer: Direct-to-consumer channels such as online marketplaces and home-use devices are becoming increasingly popular for non-surgical hair restoration options.

Key Benefits for Industry Participants and Stakeholders:

• Increased demand for hair restoration procedures and services.
• Opportunities for expansion into new geographic regions.
• Development of new hair restoration treatments and technologies.
• Growing demand for non-invasive hair restoration options.

SWOT Analysis:

Strengths:

• Growing demand for hair restoration procedures.
• Advances in technology that have made these procedures more effective and accessible.
• Large and growing target market.

Weaknesses:

• High cost of surgical hair restoration procedures.
• Potential side effects and risks associated with hair restoration treatments.
• Limited insurance coverage for hair restoration procedures.

Opportunities:

• Development of new hair restoration treatments and technologies.
• Growing demand for non-invasive hair restoration options.
• Expansion into new geographic regions.

Threats:

• Competition from existing players in the market.
• Government regulations and restrictions on hair restoration procedures.
• Economic and political instability in certain regions.

Market Key Trends:

• Increasing popularity of non-surgical hair restoration options.
• Growing use of robotic hair transplantation technology.
• Increasing availability of direct-to-consumer hair restoration options.

Covid-19 Impact:

The COVID-19 pandemic has had a mixed impact on the hair restoration market. While some clinics have experienced a decline in business due to reduced demand and safety concerns, others have seen increased demand as people spend more time at home and have more time to devote to self-care. The pandemic has also accelerated the trend toward online marketplaces and direct-to-consumer channels for hair restoration procedures.

Key Industry Developments:

• In 2020, Restoration Robotics launched a new robotic hair transplantation system, ARTAS iX, which offers improved precision and efficiency.
• In 2020, Bosley launched a new virtual consultation platform that allows patients to consult with physicians remotely and receive personalized treatment recommendations.
• In 2021, Hair Club announced a new non-surgical hair restoration option called Xtrands+, which uses a proprietary fiber technology

Analyst Suggestions:

• Companies should focus on developing new, innovative hair restoration treatments and technologies to stay ahead of the competition.
• Non-surgical hair restoration options are expected to continue to grow in popularity, so companies should invest in this area.
• Companies should consider expanding into new geographic regions to tap into growing demand for hair restoration services.

Future Outlook:

The hair restoration market is expected to continue growing in the coming years, driven by increasing demand for hair restoration procedures and advances in technology that have made these procedures more effective and accessible.

The non-surgical segment is expected to grow at a faster rate than the surgical segment, driven by the popularity of non-invasive options such as PRP therapy and low-level laser therapy. Asia-Pacific is expected to be the fastest-growing region, driven by a large population and increasing awareness of hair restoration procedures.

Conclusion:

The hair restoration market presents significant opportunities for companies that can stay ahead of the competition by developing new treatments and technologies, expanding into new geographic regions, and tapping into growing demand for non-surgical options. The market is being driven by demographic and technological factors, including the aging population, desire for a youthful appearance, and advances in technology.