It’s time to pucker up: the global demand for lip fillers grew 3% year-over-year in 2018, coming in at $420 million.
This from “Lip Fillers Market Opportunity Analysis,” a report from Future Market Insights. Among its findings:
- Half of consumers invest in lip fillers to “boost [their] confidence levels;” the other half use them as a quick fix for “facial perfection”
- Offering a wide-range of safe, effective options will remain the key revenue level of companies active in the lip fillers market, while personalization will offer an opportunity to boost revenue pools
- The study anticipates that lip augmentation with hyaluronic acid-based solutions will remain the most frequently requested procedures in aesthetic practices—in 2019, hyaluronic acid will surpass poly-L-lactic acid to account of around 94% of the global lip fillers-derived business value
- Though hospitals remain the leading location for lip fillers, office-based clinics will likely pick pace by the end of 2029, making them strong potential end user target for market players
- Long-term contracts with both hospitals and office-based clinics will be crucial in maintaining profitability for market players
- North America continues to lead the market for lip fillers, with the U.S. commanding a whopping 94.5% of the regional market growth
- Of the emerging markets, East Asia is the player to watch: shifting beauty standards in Japan, China and South Korea will present opportunities for companies operating in the market
- Social media, particularly selfie culture, remains one of the biggest factors in driving customers to opt for lip fillers; however, potential risks, such as bruising and permanent tissue spoilage, continue to deter potential customers
For more information, or to read the full report, visit FutureMarketInsights.com.