Global Botulinum Toxin Market: Information by Type (Botulinum Toxin A and Botulinum Toxin B), Application (Aesthetic and Therapeutic), End User (Dermatology Centers, Hospitals and Clinics and others) and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa) – Forecast till 2027
MRFR (Market Research Future) projects the botulinum toxin market 2020 to record a growth rate of 10.3% during the evaluation period (between 2018 and 2025). The market size can touch USD 9442.93 Million by 2025, adds the MRFR report. We will provide COVID-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
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Primary Boosters and Key Deterrents
Botulinum toxin is majorly used for treating numerous aging signs that include forehead lines, frown lines, crow’s feet, square jaws, and more. Botulinum toxin injection helps directly inject Botox into the muscle to curb the spasms. Also, the increased prominence of acute migraine and cervical dystonia along with the surging incidences of muscle spasticity can favor the botulinum toxin industry during the review timeline. Ageing signs are reduced with botulinum toxin procedures, and with the emerging trend among middle-aged female population of staying beautiful and young could further induce significant market growth.
The dramatic increase in medical ailments like muscle spasticity, cervical dystonia and chronic migraine has boosted the demand for botulinum neurotoxin and can continue doing so over the following years. The extensive distribution network of renowned industry vendors combined with the rising preference for the procedures among millennials and the middle-aged populace can also encourage market growth over the years ahead. Soaring number of state-of-the-art medical facilities is drawing in more number of people, while the increasing disposable income and purchasing capacity also contribute. It is expected that the rising number of these facilities in developing countries will further elevate botulinum toxin procedures. Social media’s growing influence on the youth and the continuously evolving beauty trends will also add to the market value in the next few years.
There has been a sharp hike in the number of manufacturers of botulinum across various nations, which is bound to foster market expansion. The botulinum toxin market growth is also bolstered by the surge in FDA approvals for different products, encouraging manufacturers to focus more on R&D activities. For instance, in September 2020, Ipsen Biopharmaceuticals got USFDA approval pertaining to its Dysport/abobotulinumtoxinA, which caters to pediatric patients. The approval is expected to help the company focus on children that suffer from cerebral palsy, offering them spasticity treatment that extensively uses Dysport.
The botulinum toxin industry study by MRFR highlights segments such as type, application and end-user.
The key Botulinum Toxin types in the global market include botulinum toxin type A and B. Botulinum toxin type A is set to take the lead, attaining a share of 96.29% over the evaluation period, on account of the significant availability of these types around the globe. Xeomin (Merz Pharma GmbH & Co KGaA), Dysport (Galderma SA), and Botox (Allergan PLC) are some of the top brands selling the botulinum toxin A type worldwide.
Application of botulinum is primarily in therapeutic and aesthetic. Some of the top therapeutic-based categories are spasticity, chronic migraine, blepharospasm, cervical dystonia, overactive bladder, and more.
Dermatology Centers, hospitals & clinics, and others are the key industry end-users.
Botulinum toxin market size has been extensively covered, with respect to regions including Europe, MEA or Middle East & Africa, Asia Pacific or APAC, and the Americas.
The American market, led by developed economies like Canada and the US, is on track to secure the top position in the next couple of years. Thanks to the increasing burden of spasticity issues and the extensive presence of reputed companies like US WorldMeds LLC, Evolus Inc., Hugel, Inc. and Revance Therapeutics Inc., the Americas is touted to be a formidable market. The rise in approvals granted by the FDA will also work in the regional market’s favor. To illustrate, in September 2020, FDA approved AEON Biopharma Inc.’s Investigational New Drug, ABP-450 that is used or treating cervical dystonia. This approval is anticipated to help AEON Biopharma Inc. bolster its portfolio of therapeutic botulinum toxin.
Europe, formed by Western Europe and Eastern Europe, is a strong contender in the global market as well. Western Europe, comprising developed countries like France, Germany, Spain, the UK, and Italy, will emerge at the top, in view of the strong demand for facial aesthetics and the consequent increase in botulinum toxin procedures. Considerable influence of the social media on the millennials, and the growing focus on grooming as well as physical appearance should benefit the European market.
The APAC market is most likely to record the fastest CAGR of 11.01% from 2019 to 2025, on account of the expanding target patient pool and the rise in disposable income that has boosted peoples’ purchasing capacity. The growth in the number of elderly people and the increased preference among them for anti-aging products contribute significantly to the market value. The region also observes a rise in social awareness about the accessibility of BTN injection and other related products, which can mean substantial business growth in the ensuing years.
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Top companies active in the BTN industry are Daewoong Pharmaceutical Co., Ltd, Allergan PLC, Medytox US WorldMeds LLC. (Solstice Neurosciences, LLC), Hugel, Inc, Ipsen Pharma, Evolus Inc., Revance Therapeutics Inc, Merz Pharma GmbH & Co KGaA, Galderma S.A., among others
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