BURLINGAME, Calif., March 12, 2024 /PRNewswire/ --Coherent Market Insights published a report, titled, Global Hair Transplant System Market, By Product Type (Robotic Hair Transplant System, Handheld Devices), By Procedure Type (Follicular Unit Transplantation (FUT), Follicular Unit Extraction (FUE) , Robotic Hair Transplant), By Gender (Male, Female), By End User (Hospital & Clinics, Dermatology Clinics, Others), and By Geography: Size, Share, Outlook, and Opportunity Analysis, 2023-2030. According to the report, the global hair transplant system market was valued at US$ 7.22 Bn in 2023 and is expected to reach US$ 28.06 Bn by 2030, growing at a compound annual growth rate (CAGR) of 21.4% from 2023 to 2030.
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Market Dynamics:
The growing prevalence of hair loss among both men and women is one of the key drivers driving the growth of the hair transplant system market. Factors such as stress, unhealthy lifestyles, hormonal imbalance, and genetic predisposition contribute to the increasing number of hair loss cases globally. Additionally, technological advancements in hair transplant procedures, such as robotic hair restoration systems, are further fueling market growth.
Global Hair Transplant System Market Report Coverage
Report Coverage | Details |
Market Revenue in 2023 | $7.22 billion |
Estimated Value by 2030 | $28.06 billion |
Growth Rate | Poised to grow at a CAGR of 21.4% |
Historical Data | 2018-2021 |
Forecast Period | 2023-2030 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product Type, By Procedure Type, By Gender, By End User |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Growth Drivers | • Increasing baldness in men • Advancement in hair transplantation methods |
Restraints & Challenges | • High production cost associated with hair transplant systems |
Market Trends:
One of the key trends observed in the hair transplant system market is the increasing adoption of minimally invasive hair transplant procedures. Minimally invasive techniques, such as follicular unit extraction (FUE), offer faster recovery times, less scarring, and more natural-looking results, driving their popularity among patients. Another trend shaping the market is the rising demand for hair transplant procedures among younger individuals, as they seek to address hair thinning and receding hairlines at an earlier age than previous generations.
In recent years, the global hair transplant system market has witnessed significant growth, with a market size of USD 7.22 billion in 2022 and a remarkable CAGR of 21.4%. The market is expected to continue growing at a steady pace during the forecast period from 2023 to 2030.
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Market Opportunities:
One of the major market opportunities lies in the segment of robotic hair transplant systems. Robotic systems offer precise and efficient hair transplant procedures, leading to better results and higher patient satisfaction. As a result, the robotic hair transplant system segment is anticipated to dominate the market in terms of product type. Companies like Venus Concept Inc. and NeoGraft are at the forefront of developing innovative robotic systems for hair transplantation.
Another key market opportunity lies in the end user segment, particularly in dermatology clinics. Dermatology clinics specialize in skin and hair-related treatments, making them ideal settings for hair transplant procedures. This segment is expected to dominate the market, as patients prefer to undergo hair transplant procedures in specialized clinics with experienced dermatologists. Companies like Medicamat and Adarsh Surgical Works cater to the needs of dermatology clinics by providing advanced hair transplant systems.
Recent Developments:
On March 20, 2023, Venus Concept Inc. a global medical aesthetic technology company, launched its latest generation of ARTAS iX, which is broadly available to physicians specializing in hair transplantation worldwide.
On November 29, 2018, NeoGraft, a precision FUE hair restoration technology company, launched a new on-demand hair transplant technician scheduling app for their physician partners.
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Key Market Takeaways:
Hair transplant system market is anticipated to witness a CAGR of 21.4% during the forecast period 2023-2030, owing to the rising demand for efficient and effective hair transplant procedures.
On the basis of product type, the robotic hair transplant system segment is expected to hold a dominant position, owing to the precision and accuracy offered by robotic systems. Among procedure types, follicular unit transplantation (FUT) is expected to dominate the market due to its established efficacy.
North America is expected to hold a dominant position in the market, driven by the presence of advanced healthcare infrastructure and increasing demand for aesthetic treatments.
Key players in the market include Venus Concept Inc., NeoGraft, and Medicamat, who are focused on innovation and technological advancement in the field of hair transplantation.
Overall, the hair transplant system market presents lucrative opportunities for companies operating in the field of aesthetic medicine. By focusing on developing advanced robotic systems and targeting dermatology clinics as key end users, companies can capitalize on the growing demand for hair transplant procedures. With the right strategies and innovations, players in the market can further drive growth and expansion in the coming years.
Read complete market research report, " Global Hair Transplant System Market, By Product Type, By Procedure Type, By Gender, By End User, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2023-2030", Published by Coherent Market Insights.
Market Segmentation:
By Product Type:
- Robotic Hair Transplant System
- Handheld Devices
By Procedure Type:
- Follicular Unit Transplantation (FUT)
- Follicular Unit Extraction (FUE)
- Robotic Hair Transplant
By Gender:
- Male
- Female
By End User:
- Hospital & Clinics
- Dermatology Clinics
- Others (Plastic Surgery Clinics)
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
- North America
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