Beard Transplant Market Share is to Reach at a CAGR of 21.1% from 2022 to 2031

According to a new report published by Allied Market Research, titled, "Business Travel Lodging Market by Enterprise Size and Industry: Opportunity Analysis and Industry Forecast, 2021-2028," the global business travel lodging market size was valued at $257.40 billion in 2018, and is estimated to reach $450.80 billion by 2028, growing at a CAGR of 14.77% from 2021 to 2028.

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Key Finding

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.
Beard transplant means extracting the hair follicles from one part of the body and implanting it to the jawline. The demand for beard transplant is expected to grow significantly in the forthcoming future owing to the rise in concerns among the population regarding their facial aesthetics. With changing lifestyle and growing popularity of the beard trend among men, the demand for beard transplants is expected to boost among the men with patchy beard growth. Growing beard is not a simple task as some men have several issues, such as hereditary issues, scars due to accidents and burns on face, and surgical scars that not only hamper the facial aesthetics but also restrict beard growth. Moreover, traction alopecia is a condition that leads to patchy beard growth, especially among the Sikh population in India. These factors are expected to be the major driver of the beard transplant market during the forecast period.

The rise in penetration of various beauty clinics and multispecialty hospitals and surge in consumer awareness regarding cosmetics surgeries is expected to boost the beard transplant market growth. Moreover, the demand for robotics assisted beard transplant surgeries is expected to foster in the developed markets of Europe and North America owing to the rise in focus on the adoption of advanced technologies in the healthcare sector. The presence of strong healthcare infrastructure and the rise in popularity of minimally invasive surgeries among the population are major contributors to the growth of the beard transplant market.

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 share, 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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