New York, May 08, 2023 (GLOBE NEWSWIRE) -- In terms of revenue, The global Botulinum Toxin Market is estimated to exceed US$ 13.4 billion by 2032 from USD 6.1 billion in 2022, expanding at a CAGR of 8.4% during the forecast period 2023 to 2032. Botulinum toxin is created by the bacterium Clostridium botulinum. As it is injected into the muscle, the toxin blocks neural transmission by blocking the release of acetylcholine selectively from nerves. In medicine and science, the botulinum toxin is one of the unique substances ever generated owing to its rising use in cosmetology and aesthetic procedures worldwide.
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Key Takeaway:
- By product type, the type A segment accounted to hold the largest market share in 2022 and is expected to grow more over the forecast period from 2023 to 2032.
- By Applications, the therapeutic segment held the largest share globally in 2022 and is projected to expand significantly during the forecast period from 2023 to 2032.
- By End-User, the hospital's segment dominated the global market in 2022.
- In 2022, North America dominated the market with the highest revenue share of 39.0%.
- Asia-Pacific will likely grow at the fastest CAGR from 2023-2032.
Cosmetic procedures have been increased as a result of increasing concerns about the individual’s appearance in both developed and developed countries. The market's expansion is likely to be fueled by the availability of different types of botulinum toxin products like Botox, Xeomin, and Disport.
Factors Affecting the Growth of the Botulinum Toxin Market
There are several factors that can affect the growth of the botulinum toxin market. Some of these factors include:
- Rising concerns about aesthetic qualities: The numerous beauty treatments has increased due to the rising concerns about aesthetic qualities in both developing and developed countries.
- Rising R&D Expenditure: Despite increasing chances for the extension of botulinum toxin's in a medicinal-specific application, the major manufacturers are focused on increasing their expenditure on research & development activities to investigate the medicinal use of botulinum toxins, this in turn, increases the demand and supports the market growth.
- Minimally invasive medical surgery: A significant rise in the short supply of cosmetic surgery as well as non-invasive treatments such as cosmetic filler injections and botulinum toxin are expected to surge the market growth.
- Rising medicinal uses of botulinum toxin: Medicinal uses of botulinum toxin in cosmetic procedures opens the door for further advancement in application area such as in beauty treatments for the treatment of some conditions like forehead lines, crown feet, masseter brown lines / Bellar/ square jaw, and among other applications.
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Top Trends in Global Botulinum Toxin Market
The rising demand for high-end beauty products worldwide has greatly benefited botulinum toxin A products. Additionally, due to the therapeutic applications of botulinum toxins, numerous growth opportunities have been provided on the healthcare platform.
Men only perform 8 to 10% of all cosmetic procedures. However, women perform more than 90% of them across the globe. Over-40s are worried about what they look like and want to look younger. As a result, they are putting a greater emphasis on the cosmetic features that women, particularly in emerging countries, prefer.
Market Growth
A number of active pharmaceutical companies are gradually developing products to meet the growing demand for these drugs. Over the years, botulinum toxin has experienced rapid growth in the cosmetology industry, making it one of the most popular and widely used aesthetic procedures across the globe. The number of cosmetic procedures has increased due to the number of aesthetic concerns in both developed and developing nations.
Regional Analysis
North America dominated the global botulinum toxin market with the highest revenue share in 2022. This significant market share is mainly generated due to rising disposable income and an increasing number of cosmetic procedures. Moreover, this regional market will likely expand owing to the rising usage of cosmetic procedures executed in this country. The Asia-Pacific region is anticipated to expand at the fastest CAGR during the forecast period due to the large patient pool, favorable reimbursement policies, and availability of advanced healthcare facilities.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 6.1 Billion |
| Market Size (2032) | USD 13.4 Billion |
| CAGR(2023 to 2033) | 8.4% |
| North America Revenue Share | 39.0% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The market for botulinum toxin is being driven by rising costs, modifications in the reimbursement policies to support botulinum injections, and increased spending on healthcare infrastructure construction. There are numerous factors that influence the cost of botulinum toxin injections, such as how far along the wrinkles and fine lines are, how actively people want to treat the problematic areas, and consequently, how much product is being used. The market’s expansion is also expected to boost by the availability of numerous products like Dysport, Botox, and Xeomin.
