Beard Transplant Market Expected to Reach $1.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Beard Transplant Market," The beard transplant market was valued at $189.00 million in 2021, and is estimated to reach $1.2 billion by 2031, growing at a CAGR of 21.1% from 2022 to 2031.

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.

As per the beard transplant market analysis, the market is segmented on the basis of approach, end user, service provider, and region. On the basis of approach, the market is segregated into follicular unit extraction (FUE), follicular unit transplantation (FUT), and others. On the basis of end user, the market is divided into masculine and transmasculine. Depending on service provider, the beard transplant market is segmented into hospitals, clinics, and surgery centers. Region-wise, the beard transplant market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).

According to the beard transplant market forecast, by approach, the follicular unit extraction segment is expected to sustain its dominance during the forecast period. This segment accounted for 53.3% of the beard transplant market share in 2021. The follicular unit extraction is the most extensively used approach in the beard transplant. It has several advantages, such as no linear scar, quick recovery, faster healing, no visuals of scars, and low or no side-effects, which significantly spurred its growth across the globe.

Depending on end user, the transmasculine segment is anticipated to be the fastest-growing segment owing to the rising transgender population and rising number of gender-affirming surgeries across the globe. According to the Shandong University sponsored journal, Current Urology, around 9,000 transgender surgeries are performed in the U.S. annually.

By service provider, the clinics segment accounted for the largest market share in terms of revenue in 2021. There are several clinics, which specialize only in the hair restoration services and urge to get specialized treatment services. Thus, majority of consumers opt for the clinics to get beard transplantation services.

Region-wise, North America dominated the global beard transplant market in 2021. The higher awareness regarding the availability of facial hair restoration services among the people along with the presence of huge number of multispecialty hospitals and clinics in the region has led to the generation of higher revenues from the beard transplant market in North America.

The global beard transplant industry is moderately fragmented owing to the presence of several local and global service providers, who constantly seeks to exploit the prevailing beard transplant market opportunity. The key market players profiled in this report include, 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, and Wimpole Clinic.

Key findings of the study

• The global beard transplant market size was valued at $189.0 million in 2021, and is estimated to reach $1,163.9 million by 2031, growing at a CAGR of 21.1% during the forecast period. 
• By approach, the follicular unit transplantation segment is estimated to witness the fastest growth, registering a CAGR of 22.6% during the forecast period.
• By end user, 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.