LONDON, March. 2, 2017 /PRNewswire/ -- The global botulinum toxin (BNT) market is expected to reach a value of USD 7.3 billion by 2025. The constant introduction of innovative products for enhancement of aesthetic appeal supporting minimally invasive aesthetic treatments is the prime factor driving the growth of the market.
In addition, rapid growth of the sector is attributed to the rising demand for minimally invasive or non-invasive procedures. These procedures provide advantages such as small incision, shorter hospital stay and rapid wound healing, and hence lead to larger acceptance and demand. In addition, availability of wide variety of minimally invasive or non-invasive treatment options is pushing the global botulinum toxin market towards growth.
Also, the successful completion of research projects is expected to expand the applications of presently approved products. Companies are trying to widen the application of botulinum toxin in therapeutic area through various research activities. For instance, Botox by Allergan received the U.S. FDA approval for the treatment of strabismus (crossed eyes) and blepharospasm associated with dystonia in 1989. Furthermore, in 2004, Botox was approved by the U.S. FDA for hyperidrosis, cervical dystonia, upper limb spasticity, chronic migraine and urinary incontinence in 2009, 2010 and 2011 respectively. Hence, these factors all together will aid in boosting the growth of BNT sales during the forecast period.
Further Key Findings from the Study Suggest:
The rapid adoption of minimally invasive treatment is augmenting the growth of neurotoxins market.
The botulinum toxin type A segment accounted for the largest share in 2015 and is also anticipated to be the fastest growing segment during the forecast period
In 2015, North America dominated the global space with the largest revenue share owing to high demand for minimally invasive or non-invasive aesthetic treatments
Asia Pacific is expected to emerge as the fastest growing region during the forecast period, mainly due to growing social awareness regarding anti-wrinkle procedures in India, China, and Japan
Major players competing in this market include but are not limited to:
Allergan, Inc.; Ipsen Group; Merz GmbH and Co. KGaA, Medytox,Inc.; US Worldmed, LLC; Lanzhou Institute of Biological Products. Co.Ltd. and Revance Therapeutics, Inc.
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