DUBLIN--(BUSINESS WIRE)--The "Global Botulinum Toxin Market, By Product, By end user,& By Region- Forecast and Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Botulinum Toxin Market was valued at USD 5.75 Billion in 2021, and it is expected to reach a market size of USD 9.14 Billion by 2028, at a CAGR of 6.8 % over the forecast period (2022-2028).
The neurotoxin Botulinum Toxin (BNT) comes in seven different antigenic forms: The anaerobic bacterium Clostridium botulinum produces BNT-A, B, C, D, E, F, and G, which is frequently used in cosmetics. There are only a few BNT-A goods and one BNT-B product on the market at the moment.
However, opportunities for its therapeutic applications to expand the botulinum toxin market in the coming years are provided by significant investment in R&D initiatives. The growth of the global botulinum toxin market is being driven by a number of factors, including an increase in the demand for cosmetic, non-invasive surgical procedures, the introduction of new products, an improvement in affordability, and modifications to reimbursement policies to include botulinum injections.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Botulinum Toxin Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The global botulinum toxin market segmentation by type, end use, and region. By type, the market is segmented into botulinum toxin type A, botulinum toxin type B. Based on end use, the market is segmented into therapeutic and aesthetic. Based on region the global botulinum toxin market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Drivers
The Botulinum Toxin Market Is Being Driven by Rising Demand for Non-Invasive and Minimally Invasive Cosmetic Procedures
The market for botulinum toxin is being driven by rising demand for these procedures. Botulinum toxin is used to relax wrinkle-causing muscles. Additionally, it is used to smooth out skin imperfections.
The mouth, eyes, and forehead are the most frequently treated areas with botulinum toxin. Consequently, the annual number of cosmetic procedures is rising. Botulinum toxin will be the most widely used non-surgical cosmetic surgery worldwide by 2020. That year, plastic surgeons administered more than 6.2 million Botox injections. The second and third most common types of non-surgical cosmetic procedures worldwide were hair removal and hyaluronic acid, respectively.
Restraints
Botulinum toxin injection side effects in patients, including allergic reactions, rash, neck and back pain, difficulty swallowing, shortness of breath, and nausea, are anticipated to hinder the growth of the global botulinum toxin market. The toxin's spread throughout the body can lead to potentially fatal outcomes, such as botulism-like symptoms or systemic anaphylactic reactions. The use of botulinum toxin for cosmetic purposes rarely results in significant side effects.
Trends
Only 8 percent of men undergo cosmetic procedures, while women accounted for 92% of all cosmetic procedures worldwide. People over 40 are concerned about their appearance and want to look younger. As a consequence of this, they are placing an increased emphasis on cosmetic characteristics, particularly those that are preferred by women, particularly in developed nations. The botulinum toxin market is expected to expand as a result of these factors. Botulinum toxin surgery was performed on more than 2.5 million women worldwide in 2020 who were between the ages of 40 and 54.
Companies Mentioned
- AbbVie Inc. (US)
- Ipsen Pharma (France)
- Revance Therapeutics, Inc. (US)
- Merz Pharma (Germany)
- Medytox (South Korea)
- USWM, LLC. (US)
- GALDERMA (Switzerland)
- Lanzhou Institute of Biological Products Co., Ltd. (China)
- HUGEL, Inc. (Republic of Korea)
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