Botulinum Toxin Market Information By Product (Botulinum Toxin A and Botulinum Toxin B), By Application (Medical and Aesthetic), By Gender (Female and Male), By Age Group (13-19, 20-29, 30-39, 40-54, and 55 & Above), By End User (Hospitals, Dermatology Clinics, and Spas & Cosmetic Centers), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030
The botulinum toxin market size is projected to reach USD 6.5 billion by 2030, at a CAGR of 11.80% from 2022 to 2030. The factor that drives the market of botulinum toxin is the rising demand for minimally invasive or non-invasive surgeries in cosmetology, along with the increasing applications in cosmetics surgeries and growing R&D initiatives. One of the most dangerous biological substances is the botulinum toxin. It is a neurotoxin created by the Clostridium botulinum bacterium. Botulinum toxin comes in seven different kinds, A–G. Human botulism is brought on by four of them (types A, B, E, and occasionally F). Both therapeutic and cosmetic procedures employ the use of botulinum toxin A and B. The rise in demand for facial aesthetics, the rising number of product launches, and the increasing number of product approvals by major players are all expected to propel the expansion of the worldwide botulinum toxin market during the course of the projected period.
Botulinum Toxin Market Segmentation:
Botulinum toxin types A and B are the categories into which the global market for these substances has been divided. The use of botulinum toxin in aesthetic operations is becoming more prevalent compared to the use of tissue fillers, and the number of products receiving regulatory authority approval is expected to rise during the projected period. According to the American Society of Plastic Surgeons’ 2018 Plastic Surgery Statistics Report, there were 2.67 million soft tissue filler operations performed in the US in 2018 compared to 7.43 million cosmetic minimally invasive treatments using botulinum toxin type A.
Therapeutic applications and aesthetic applications have been separated out into separate application segments in the global botulinum toxin market. A chronic migraine, spasticity, cervical dystonia, overactive bladder, blepharospasm, and other conditions have been further subdivided under the therapeutics heading.
The dermatological centres, hospitals & clinics, and other end-users’ segments make up the global market for botulinum toxin.
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Botulinum Toxin Market Regional Analysis
The regions of the Americas, Europe, Asia-Pacific, and the Middle East & Africa make up the global botulinum toxin market. The botulinum toxin market is projected to be dominated by the Americas. North America and Latin America make up the Americas. The US and Canada have been added as additional divisions of North America. The market growth in this region is anticipated to be fueled by an increase in product approvals, an increase in cases of spasticity, and the existence of significant manufacturers like US WorldMeds, LLC., Evolus, Inc., Hugel, Inc., and Revance Therapeutics, Inc.
Due to an increase in botulinum toxin operations and the existence of developed economies like Germany, the UK, and France, Europe experienced significant market growth. The market in this region is expanding as a result of the rising demand for minimally invasive cosmetic operations to improve the appearance and maintain youth.
The growing geriatric population, rising per capita disposable income, expanding healthcare infrastructure, medical tourism, booming entertainment industry, and increasing investments by major players in the regional market are all expected to contribute to Asia-position Pacific’s as the world market’s fastest-growing region.
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The Middle East and Africa’s botulinum toxin market is anticipated to expand as a result of growing consumer knowledge of the toxin, expanding healthcare infrastructure, and increased demand for goods from nations like Saudi Arabia and the United Arab Emirates.
Botulinum Toxin Market Key Players
Companies recognized as the key players in the Global Botulinum Toxin Market are Allergan PLC, Merz Pharma GmbH & Co KGaA, Galderma S.A., Daewoong Pharmaceutical Co., Ltd, Ipsen Pharma, US WorldMeds, LLC. (Solstice Neurosciences, LLC), Evolus, Inc., Hugel, Inc, Medytox, Revance Therapeutics, Inc., and others.
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