The Global Botulinum Toxin Market is Projected to Reach US$7.4 Billion by 2024

Rising Demand for Minimally Invasive Cosmetic Treatments and Expanding Therapeutic Indications Fuel Growth in the Botulinum Toxin Market, According to New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Botulinum Toxin market. The global Botulinum Toxin market is projected to reach US$7.4 billion by 2024, driven by the growing popularity of minimally invasive cosmetic treatments and the expanding range of therapeutic indications for botulinum toxin.

Botulinum toxin (BTX) is a neurotoxin produced by Clostridium Botulinum bacterium. BTX is capable of arresting release of acetylcholine, leading to muscle relaxation. Botulinum toxin is of two major commercial types, namely type A and type B, both of which have therapeutic properties and find use in personal hygiene, healthcare and cosmetic applications. While advancements in research and development of botulinum toxin have revolutionized medical and therapeutic uses over the years, the largest opportunity has emerged from the facial aesthetics space. The combination of scientific benefits and market-driven factors, such as rising consumer disposable incomes, increased per capita spending on appearance-enhancing products, growing social acceptance of aesthetic medical procedures, and easy product accessibility, have led to the increased use of botulinum toxin in aesthetic applications.

Driven by the growing demand in medical/therapeutic and cosmetic applications, the global market for botulinum toxin is forecast to grow at a stable pace in the coming years. The growing acceptance of facial injectables such as Botox for enhancing facial aesthetics among adults, and approval for using therapeutic BTX in the treatment of an expanded range of indications are fueling growth in the botulinum toxin market. The continuous focus on development and launch of novel products for enhancing aesthetic appeal and the growing demand for minimally invasive treatments in cosmetology as well as therapeutic applications are spurring market growth. Since minimally invasive procedures involve a small incision, faster wound healing, less post-surgery complications, and shorter duration of hospitalization, there is growing acceptance and demand for such treatments. BTX market is also significantly impacted by results of clinical evaluations of product benefits, with such clinical trials not only helping commercialize new products but also boosting physician and patient confidence in claimed product benefits, thus encouraging growth in the number of BTX-based treatment regimens.

As stated by the new market research report on Botulinum Toxin, the United States represents the largest market worldwide. The region is expected to continue leading the global market driven mainly by the growing approval for newer therapeutic indications. Further the increasing focus on improving physical appearance and the subsequent rise in demand for cosmetic procedures bode well for the botulinum toxin market. The presence of a large number of manufacturers of personal care and pharmaceutical products also contributes to the country’s dominance in the global BTX market. Asia-Pacific is forecast to register the fastest CAGR of 13.4% over the analysis period. Increasing commercial availability of botulinum toxin products and rising awareness about the role played by Botox in anti-wrinkle procedures in countries such as China and India are favoring market growth. The therapeutic BTX market in Asia-Pacific will be driven by the constant increase in national healthcare spending.

Major players in the market include Allergan Plc, Daewoong Pharmaceutical Co. Ltd., HUGEL Pharma, Ipsen Group, Medy-Tox Inc., Merz Pharma GmbH & Co. KGaA, Metabiologics Inc., Revance Therapeutics Inc., and US WorldMeds, among others.

The research report titled “Botulinum Toxin: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific and Rest of World. The report analyzes the Botulinum Toxin market by the Application – Cosmetic and Therapeutic.

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