US Hair Transplant Procedure Market to Exhibit 6.1% CAGR by 2027 Owing to Increasing Focus on Development of Innovative Procedures by Companies, says Fortune Business Insights™

The U.S. Hair Transplant Procedure market volume is expected to showcase considerable growth by reaching 231,720 by 2027. Fortune Business Insights in its report, titled "U.S. Hair Transplant Procedure Market, 2020-2027.", mentions that the market stood at 170,510 in 2019 and is projected to exhibit a CAGR of 6.1% between 2020 and 2027. This is attributable to the factors such as the growing adoption of novel technology-based hair transplant solutions and the increasing focus on development of innovative procedures in the U.S. For instance, in June 2020, Follica, Inc., a leading biotechnology company, announced a unique treatment for androgenetic alopecia. The company further reported that it received positive feedback by the U.S. Food and Drug Administration (FDA) for its treatment procedure leading to advancement into Phase 3 development.

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The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.

Geographical Analysis:
• North America (The U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and the Rest of Latin America)
• The Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)
Market Segmentation:
Based on type, the market is bifurcated into follicular hair transplantation (FUT) and follicular unit extraction (FUE).
• On the basis of type, the follicular unit extraction (FUE) segment is expected to hold a significant U.S. hair transplant procedure market share in terms of revenue. This is due to the increasing demand for advanced methods such as the ARTAS system and Neograft that aid in the automation of the FUE procedures to ensure quick and error-free treatments.

Furthermore, on the basis of age group, the market is divided into 20-29, 30-39, 40-54, and 55 & above. Based on gender, the market is classified into men and women.

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What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

DRIVING FACTORS
Increasing Adoption of Advanced Treatment Solutions to Aid Growth
In 2018, Restoration Robotics announced the launch of Next Generation ARTAS iX Robotic Hair Restoration System. The company reports that the robotic procedure offers a high degree of accuracy and efficient clinical workflow. With massive improvement in technology, robotic hair transplants are perceived to be effective treatment solutions in the U.S. For instance, the follicular unit extraction procedure adopts a robotic system that automates two steps in the hair transplant. This consists of recipient site creation and follicular unit graft harvesting that helps the surgeons to perform the treatment with precision and further harvest healthy grafts. Therefore, the adoption of advanced treatment solutions is anticipated to contribute to the U.S. hair transplant procedure market growth during the foreseeable future.

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COMPETITIVE LANDSCAPE
Key Players Focus on Partnerships to Brighten Their Market Prospects
The market is experiencing healthy competition among key players that are focusing on partnering with other companies to expand their product portfolio of the U.S. hair transplant procedure and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, facility expansion, the introduction of new products, and collaboration that will boost the growth of the market in the forthcoming years

Industry Development:
• May 2019 - Bosley Inc. introduced BioGraft, new technology in hair loss solution. According to the company, the new technology is beneficial in treating hair loss problems in both men and women.

List of the Companies Profiled in the Market:
• Cole Instruments Inc. (Georgia, United States)
• CAPILLUS Inc. (Florida, United States)
• LaserCap Company (Ohio, United States)
• Apira Science (Florida, United States)
• Venus Concept (Toronto, Canada)
• THERADOME (California, United States)
• Restoration Robotics, Inc. (California, United States)
• Other Prominent Players

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