NEW DELHI: The hair transplant market is estimated to grow to $560 million by 2032, a steep rise from $180 million last year, amid growing popularity, especially among celebrities, a top expert said.

“The global hair transplant market is massive and growing at a rapid pace,’’ said Dr Pradeep Sethi Scientific Director of World Follicular Unit Extraction Institute.

To put into perspective how fast the industry is growing in India, in 2022 it was estimated at $180 million and is expected to reach around $560 million by 2032, he added.

Sethi, who runs Eugenix Hair Sciences in Gurugram, said he has over 40 per cent patients annually either from the US, or Europe.

He said a research by Custom Market Index suggests that the hair transplant market is likely to grow at a CAGR of about 12 per cent between 2023 and 2032 and is also the fastest-growing vertical in the medical tourism structure across the globe.