Hair Restoration Services Market: Overview
- Losing hair is a complex health condition which leads to life altering changes. The impact cannot be measured and therefore, it needs medical attention from time to time. Hair restoration is a technique where each follicle of donor hair is removed and harvested by surgically from the back of the head.
- Flashy marketing and high-pressure sales pitches dominate the field, however, in general, hair restoration or transplantation is handled by the medical specialty who also serves patients as a business. Hair restoration includes surgical and nonsurgical techniques. Surgical hair restoration includes hair transplantation and other techniques.
- The global hair restoration services market is projected to expand at a significant pace during the forecast period. Increase in incidence of hair transplantation among young generation, availability of new technologies for transplantation, less side-effects occurring after hair transplantation, and emerging players with hair restoration services are expected to drive the market during the forecast period.
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Key Drivers of Global Hair Restoration Services Market
- Rise in concern over hair loss, increase in number of hair restoration services, and technological advancements are anticipated to propel the global hair restoration services market during the forecast period
- According to the Antimicrobial Resistance (AMR) Fact Sheet published by WHO, in 2018, nearly 50 million men and 30 million women in the U.S. suffer from hair loss. In Europe, Czech Republic has the highest number of bald individuals, with the male population accounting for more than 50%. Similarly, in India, majority of male population, especially in their 20s, has been tackling with baldness issue.
- Several key hair restoration service providers have been strategizing on evolving and improving their services, which has resulted in increased customer demand for upgraded version of several hair restoration solutions, specifically, follicular unit extraction and follicular unit transplantation
- According to the Eugenix Hair Transplant Sciences, 2019, the direct hair transplantation (DHT) technique is the most advanced technique of hair transplantation which involves the ingenious process of simultaneously extracting and implanting the hair. The technique is the most modern modification of the popular FUE (follicular unit extraction) technique.
North America to Hold Major Share of Global Hair Restoration Services Market
- North America is projected to account for prominent share of the market during the forecast period. Increase in awareness about hair restoration services, high rate of adoption of hair transplant owing to increased physicians prescriptions, and technological advancements in the U.S are expected to drive the North America market in the region.
- Favorable reimbursement policies, expansion in number of clinics for hair restoration services, and rise in number of clinics by private players are anticipated to propel the North America segment during the forecast period
- According to the U.S. Census Bureau, young adults are on the verge of surpassing baby boomers in the country in terms of fashion and health care. Similarly, hair loss concerns have been high among the young adulthood, specifically in North America.
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Key Players Operating in Global Market
Major players operating in the global hair restoration services market are:
- Elite Hair Restoration
- Lexington Intl., LLC
- Cole Hair Transplant Group
- Direct Hair Implantation International
Global Hair Restoration Services Market: Research Scope
Global Hair Restoration Services Market, by Service Type
- Follicular Unit Extraction
- Follicular Unit Transplantation
- Laser Treatment
- Follicular Unit Strip Surgery
Global Hair Restoration Services Market, by Gender
Global Hair Restoration Services Market, by End-user
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.