With the emergence and long-term Impact of COVID-19, the Global Lip Augmentation Market to reach USD 11.67 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Lip Augmentation Market is poised to raised USD 11.67 billion by 2030. Lip augmentation is a cosmetic procedure that aims to enhance the size and shape of the lips, creating a fuller and more attractive appearance. The procedure is typically done to make the lips appear plumper, more defined, and symmetrical. The Lip Augmentation market is expanding because of factors such as growth of medical tourism, increasing number of cosmetic surgeries, and growing gaining population across the world.
Increasing number of cosmetics surgeries performed across the globe is driving the market growth. Reduced stigma around cosmetic enhancements has contributed to an increase in demand for lip augmentation and other aesthetic treatments. In year 2023, a survey released by The International Society of Aesthetic Plastic Surgery (ISAPS) states that in the volume of cosmetic surgeries performed in year 2021 reached at 30.3 million surgeries which indicates the rise of 19.3% from the previous year 2020.
The International Society of Aesthetic Plastic Surgery reported that 33,750 instances of perioral or surgical lip augmentation were recorded in the United States in 2021. These, rising cosmetic surgeries indicated that there has been rise in number of lip surgeries, resulting in market growth. In addition, rising demand for non-invasive procedures, innovation in techniques and influence of social media and celebrity culture are some of the factors creating new opportunities for market growth. However, lack of reimbursement policies and low awareness stifles market growth throughout the forecast period of 2023-2030.
The regional analysis of the global Lip Augmentation Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America dominated the market in 2022 owing to factors such as rising number of cosmetic surgeries, availability of advance healthcare technology, rising stringent regulatory environment, presence of key market players, and rising healthcare expenditure in the region. Whereas, Asia Pacific is projected to registered significant growth owing to factors such as rising medical tourism, rising demand for aesthetics surgery, rising patient awareness in the region.
The Global Lip Augmentation Market is highly competitive owing to the presence of several key manufacturers such as AbbVie Inc., Merz Pharma GmbH, Galderma Pharmaceuticals S.A., Teoxane Laboratories, Suneva Medical, Sinclair Pharma,Laboratories Vivacy SAS, Anika Therapeutics Inc., Bioha Laboratories, Inamed Corporation.
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Global Lip Augmentation Market Size study & Forecast, by Type (Temporary, Permanent), by Product (Hyaluronic Acid Fillers, Poly-L-lactic Acid Fillers, Fat Injection/Lipoinjection, Lip Collagen, Others) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Lip Augmentation Market is anticipated to grow with a healthy growth rate of more than 7.8% over the forecast period 2023-2030
- In the Type segment, Temporary emerged as the leading market segment in 2022.
- North America dominated the market in 2022 owing to factors such as rising number of cosmetic surgeries, availability of advance healthcare technology, rising stringent regulatory environment, presence of key market players, and rising healthcare expenditure in the region.
- Asia-Pacific is expected at a high CAGR followed by North America during 2022-2030
Bizwit Research & Consulting has considered the following segments for the study:
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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