Beard Transplant Market to Grow at a CAGR of 21.1% from 2022 to 2031

Allied Market Research published a report, titled, "Beard Transplant Market by Approach (Follicular Unit Extraction, Follicular Unit Transplantation, Others), by End User (Masculine, Transmasculine), by Service Provider (Hospitals, Clinics, Surgery Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031."According to the report, the global beard transplant industry generated $189.00 million in 2021, and is estimated to reach $1.2 billion by 2031, witnessing a CAGR of 21.1% from 2022 to 2031.

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Innovation in services provided is the key to the sales growth in the global beard transplant market. Companies have been strategizing on adopting upgraded technologies in the already existing services that are being provided. For instance, Direct Head Implantation (DHI) International Global Medical Group has developed a modified form of follicular unit extraction (FUE) technique, called as Direct Hair Implantation (DHI). It involves a use of a specialized pen-shaped tool that allows the surgeons to extract and implant the hair follicles at the same time.

Moreover, the adoption of robotics technology in the surgeries is emerging as a prominent trend in the market. Companies that provide robotic FUE and robotic FUT beard transplant surgeries, claim 100% success rate as adoption of robotics eliminates risk of manual errors and offers precision extraction and harvesting. Rise in technological advances and its rapid adoption in the minimally-invasive surgical procedures is gaining a rapid traction among consumers as well as service providers.

Rise in rate of internet penetration around the major parts of the globe makes way for service providers to initiate several key online marketing programs, as online platforms are one of the easiest ways to create awareness about the specifications and features of the facial hair restoration services among the target customers.

Key Take Away

The follicular unit transplantation segment is estimated to witness the fastest growth, registering a CAGR of 22.6% during the forecast period.
The masculine segment was valued at $176.5 million in 2021, accounting for 93.4% of the global market share.
The U.S. was the most prominent market in North America in 2021, and is projected to reach $290.3 million by 2031, growing at a CAGR of 20.6% during the forecast period.

The follicular unit extraction segment to maintain its leadership status during the forecast period

Based on approach, the follicular unit extraction segment contributed to the highest market share in 2021, contributing to more than half of the global beard transplant market, and is expected to maintain its leadership status during the forecast period. This is due to high success rate and advantages such as quick recovery, no linear scar, and low or no side-effects. The report also analyzes the segments including follicular unit transplantation and others.

The clinics segment to maintain its lead position during the forecast period

Based on service provider, the clinics segment held the highest market share in 2021, accounting for more than half of the global beard transplant market, and is expected to maintain its lead position during the forecast period. This is owing to increase in awareness among the population regarding the availability of facial hair restoration services in clinics. However, the surgery centers segment is projected to manifest the fastest CAGR of 21.6% from 2022 to 2031. This is attributed to rise in adoption of robotics in the minimally invasive surgeries and emergence of advanced tools for surgery.

North America to maintain its dominance in terms of revenue by 2031

Based on region, North America contributed to the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global beard transplant market, and is expected to maintain its dominance in terms of revenue by 2031. This is due to the presence of huge number of multispecialty hospitals and clinics along with rise in popularity of cosmetics and minimally invasive surgeries. However, Asia-Pacific is projected to manifest the fastest CAGR of 22.2% during the forecast period. This is attributed to surge in incidences of hair loss due to various reasons such as alopecia, accidents, hereditary factors, and burns that led to adoption of beard transplant surgeries. In addition, rise in medical tourism and penetration of specialty hair treatment clinics supplements the growth in this region.

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Leading Market Players

Ashlin Alexander Facial Cosmetic Surgery
Bain Clinic
Bosley
CapilClinic
Dezire Clinic
DHI Global Medical Group
iGraft Global Hair Services Pvt Ltd
Maxim Hair Restoration
Smile Hair Clinic
Wimpole Clinic

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