Botulinum Toxin Market Overview:
The global botulinum toxin market is slated to reach a CAGR of 10.3% during the forecast period of 2019 to 2025. Its global valuation would surpass USD 9442.93 million by 2025. Botulinum toxin can be discussed as a neurotoxic protein that is produced by the bacterium Clostridium botulinum and other related species. It holds the release of the neurotransmitter acetylcholine that comes out of the axon endings and can cause flaccid paralysis. Market Research Future (MRFR) discussed a lot of factors in the report that would ensure growth for the market. These factors are hike in demand for facial aesthetics, growing inclusion of the product in other medical treatments like overactive bladder, cervical dystonia, chronic migraine, spasticity, blepharospasm, and others.
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In recent times, the global botulinum toxin market is expected to gain substantially from the treatment of lower limb spasticity that has not been caused by cerebral palsy. This has been approved by the FDA. Such changes in the market would help proper growth. Ipsen Pharma received the FDA approval for this treatment.
However, it has side-effects, which can deter patients from using botulinum toxins.
Botulinum Toxin Market Segmentation:
The segmentation of the botulinum toxin market has been done on the basis of type, application, and end user. Insights fetched from such a detailed understanding can assist the market players in designing a proper strategy for the coming years.
By type, the global botulinum toxin market can be segmented into type A and type B. The type A segment covers almost 96.29% of the global market share.
By application, the global botulinum toxin market includes therapeutic and aesthetic. The therapeutic segment includes cervical dystonia, overactive bladder, blepharospasm, chronic migraine, spasticity, and others.
By end user, the botulinum toxin market report includes Hospitals & Clinics, Dermatology Centers, and others. The hospitals & clinics segment would get an upper hand in the management of the market.
Botulinum Toxin Market Regional Analysis:
The regional market of botulinum toxin would be backed by the ample contributions made in research and development, and hike in sales-related activities in the North American region. In North America, countries like Canada and the US are going to reap the benefits of a better healthcare structure that allows easy percolation of the botulinum toxin market across several treatments. In Europe, the situation would be the same as several countries would ensure the easy inclusion of the latest technologies so that the market gets maximum exposure. People from both these regions are also using the substance for aesthetic purposes and their financial background is supporting the progress.
In the Asia Pacific region, growth is taking place in countries like India, China, Japan, and others. These countries are developing several means of treatment with botulinum toxin as a part. Also, the hike in disposable income is expected to make sure that the market gets better backing.
The global market for botulinum toxin market is expecting strong backing up from various companies like Merz Pharma GmbH & Co KGaA, Allergan PLC, Daewoong Pharmaceutical Co., Ltd, Galderma S.A., US WorldMeds, LLC. (Solstice Neurosciences, LLC), Ipsen Pharma, Hugel, Inc, Medytox, Evolus, Inc., Revance Therapeutics, Inc., and others.
In February 2020, Medytox revealed that it has got indications from the Ministry of Food and Drug Safety to start the use of botulinum toxin, Meditoxin, for cervical dystonia treatment.
In February 2020, Allergan announced that their sale of Botox (onabotulinumtoxinA) therapeutic increased 6.7% to reach $566m. This is primarily due to its growing use in treating pediatric spasticity.
Table Of Contents
1 EXECUTIVE SUMMARY
1.1 OVERVIEW 16
1.1.1 MARKET SYPNOSIS 16
2 MARKET INTRODUCTION
2.1 SCOPE OF THE STUDY 17
2.2 RESEARCH OBJECTIVE 17
2.3 LIST OF ASSUMPTIONS 17
3 RESEARCH METHODOLOGY
3.1 OVERVIEW 19
3.2 DATA MINING 19
3.3 SECONDARY RESEARCH 20
3.4 PRIMARY RESEARCH 21
3.4.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS 22
3.5 BREAKDOWN OF PRIMARY RESPONDENTS 23
3.6 FORECASTING METHODS 24
3.7 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 25
3.7.1 BOTTOM-UP APPROACH 26
3.7.2 TOP-DOWN APPROACH 26
3.8 DATA TRIANGULATION 27
3.9 VALIDATION 27
4 MARKET DYNAMICS
4.1 OVERVIEW 28
4.2 DRIVERS 29
4.2.1 RISING CASES OF SPASTICITY, CERVICAL DYSTONIA, AND CHRONIC MIGRAINE 29
4.2.2 GROWING DEMAND FOR FACIAL AESTHETICS 29
4.2.3 INCREASING PRODUCT LAUNCHES AND APPROVALS 30
4.3 RESTRAINTS 31
4.3.1 ADVERSE EFFECTS ASSOCIATED WITH BOTULINUM TOXIN 31
4.3.2 POOR REIMBURSEMENT POLICIES 32
4.4 OPPORTUNITIES 33
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