Singapore, Feb. 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Botulinum Toxin Market by Product Type (Type A, Type B), Application (Therapeutics, Aesthetics) – Global Outlook & Forecast 2022-2030" published by Growth Plus Reports, the Botulinum Toxin Market is expected to grow at a CAGR of 4.78% from 2021 to reach US$ 9.31 billion by 2030.
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Growing application of botulinum toxin in cosmetic and aesthetic applications is the most prominent trend observed in the global botulinum toxin market. The market growth is attributed to increased demand for enhancing aesthetic appearance and growing awareness about the efficacy of botulinum toxin. People are becoming increasingly aware of the advantages of botulinum toxin for several aesthetic applications, particularly anti-aging. Botulinum toxin has proven efficacy for rapidly treating wrinkles, fine lines, and other aging indicators. It can also help enhance the overall look, and make the skin look rejuvenated. Additionally, as botulinum toxin treatment is becoming safer and more affordable, more and more patients are adopting botulinum toxin treatments. Moreover, due to the improving clinical evidence, the global demand for botulinum toxin treatments for conditions such as chronic migraine and overactive bladder.
The global botulinum toxin market has been analyzed from three perspectives: Product Type, Application, and Region.
Excerpts from ‘By Product Type’
The global botulinum toxin market based on product type is segmented into, type A and type B. Type A botulinum toxin market is further segmented into:
Between the two classifications, type A botulinum toxin segment has the prominent market share in 2021. Within the same segment, the uptake of Botox drug is the highest, due to the early market entry and the established brand presence in the global markets. Type A botulinum toxin is a refined version of botulinum toxin that is used to treat persistent sialorrhea, muscle stiffness, and dystonia. Type A botulinum toxin is most commonly used in aesthetic applications. It is used to treat fine lines and wrinkles on the face, notably upper facial rhytids such as the forehead, lateral canthus, and glabellar lines. In clinical trials, type A botulinum toxin has been used to treat neuromuscular disorders such as focal dystonia and pain relief associated with cervical dystonia and oromandibular dystonia.
Additionally, type B botulinum toxin is widely used in the treatment of muscular disorders such as cervical dystonia, and its use is projected to increase in the coming years. Type B botulinum neurotoxin reduces the severity, pain, and disability during cervical dystonia.
Excerpts from ‘By Application’
The global botulinum toxin market is divided into two segments, based on application, viz.:
The therapeutics segment at present leads the botulinum toxin market. Chronic migraine, cervical dystonia, overactive bladder, spasticity, and other conditions come under this category. Among these subsegments, the demand for botulinum toxin for spasticity treatment is the highest. The high uptake of botulinum toxin-based treatments for spasticity is mainly owing to the growing prevalence of conditions such as multiple sclerosis. The therapeutics application of botulinum toxin is also expanding as a result of increasing R&D efforts by the market participants. For instance, in July 2020, Allergan PLC reported that the US FDA approved BOTOX®, a supplemental Biologics License Application (sBLA) for the treatment of lower limb muscle spasticity in young patients older than 2 years old with cerebral palsy.
Excerpts from ‘By Region’
Geographically, the global botulinum toxin market is segmented into:
- North America
- Asia Pacific
- The Rest Of The World
North America leads the global market both in terms of the volume of procedures and revenue generation. Popularity of cosmetic procedures is the major trend supporting this trend. Aesthetic procedures are more affordable in North America. Moreover, the popularity of enhancing aesthetic appearance is also a major trend in the region. These factors support the high uptake of botulinum toxin in North America market. High number of aesthetic service providers, practitioners, and plastic surgeons in North America has resulted in a significant increase in the uptake of aesthetic surgeries, thus help drive the sales of botulinum toxin and boost the North America botulinum toxin market.
The European region is characterized by high awareness and approvals to various applications of botulinum toxin. Due to the growing public awareness, an aging population, and a growing need to look young, botulinum toxin procedures much more common in Germany. High disposable incomes and medical expenditure also contribute to the prominent position of Europe botulinum toxin market on the global front. The Asia Pacific region is expected to show high growth in forecast period. The regions growth is anticipated to increase due to rising public awareness, increased R&D for products, and rapidly improving healthcare standards.
Excerpts from ‘Competitive Landscape’
Some prominent players operating in the global botulinum toxin market are:
- Evolus Inc.
- Ipsen Group
- Allergen Inc.
- Medy-Tox Inc.
- Merz Pharma Gmbh
- Lanzhou Institute Of Biological Products
- Galderma S.A.
- Abbvie Inc.
- Eisai Co., Ltd.
- Hugel Inc.
Browse Detailed Summary of Research Report with TOC:
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecast Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trend (COVID-19 Perspective)
- Technological Trends
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- GLOBAL BOTULINUM TOXIN MARKET- ANALYSIS & FORECAST, BY PRODUCT TYPE
- Type A
- Type B
- Type A
- GLOBAL BOTULINUM TOXIN MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Chronic Migraine
- Cervical Dystonia
- Overactive Bladder
- Crow’s Feet
- Glabellar Lines
- Forehead Lines
Scope of the Report:
|Market size value in 2021||US$ 6.12 billion|
|Revenue forecast in 2030||US$ 9.31 billion|
|Growth Rate||CAGR of 4.78% from 2022 to 2030|
|Base year for estimation||2021|
|Segments covered||Product Type, Application, and Region.|
|Regional scope||North America, Europe, Asia Pacific, and the Rest of the World (ROW)|
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
- Distributor Landscape Assessment
- Pipeline Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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