5 Reasons the Hair Transplant Market Continues to Grow
According to a recently released member survey conducted by the International Society of Hair Restoration Surgery (ISHRS), the hair transplant market is growing at a significant rate. In fact, from 2008 to 2019, they report a 157% increase in hair restoration patients. Not only that, but the worldwide market for surgical hair restoration has increased 10% since 2016 to $4.6 billion USD in 2019.
So, what’s fueling this rise in hair transplants? Let’s take a look at five of the most likely factors.
1. Improving Technology
One of the biggest reasons for the increase in the hair transplant market is that hair transplant technology has improved considerably over the past few decades. Gone are the days of fake looking ‘hair plugs’ and bad toupees. Bosley uses the latest technology in hair restoration. These days, an experienced Bosley hair transplant surgeon can mimic how your hair grows naturally, using either Follicular Unit Transplantation (FUT) or Follicular Unit Excision (FUE) – the two most advanced hair transplantation techniques.
2. Increase in Hair Loss
Another reason for the increase in people seeking treatment for hair loss is simply the fact that hair loss itself seems to be increasing. While the data is still anecdotal, a recent study found that people in their 20s seem to be going bald sooner than any generation before them. At the other end of the age spectrum, increases in life expectancy have resulted in a significant increase in older populations – often the most likely to experience hair loss.
3. Social Media
It’s no secret that social media influences our lives in many different ways. But one of the most significant is how it has affected our self-image. Whether you’re a casual social media user or a certified influencer, seeing a constant barrage of people’s perfect pictures is bound to make you self-conscious. In fact, according to research done by Yale psychologist Dr. Marianne LaFrance, thinning hair can cause some people to minimize the number of pictures they upload to social media because they’re worried about their appearance.
4. Fear of Aging
While most of us fear aging to some degree (regardless of our age), it turns out that Millennials are especially afraid of the effects of Father Time. According to research by Mintel, a leading market research agency, 57% of Millennials say that they’re afraid of aging. Not only are they afraid of aging – they’re actually doing something about it. The study notes that 60% are doing all they can to fight the physical signs of aging. And since a lot of Millennials (age 22 – 39) are now at the age where they’re starting to experience hair loss, it makes sense that hair transplants are increasing.
5. Decreasing Stigma
Historically, one of the biggest hurdles for people to overcome when deciding to get a hair transplant was the stigma associated with them. These days, however, things have started to change. Whether it’s celebrities being more open about their hair transplants or the growing acceptance of cosmetic surgery among men, hair transplants have begun to shed their reputation as something only vain men do.
As the leader in the hair restoration industry for over 40 years, we may be a little biased when it comes to our belief in the efficacy and value of hair transplants. But that’s just because we’ve seen time and time again what a great hair transplant by an experienced physician can do to someone’s wellbeing and confidence.
Regardless of your reasons, if you’re one of the thousands of people who’re looking for a solution to your hair loss, the specialists here at Bosley are ready to help. Schedule a free video or in-person consultation today to find out if a hair transplantation is right for you.
1Worldwide Demand for Effective Hair Restoration Procedures Continues to Increase (2020, June 3rd), from https://ishrs.org/2020/06/03/worldwide-demand-for-effective-hair-restoration-procedures-continues-to-increase/
2Why Millennials Are Losing Their Hair Earlier (2018, Sept 27th), from https://www.healthline.com/health-news/why-millennials-losing-hair-earlier
3Nioxin Relaunch Uncovers How Social Media Fuels Hair Thinning Concerns (2017, Nov 20th), from https://www.cosmeticsbusiness.com/news/article_page/Nioxin_relaunch_uncovers_how_social_media_fuels_hair_thinning_concerns/136186
4Race Against Time: 57% of U.S. Millennials Are Afraid of Getting Older, from https://www.mintel.com/press-centre/social-and-lifestyle/race-against-time-57-of-us-millennials-are-afraid-of-getting-older