Global Therapeutic Botulinum Toxin Market to Grow Robustly Over the Next Ten Years, Supported by Approvals for New Indications

Growth Will Be Fastest in the Less Mature European and Japanese Markets, According to Findings from Decision Resources Group

Apr 03, 2014, 10:00 ET from Decision Resources

BURLINGTON, Mass., April 3, 2014 /PRNewswire/ -- Decision Resources Group finds that the therapeutic botulinum toxin (BTX) market will grow robustly over the next ten years in the United States, United Kingdom, France, Germany, Italy, Spain, and Japan.  Growth will be supported by approvals for new indications, rising physician acceptance due to increasing awareness of the safety and efficacy of BTX, as well as more favorable reimbursement. As a result, the market will grow at a compound annual growth rate of 11.5 percent through 2022.

Other key findings from the Medtech 360 report entitled Global Markets for Therapeutic Botulinum Toxin 2014:

  • U.S. is largest BTX market: The largest and most established market for therapeutic BTX is the US. BTX enjoys widespread adoption for a variety of conditions as a result of strong patient and physician awareness of the treatment, bolstered by a large number of approved indications and strong marketing efforts from manufacturers.
  • Awareness of BTX in Europe: The European market is less mature, with lower awareness of BTX as a therapeutic option. However, this will improve greatly over the forecast period with the approval of new indications in neurology and urology.
  • Adoption of BTX in Japan: Japan is a nascent therapeutic BTX market and will therefore exhibit the fastest growth through 2022. Adoption of BTX for therapeutic purposes has rapidly increased after approval for spasticity, and this will drive most of the procedure volumes and vial sales in the country, especially given that spasticity requires large doses per procedure.
  • Market Limiters: The main limiter of market growth will be the long and complex approval process for therapeutic BTX. Furthermore, some of the chronic illnesses that can be treated with BTX are often misdiagnosed or go undiagnosed, resulting in many cases left untreated. However, this is mostly observed in some of the slower-growing indications for BTX.

Comments from Decision Resources Group Manager April Lee:

  • "Allergan dominates the global therapeutic BTX market with its well-known BOTOX product, which has a tremendous commercial presence. The company has continued to expand on its approved indications, allowing it to capture the growth in the expanding global market."
  • "Although Allergan was the sole player in the market for many years, it now faces growing competitive pressure, particularly from Ipsen and Merz Pharma. This pressure is most evident in Europe; Allergan's extremely strong brand presence in the US has allowed it to retain a dominant market share. In Japan, Allergan operates through distributor GlaxoSmithKline, which also enjoyed a dominant position in 2013."

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SOURCE Decision Resources