Global Botulinum Toxin Market
August 27, 2021 ⚊ 5 Min read ⚊ Views 274 ⚊ BUSINESS
Global Botulinum Toxin Market was valued US$ XX Bn in 2018 and is expected to reach US$ 8.17 Bn by 2026, at CAGR of XX% during forecast period.
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Botulinum toxin is a neurotoxin and has seven different antigenic forms namely Botulinum toxin – A, B, C, D, E, F and G which are produced by an anaerobic bacterium, clostridium botulinum. Botulinum toxin is extensively used for aesthetic purposes. At present, a few products of Botulinum toxin – A and only one product of Botulinum toxin – B are commercially available in the market.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Rising incidence of medical conditions such as chronic migraine, cervical dystonia, muscle spasticity, etc., will boost the botulinum toxin market growth. Also, the presence of major industry players coupled with growing product demand among the millennials as well as the middle-aged population will significantly drive the U.S. market. The global botulinum toxins market will witness considerable growth in the coming years because of the inflating demand for botulinum toxins across the globe.
On the other hand, high costs associated with aesthetic procedures and poor reimbursement coverage for such procedures are a few major growths hampering factors.
Based on the application, the therapeutics botulinum toxin segment accounted for a market share of around 57.5% in 2018. The growing prevalence of spasticity and cervical dystonia coupled with the increasing incidence of migraine will drive the therapeutics botulinum toxin segment. Moreover, increasing capital investments for R&D of such products will further supplement the botulinum toxin market growth.
Also, Aesthetic applications of botulinum toxin are expected to grow at XX% CAGR throughout the forecast timeframe. Botulinum toxin is mainly used as a treatment to reduce the appearance of fine lines and facial wrinkles.
Regionally, the North America market expected to capture the largest revenue share of XX% during the forecast period. Higher disposable income and availability of a variety of aesthetic procedures for enhancing external appearance is pushing the demand for the botulinum toxin in North America.
As well, Asia Pacific is expected to exhibit the highest growth in the future thanks to aging demographics and rising disposable income resulting in a higher demand for anti-aging products. Also, the growing social consciousness regarding the commercial availability of these products in the Asia Pacific is expected to augment the growth of the botulinum toxin market in the future.
The high demand for the botulinum toxin has led to numerous product innovations. Resulting from the high demand, there has been a subsequent rise in the number of product launches globally.
The report covers recent development of the market botulinum toxin, such as in January 2019, Huon’s Global declared the launch of a new botulinum toxin product in Korea. The Liztox was designed specifically to treat forehead wrinkles.
The objective of the report is to present comprehensive analysis of global botulinum toxin market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding global botulinum toxin market dynamics, structure by analyzing the market segments, and project the global botulinum toxin market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the global botulinum toxin market make the report investor’s guide.
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Global Botulinum Toxin Market, By Product Type
• Botulinum Toxin Type A
• Botulinum Toxin Type B
Global Botulinum Toxin Market, By End-user
• Specialty & Dermatology Clinics
• Hospitals & Clinics
• Others
Global Botulinum Toxin Market, By Application
• Aesthetic
• Therapeutics
Global Botulinum Toxin Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Botulinum Toxin Market
• Allergan Plc.
• Ipsen
• Revance Therapeutics, Inc.
• Merz Pharma
• Medytox
• US WorldMeds, LLC (Solstice Neurosciences, LLC)
• Galderma laboratories
• Lanzhou Institute of Biological Products Co., Ltd.
• AbbVie Inc
• Eisai Co., Ltd.
• Hugel Inc.
• Ipsen and Revance Therapeutics, Inc.
• Evolus, Inc.
• Hugh Source (International) Ltd.
• Daewoong Pharmaceuticals Co.Ltd.
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