Losing hair is no longer a matter of losing sleep for rich and young Indians, who can afford expensive hair treatments, ranging anything between Rs 20,000 and Rs 5 lakh.
"Hair loss has preceded 10 years in the last decade," Akshay Batra, managing director at Dr Batra's, a leading homoeopathic hair clinic chain, told ET. He also added that there has been "a drastic rise" in the number of youngsters, from the age 18 to 25 that come to the clinic for hair treatments to reverse baldness and prevent genetic hair loss.
Even though the treatment is costly, it has not deterred them from shelling out their money. If reports from a recent IMBR survey of the hair transplant services market in India are to be believed, most customers do not even consider the cost as a factor while making the decision.
Thanks to this, the Indian hair restoration industry has been growing heaps and bounds at the rate of 25% year-on-year over the past five years, and now stands at more than Rs 800 crore. Major players of the industry include Dr Batra's, DHI, Advanced Hair Studio, Rich Feel, Berkowits Hair and Skin Clinic.
Celebrity endorsements also play a huge role in attracting people to hair clinics. We all have seen huge hoardings showing the bald patches of Virendar Sehwag and Shane Warne, prompting people, and mainly youngsters, to go in for hair transplants and hair treatments. Since they are constantly seen on media, people can see the difference that these hair treatments bring in their personalities.
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