The global Botulinum Toxin Market size is expected to value at USD 7.3 billion by 2025. The market is subject to witness a substantial growth due to the ever-growing population and rising number of minimally invasive or non-invasive procedures performed each year. Botulinum toxin is commonly used as a neurotoxin, which is typically found in various antigenic forms namely BNT-A, BNT-B, BTT-C, BNT-D, BNT-E, BNT-F and BNT-G.
These antigenic forms are produced with the help of an anaerobic bacterium, Clostridium botulinum. Common application of the botulinum toxin is the aesthetic therapy. Hence, these factors are expected to play vital for sustained market growth in the upcoming years. Globally, the botulinum toxin industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market of botulinum toxin.
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However, use of botulinum toxin has severe side effects such as allergic reactions, rashes, neck and back pain, thus liming market growth to a certain extent. Unauthorized use of botulinum toxin can also lead to difficulty during swallowing food, shortness of breath and nausea thereby further restraining market advancement. Furthermore, higher cost of these expensive procedures coupled with minimum availability of the products like Myobloc by Solstice are expected to negatively affect overall market performance. Yet, increasing adoption of neurotoxins in therapeutics as well as cosmetic application are expected to fuel market demand for botulinum toxin over the next seven years.
Botulinum toxin is gaining a wide popularity in cosmetic as well as aesthetic applications due to properties such as anti-aging and facial therapy. Rise in the number of application of botulinum toxin involving treatment of frown lines, crow’s feet lines, and glabellar lines are anticipated to boost market growth over the forecast period. The aesthetic segment has largest share in the botulinum toxin market in the last few years. Additionally, increasing approval rate by regional and international authorities are predicted to drive market demand over the next seven years.
For instance, FDA has approved use of botulinum toxin for the treatment of hyperhidrosis, cervical dystonia, post-stroke upper limb spasticity, and urinary incontinence & overactive bladder. Rise in the number of research & development activities coupled with favorable government laws & regulation are expected to offer lucrative growth opportunities for market players in the near future. Botox injections involving botulinum toxin weaken and completely paralyzes muscles and blocks certain nerves, which is influential during complex treatments. The effect of botulinum toxin commonly lasts about three to twelve months depending on the type of treatment.
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The botulinum toxin industry is broadly categorized into two major segments based on the application type such as therapeutics and aesthetic. The aesthetic industry is considered as one of the faster growing segment in the botulinum toxin market with substantial revenue generation in the last few years. Growing popularity of the botulinum toxin in the segment attributes to the numerous application such as improving the facial appearance and reduction in signs of aging. The therapeutics segment has also witnessed substantial growth owing to the increasing approval rate across the globe for the use of botulinum toxin.
The botulinum toxin industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the healthcare sector, higher disposable income, availability of a variety of aesthetic procedures for enhancing external appearance and existence of well-established infrastructure.
Asia-Pacific region is predicted to hold major market share in the botulinum toxin market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing healthcare expenditure, rising awareness among consumers, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the botulinum toxin industry are Allergan, Inc., Ipsen Group AG, Merz Pharma GmbH & Co., KGaA, Medytox Inc., US Worldmed, LLC, Lanzhou Institute of Biological Products Co., Ltd., and Revance Therapeutics, Inc.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/pharmaceuticals
Product Type Outlook (Revenue, USD Million; 2013 – 2025)
• Botulinum Toxin Type A
• Botulinum Toxin Type B
End Use Outlook (Revenue, USD Million; 2013 – 2025)
Regional Outlook (Revenue, USD Million; 2013 – 2025)
• North America
• Asia Pacific
• Latin America
• South Africa
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