Hair Restoration Surgery Market Increased 47% Worldwide In 2010
- Middle East and Asia Experience Largest Gains
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Despite slow economic growth worldwide, the demand for procedures to correct hair loss proved to be stronger than ever, according to statistics released from a recent member survey conducted by the International Society of Hair Restoration Surgery (ISHRS) – the world’s leading medical authority on hair loss and hair restoration. From 2008 to 2010, the total extrapolated market size for hair restoration surgery increased 47.9 percent.
Specifically, the extrapolated worldwide number of surgical hair restoration procedures performed in 2010 was approximately 279,381, up 11 percent from 2008. Since the ISHRS starting compiling membership data in 2004, the number of procedures performed around the world jumped 66 percent – with the Middle East (454 percent increase) and Asia (345 percent increase) experiencing the largest growth.
“People with hair loss often report that it puts them at a disadvantage in their personal and professional lives,” said Jerry E. Cooley, MD, president of the ISHRS. “Patients appreciate the natural-looking, permanent results of hair restoration surgery, which is why we are seeing a growing trend of more men, and women, around the world turning to hair restoration surgery to look younger and feel more self-confident.”
Based on the estimated number of 279,381 hair restoration procedures performed in the past year, multiplied by the average fee* charged to patients for a procedure, the estimated worldwide market for hair restoration was calculated as shown below (with worldwide market size shown in various currencies).
Hair Restoration Estimated Worldwide Market Size:
Currency 2010 Market Size
U.S. Dollar $ 1,875,878,580 (USD)
European Euro € 1,290,792,051 (EUR)
Canadian Dollar $ 1,825,792,622 (CAD)
Australian Dollar $ 1,762,763,102 (AUD)
Korean Won ? 2,036,828,962,392(KWN)
Hong Kong Dollars $ 14,618,159,012(HKD)
Japanese Yen ¥ 150,182,839,132(JPY)
Indian Rupees 84,076,877,965(INR)
Saudi Riyal SR 7,034,919,852(SAR)
Mexican Peso $ 22,330,458,619(MXN)
Brazil Real R$ 2,992,026,335(BRL)
While the majority of hair restoration patients are men, women increasingly are seeking help for hair loss. In 2010, 85.9 percent of all hair restoration surgical patients worldwide were male and 14.1 percent were female. Since 2004, the number of female surgical hair restoration patients worldwide increased 24 percent.
“In the past, hair transplants were considered a ‘for men only’ cosmetic procedure,” said Dr. Cooley. “But this stereotype has changed dramatically, as women want a permanent solution for hair loss as well. While wigs, hair extensions and camouflage products work, they are only temporary solutions and require daily maintenance to cover up hair loss.”