New York, November 07, 2021 – The global Botox market is expected to reach USD 5.2 Billion in 2028 and is expected to register a steady revenue CAGR of 5.7% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are increasing focus on aesthetic and physical appearance among men and women, rising disposable income, and rapid advancements in cosmetic surgeries.
Botox is a drug obtained from botulinum toxin, produced by clostridium botulism, and has widespread usage in the medical and cosmetics industry. It is a neurotoxin that works by temporarily paralyzing certain cells. The effect on Botox treatment lasts for 3-12 months depending upon the area under treatment. It is primarily used for reducing facial wrinkles and enhance overall appearance and is also used for treating various medical conditions such as chronic migraines, cervical dystonia, strabismus, hyperhidrosis, overactive bladder, eye muscle problems. Factors such as increasing aging population, high focus on improving skin appearance and rising demand for soft, glowing complexion are surging demand for the treatment. Revenue growth of the global market is attributed to factors such as increasing affordability, improving global healthcare infrastructure, increasing therapeutic applications of Botox for various diseases, and increasing investments to develop enhanced products.
Increasing demand for cosmetic surgeries, high preference for minimally invasive techniques, and increasing investments in research and development projects globally are key factors fueling market growth
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However, factors such as high cost of the procedures, adverse effects of the treatments, unavailability of favorable reimbursement policies, and dearth of skilled professionals and modern healthcare infrastructure in some developing countries are factors that could hamper market revenue growth in the coming years.
Some key highlights of the report:
- Among the product segments, the botulinum toxin A segment is expected to account for largest revenue share over the forecast period owing to high demand for botulinum toxin A for medical and aesthetic applications, rising prevalence of chronic illnesses, increasing focus on maintaining healthy and rejuvenated skin, and high efficiency of the product.
- Based on application, the medical segment is expected to register rapid revenue growth over the forecast period. Factors such as rising prevalence of chronic, neurological diseases, and increasing awareness about the treatment for various medical conditions are factors fueling revenue growth of the segment.
- Based on gender, the male segment is expected to register steady revenue growth over the forecast period. Increasing consciousness about aging and overall appearance among men, rising patient pool, and aging male population, and high demand for Botox treatment to improve cosmetic imperfections and health conditions such as extensive sweating, lazy eyes are factors driving demand for the treatment among males.
- Based on end use, the spas and cosmetic centers segment is expected to register rapid revenue CAGR over the forecast period owing to increasing focus on aesthetic appearance, high adoption of modern beauty enhancing techniques, and high demand for the treatment to reduce facial wrinkles, improve hair growth and skin rejuvenation among men and women.
- North America is expected to account for largest revenue share between 2021 and 2028 owing to factors such as high popularity of cosmetic surgeries and Botox treatment, increasing prevalence of dystonia, spasticity, abnormal sweating, drooling or twitching of face muscles, availability of advanced treatments, and rising demand for minimally invasive procedures. In addition, increasing product approvals, economically stable population, increasing investments for developing more enhanced products are other factors supporting market growth in North America.
- Asia Pacific market is expected to register fastest revenue CAGR over the forecast period owing to factors such as improving healthcare expenditure, growing emphasis on personal care, and improving standards of living. Moreover, increasing awareness about the treatment, large population undergoing Botox surgeries, and increasing investments in R&D projects are fueling Asia Pacific Botox market growth.
- Allergan, Merz Pharma, Medytox, Lanzhou Institute of Biological Products Co. Ltd., Hugel, Inc., Revance Therapeutics Inc., WorldMeds, LLC, Ipsen Group, Eisai Co., Ltd, Evolus, Inc. Pfizer Inc., AbbVie, Solta Medical, Syneron Candela, Galderma, and Lumenis are some of the key companies operating in the global market.
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For the purpose of this report, Reports and Data has segmented the global Botox market based on product, application, gender, end use, and region:
Product Outlook (Revenue, USD Billion, 2018-2028)
- Botulinum Toxin A
- Botulinum Toxin B
Application Outlook (Revenue, USD Billion, 2018-2028)
Gender Outlook (Revenue, USD Billion, 2018-2028)
End Use Outlook (Revenue, USD Billion, 2018-2028)
- Dermatology Clinics
- Spas and Cosmetic Centers
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Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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