Hair Transplant Market to Reach 28.1% CAGR till 2026; Rising Technological Developments to Augment Growth

The global hair transplant market size is projected to reach USD 43.13 billion by 2026. It is likely to gain from the ongoing developments in technology owing to the introduction of robotics. Prominent clinics and transplantation centers are putting their efforts in enhancing the sophistication of the pre-existing techniques to achieve more effective outputs. This information is given by Fortune Business Insights™ in a recent study, titled, “Hair Transplant Market Size, Share & Industry Analysis, By Type (Surgical and Non-surgical), By Gender (Male and Female) By End User (Hospitals & Clinics and Hair Transplant Centers), and Regional Forecast, 2019-2026.” The study further mentions that the market stood at USD 5.94 billion in 2018. However, it is set to exhibit a CAGR of 28.1% during the forecast period between 2019 to 2026.

Follica Conducts Study to Treat Males with Androgenetic Alopecia

In December 2019, Follica, a biotechnology company specializing in the development of platform technology for hair loss, headquartered in the U.S., conducted a safety and efficacy optimization study for treating males suffering from androgenetic alopecia. It was especially created by blending a topical drug and the company’s proprietary device. The results of this study showcased a considerable improvement of 44% of non-vellus hair count after a period of 3 months, unlike baseline.

The company’s in-house device is named the Follica Hair Follicle Neogenesis (HFN). When combined with a topical drug available in the market, it created new hair follicles. The company has successfully optimized a wide range of significant parameters by conducting clinical tests since a long time, in order to achieve a therapeutic effect. The HFN device has outperformed all the other skin disruption devices in terms of hair follicle neogenesis.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/hair-transplant-market-102638

Rising Prevalence of Hair Loss Amongst Males to Drive Growth

Hair transplantation is one of the most commonly performed surgeries amongst men across the globe. The International Society of Hair Restoration Surgery (ISHRS) stated that in the U.S. around 35 million men are affected by male pattern baldness every year. This rising prevalence of androgenic alopecia amongst the male population is set to attract them in adopting advanced hair restoration techniques. Also, the launch of effective products and unique techniques are also expected to accelerate the hair restoration market growth in the coming years.

Key Players Focus on Launching Innovative Transplant Products to Surge Consumer Base

The market consists of several big, medium, and small companies. They are persistently striving to develop state-of-the-art transplant techniques and products to gain positive outcome and increase their consumer bases. Venus Concept, for instance, is one of the top companies on account of its increasing launches of non-surgical, as well as surgical treatment options.

Fortune Business Insights™ presents a list of all the companies operating in the hair transplant market. They are as follows:

• Bosley - Hair Restoration & Transplant
• Venus Concept
• Follica
• Bernstein Medical
• Dr Batra's
• Other key market players

Noteworthy Industry Development-

• July 2018: Restoration Robotics Inc., a medical device company based in San Jose, unveiled its robotic hair restoration system called ARTAS® iX. It is the only robotic intelligent solution that delivers implantation, repeatable harvesting, minimally invasive, and precise functionality all in one platform. It is also equipped with a battery-powered, adjustable, portable, motorized, and compact procedure chair for upsurging patient comfort.

Further Report Findings-

• Asia Pacific to dominate in the coming years by generating the highest hair restoration market revenue in 2018. This growth is attributable to the increasing number of hair transplant surgeries performed in various countries across this region.
•  The Middle East & Africa is anticipated to hold the second position owing to the increasing adoption of surgical procedures as they are cost-effective.
• Based on type, the non-surgical segment was in the leading position in the year 2018 in terms of hair transplant market share because of their possession of numerous advantages over surgical procedures.

The hair restoration market can be segmented in the following manner: