"Botulinum Toxin Market to Exhibit Profitable Growth during the Forecast Period"

The global botulinum toxin market is growing significantly, and is expected to grow at 7.2% by 2030. Worldwide growing cosmetic & surgical procedures, treatment with botulinum toxin A (BNT-A) for various therapeutic procedures along with growing population aged between 25 to 60 years and growing demand for minimally invasive procedures are the major factors driving the overall growth of the global botulinum toxin market. In addition, new technological progresses in Botox injections & drugs in treatment for glabellar lines removal, lower limb and upper limb spasticity, cervical dystonia and blepharospasm is generating major revenue from the developed markets. Furthermore, favorable private and public initiatives in the medical sector across various developing countries, product expansion, and increasing number of dermatology & beauty clinics with higher acceptance of branded botulinum products will further assist in the overall botulinum toxin market growth.

The BNT type A segment is leading the global market in 2021; numerous products of BNT type A products are commercially available in the domestic and international market, which include top leading brands such as Botox, Xeomin and Dysport. Increasing awareness and broad utilization of BNT type A & B in the treatment of cosmetic & therapeutic applications such as forehead lines, crow's feet, square jaw/masseter, frown lines/glabellar, cervical dystonia and others, is further going to spur revenue growth during the forecast period.

Increasing R&D efforts in the past decade are broadening the usage of Botox across various cosmetic indications. Allergan’s BNT received the U.S. FDA approval for the treatment of hyperhidrosis in 2004; later in 2009, it got officially approved for cervical dystonia; in 2010 for post-stroke upper limb spasticity and urinary incontinence, in 2011 for overactive bladder, and in 2017 U.S. FDA approved BNT for treatment of lower limb spasticity in adults. Technological developments in botulinum toxin, both in invasive and noninvasive treatment procedures are boosting the demand majorly in Asia Pacific and Europe.

"Botulinum Toxin Type A (BNT A) Segment is Expected to Register Higher Growth by 2030"

In the past decade, various studies and research have shown that the regular history of neurological disorders can be emphatically influenced by non-operative treatment, particularly Botox. Different types of treatment, for example, smoothing of facial wrinkles, chronic migraine, blepharospasm (uncontrollable blinking), severe underarm sweating, strabismus - misaligned eyes and overactive bladder by botulinum toxin will gain traction during the forecast period.

Increasing non-invasive aesthetic rejuvenation procedures are going to spur revenue growth in the global market. General factors contributing maximum revenue growth are, increasing preference for non-invasive procedures, minor incidences of complications after surgery, rising approval towards cosmetic surgeries such as facelifts and liposuction and increasing significance of medical aesthetics worldwide. However, few complications occur such as physiological disturbance, potential health risk, low awareness about botulinum toxins, skin color change, and post-surgery complications after a period of time may act as a restraint during the forecast period.

Other problems such as high cost of treatment, less adoption of branded products, usage of local products with high risk and less awareness regarding the cosmetic and therapeutic applications in few of the developing nations may act as a restraint during the forecast period.

"Cosmetics in the Application Segment Expected to Register Higher Growth"

The improvement of medications for the treatment of spasticity issues such as wrinkles, will expand the competitiveness in the international market among manufacturers. ALLERGAN, Merz Pharma and Ipsen are currently occupying maximum revenue share in the market. The demand for anti-ageing treatments is expected to drive the uptake of cosmetic procedures in the coming time. Additionally, there is an increase in demand for noninvasive solutions in cosmetology due to less possibility of complications post-surgery. Other external factors driving the cosmetics segment include growing awareness regarding physical appearance, new applications in cosmetics and aesthetics, FDA approval for new botulinum toxins, demand for branded products in the beauty and dermatology clinics in the developed and developing nations.

"The Hospitals & Clinics Segment Will Register Higher Growth"

Since 1967, botulinum toxin A is being utilized for clinical purposes, its efficacy and safety is well established globally. In 1980, botulinum toxin was first used for treatment of strabismus (misaligned eyes), by infusing toxin in intraocular muscles as a contrasting option to strabismus surgical procedure. Since then, there has been wide range for clinical and cosmetic utilization of botulinum toxin in the end user segment, while it was first officially approved by the U.S FDA in 1989 for treatment of strabismus, blepharospam and hemificial fit.

