The botulinum toxin market is expected to grow ata rate of 6.9% to reach USD 10.7 billion by 2031 . The healthcare vertical is likely to embark on a technologically advanced path within the next 10 years as a value-driven approach becomes the imperative of the moment. With big data and artificial intelligence encompassing these advancements, the healthcare vertical is bound to make even greater strides.
According to the latest industry analysis by Persistence Market Research, the global botulinum toxin market was valued at USD 5.1 billion in 2020 and is expected to grow at a CAGR of 6.9% during the forecast period 2021-2031 .
Botulinum toxin ( onabotulinumtoxina ) is a neurotoxin produced by botulinum toxin. Toxins come in two forms – Type A and Type B. This toxin is used in the treatment of muscle stiffness or cramps, migraines, hyperhidrosis, overactive bladder, salivation, and in cosmetic applications such as skin wrinkles, forehead lines, crow’s feet, frown lines, dermal fillers, and more.
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The post-pandemic period has experienced a phenomenon known as the “zoom boom,” in which most working professionals are constantly using video conferencing apps like Zoom, Google Meet, etc. more understanding of appearance. As a result, cosmetic procedures such as Botox treatments, dermal fillers, etc. are in high demand.
- For example, the U.S. population spent more than $9 billion on plastic surgery in 2020, according to the Society of Aesthetics.
The frequent approval of various botulinum toxin products has also resulted in these products being cost-effective in the market for consumers to choose from. This in turn has led to a growing demand for various Botox procedures around the world. Treatment procedures with Botox are non-invasive, which makes them the most sought after.
For example, in July 2020, Allergan PLC announced FDA approval of its product BOTOX®, a supplemental Biologics License Application (sBLA) for the treatment of lower extremity muscles in pediatric patients over 2 years of age with cerebral palsy spasms.
Company Profile:
- Allergan PLC
- American World Medicine
- Xiuyuan (International) Co., Ltd.
- Goldman Laboratories.
- Revance Therapeutics, Inc.
- Ipsen Pharmaceuticals
- Merz Pharma GmbH & Co. KGaA
- Ohuma Pharmaceutical Co., Ltd.
- Hugel Pharmaceuticals
- Medy-Tox Corporation
- Lanzhou Institute of Biological Products Co., Ltd.
- Teijin Pharmaceutical Co., Ltd.
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The main content of market research
- Botulinum toxin A can be used in various therapeutic and cosmetic dermatological procedures, leading the botulinum toxin market with over 98% share.
- Therapeutic uses of this neurotoxin, such as the prevention of migraine headaches, as well as the treatment of hyperhidrosis, salivation, overactive bladder and muscle spasms, are more popular than cosmetic uses of the toxin and thus account for more than half of the total market share.
- Specialist clinics are more suitable for botulinum toxin procedures than hospitals, spas or aesthetic clinics and are expected to expand at a CAGR of 6.9% during the forecast period.
- North America accounts for nearly 60% of the global market share.
“Increased use of botulinum toxin in therapeutic and cosmetic applications will drive market growth in the coming years,” said an analyst at Persistence Market Research.
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market competition
Major suppliers of botulinum toxin are focusing on forming strategic partnerships to market their products, gaining approvals from various regulatory agencies around the world, and expanding their product portfolio to gain a market foothold.
- Merz Therapeutics has partnered with Teijin Pharma Ltd to market Xeomin®, an incobotulinumtoxin A, in June 2021. In August 2021, in cooperation with Vensica Therapeutics, innovative needle-free injection of botulinum neurotoxin for the treatment of overreaction of the bladder.
What does the report cover?
Persistence Market Research provides a unique perspective and actionable insights into the Botulinum Toxin market in its latest research, presenting a historical demand assessment 2016-2020 and forecast 2021-2031.
Research based on product (types A and B), application (cosmetic (crow’s feet, forehead, glabella/glabellar, square jaw/masseter, etc.) and treatment (chronic migraine, muscle spasms, overreaction) bladder, Hyperhidrosis and others)) and end users (hospitals, specialist clinics and spa and beauty clinics) in seven major regions of the world.
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