Do an internet search on the future of the global hair transplant market and you’ll find yourself buried in statistics. Many of these will have been compiled by reputable marketing agencies and commercial intelligence organisations. The latest, from the Skyquest Group, values the market at USD 8.4 billion in 2021 and estimates it will rise to USD 21.2 billion by 2028. Other forecasts vary depending on the forecast period under consideration and the parameters set by the researchers. What they all agree on, however, is that the future is bright for the hair transplant market.
This article is going to take a look at some of the factors behind the boom in hair transplants.
Market Factors
According to the International Society of Hair Restoration Surgery (ISHRS), an estimated 50 million men and 30 million women around the world suffer from hair loss. This includes both male and female pattern baldness, as well as other types of hair loss, such as alopecia areata, scarring alopecia, and hair loss due to medical treatments like chemotherapy.
That’s a huge pool of people, with a rising disposable income (particularly in developing countries), driving the demand for hair restoration procedures. However, hair loss has been an issue since the dawn of time, so why is it that recent years have seen a rise in people getting treatment?
Surgical Advances
Advances in surgical techniques have paved the way for fantastic hair transplant outcomes. Hair transplants weren’t great when they first appeared a few decades ago. The old ‘hair plug’ procedures led to a result that was often likened to something you’d find on a doll’s head. Follicular unit surgery has changed all that. These days, it is impossible to distinguish transplanted hair from the hair around it. Today’s surgery is also less invasive, so there are fewer complications arising from it and less downtime afterwards. Clients can resume their normal activities almost immediately. What’s not to like?
Acceptance
Greater societal acceptance of hair transplants is also a contributor to the rise in demand. Hair transplants are no longer an object of scorn thanks to the improvement in their quality; that alone has led to greater acceptance. There is also a greater recognition that hair restoration work has noticeable health benefits. This stems from the studies that have shown that hair loss can have a serious impact on a person’s mental well-being, undermining the individual’s self-esteem and causing difficulties in their professional and personal life. Getting a hair transplant, therefore, is more likely to be viewed as a life-enhancing event.
Celebrity Endorsement
One other aspect of greater hair transplant acceptance worth mentioning is the impact of celebrity endorsement. People are often influenced by the behaviour of celebrities because they are seen as role models and trendsetters. When a well-known athlete, actor or movie star steps forward and announces that he or she has had a hair transplant, it has a ripple effect across wider society. Their endorsement of the process is perceived as social proof that it is acceptable or desirable.
This endorsement is linked to the fact that celebrities are often in the media spotlight, with their lives and behaviours constantly being reported and discussed. This can make their behaviours seem more significant and impactful than those of the average citizen and can create a sense of excitement around them. Young people, in particular, are likely to be influenced by celebrity behaviour. Some of that is because they are more plugged into social media and other platforms where celebrities are highly visible.
Example
To take a concrete example, England footballer Wayne Rooney’s hair transplant has been widely publicised and has likely helped to raise awareness of hair transplant procedures. Rooney’s openness about his treatment and the positive results he experienced may have encouraged some people who were considering the procedure. It certainly helped singer Boy George decide to have a hair transplant.
Rooney has also been open about his experiences with male pattern baldness, which has helped help reduce the stigma associated with hair loss and hair restoration procedures. This openness has helped to promote a more positive and accepting attitude towards hair loss and hair restoration.
Conclusion
The hair transplant market may be soaring, but there is still work to be done. Great strides have been taken to break down the stigma attached to the process for so long. Great outcomes and a recognition that hair loss can affect mental health have helped, but there is still work to be done to make a hair transplant seem as routine as having your teeth fixed.
If you’re worried about hair loss or thinning, why not do something about it other than gazing anxiously at the mirror? Vinci Hair Clinic can help. We offer a free consultation to all our new clients. You can share your worries with one of our hair specialists who will be able to advise you on the most appropriate treatment. Contact us today to book your appointment!
