Botulinum Toxin Market Share, Size, Trends, Industry Analysis Report, By Type (Type A and Type B), By Application, By End-use, By Region, Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 115
- Format: PDF
- Report ID: PM1318
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global botulinum toxin market was valued at USD 7.12 billion in 2023 and is expected to grow at a CAGR of 11.3% during the forecast period.
The gram-positive anaerobic bacteria clostridium botulinum produces the neurotoxin known as botulinum toxin. The substance may be divided into seven neurotoxins, which differ in antigens and serology but are structurally related. The only commercially accessible versions on the market are Type A and B.
The market research report offers an in-depth analysis of the industry to support informed decision-making. It offers a meticulous breakdown of various market niches and keeps readers updated on the latest industry developments. Along with tracking the Botulinum Toxin Market on the basis of SWOT and Porter’s Five Forces models, the research report includes graphs, tables, charts, and other pictorial representations to help readers understand the key insights and important data easily.
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Currently, there has been a significant demand for less invasive cosmetic operations. Thus, several medical diseases and cosmetic treatments are managed with Botox items. The market is expanding due to the introduction of new medicines, rising affordability, and changes made to reimbursement guidelines to include these items for therapeutic use.
Leading companies in this market are concentrating on ongoing innovation and upgrading their product portfolio for better aesthetics and enhanced patient therapeutic results. This fact also accelerated the market growth. For instance, in April 2022, AbbVie Inc. conducted a clinical trial to evaluate the efficacy and security of injecting patients having open-chest heart surgery with botulinum toxin type A (AGN-151607) to avoid post-operative atrial fibrillation. Additionally, the rising significance and desire for aesthetic appearance and the rise in disposable money internationally spur the demand for Botox treatment globally.
All industries were affected by the coronavirus outbreak, including the cosmetics industry since the regulatory organizations put tight limits in place as a precaution. Aesthetics-related product supply chains were also impacted. However, when demand for botox increased during the epidemic, there was an increase in the selling of botulinum toxin. Over 6 million treatments or surgeries, including cosmetic Botox, are carried out annually. Since the COVID-19 epidemic started, demand for aesthetic procedures like botox and fillers has dramatically increased.
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Industry Dynamics
Growth Drivers
Botulinum toxin is becoming more and more popular in minimally invasive and non-invasive aesthetic procedures. The wrinkle-causing muscles can be relaxed with botulinum toxin. It is also applied to lessen the appearance of skin imperfections. The forehead, eyes, and mouth are the locations that receive botulinum toxin treatments the most frequently. Because of this, more cosmetic treatments are being done annually. Botulinum toxin injections surpassed all other non-surgical cosmetic procedures in popularity in 2020. Plastic surgeons performed more than 6.2 million Botox injections throughout that year. The second and third most popular non-surgical cosmetic procedures globally were hyaluronic acid and hair removal.
The accessibility of minimally invasive procedures by highly skilled cosmetic surgeons has helped increase the volume of operations. The aging population, the development of affordable aesthetic products, technical advancements, and the rising prevalence of aesthetic issues, including crow's feet and lateral canthal lines, are all factors in the worldwide expansion of the botulinum toxin market.
Report Segmentation
The market is primarily segmented based on type, application, end-use, and region.
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By Type |
By Application |
By End-use |
By Region |
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Type A segment accounted for the largest revenue share.
Due to benefits including low discomfort, no blood loss, and absence of scarring after the operation, the botulinum toxin type A segment was the main contributor to revenue in 2022 and is predicted to maintain this trend over the projection period. Additionally, the use of Botulinum toxin type-A to treat chronic migraine, tension-type headaches, and other main neurological illnesses has increased, contributing to the market's growth.
On the other hand, the botulinum toxin type B market is anticipated to grow at the fastest rate during the forecast period due to the expansion of the chronic sialorrhea therapeutic indication, the potential for product approval in merging regions, and the growth of research and development into other potential medicinal uses of Myobloc.
Therapeutic segment dominates the market.
The therapeutic category dominated the market. The most potent biological neurotoxic molecule is botulinum toxin, which shows significant promise for treating numerous illnesses. Due to more excellent knowledge of the many modes of action and molecular behavior of the botulinum toxin, the therapeutic advantages of this substance have been expanding. Botox operations are used for various medicinal and preventative therapies for illnesses like hyperhidrosis, persistent migraines, and overactive bladders.
A substantial CAGR is predicted for the aesthetics market. Botulinum toxin (BoNT), a neurotoxin produced by bacteria, is a staple of the cosmetology toolbox. More cosmetic procedures have been performed due to increased aesthetic consciousness and technological breakthroughs in developed and developing nations.
Specialty and Dermatology Clinics’ end-use segment accounts for the highest market share.
The specialty & dermatological clinics segment accounts for the highest market share. These clinics do a significant portion of these treatments. This is one of the key elements driving the segment's expansion. The sector is anticipated to expand as cosmetic issues, including frown lines, glabellar lines, and crow's feet, become more common.
However, substantial procedure volumes in hospitals and clinics for therapeutic and aesthetic purposes also expand the hospital segment. For instance, the American Society for Aesthetic Plastic Surgery estimated that 40.0% of the 6,271,488 botulinum toxin treatments carried out globally in 2019 were carried out in hospitals. Due to the need for more trained specialists in these settings, the other category is anticipated to expand more slowly.
North America dominated the global market in 2022
North America dominated the global industry in 2022. An increasing number of product releases, the presence of significant corporations, and the expanding use of these practices by locals influence the region's growth. For instance, the International Society of Aesthetic Plastic Surgery estimates that around 1,477,000 botulinum toxin operations were carried out in the United States in 2020. Increased product releases due to more regulatory approvals for these items' therapeutic uses are also helpful for the region's development.
Moreover, the increasing popularity of Botox treatments among people in critical European nations drives the demand of the market. One of the key drivers of expanding the European area is the increased spending on R&D projects to introduce new goods. For instance, the International Society of Aesthetic Plastic Surgery (ISAPS) anticipates that 397,512 nonsurgical cosmetic treatments, of which 100,296 were these procedures, will take place in Spain in 2020.
Competitive Insight
Some major players operating worldwide include Allergen Inc., Ipsen Group, Medy-Tox, Inc., US Worldmeds, Merz Pharma, Galderma, Evolus, Metabiologics Inc., and Lanzhou Institute of Biological Products.
Recent Developments
- In April 2022, Medytox Inc. said that its next-generation botulinum toxin (BTX), MBA-P01, has completed its Phase III study.
- In February 2022, HUGEL, Inc. declared that the Austrian Federal Office for Safety in Health Care had approved the company's Letybo product.
Botulinum Toxin Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 7.92 billion |
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Revenue forecast in 2032 |
USD 18.72 billion |
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CAGR |
11.3% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Type, By Application, By End-use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Allergen Inc., Ipsen Group, Medy-Tox, Inc., US Worldmeds, Merz Pharma, Galderma, Evolus, Metabiologics Inc., and Lanzhou Institute of Biological Products. |
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FAQ's
The botulinum toxin market covering key segments are type, application, end-use, and region.
Botulinum Toxin Market Size Worth $18.72 Billion By 2032 .
The global botulinum toxin market expected to grow at a CAGR of 11.3% during the forecast period.
North America is leading the global market.
Botulinum toxin market key driving factors are Rising Preference For Non-Invasive Or Minimally Invasive Procedures and Increasing Number Of Patients Having Neurological Disorders.
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