Beard Transplant Market to Reach $1.2 Bn, Globally, by 2031 at 21.1% CAGR: Allied Market Research

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Jul 04, 2022, 10:00 ET

Increase in awareness regarding cosmetics surgeries and surge in penetration of the beauty clinics, beauty salons, and multispecialty hospitals drive the growth of the global beard transplant market.

PORTLAND, Ore., July 4, 2022 /PRNewswire/ -- 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.

Drivers and Opportunities

Increase in awareness regarding cosmetics surgeries and surge in penetration of the beauty clinics, beauty salons, and multispecialty hospitals drive the growth of the global beard transplant market. However, availability of various substitutes such as topical therapies including monoxidil and finasteride restrains the market growth. On the other hand, rise in adoption of robotics in the minimally invasive surgeries and medical tourism are expected to present opportunities in the coming years.

Covid-19 Scenario

Many hospitals postponed or cancelled non-elective surgeries to focus on treatment of rise in number of Covid-infected patients. Hospitals shifted their resources to Covid wards. This led to postponement of beard transplant surgeries during the pandemic.
Many people who were willing to undergo beard transplant surgeries avoided visiting clinics and surgery centers to prevent cross-contamination. This impacted the overall revenue of the beard transplant market.

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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 segmentheld 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 owingto increase in awareness among the population regarding the availability of facial hair restoration services in clinics. However, the surgery centerssegment is projected to manifest the fastest CAGR of 21.6% from 2022 to 2031. This is attributed torise in adoption of robotics in the minimally invasive surgeriesand emergence of advanced tools for surgery.

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

Based on region, North Americacontributed 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 tosurge in incidences of hair loss due to various reasons such as alopecia, accidents, hereditary factors, and burnsthat led to adoption of beard transplant surgeries. In addition, rise in medical tourism andpenetration 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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