Botulinum
Toxin Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
The global Botulinum Toxin
Market size is expected to value at USD 7.3 billion by 2025. The market is
subject to witness a substantial growth due to the ever-growing population and
rising number of minimally invasive or non-invasive procedures performed each
year. Botulinum toxin is commonly used as a neurotoxin, which is typically
found in various antigenic forms namely BNT-A, BNT-B, BTT-C, BNT-D, BNT-E,
BNT-F and BNT-G.
These antigenic forms are
produced with the help of an anaerobic bacterium, Clostridium botulinum. Common
application of the botulinum toxin is the aesthetic therapy. Hence, these
factors are expected to play vital for sustained market growth in the upcoming
years. Globally, the botulinum toxin industry is predicted to grow at higher
CAGR in the forecast period, providing numerous opportunities for market
players to invest for research and development in the market of botulinum
toxin.
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However, use of botulinum
toxin has severe side effects such as allergic reactions, rashes, neck and back
pain, thus liming market growth to a certain extent. Unauthorized use of
botulinum toxin can also lead to difficulty during swallowing food, shortness
of breath and nausea thereby further restraining market advancement.
Furthermore, higher cost of these expensive procedures coupled with minimum
availability of the products like Myobloc by Solstice are expected to
negatively affect overall market performance. Yet, increasing adoption of
neurotoxins in therapeutics as well as cosmetic application are expected to
fuel market demand for botulinum toxin over the next seven years.
Botulinum toxin is gaining
a wide popularity in cosmetic as well as aesthetic applications due to
properties such as anti-aging and facial therapy. Rise in the number of
application of botulinum toxin involving treatment of frown lines, crow’s feet
lines, and glabellar lines are anticipated to boost market growth over the forecast
period. The aesthetic segment has largest share in the botulinum toxin market
in the last few years. Additionally, increasing approval rate by regional and
international authorities are predicted to drive market demand over the next
seven years.
For instance, FDA has
approved use of botulinum toxin for the treatment of hyperhidrosis, cervical
dystonia, post-stroke upper limb spasticity, and urinary incontinence &
overactive bladder. Rise in the number of research & development activities
coupled with favorable government laws & regulation are expected to offer
lucrative growth opportunities for market players in the near future. Botox
injections involving botulinum toxin weaken and completely paralyzes muscles
and blocks certain nerves, which is influential during complex treatments. The
effect of botulinum toxin commonly lasts about three to twelve months depending
on the type of treatment.
The botulinum toxin
industry is broadly categorized into two major segments based on the
application type such as therapeutics and aesthetic. The aesthetic industry is
considered as one of the faster growing segment in the botulinum toxin market
with substantial revenue generation in the last few years. Growing popularity
of the botulinum toxin in the segment attributes to the numerous application
such as improving the facial appearance and reduction in signs of aging. The
therapeutics segment has also witnessed substantial growth owing to the
increasing approval rate across the globe for the use of botulinum toxin.
The botulinum toxin
industry is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in the healthcare sector,
higher disposable income, availability of a variety of aesthetic procedures for
enhancing external appearance and existence of well-established infrastructure.
Asia-Pacific region is
predicted to hold major market share in the botulinum toxin market with massive
growth in forecast period. Countries such as India, China and Singapore are
leading the Asia-Pacific market with increasing healthcare expenditure, rising
awareness among consumers, and significant investment by leading industry
players considering potential growth opportunities in the region. The key
players in the botulinum toxin industry are Allergan, Inc., Ipsen Group AG,
Merz Pharma GmbH & Co., KGaA, Medytox Inc., US Worldmed, LLC, Lanzhou
Institute of Biological Products Co., Ltd., and Revance Therapeutics, Inc.
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