I think so - it has affected my nails, making them very weak - they split, bend and peel..... so I believe that they affect hair as well, I am taking silica to help with the nails and it is supposed to be good for hair as well, my nails seem to be improving but it has only been a couple of weeks of taking.
Other people may have far more knowledge than myself as still learning about all things diabetic and medication wise.