The global botulinum toxins market will witness considerable growth in the coming years due to the inflating demand for botulinum toxinns across the world. According to a report published by Fortune Business Insights, titled “Botulinum Toxin Market: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 6.27 billion in 2022. Fortune Business Insights states that the market will reach 8.59 billion by 2029, exhibiting a CAGR of 4.6%.
Botulinum toxins are widely used for improving aesthetic appearances. The effectiveness of botulinum toxins in aesthetic applications such as treatment of moderate to severe glabellar lines have significantly contributed to the global botulinum toxin market growth. Anticipated regulatory approvals in therapeutic applications have led to significant botulinum toxins market growth. The increasing research and development initiatives aimed at the betterment of existing treatment methods, in addition to new methods, will favor growth of the market in the coming years. The high effectiveness of botulinum toxins in therapeutic applications have significantly contributed to the botulinum toxin market growth. The growing awareness regarding side effects of botulinum toxins in developed as well as developing nations have will create several growth opportunities. Botulinum toxin is widely used for treating facial wrinkles and improving facial structures. The adoption of botulinum toxin is high in the United States, and this will favor the growth of the botulinum toxins market in North America.
Increasing Product Launches Will Account for Substantial Growth
The high demand for botulinum toxin has led to several product innovations. Resulting from the high demand, there has been a subsequent rise in the number of product launches worldwide. Fortune Business Insights predicts that increasing product launches will constitute an increase in the overall botulinum toxins market value. With several market operators currently operating in the botulinum toxins industry, the market is set to surpass US$ 8000 Mn global value by 2026. In January 2019, Huons Global announced the launch of a new botulinum toxin product in Korea. The Liztox was designed specifically to treat forehead wrinkles. The company’s plans to extend its sales internationally will favor the global botulinum toxin market in the coming years. Additionally, the company completed several clinical trials for the product and gained approval from the Ministry of Food and Drug Safety in the same year. The report encompasses product launches, similar to Huons’ latest botulinum toxin product and signifies the importance of these products on the global botulinum toxin market.
Major Leading Players Mentioned in Botulinum Toxin Market:
- Ipsen Pharma
- Merz Pharma
- US WorldMeds, LLC (Solstice Neurosciences, LLC)
- Galderma laboratories
- Lanzhou Institute of Biological Products Co., Ltd.
- Revance Therapeutics, Inc.
Escalating Demand for Botulinum Toxin Procedures to Create Attractive Growth Opportunities
The rising demand for improved aesthetic appearance has created a subsequent demand for botulinum toxin procedures around the world. Fortune Business Insights has identified increasing demand as one of the primary factors that are contributing to the growth of the global market. As far as therapeutics are concerned, the botulinum toxin holds massive potential with more than 100 approved botulinum toxin associated therapeutics existing in the market. Besides currently approved methods, there a host of therapeutic procedures that have lined up for clinical trials. The aforementioned factors will favor growth of the global botulinum toxins market in the forthcoming years.
Fortune Business Insights profiles some of the leading botulinum toxins market companies. a few of the leading companies that have established a strong market brand include ALLERGAN, Ipsen Pharma, Merz Pharma, Medytox, US WorldMeds, LLC (Solstice Neurosciences, LLC), Galderma laboratories, Lanzhou Institute of Biological Products Co., Ltd., and Revance Therapeutics, Inc.
Global Botulinum Toxin Market Segmentation
- Chronic Migraine
- Overactive Bladder
- Cervical Dystonia
By End User
- Specialty and Dermatology Clinics
- Hospitals and Clinics
- Botulinum Toxin Type A
- Botulinum Toxin Type B
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245