Botulinum Toxin Market Size Worth $8.97Bn, Globally, by 2028 at 7.8% CAGR - Exclusive Report by The Insight Partners

NEW YORK, March 16, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Botulinum Toxin Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Botulinum toxin A and Botulinum toxin B), Application (Medical and Aesthetic), and End User (Speciality and Dermatology Clinics, Hospitals and Clinics, and Others)", the global botulinum toxin market is projected to reach $8.97 Bn by 2028 from $5.30 Bn in 2021. It is expected to grow at a CAGR of 7.8% from 2021 to 2028.

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Global botulinum toxin market: Competitive Landscape and Key Developments

AbbVie Inc.; Merz Pharma; Medytox; Sanofi; Ipsen Pharma; Galderma; Revance Therapeutics Inc.; Lanzhou Institute of Biological Products Co., Ltd.; Candela Medical; and Daewoong Pharmaceutical Co. Ltd. are among the key companies operating in the global botulinum toxin market. Leading players are adopting strategies, such as the launch of new products, expansion and diversification of their market presence, and acquisition of novel customer bases, to tap prevailing business opportunities.

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For instance, in 2019, government authorities in England launched a campaign about botched cosmetic procedures and their impact on a person's physical and mental health. Moreover, several manufacturers are working on offering more advanced non-invasive cosmetic treatment products.

On January 14th, 2014, Allergan, Inc. announced that BOTOX had received the Medicines and Healthcare products Regulatory Agency (MHRA) license for the temporary improvement in the crow's feet lines glabellar (or frown) lines in adult patients.

The growth of the botulinum toxin market is attributed to products and technological developments carried out by companies in the field of botulinum toxins in the country. Botox was first licensed for neuromuscular diseases via intramuscular injection in the European Union in 1994. The biologic and pharmacological features of botulinum toxin (BT) have been a subject of exciting research in medical sciences. It is amusing that it is the first biological toxin to make its way into disease biology, offering many new opportunities for healthcare firms. Next-generation sequencing technologies have helped advance the botulinum toxin (BT) sector.

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Among the different subtypes of botulinum toxin, subtype A for botulinum neurotoxin therapy has gained substantial attention among players due to its excellent safety and potential for use in injectable and oral forms.

By product type, the global botulinum toxin market is segmented into type A botulinum toxin and type B botulinum toxin. The type A botulinum toxin segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the botulinum toxin market is segmented into medical and aesthetics. In 2021, the medical segment held the largest share in the market. It is expected to register the highest CAGR from 2021 to 2028. The factor behind this growth is the rising need for the diagnosis of various medical conditions across the world.

By end users, the market is segmented into specialty and dermatology clinics, hospitals and clinics, and others. In 2021, the specialty and dermatology clinics segment led the market. It is expected to register the highest CAGR  from 2021 to 2028.

Popularity of Minimally Invasive Surgeries Fuel Market Growth:

A large percentage of the population, including people above 40 years, focuses on physical appearance and wishes to remain young-looking. Thus, women's growing emphasis on aesthetic features is likely to stimulate market expansion over the next few years, especially in developed countries. Also, botulinum toxin treats several age-related conditions, such as forehead lines, glabellar lines, crow's feet, and others. Hence, people above the age of 40 are prone to such signs of aging. Thus, botulinum toxin procedures are gaining more importance among the population aged between 40-54 years, thereby augmenting the market value. These are the key factors anticipated to propel the botulinum toxin market during the forecast period.

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Global Botulinum Toxin Market: Product Type Overview

Based on product type, the global botulinum toxin market is segmented into type A botulinum toxin and type B botulinum toxin. The type A botulinum toxin segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. Botulinum toxin type A is a purified form used to block the release of acetylcholine in the treatment of chronic sialorrhea, muscle spasticity, dystonia, and cosmetic applications. Depending on the preparation, botulinum toxin A is indicated for different diseases. Cosmetically, it treats fine lines and wrinkles on the face, particularly wrinkles on the upper face, including the forehead, side corners of the eyes, and glabellar lines.

Browse Adjoining Reports:

Botulinum Neurotoxins Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Botulinum toxin A, Botulinum toxin B); Application (Medical, Aesthetic); Gender (Female, Male); End- Use (Hospitals, Dermatology Clinics, Spas and cosmetic centers) and Geography

Botulinum Toxin Injection Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Botulinum toxin A, and Botulinum toxin B); Gender (Male, and Female); Application ( Medical, and Aesthetic); End User (Hospitals, Dermatology Clinics, and Spas and Cosmetic Centers), and Geography

Clostridium Botulinum Infection Treatment Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Antitoxin Therapy, Meticulous Airway Management, Mechanical Breathing Assistance); Application (Hospital, Clinic, Others)

Hyperhidrosis Treatment Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Treatment Type (Botulinum Toxin A, Iontophoresis, Surgical Treatments, Topical Treatments, Non-surgical Microwave Energy Destruction of Sweat Glands, Others); Hyperhidrosis Type (Axillary Hyperhidrosis, Palmar Hyperhidrosis, Plantar Hyperhidrosis, Others); End User (Hospitals, Ambulatory Surgical Centers, Others)

Facial Injectables Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Collagen, Hyaluronic Acid (HA), Botulinum Toxin Type A, Calcium Hydroxylapatite (CaHA), Polymer Fillers); Application (Aesthetics, Therapeutics) and Geography

Gastroparesis Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Gastroparesis Type (Idiopathic, Diabetic, Post-Surgical, and Others), Drug Class Type (Prokinetic Agents, Botulinum Toxin Injections, and Antiemetic Agents), and Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Others)

Facial Aesthetics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product Type (Botulinum Toxin and Dermal Fillers); End User (Aesthetic Clinics, Beauty Salon and Hospitals) and Geography

Smart Wearables in Healthcare Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Non-Absorbable and Absorbable), Material (Botulinum Toxin, Hyaluronic Acid, Collagen and Polymers & Particles), Application (Facial Line & Lift Correction, Lip Treatment, Sagging Skin and Others) and Geography

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