Covina , May 02, 2023 (GLOBE NEWSWIRE) -- Botox is a brand name for a type of purified protein produced by the bacterium Clostridium botulin. It is used in medicine and cosmetic procedures to temporarily paralyze muscle activity. Botox injections are a popular and minimally invasive treatment for reducing the appearance of fine lines and wrinkles, as well as treating certain medical conditions. In cosmetic procedures, Botox is injected into specific muscles to temporarily block nerve signals that cause muscle contractions. This can help smooth out wrinkles and fine lines in the treated area, giving the skin a more youthful appearance. Botox is commonly used to treat forehead lines, crow's feet, and frown lines between the eyebrows. Botox is considered a safe and effective treatment when administered by a qualified healthcare provider. However, as with any medical procedure, there are potential risks and side effects, including pain at the injection site, swelling, bruising, and muscle weakness. It is important to discuss the risks and benefits of Botox with a healthcare provider before undergoing treatment.
| Attributes | Details |
| Botox Market Value (2020) | US$ 5.15 billion |
| Botox Market Projected Value (2030) | US$ 10.60 billion |
| Botox Market CAGR (2020 – 2030) | 7.50%. |
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Key highlights
- In September 2022, the anti-wrinkle injection from Revance Therapeutics, which is a competitor to market leader AbbVie's Botox, which has long dominated the cosmetic market, was given approval by the U.S. Food and Drug Administration. The injection offers an appealing substitute for currently available therapies with the ability to give long-lasting benefits with as few as two treatments per year.
- In December 2022, Gufic biosciences launched India’s first indigenous botulinum toxin injection “Zarbot”. Compared to other botulinum toxin brands, this injection was produced utilizing the pure Hall strain and patented technique, which produces thin film formulation.
Analyst View
The population of the world is ageing, and as people age, fine lines and wrinkles grow more frequently. The demand for Botox is anticipated to increase as the population ages because it is a popular and successful therapy for delaying the effects of ageing. As people become more aware of the various cosmetic treatments available, the demand for Botox is expected to increase. The rise of social media and the prevalence of beauty influencers have contributed to the growth of the cosmetic industry, including the Botox market. Advances in technology are improving the efficacy and safety of Botox treatments. For example, the use of micro-needles and micro-injections is improving the precision of Botox administration, which may lead to better outcomes and increased patient satisfaction and demand for the growth of Botox Market is likely to increase within the forecast period.
Detailed Segmentation analysis of Botox Market:
By Product Type:
-
- Botulinum Toxin Type A
- Botulinum Toxin Type B
By Application:
-
- Cosmetics
- Therapeutics
- Chronic Migraine
- Spasticity
- Muscle Spasms
- Overactive Bladder
- Others
By End-User:
-
- Hospitals
- Clinics
- Beauty Clinics and Spas
By Geography:
-
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East and Africa
- North America
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Botox Market”, By Type (Botulinum Toxin Type-A and Botulinum Toxin Type-B), By End-use (Therapeutic Use and Aesthetic Use), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - forecast till 2029
Key Market Insights from the report:
The Botox Market accounted for US$ 5.15 billion in 2020 and is estimated to be US$ 10.60 billion by 2030 and is anticipated to register a CAGR of 7.50%. over the forecast period. The market report has been segmented on the basis of type, end-use, and region.
- By type, the botulinum toxin type-A segment held a prominent share of the global botox market in 2018. 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 propelling the global market
- By end-user, the therapeutics end-use segment dominates the global market, 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
- By region, North America is the largest supplier of botox and dominates the global botox market, owing to the rise in awareness level regarding non-surgical esthetic and therapeutic procedures. The global market in North America is expected to maintain its dominant position over the forecast period. The global botox market in Europe is the second largest supplier of botox and is expected to expand over the forecast period, due to increase in geriatric population
Competitive Landscape & their strategies of Botox Market:
The prominent player operating in the global botox market includes
- Allergan, Inc.
- Ipsen Pharma SA
- Merz Pharma GmbH & Co.
- KGaA
- Medytox, Inc.
- US Worldmed
- LLC
- Metabiologics, Inc.
- Lanzhou Institute of Biological Products Co. Ltd.
- Revance Therapeutics, Inc.
- Allergan, Inc.
- Ipsen Group
- Merz Pharma GmbH & Co.Top of Form
What are the Recent Driver Factor in the Botox Market?
- Increasing Demand for Minimally Invasive Cosmetic Procedures: Botox is a minimally invasive procedure that can reduce the appearance of wrinkles and fine lines. As more people seek non-surgical cosmetic treatments, the demand for Botox has increased.
- Growing Prevalence of Chronic Diseases: Botox has therapeutic applications and is used to treat chronic conditions such as migraines, spasticity, and muscle spasms. The growing prevalence of these diseases has led to an increase in demand for Botox.
- Growing Awareness about the Benefits of Botox: With advancements in technology and greater accessibility to information, more people are becoming aware of the benefits of Botox. As a result, the demand for Botox has increased, particularly in the Asia Pacific region.
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