In addition, it is expected that the rising use of botulinum toxin injection in various types of cosmetic procedures, including the treatment of perioral chemical browlift, glabellar, and periorbital lines, will likely increase the market share of botulinum toxin in the coming years.
Market Restraints
Over the forecast period, the market’s expansion is likely to slow down due to the significant expenses of botulinum toxin activities. Opportunities for market expansion may be limited by the fact that these procedures are not widely available to people in low-income countries.
Additionally, the botulinum toxin injection’s side effects, such as rash, allergic reactions, difficulty in swallowing, neck and back pain, nausea, and shortness of breath, are anticipated to hamper the growth of the global botulinum toxin market. This toxin can spread throughout the body, causing potentially fatal symptoms.
Market Opportunities
The rising demand for non-invasive surgical procedures, and cosmetics, the introduction of novel products, modifications in the reimbursement policies to include botulinum injections, and an improvement in affordability, together are expected to contribute to the expansion of the global botulinum toxin market. There are seven distinct antigenic forms of the (BNT) neurotoxin Botulinum Toxin. The clostridium botulinum is an anaerobic bacterium producing BNT-A, B, C, D, E, F, and G, which are frequently used in cosmetics. Currently, there are only a few BNT-A products and one BNT-B product available for purchase.
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Report Segmentation of the Botulinum Toxin Market
Product Type Insight
The botulinum toxin type-A segment is anticipated to expand significantly over the forecast period, accounting for the largest revenue share in 2022. This is largely due to rising customer preference because of benefits such as no blood loss, minimal pain, and no scarring. Primary neurological conditions like tension-type headaches and chronic migraines have gradually been treated with botulinum toxin type A.
Products containing botulinum toxin type A are increasingly utilized for numerous aesthetic and therapeutic purposes.
By Application Insight
The therapeutic segment dominated the global market for botulinum toxin in 2022. This segment expansion is mainly the impact of a deeper comprehension of its different mechanisms of action and molecular behavior, as well as the rising therapeutic benefits of botulinum toxin. Botox procedures are used for a variety of therapeutic and preventive treatments for the conditions like overactive bladders, hyperhidrosis, and chronic migraines.
End User Insight
The hospital's segment accounted for the highest revenue share in 2022. An increase in the number of hospitals in both developed and developing countries that provide advanced technology services and facilities, as well as a rise in public awareness for aesthetic procedures, largely contributes to the segment's expansion. In addition, the majority of treatments for chronic migraine, dystonia, and spasticity are carried out in hospitals. Thus, this segment is anticipated to grow more over the forecast period.
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Market Segmentation
By Product Type
- Type A
- Type B
By Application
- Aesthetic
- Therapeutic
By End-User
- Hospitals
- Dermatology Clinics
- Spas & Cosmetic Centers
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
The competitive landscape of the market has also been examined in this report. Some of the major players include
- Ipsen Pharma
- AbbVie Inc. Company Profile
- Medy-Tox, Inc.
- Merz Pharma
- US Worldmeds
- Evolus, Inc.
- Galderma
- Metabiologics Inc.
- Lanzhou Institute of Biological Products co.
- Tenjin Pharma
- Eisai Co., Ltd.
- Anika Therapeutics, Inc.
- Hugh Source International Ltd
- Revance Therapeutics
- Daewoong Pharmaceuticals
- Other Key Players
Recent Development of the Botulinum Toxin Market
- In July 2022, At the "Toxins 2022 International Conference," Fastox Pharma introduced the LAST technology, which is a long-lasting botulinum toxin. Fastox discovered that combining fast-acting myorelaxant medications with botulinum toxin type A (BoNT/A) is expected to speed up BoNT/A's onset of action.
- In Oct 2022, The US Food and Drug Administration (FDA) accepted Hugel's biologics license application for letibotulinumtoxinA. According to the Prescription Drug User Fee Act (PDUFA), the FDA has designated April 6, 2023 as the action date for the resubmission, which it deemed to be a Class 2 response.
- In 2022, PatientFi, a start-up in the patient payments industry that lowers the cost of elective procedures, expanded its co-marketing arrangement with Allergan Aesthetics to offer customers interested in procedures like Botox and other cosmetic treatments financing options.
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