Global Lip Fillers Market: Overview
One of the trends catching up with women of all age groups is fuller lips. Flared by adoption by celebrities such as Kylie Jenner, Charlotte Crosby and Angelina Jolie, it is becoming a must in terms of facial aesthetics. Besides, with improvement in technology, it has become a non-surgical process, leading to an ever growing consumer base. The situation today is such that it is one of the most searched cosmetic procedures across the world. Moreover, recent FDA approvals have really given a major boost to the lip fillers market
Therefore, the global lip fillers market is expected to grow at a steady CAGR (Compound Annual Growth Rate), pulling up market worth by a significant amount.
To increase market share, manufacturers join hands with hospitals, surgery centers and even beauty clinics. Customized lip fillers are also making market rounds, giving way to rising demands for personalization
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Global Lip Fillers Market: Notable Developments
- December 2018 – Silk Inc. came up with a dermal filler that is sustainable. It uses silkworm cocoons that make it a better alternative to traditional fillers (acid-based). The biocompatibility of these is higher than those used prior to their creation. This transforms the market for good as more consumers will now be comfortable with the idea of lip fillers. Besides, it is set to spur competition in the global lip fillers market.
- October 2018 – Ireland-based Allergan began marketing for its derma filler that goes by the name of JUVEDERM. The move by the global leader in pharmaceuticals – devices, biologics, surgical and regenerative medicines – is significant in terms of the efforts directed towards lip filers in the global market. Besides, it is one of the few advertising initiatives that can be found in the current landscape.
Market is fairly consolidated. Top three players hold major market share. These players are Allergan, Galderma Laboratories, and Merz Pharma GmbH & Co. KGaA.
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Global Lip Fillers Market: Key Trends
The global lip fillers market is seeing trends that are driving the market forward in a major way. Some of these are mentioned below.
- Going forward, a trend away from silicone based fillers is being noted. Consumers are instead opting for hyaluronic acid-based and silk based fillers as not only are they convenient to use but also provide better outcomes. As stated above biocompatibility of silk based fillers is high. Similarly, hyaluronic acid occurs in the body naturally, making it a safer alternative to liquid silicone. Besides, these are moisturizing in nature, which give a better look to lips post the procedure.
- Social Media is becoming a key factor in terms of popularizing the fuller lips trend. From varied platform influencers to celebrities sharing pictures of now and before are really contributing to the growth of global lip fillers market. They share many details with their follower-base, from clinics and brands to what should be done before and after the procedure. As a result, the idea of using lip fillers is becoming normalized quickly as people believe what these influencers say. To add to it, the selfie tradition is also leading growth as well defined lips – contoured and voluminous – look appealing to women. Therefore, social media can be rightly considered a primary marketing channel by players.
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Global Lip Fillers Market: Regional analysis
One of the largest markets, growing at an impressive pace is the East Asian Market, owing to increasing demand from countries like China, Japan and South Korea. At the vanguard of their beauty and fashion games, these countries contribute extensively to the market. For instance, the cherry lips trend observed in the market is a Korean found, picked up by consumers, including celebrities, across the world.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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