According to the most recent report by Emergen Research, the global Lip Augmentation Market was valued at USD 2.73 billion in 2021 and is anticipated to grow at a revenue CAGR of 9.5% during the projected period. Lip augmentation is a cosmetic operation that enlarges the lips utilising fillers that may be permanent or temporary in nature to increase the volume of the lips. Implants, fat injections, and hyaluronic acid are among of the most popular materials used in this surgery. Restylane L, Belotero Balance, and Juvederm Vollure are a few lip fillers that have received FDA approval.
Young people’s demand for lip augmentation is rising because to its quick recovery and low danger. The public now has more access to cosmetic surgery thanks to the quick expansion of social networking services and web-based mass media. According to the International Society of Aesthetic Plastic Surgery (ISAPS), 14.4 million nonsurgical procedures and 10.13 million surgical procedures were carried out globally in 2020. Young people’s demand for lip augmentation is rising because to its quick recovery and low danger. The public now has more access to cosmetic surgery thanks to the quick expansion of social networking services and web-based mass media.
The 2019 coronavirus disease (COVID-19) has sparked both a financial and a medical crisis. The COVID-19 epidemic has strained the healthcare system globally, and wealthier nations are predicted to experience an economic downturn. A 50% to 70% decrease in revenue from March is the outcome of the Covid-19 pandemic’s negative effects on the healthcare system. Numerous small clinics, hospitals, and nursing homes were compelled to close. Elective surgical treatments have been postponed as a result of social isolation and localised curfews. In addition, visa cancellations have halted medical tourism and may have a detrimental effect on the expansion of the healthcare services market.
Some Key Highlights From the Report :
The market for hyaluronic acid fillers has a revenue share of over 25% in 2019 and is anticipated to grow at the quickest CAGR over the forecast period. Because hyaluronic acid is produced naturally by the body and readily absorbed when artificially injected, there is very little probability of treatment-related dangers or adverse effects. Due of its effectiveness and safety, Poly-L-lactic acid fillers are anticipated to have significant growth and will record the second-fastest CAGR over the projection period.
During the projection period, the speciality & dermatology clinics segment is anticipated to dominate. The overwhelming amount of aesthetic operations performed in specialist and dermatological clinics is responsible for the segment’s domination. This is the main driver of the segment’s expansion. These factors are anticipated to promote the market expansion in addition to the fact that aesthetic procedures like wrinkle repair do not require a hospital stay.
The biodegradable segment is anticipated to hold the highest market share in the forecast period.
Because there are more product options available in this segment than in the non-biodegradable category and because biodegradable products have more varied aesthetic uses, the segment has a higher market share. The segment’s expansion is also anticipated to be aided by the goods’ higher level of safety, solid regulatory approval, and ongoing R&D initiatives by large and up-and-coming businesses to launch new products in the biodegradable market. For instance, the Israeli aesthetics business Hallura Ltd. revealed in March 2022 that its multi-site European clinical trial using their next-generation hyaluronic acid dermal filler and their patented BiOLinkMatrix technology had achieved successful topline results.
Some major companies in the global market report include AbbVie, Teoxane, Galderma, Merz Pharma, Sinclair, Laboratoires Vivacy, Integra LifeSciences, Suneva Medical, Cynosure, LLC., and Bioha Laboratories.
Emergen Research has segmented the global lip augmentation market based on type, product, and region:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Lip advancement
- Fat grafting
- Lip implants
- Lip fillers
- Lip lift
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Hyaluronic acid fillers
- Fat injection or lipoinjection
- Poly-L-lactic acid fillers
- Lip collagen