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Growing celebrity influence, societal pressure and higher awareness levels are all turning out to be potential drivers for the hair transplant market. A new survey by Frost and Sullivan has noted that the organised hair transplant market is set to grow at a compounded annual growth rate (CAGR) of more than 25 per cent in select metros.
A large number of customers in the age group of 25 to 30 years tend to take hair transplant services, especially when they plan to tie the knot, it added.
According to Ankit Goyal, Programme Manager, healthcare practice, Frost and Sullivan: “The size of the Indian hair transplant market was estimated at Rs 453 crore in 2012-13. International chains are seeing India as a potential market for hair restoration.”
The hair transplant industry is at an interesting phase, according to Viral Desai, Promoter and Medical Director of Direct Hair Implants (DHI) India. “The industry witnessed the presence of large, organised players and single doctor managed clinics. This co-existence has fragmented the market into segments, each with unique price points. However, we have seen a growing awareness about difference in results across these segments.”
Given that today's consumer appreciates ‘value’ more than ‘cost’, the industry is seeking organised players, with standardised systems and evolved processes, to meet evolving consumer preferences, added Desai.
There are two techniques of hair transplant, one is called the follicular unit extraction (FUE) and the other is known as follicular unit transplant (FUT). The FUT technique is mainly adopted by doctors, but FUE is also seen to be gaining momentum with the advent of international chains and few trained FUE doctors.
The cost per graft in the market varies from Rs 50 to Rs 200 and more, depending on the technique used, the operating doctor and the clinic’s brand name, added Goyal.
The survey has noted that the hair transplant industry is dominated by doctor-managed centres and standalone centres, to the tune of 80 per cent. From 2009-10 onwards, various national and international chains, such as DHI, Berkowits, Richfeel Trichology Center, B Perfect, ADHI, have set up hair restoration clinics in key Indian cities.
Some of these players have aggressive plans over the next two-three years to strengthen their presence in the country, Goyal said.
amritanair.ghaswalla@thehindu.co.in
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