Botulinum Toxin Market Highlights
Botulinum toxin is known as one of the most poisonous biological substances. It is a neurotoxin produced by the bacterium Clostridium botulinum. There are seven distinct forms of botulinum toxin, types A–G. Four of these (types A, B, E, and rarely F) cause human botulism. Botulinum toxin A and B are used for therapeutic and aesthetic procedures. The increasing cases of spasticity, cervical dystonia and chronic migraine, surge in demand for facial aesthetic, and rising number of product launches and approvals by key players are likely to drive the growth of the global botulinum toxin market during the forecast period.
The botulinum toxin market size is projected to reach USD 6.5 billion by 2030, at a CAGR of 11.80% from 2022 to 2030.
Segment Analysis
The Global Botulinum Toxin Market outlook, by type, has been segmented into botulinum toxin type A and B. Rising adoption of botulinum toxin in aesthetic procedures as compared to tissue fillers and increasing product approvals by regulatory authorities is anticipated to drive the growth of this segment during the forecast period. As per the Plastic Surgery Statistics Report published in 2018 by the American Society of Plastic Surgeons, the number of cosmetic minimally invasive procedures involving the use of botulinum toxin type A was 7.43 million in 2018, whereas the processes involving the use of soft tissue fillers were 2.67 million in 2018 in the US.
The Global Botulinum Toxin Market, by application segment, has been segmented into therapeutic application and aesthetics applications.
The therapeutics segment has been further divided into a chronic migraine, spasticity, cervical dystonia, overactive bladder, blepharospasm, and others.
Based on end-user, the global botulinum toxin market has been classified into dermatology centers, hospitals clinics, and others.
Market Players
The Global Botulinum Toxin Market Players - Allergan PLC, Merz Pharma GmbH Co KGaA, Galderma S.A., Daewoong Pharmaceutical Co., Ltd, Ipsen Pharma, US WorldMeds, LLC. (Solstice Neurosciences, LLC), Evolus, Inc., Hugel, Inc, Medytox, Revance Therapeutics, Inc., and others.
Regional Analysis
The Botulinum toxin research international Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East Africa.
The Americas is likely to hold the largest share of the global botulinum toxin market. The Americas is divided into North America and Latin America. North America has been further subdivided into the US and Canada. The increasing product approvals, rising cases of spasticity, and the presence of major manufacturers such as US WorldMeds, LLC., Evolus, Inc., Hugel, Inc., and Revance Therapeutics, Inc. in the region is expected to drive the market growth in this region.
Europe established substantial growth in the market owing to rising botulinum toxin procedures and the presence of developed economies such as Germany, the UK, and France. Additionally, there is an increasing demand for minimally invasive cosmetic procedures to enhance the young-looking appearance, which in turn is driving the growth of the market in this region.
Asia-Pacific is estimated to be the fastest-growing region in the global market due to the growing geriatric population, rising per capita disposable income, developing healthcare infrastructure, medical tourism, booming entertainment industry, and rising investments by major players in the regional market are likely to drive the growth of the market.
The botulinum toxin market in the Middle East Africa is expected to grow due to the rising awareness about botulinum toxin coupled with developing healthcare infrastructure and rising demand for products from countries like Saudi Arabia and UAE.
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