Global Botulinum Toxin Market Industry Outlook, Trend, Growth and Share Estimation Analysis
This report analyzes the current and future scenario of the global botulinum toxin market. Botulinum toxin is a neurotoxin that is produced by the bacterium clostridium botulinum. There are around eight types of botulinum toxins A-H, produced by the bacterium. Botulinum toxin type A is capable of causing diseases in humans; however, it is widely utilized commercially and medically for the treatment of several aesthetic diseases such as glabellar lines, crow’s foot, and face and forehead wrinkles. Botulinum toxin is also utilized in the therapeutic treatment of spasticity, cervical dystonia, and migraine. Botulinum toxin procedure is a non-surgical cosmetic procedure that is noninvasive or minimally invasive in nature. Botulinum toxin procedure is a non-surgical and noninvasive or minimally invasive and has several advantages, such as no downtime, less time of surgery, no need of hospitalization, and faster recovery, over conventional cosmetic or aesthetic surgeries.
The global botulinum toxin market is expanding at a high pace owing to the increase in prevalence of cervical dystonia and upper limb and lower limb spasticity. Rise in global geriatric population and adoption of new non-surgical aesthetic procedures is fuelling the market. Growing incidences of glabellar lines, face and forehead wrinkles, and crow’s foot and consistent worldwide rise in cases of migraine are boosting the market. Furthermore, rising number of skilled professionals performing non-surgical botulinum toxin procedures, favorable government regulations regarding the commercial usage of botulinum toxins, and advantages of faster onset of action of botulinum toxin procedure over traditional cosmetic procedure are propelling the botulinum toxin market.
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Global Botulinum Toxin Market Witness Most Promising Rise in Demand:
The global botulinum toxin market was valued at US$ 4,527.0 Mn in 2017 and is projected to reach US$ 8,718.7 Mn by 2026, expanding at a CAGR of 7.6% from 2018 to 2026. Increase in the prevalence of spasticity and cervical dystonia and the number of cases of migraine is expected to drive the botulinum toxin market during the forecast period. Surge in the rate of adoption of non-surgical botulinum toxin procedures, due to their noninvasive or minimally invasive nature, is boosting botulinum toxin market. Rise in the number of worldwide geriatric population and incidences of esthetic issues, such as crow’s foot and lateral canthal lines, is a key factor that is anticipated to propel the botulinum toxin market during the forecast period. However, lack of awareness regarding the advancements in non-surgical esthetic and therapeutic procedures is a major factors hampering revenue generation in the global botulinum toxin market.
The global botulinum toxin market has been segmented into product type, application, and region. In terms of product type, the market has been classified into botulinum toxin type A and botulinum toxin type B. The botulinum toxin type A segment held a prominent share of the global botulinum toxin market in 2017. Increase in prevalence of cervical dystonia, spasticity, glabellar lines, and crow’s foot and rise in the use of botulinum toxin type A are key factors driving the market. The botulinum toxin type B segment is expected to expand at a considerable CAGR during the forecast period. Advantages of botulinum toxin type B, such as faster onset of action and faster recovery time, and introduction of new and improved type B products in the market for new indications are major factors propelling the segment. Based on application, the global botulinum toxin market has been segregated into esthetic and therapeutics. The therapeutics segment dominated the global botulinum toxin market in 2017, owing to global rise in the cases of migraine and increase in the demand for non-surgical therapeutic procedure, which is noninvasive or minimally invasive in nature. The esthetic segment is anticipated to expand at a higher CAGR during the forecast period, owing to the increase in prevalence of lateral canthal lines and face wrinkles.
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Key Players of Botulinum Toxin Market Report:
Prominent players operating in the global botulinum toxin market include Allergan, Inc., Ipsen Group, Merz Pharma GmbH & Co. KGaA, Medytox, Inc., US Worldmed, LLC, Galderma, Metabiologics, Inc. (US), Lanzhou Institute of Biological Products Co. Ltd. and Revance Therapeutics, Inc. Allergan, Inc., Ipsen Group, and Merz Pharma GmbH & Co. KGaA are the prominent global market players in the botulinum toxin market. Allergan, Inc. has strong regional presence, either direct or through subsidiaries, distributors, and partnerships. Extensive research & development, international presence, robust marketing, and product reliability, provide the company, an upper hand over its competitors.
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