In 2021, according to the American Society of Plastic Surgeons, approximately US$ 16.4 billion was expended on cosmetic procedures in the U.S. Also, in 2017, more than 7 million botulinum injections were utilized in the U.S. for overall cosmetic procedures. Growing number of aesthetic and cosmetic procedures in hospitals, dermatology clinics and beauty centers with botulinum toxin along with increasing approved applications for BNT type A and B is expected to drive the overall growth of botulinum toxin market during the forecast period. In 2014, Allergan Inc. received approval for BOTOX from Medicines and Healthcare Products Regulatory Agency (MHRA) in U.K. In 2016, Ipsen S.A. received the U.S. FDA approval for its Dysport (abobotulinumtoxinA) injection indicated for the treatment of pediatric lower limb spasticity in children of age two years and older. In June 2017, the U.S. FDA approved the same botulinum toxin for treatment of lower limb spasticity in adults. As indicated by the WHO, usage of commercially available Botox are high and there is an upsurge in the cosmetic procedures worldwide in the past decade in the end user segment.

"Increasing Prevalence of Scoliosis Along with Minimally Invasive Procedures and the Presence of Established Players Holds North America in Dominant Position"

North America spearheaded the market in 2021 owing to the presence of established players along with increasing cosmetic and therapeutic procedures in the U.S.. For instance, in 2016, as indicated by a report published by the American Society of Plastic Surgeons, around 7 million noninvasive cosmetic procedures were performed with Botulinum Type A (Botox, Xeomin and Dysport), there was an expansion of 4% in techniques as compared with 2015. Expanding number of treatment techniques with botulinum toxin alongside rising approvals from the U.S. FDA is relied upon to drive development of the worldwide botulinum toxin market. Rising trend of cosmetic procedures in the U.S. is also gaining momentum in the North America market on the global front.

Moreover, Asia Pacific will indicate fast development in the global botulinum toxin market, attributable to expanding R&D and approval of novel BNT products in China. For example, in January 2018, Daewoong Pharmaceutical Co. Ltd., a Korean organization, got approval from the Chinese experts to conduct clinical trials for botulinum toxin Nabota in China. Additionally, high adoption of BNT in cosmetics, increase in acceptance of international brands in developing nations, technology assessment with approvals for BNT, growing demand for non-invasive therapies & procedures, along with high awareness of new product applications is expected to drive the market for botulinum toxin during the forecast period.

"Dominance of Established Multinational Players with Strong Product Portfolio Makes Market Penetration Difficult for Emerging Players"

Major players in the botulinum toxin market are Allergan plc, Merz Pharma GmbH & Co. KGaA, Daewoong Pharmaceutical Co., Ltd, HUGEL, Inc., Hugh Source (International) Ltd, Medytox, Inc., US Worldmeds,LLC, Ipsen Group, Revance Therapeutics, Inc. and others. These manufacturers are implementing growth strategies such as partnerships with drugs and medical technology companies along with new technology assessment and swift FDA approvals for new therapeutic and cosmetic treatment. Mergers & acquisitions can be seen by top firms to increase economic benefits in few regions. For instance, in 2017, Allergan received the U.S. FDA approval for BOTOX Cosmetic (OnabotulinumtoxinA) for novel indication in reducing forehead lines. Formerly, the same product had been approved for the management of glabellar lines and crow's feet. In June 2017, the U.S FDA also approved botulinum toxin for treatment of lower limb spasticity in adults.

The report also comprehends qualitative market assessment factors such as market trends, key market drivers, restraints, and opportunities that give a better market understanding of the overall botulinum toxin market. Furthermore, the report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Botulinum Toxin market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Botulinum Toxin market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Botulinum Toxin market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Botulinum Toxin market?
• Which is the largest regional market for Botulinum Toxin market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Botulinum Toxin market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Botulinum Toxin market worldwide?