Lip Augmentation Market Size, Growth and Share Analysis By Type (Temporary and Permanent Lip Augmentation), Lip Fillers (Fat Injection or Lipoinjection, Hyaluronic Acid Fillers, Lip Collagen Injections & Others), Distribution Channel – Global Forecast Till 2023
The Global Lip Augmentation Market size is anticipated to display a CAGR of 10.5% over the forecast period. The proliferation of medical tourism and need for cosmetic surgery for external appearance are prime factors driving the market growth. The influence of social media and celebrity culture has increased the craving among consumers for lip augmentation procedures. Other factors expected to influence the market growth include the geriatric populace and awareness of lip augmentation.
Lip augmentation is a cosmetic procedure used in attaining luscious lips. Dermal fillers are developed for this purpose and assist cosmetic surgeons in enhancing the appearance of lips in individuals as per their requirement. The global lip augmentation market report by Market Research Future (MRFR) looks at numerous drivers and restraints to be faced by cosmetic procedure stalwarts for the period of 2018 to 2023 (forecast period). The impact of the COVID-19 pandemic has been recorded in the final report.
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New marketing campaigns for dermal fillers as well as approval by regulatory bodies of new products can spur the market growth. For instance, Allergan plc launched JUVEDERM in 2018 and marketed for new age consumers. Furthermore, the company has acquired LifeCell Corporation to increase its offerings.
But exorbitant costs of lip augmentation procedures and its adverse effects can hamper market growth.
Lip Augmentation Market Segmentation
The global lip augmentation market is segmented based on type, lip fillers, and distribution channel.
The global lip augmentation market, by type is segmented into temporary lip augmentation and permanent lip augmentation. The permanent lip augmentation segment is further classified as vermilion lip advancement, dermal graft, permanent lip implants, and lip lift. The lip lift segment includes corner lip lift and upper lip lift.
The lip augmentation market, by lip fillers, is segmented into lip collagen injections, platelet-rich plasma (PRP), fat injection or lipoinjection, hyaluronic acid fillers, and others.
Based on distribution channel, the lip augmentation market is segmented into online pharmacies, hospital pharmacies, retail pharmacies, clinics, drug stores, and others. The hospital pharmacies segment is anticipated to hold the largest market share owing to the increasing demand for cosmetic procedures. The online pharmacies are expected to grow at the highest CAGR owing to the rising cases of cosmetic problems.
Lip Augmentation Market Regional Analysis
In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is expected to be the leading region in the global lip augmentation market owing to the interest of the geriatric populace in maintaining their outer appearance. According to the Population Reference Bureau report, the number of the geriatric populace can explode to 98 million by 2060. Rising healthcare expenditure can also facilitate market growth.
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Europe has assumed the second position in the market owing to investments in research and development in cosmetic procedures. On the other hand, APAC is expected to exhibit one of the highest growth rates during the assessment period due to increase in medical tourism and technological breakthroughs.
Lip Augmentation Market Competition Outlook
Cynosure, Inamed Corporation, Teoxane, AQTIS Medical, Dr. Korman Laboratories, Allergan, Sinclair Pharma, Bioha Laboratories, Laboratories Vivacy SAS, Anika Therapeutics Inc., Galderma Pharma S.A., Cytophil, Inc., Integra Lifesciences, Suneva Medical, Inc, Merz Pharma, Syneron, and others are key players of the global kefir market.
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