ID: MRFR/HC/5762-HCR | 90 Pages | Author: Kinjoll Dey | June 2023
The Lip Augmentation Market is expected to reach USD 2.97 Billion by 2030 at 9.60% CAGR during the forecast period 2022-2030.
Lip augmentation is a cosmetic procedure which is used to get fuller and plumper lips. Hyaluronic acid based-dermal fillers are mostly preferred for lip augmentation.
Rising participation of market players and development of medical tourism industry are the prominent factors driving the lip augmentation market. For instance, in 2018, Allergan plc launched a new JUVÉDERM advertising campaign created to empower the next generation of consumers to "JUVÉDERM IT." The JUVÉDERM collection of fillers offers a complete range of dermal fillers for different patient needs. JUVÉDERM Ultra XC is used into the lips and perioral area for lip augmentation in adults over 21. Moreover, in 2017, Allergan plc acquired LifeCell Corporation, a leading regenerative medicine company, for approximately USD 2.9 billion in cash.
Various other factors such as increasing awareness about lip augmenation, rising geriatric population and rising demand for dermal fillers are also expected to propel the growth of the market.
However, side effects associated with lip fillers and high cost of treatment can hamper the market growth over the forecast period.
The lip augmentation market is segmented based on type, lip fillers, distribution channel, and region.
The global market for lip augmentation, by type is segmented into temporary lip augmentation and permanent lip augmentation. The permanent lip augmentation segment is further classified as dermal graft, permanent lip implants, vermilion lip advancement and lip lift. The lip lift segment includes corner lip lift and upper lip lift.
The market, by lip fillers, is segmented into fat injection or lipoinjection, hyaluronic acid fillers, lip collagen injections, platelet-rich plasma (PRP), and others.
Based on distribution channel, the market is segmented into hospital pharmacies, clinics, retail pharmacies, drug stores, online pharmacies, 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.
In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely the Americas, Europe, Asia-Pacific and the Middle East & African region.
The lip augmentation market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European lip augmentation market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The lip augmentation market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The lip augmentation market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Global Lip Augmentation market Share (%), by Region, 2017
Sources: MRFR Analysis
The Americas dominated the global market for lip augmentation owing to the rising geriatric population. According to the Population Reference Bureau report, the number of Americans ages 65 and older is projected to double from 46 million today to over 98 million by 2060. Moreover, rising healthcare spending within the region is also boosting the lip augmentation market. In the US, the total healthcare spending reached USD 3.5 trillion in 2017 and by 2026; it is expected to reach USD 5.7 trillion.
In 2017, it was estimated that Europe stood second in the global lip augmentation market. This can be attributed to the rising research and development investments and technological advancements. For instance, in 2017, Allergan received FDA approval for its newest hyaluronic acid dermal filler, Juvéderm Vollure XC.
Asia Pacific was projected to be the fastest growing region in 2017. Factors such as growing medical tourism industry and increasing technological advancements within the region are boosting the regional markets of the Asia Pacific region.
On the other hand, the Middle East and Africa held least share in the global lip augmentation market due to the low per capita income, especially within the African region.
Some of the key players in the lip augmentation market are Allergan, Galderma Pharma S.A., Integra Lifesciences, Laboratories Vivacy SAS, Merz Pharma, Sinclair Pharma, Suneva Medical, Inc, Teoxane, Cynosure, Syneron, AQTIS Medical, Bioha Laboratories, Cytophil, Inc., Dr. Korman Laboratories, Inamed Corporation, and Anika Therapeutics Inc., and others.
Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analysing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.
Extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this particular report we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the lip augmentation. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of chemical manufacturers, some paid databases, and many others.
Market Segmentation and Key Market Players
Lip Augmentation Market, by Type
Lip Augmentation Market, by Lip Fillers
Lip Augmentation Market, by Distribution Channel
|Market Size||USD 2.97 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Lip fillers, Distribution channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Allergan, Galderma Pharma S.A., Integra Lifesciences, Laboratories Vivacy SAS, Merz Pharma, Sinclair Pharma, Suneva Medical, Inc, Teoxane, Cynosure, Syneron, AQTIS Medical, Bioha Laboratories, Cytophil, Inc., Dr. Korman Laboratories, Inamed Corporation, and Anika Therapeutics Inc., and others|
|Key Market Opportunities||
|Key Market Drivers||
Lip Augmentation Market would grow with a 9.60% CAGR during the forecast period of 2022-2030.
High cost and side-effects could prevent the Lip Augmentation Market growth.
Lip Augmentation Market has distribution channels like clinics, hospital pharmacies, drug stores, online pharmacies, retail pharmacies, and others.
Lip Augmentation Market has lip fillers like hyaluronic acid fillers, fat injection or lipo injection, platelet-rich plasma (PRP), lip collagen injections, and others.
Americas would dominate the Lip Augmentation Market.
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