DUBLIN--(BUSINESS WIRE)--The "Botulinum Toxin - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Botulinum Toxin Market to Reach $7.9 Billion by 2026
Global market for Botulinum Toxin estimated at US$4.9 Billion in the year 2020, is projected to reach a revised size of US$7.9 Billion by 2026, growing at a CAGR of 8.2% over the analysis period.
Growth in the global market is driven by growing demand in medical/therapeutic and cosmetic applications. The growing acceptance of facial injectables such as BTX to facial aesthetics among adults and approval for using therapeutic BTX in the treatment of an expanded range of indications is expected to spur market expansion.
The constant 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 boosting demand in the market. In the field of neuromuscular therapeutics, the use of botulinum toxin is driven by rising incidences of movement related disorders and growing number of patients with muscle spasms.
Further, new clinical indications of botulinum toxin such as in the treatment of nystagmus, stridor, palatal myoclonus, scoliosis, co-spasms following brachial plexus lesions (birth related), and gait freezing (Parkinson), have helped further strengthen growth in this space.
Type A, one of the segments analyzed in the report, is projected to record 8.2% CAGR and reach US$8.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Type B segment is readjusted to a revised 6.9% CAGR for the next 7-year period.
Botulinum toxin type A finds use in the treatment of movement disorders, vocal cord dysfunction and obesity, and is also used as a medical aid in gastric cancer. Growth in the botulinum toxin type A will be driven by its increasing use in the treatment of muscle spasms in cerebral palsy as well as neurogenic bladder diseases occurring in children.
Type B is used for various muscle related conditions. Botulinum neurotoxin type B was approved by the FDA in 2000 for treatment of for the treatment of adults with cervical dystonia to reduce the severity of abnormal head position and neck pain linked with cervical dystonia.
The U.S. Market is Estimated at $3.1 Billion in 2021, While China is Forecast to Reach $665 Million by 2026
The Botulinum Toxin market in the U.S. is estimated at US$3.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$665 Million by the year 2026 trailing a CAGR of 14.8% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1% and 6.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.1% CAGR. The United States represents the largest regional market, driven mainly by the growing approval for newer therapeutic indications.
Further the increasing focus on improving physical appearance, rising disposable incomes of people, and the subsequent rise in demand for cosmetic procedures is also fueling growth. Rising demand for non-invasive or minimally invasive aesthetic treatments is also contributing to the growth of Botox market in the US.
Europe also offers attractive opportunities for the botox market owing to the presence of a large number of cosmetic product manufacturers. Rapidly improving socio-economic conditions and proliferation of medical tourism, particularly in Asian countries, presents favorable prospects for botulinum toxin in Asia-Pacific region.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- COVID-19 Disruptions Impact Botulinum Toxin Business
- Virtual Care to the Fore amid COVID-19
- COVID-19 Disruptions Highlight Significance of Botulinum Toxin Therapy for Associated Medical Conditions
- Researchers Eye on Botulinum Toxin as Potential Therapeutic Option to Alleviate and Manage COVID-19 Infection
- Botulinum Toxin - Global Key Competitors Percentage Market Share in 2022 (E)
- Therapeutic BTX Applications Lead
- Cosmetic BTX Gradually Gains Momentum
- Factors Propelling the Cosmetic BT Market: In a Nut Shell
- Developed Regions Dominate Botulinum Toxin Market
- Developing Markets to Drive Future Growth
- Competitive Landscape
- Intense Competition Characterizes Botulinum Toxin Market
- Select Approved Botulinum Toxin Products Worldwide
- Companies Entering the Fray
- Pharma Companies Eye Lucrative BT Market
- Biosimilar BTX Variants Challenge Botox's Leadership
- Lack of Differentiation among Approved BTX Products
- Comparison of Leading Neurotoxins - Botox, Dysport and Xeomin by Safety and Efficacy
- Comparison of Botox, Dysport and Xeomin by Indications and Year of Approval
- Approvals and Indications of Botox in Select Regions
- Botox Therapeutic Approvals in the US by Indication
- Ipsen Counts on New Indications for Future Growth of Dysport
- Other Products
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 28 Featured)
- Daewoong Pharmaceutical Co., Ltd.
- HUGEL Pharma
- Ipsen Group
- Medy-Tox Inc.
- Merz Pharma GmbH & Co. KGaA
- Metabiologics, Inc.
- Revance Therapeutics, Inc.
- US WorldMeds
3. MARKET TRENDS & DRIVERS
- Rising Demand for Non-Invasive Cosmetic Treatments Bodes Well for BTX Market
- Botulinum Toxin: The Preferred Solution in Facial Injectables Market
- Millennials: A Popular Demographic for Botulinum Toxin
- Therapeutic Areas and Opportunities
- Botox Therapeutic Applications Uses and Indications
- Botulinum Toxin Remains Gold Standard for Treatment of Focal Spasticity
- Rise in the Number of Musculoskeletal Indications: Potential for Growth
- Unmet Medical Needs Encourage Off-Label Use: A Cause for Concern or Jubilation?
- Combination Therapies: A Double Whammy Success
- Botulinum Toxin: Potential Applications in Treatment of Dental Diseases
- Potential Applications in Dentistry
- Short-lived Aesthetic Effects: A Strong Business Case for Revision Treatments
- Novel Injection Systems for Highly Precise Dosage of Botulinum Toxin
- Longer Life Expectancy and Rising Disposable Incomes Propel Sales of Cosmetic BTX
- Increase in Healthcare Spending Stirs Demand for BTX in Therapeutic Applications
- Challenges and Issues
- Undesirable Side Effects: A Challenge to Reckon With
- Immunogenicity Undermines Patient Compliance
- Antigenicity: A Problematic Issue in Drug Development
- Potential Adverse Side Effects: A Major Barrier to Success
- Stringent Regulations Delay Market Approvals
- Higher Product Costs to Challenge Market Growth
- Consumer Skepticism: The Biggest Challenge to Beat
- Animal Cruelty: A Part & Parcel of Botox Testing
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
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