Botulinum Toxin Market Insights
Botulinum toxin is obtained from Clostridium botulinum, which is responsible for the disease known as botulism. One of the most famous applications of botulinum toxin include its use in tightening the skin on the face and rest of the body. However, in smaller doses, botulinum toxin can have various beneficial effects on the human body. Botulinum toxin causes a tightening of the skin due to its action on the nervous system. This can result in a younger looking appearance of the patient. Due to this, botulinum toxin is widely used in cosmetic procedures to improve the appearance of the patient and make them appear younger. Many entertainment industry bigwigs use botulinum toxin, commonly known as botox, to improve their appearance and look younger.
The global botulinum toxin market is mainly driven by the growing demand for facial reconstruction surgeries and the growing prevalence of chronic migraines and cervical dystonia. The global botulinum toxin market is expected to exhibit a solid 10.3% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global botulinum toxin market was valued at USD 4.1 billion in 2018 and is expected to rise to a valuation of USD 9.4 billion by 2025, according to the report. On the other hand, growing awareness about the adverse effects of botulinum toxin is likely to be a key restraint on the global botulinum toxin market. In recent years, the common public has also become a major consumer of botulinum toxin, as awareness about the process has grown and the process has become more accessible to common citizens. This is likely to remain a major driver for the global botulinum toxin market over the forecast period.
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Botulinum toxin also has some therapeutic applications, particularly in spasticity, migraines, and cervical dystonia. The growing prevalence of these conditions is likely to be a major driver for the botulinum toxin market over the forecast period. On the other hand, the increasing awareness about the adverse effects of botulinum toxin and the increasing number of people opting not to alter their appearance synthetically is likely to be a key restraint on the global botulinum toxin market over the forecast period.
Botulinum Toxin Market Segmentation:
The global botulinum toxin market is segmented on the basis of product type, application, end use, and region.
By product type, the global botulinum toxin market is segmented into botulinum toxin type A and B. The type A segment holds a dominant share of more than 96% as of 2018 and accounts for an overwhelmingly dominant share in the global botulinum toxin market. Botox, Dysport, and Xeomin are among the leading brands of botulinum toxin type A.
By application, the global botulinum toxin market is segmented into therapeutic and aesthetics. The therapeutic segment is further sub-segmented into chronic migraine, spasticity, cervical dystonia, overactive bladder, blepharospasm, and others. The therapeutic segment holds the dominant share in the global botulinum toxin market.
By end use, the global botulinum toxin market is segmented into dermatology centers, hospitals and clinics, and others.
Botulinum Toxin Market Competitive Leaderboard:
Leading players in the global botulinum toxin market include Revance Therapeutics Inc., Medytox, Hugel Inc., Evolus Inc., US WorldMeds LLC (Solstice Neurosciences LLC), Ipsen Pharma, Daewoong Pharmaceutical Co. Ltd., Galderma SA, Merz Pharma GmbH & Co KGaA, and Allergan PLC.
In September 2019, Medytox launched Coretox, a new botulinum product.
The same month, Ipsen Pharma received FDA approval for the use of Dysport for the treatment of lower limb spasticity in pediatric patients.
Botulinum Toxin Market Regional Analysis:
The Americas dominate the global botulinum toxin market, accounting for more than 48% of the global market in 2018. The growing demand for aesthetic botox treatments in North America, particularly the U.S., is likely to be the major driver for the botulinum toxin market in the Americas region over the forecast period. The increasing presence of leading players such as Hugel, Evolus, and US WorldMeds in the U.S. is likely to be a major driver for the botulinum toxin market in the Americas over the forecast period.
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