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A11935 | Pages: 215 | Charts: 57 | Tables: 141 |
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.
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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.
[PRODUCTGRAPH]
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.
[APPLICATIONGRAPH]
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.
[ENDUSERGRAPH]
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.
[REGIONGRAPH]
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 Market Segments
Key Market Players