Botulinum Toxin Market Size, Share, Competitive Landscape and Trend Analysis Report by Product, by Application, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

Botulinum Toxin Market Research, 2031

The global botulinum toxin market size was valued at $5.8 billion in 2021, and is projected to reach $13.1 billion by 2031, growing at a CAGR of 8.6% from 2022 to 2031. Botulinum toxin is a neurotoxin created by the anaerobic, gram-positive rod-shaped bacterium Clostridium botulinum, which is typically found on plants, in soil, water, and animal intestinal tracts. Botulinum toxin weakens striated muscles by preventing alpha motor neuron transmission at the neuromuscular junction. This has led to its use in diseases like dystonia that have overactive muscles. In addition, gamma neurons in muscle spindles are blocked during transmission, which may change the overactivity of reflexes. In addition, the toxin prevents all parasympathetic and cholinergic postganglionic sympathetic neurons from releasing acetylcholine. Furthermore, at present, it is one of the most common and widely performed aesthetic procedures in the world. The increase in concerns over aesthetic features in developed and developing regions have led to rise in the number of cosmetic procedures.

Increase in demand for botulinum toxin is anticipated to increase globally during the forecast period, owing to the increase in geriatric population, rise in number of botulinum toxin procedure, and surge in self-awareness among people regarding aesthetic appearance. In addition, increase in investment by players in R&D, presence of robust pipeline candidates, rise in expenditure on the development of healthcare infrastructure and increasing affordability and amendments in reimbursement policies to cover botulinum injections further drive the botulinum toxin market growth. However, side effects associated with Botox procedures and high cost of procedures restrain the market growth in emerging countries. Conversely, growth potential of emerging economies is expected to offer lucrative growth opportunities for the key players in the market.

The botulinum toxin market size is segmented into Application, Product and End User. On the basis of product, the market is divided into botulinum toxin type A and botulinum toxin type B. On the basis of application, the botulinum toxin industry is classified into aesthetic and therapeutic. On the basis of end user, the market is classified into hospitals, Specialty and dermatology clinics and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By product, the botulinum toxin type A segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the forecast period, owing to the rise in customer preference owing to advantages including minimal pain, no blood loss, and lack of scarring during the procedure. In addition, Botulinum toxin type-A has been increasingly utilized to treat chronic migraine, tension-type headache, and other primary neurological disorders which further boost the market growth. On the other side, botulinum toxin type B segment is projected to exhibit the fastest market growth during the forecast period, owing to the expansion of the therapeutic indication chronic sialorrhea, possible approval of the product in merging regions and growing research and development to study other possible therapeutic uses of Myobloc.

By application, the therapeutic segment garnered the major botulinum toxin market share in 2021, and is anticipated to continue this trend during the forecast period, owing to increase in R&D activities and various advantages of botulinum toxin to treat chronic disease such as chronic migraine and cervical dystonia are the key reasons for the growth of the market.

By end user, the specialty and dermatology clinics segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the forecast period, owing to rise in prevalence of chronic disease and aesthetic problems such as frown lines, glabellar lines and crow’s feet. In addition, higher number of non-invasive cosmetic procedures performed in the specialty and dermatology clinics as compared to hospitals which further propel the segment growth.

By region, North America accounted for the major botulinum toxin market share in 2021, and is anticipated to maintain this trend during the forecast period owing to the rise in number of botulinum toxin procedures and increase in number of approvals for aesthetics products. In addition, presence of key players, and advancements in medical and aesthetic sector further boost the market growth. On the other hand, Asia Pacific is anticipated to register higher CAGR during botulinum toxin market forecast.

The major companies profiled in the botulinum toxin industry report include Merz Pharma GmbH And Co. Kgaa , Abbvie Inc (Allergan), Ipsen Group , Revance Therapeutics Inc, Medy-Tox, Inc., Hugel, Inc.,Galderma, Us Worldmed, Llc, Evolus Inc., and Daewoong Pharmaceutical.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the botulinum toxin market analysis from 2021 to 2031 to identify the prevailing botulinum toxin market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the botulinum toxin market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global botulinum toxin market trends, key players, market segments, application areas, and market growth strategies.

  Botulinum Toxin Market Report Highlights

Aspects	Details
Market Size By 2031	USD 13.1 billion
Growth Rate	CAGR of 8.6%
Forecast period	2021 - 2031
Report Pages	215
By Application	Aesthetic Therapeutic
By Product	Botulinum Toxin Type A Botulinum Toxin Type B
By End User	Hospitals Specialty and Dermatology Clinics Others
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Italy, Spain, Rest of Europe) Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players	REVANCE THERAPEUTICS INC, US WORLDMED, LLC, MERZ PHARMA GMBH AND CO. KGAA, Medy-Tox, Inc., EVOLUS INC., GALDERMA, HUGEL, INC., Abbvie Inc (Allergan), DAEWOONG PHARMACEUTICAL, Ipsen Group

Analyst Review

This section provides various opinions of the top-level CXOs in the botulinum toxin industry. In accordance with several interviews conducted, the utilization of botulinum toxin is expected to witness a significant rise owing to increase in non-invasive cosmetic procedures in both developed and developing economies.

Furthermore, the global botulinum toxin market growth is propelled by surge in geriatric population, increase in collaboration between pharmaceutical companies for development of botulinum toxin products, and rise in awareness associated with physical appearance.

North America accounted for the highest market share in 2021, due to growing number of cosmetic procedures, and heavy expenditure by the government on healthcare, followed by Europe and Asia-Pacific. Asia-Pacific is expected to exhibit fastest market growth due to increase in geriatric population. Pharmaceutical companies have focused on expanding their presence in emerging economies, which is anticipated to drive the market growth.

Author Name(s) : Prachi Sanjay Rakshe | Roshan Deshmukh

Related Tags

• Dermatology
• Drug Discovery
• Capsules