IBISWorld Industry Market Research: The U.S. Hair Loss Treatment Manufacturing Industry is Expected to Earn Revenue of $3.6 billion in 2016
According to the latest available data from the International Society of Hair Restoration Surgery, 85.4% of individuals demanded hair loss treatment in 2015. For this reason, industry research firm IBISWorld has updated a report on Hair Loss Treatment Manufacturing.
NEW YORK, Dec. 15, 2016 /PRNewswire/ -- The Hair Loss Treatment Manufacturing industry includes companies that produce restorative hair equipment such as grafts for hair restoration, as well as oral and topical treatments.
Hair loss affects both females and males, with some forms of hair loss, such as involutional alopecia, becoming more prevalent with age. Following hair transplants, some patients require additional treatment, which further spurs industry revenue growth. Over the five years to 2016, industry revenue is expected to decline an annualized 1.5% to $3.6 billion as a strengthening dollar constrains exports and producers lower prices in response to increased competition abroad. However, the proliferation of low-cost generic oral hair loss treatments has made industry products more accessible to consumers in recent years, resulting in an expected 1.6% increase in industry revenue in 2016 alone.
According to IBISWorld Industry Analyst Evan Hoffman, "Over the next five years, the advent of new treatments will likely provide a boon to the industry." For example, some researchers are developing methods to boost hair follicle regeneration, which may result in new industry products. New treatment options may also result in superior patient outcomes, enabling some industry operators to garner a strong customer following. Consequently, industry revenue is forecast to grow over the five years to 2021.
Industry Performance Products & Markets Globalization & Trade Major Companies Operating Conditions Key Statistics
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