Hair Transplant Market Value to Reach US$ 32.4 Bn by 2026

LOS ANGELES, Jan. 16, 2020 /PRNewswire/ -- Hair Transplant Market value is expected to reach around US$ 32.4 billion by 2026 registered with CAGR of 22.7%.

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North America dominated the hair transplant market in the year 2018. Different huge purposes behind the predominance are factors such as government initiatives, investments made by the major companies, and advancements in hair transplants technology, coupled with high acceptance among the customers, especially in the US and Canada. Some of the potential drivers for the growth of the hair transplant market are growing celebrity and media influences, increasing awareness regarding one's appearance, peer pressure, societal pressure, growing urbanization, high income, and growing word of mouth. North America, followed by Europe and Asia-Pacific, holds the largest market share. People in this region aged above 30 years undergo hair transplant owing to hormonal changes in women, poor dietary habits, reduced nutrition levels, and increased psychological stress. Though, Asia-Pacific is relied upon to rise as the quickest developing locale regarding a piece of the pie. The development of the Asia-Pacific will have healthy growth during the forecast period. The hair transplant market in Europe will have a notable growth during the forecast period. Different variables driving the development of the hair transplant showcase in the locale remember developing urbanization for France, Germany, and the UK, lower expenses of hair transplant medications, headway in innovation in skincare and beautifying agents, and undesirable dietary patterns of young people and grown-ups. Strategic approaches by major players such as geographical expansions, new product launches, partnerships, and collaborations in the market also are expected to accelerate the market growth

Asia-Pacific is expected to register the highest CAGR during the forecast period. The growing hair transplant industry, high research, and development from transplant manufacturers, an increasing number of poor nutrition and stress is considered as two major factors accountable for the growth in this region. With 51% of the population, suffering from stress either because of work or because of other personal issues further expected to boosts the demand for hair transplants in the region during the forecast period.

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Clinical Segment has dominated the service provider segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period from 2019 to 2026. The ability of clinics to provide technologically advanced treatments combined with rising business sector interest for single session hair rebuilding methods gave by facilities will drive the segmental development. Also, strength centers take into account the necessities of Alopecia areata patients just as give affordable hair reclamation medical procedures will decidedly affect the market standpoint.

Men segment dominated the hair transplant market on the basis of gender type in the year 2018. Hair transplant procedures have been opted by men on a large scale in the past few years. According to the International Society of Hair Restoration Surgery, the percentage of men undergoing hair transplant surgery increased from 84.7% in 2014 to 85.7% in 2016. There are different factors leading to the restoration procedures like rising work pressure, stress, improper eating habits, heredity and exposure to chemicals among others cause hair fall. Furthermore, improvement in hair transplant technologies is expected to offer wide growth opportunities for the players operating in the hair transplant market during the forecast period.

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Some of the key manufacturing companies include in the global hair transplant market are MEDICAMAT, Bernstein Medical, Restoration Robotics, Cole Instruments Inc., CAPILLUS, LaserCap Company, Apira Science, Harris FUE Instruments, HairMax Inc., Shaanxi Xingmao Industry Co., Ltd, and Restoration Robotics, Inc. among others.

Some of the key observations regarding global surgical robotics industry include:

• The most recent update for this market is that the prestigious American football and baseball players Deion Sanders chose to experience a hair transplant medical procedure. His medical procedure ended up being a 100% achievement and he likewise posted an image on his online networking pages as a proof of it. As progressively open figures start freely talking about such medical procedures, the market is relied upon to gather immense advantages.
• In March 2019, Restoration Robotics entered into definitive merger agreement with Venus Concept. The strategy was aimed at becoming the leading player in minimally invasive hair restoration market.
• In May 2019, Bosley and Hair Club launched BioGraft, new technology in hair loss solutions. This new product caters to the need of men and women as well as combines advanced surgical hair restoration technique Follicular Unit Extraction (FUE) with Xtrands+, non-surgical solution for hair loss.

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