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
Overview
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.
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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 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 Lip
Augmentation Market.
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.
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.
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