Market Overview
“The global Botulinum Toxin market is expected to grow at a CAGR in the forecast period of 2021-2028″.
Botulinum toxin is a neurotoxin produced by anaerobic bacteria known as Clostridium botulinum. Botulinum toxin is widely used for aesthetic purposes. Heavy investment in R&D projects to develop the therapeutic use of botulinum toxin is creating opportunities for the expansion of its application area in near future.
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Market Dynamics
The global botulinum toxin market market growth is driven by the growing patient preference towards non-invasive or minimally treatments coupled with development of novel products will thus accelerate the market growth.
Rising aesthetic consciousness and a number of non-invasive cosmetic procedures is expected to drive the growth in the forecast period
The botulinum toxin market is primarily driven by rising aesthetic consciousness and a number of non-invasive cosmetic procedures. According to the recent data of American Society of Plastic Surgeons (ASPS), in 2018 among the 15.9 million cosmetic minimally-invasive procedures performed in the United States, Botulinum Toxin Type A tops the list with 7.44 million procedures. Many advanced non-surgical and minimally invasive aesthetic procedures were developed at the beginning of the 21st century. The increasing quality of care improved professional services, and the availability of minimally invasive surgeries by highly qualified aesthetic surgeons have contributed to the growth of procedural volume.
Furthermore, aging population, rising incidence of aesthetic problems such as lateral canthal lines, crow’s feet and introduction of cost-effective aesthetic products are also boosting the botulinum toxin market demand. Focus of market players to develop and add new products to cosmetic procedures will further contribute to the market growth significantly.
Increase in the prevalence of spasticity and cervical dystonia, expected to drive the market growth
Increase in the prevalence of spasticity and cervical dystonia and the number of cases of migraine is expected to drive the botulinum toxin market during the forecast period. Surge in the rate of adoption of non-surgical botulinum toxin procedures, due to their noninvasive or minimally invasive nature, is boosting botulinum toxin market. Rise in the number of worldwide geriatric population and incidences of aesthetic issues, such as crow’s foot and lateral canthal lines, is a key factor that is anticipated to propel the botulinum toxin market during the forecast period.
Market Segmentation
Global Botulinum Toxin Market – By Type
Botulinum toxin type A
Botulinum toxin type B
Botulinum toxin type C
Botulinum toxin type D
Botulinum toxin type E
Botulinum toxin type F
Botulinum toxin type G
Global Botulinum Toxin Market – By Application
Cosmetic Applications
Non-Cosmetic Applications
Global Botulinum Toxin Market – By End-use
Hospital
Dermatology Clinics
Spas & cosmetic centers
Global Botulinum Toxin Market – By Region
North America
South America
Europe
Asia Pacific
Middle East & Africa
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Competitive Landscape
The Botulinum Toxin market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Allergan, Eisai Co., Ltd, Hugel, Inc., Hugh Source International Ltd., Ipsen, Medytox, Inc., Merz Pharma, Evolus, Inc., AbbVie, Revance Therapeutics, Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the botulinum toxin market globally.
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Sai Kiran Sales Manager at DataM Intelligence Email: [email protected] Tel: +1 877 441 4866 Website: www.datamintelligence.com
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