Overview and Scope
Botulinum toxin, commonly known as Botox, refers to the neurotoxic protein produced by the bacterium Clostridium botulinum, one of the most potent toxins known to humans. Botulinum toxin is used for various medical and cosmetic purposes, including treating muscle spasms, reducing wrinkles, managing excessive sweating, and addressing certain eye and bladder disorders.
Sizing and Forecast
The botulinum toxin market size has grown rapidly in recent years. It will grow from $6.72 billion in 2023 to $7.4 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to cosmetic applications, medical therapies, growth in aesthetic medicine, increased awareness and acceptance, research and development initiatives..
The botulinum toxin market size is expected to see strong growth in the next few years. It will grow to $10.53 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to expanding aesthetic medicine market, advancements in formulations and delivery, diversification of therapeutic uses, global aging population, rising demand in emerging markets, growing patient awareness and acceptance, global market expansion. Major trends in the forecast period include strategic collaborations, personalized and precision medicine approaches, regulatory approvals for new indications, product innovations.
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Segmentation & Regional Insights
The botulinum toxin market covered in this report is segmented –
1) By Type: Botulinum Toxin Type A, Botulinum Toxin Type B
2) By Application: Therapeutics, Aesthetics
3) By End User: Hospitals, Specialty Clinics, Dermatology Clinics, Other End Users
North America was the largest region in the botulinum toxin market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the botulinum toxin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for aesthetic procedures is expected to propel the growth of the botulinum toxin market going forward. Aesthetic procedures refer to a range of cosmetic treatments and interventions that are performed to enhance or improve a person’s appearance and can be surgical or non-surgical. Botulinum toxin is used in aesthetic procedures to relax specific muscles and reduce the appearance of wrinkles and fine lines. For Instance, in 2021, According to the statistical report Aesthetic Plastic Surgery published by The American Society for Aesthetic Plastic Surgery, a US-based organization for the advancement of cosmetic surgery, in 2020, the average plastic surgeon performed 220 surgical procedures, however, in 2021, the average number of surgical procedures performed by plastic surgeons increased to 320, indicating a notable rise in surgical activity within the field. Therefore, the increasing demand for aesthetic procedures is driving the growth of the botulinum toxin market.
Key Industry Players
Major companies operating in the botulinum toxin market report are Cigna Group, Pfizer Inc., AbbVie Inc., Teijin Pharma Ltd., Eisai Co. Ltd., Menarinin Group, Ipsen Group, Galderma S.A., Daewoong Pharmaceuticals Co. Ltd., Supernus Pharmaceuticals Inc., Merz Pharma GmbH & Co. KGaA, Hugel Inc., Evolus Inc., Medytox Inc., Revance Therapeutics Inc., Sinclair Pharma, US WorldMeds LLC, Hugh Source International Ltd., MedivaPharma, Wigmore Medical, AesthetiCare, Lanzhou Institute of Biological Products Co Ltd., AestheticSource, Botox Cosmetic, Metabiologics Inc.
The botulinum toxin market report table of contents includes:
1. Executive Summary
2. Botulinum Toxin Market Characteristics
3. Botulinum Toxin Market Trends And Strategies
4. Botulinum Toxin Market – Macro Economic Scenario
5. Global Botulinum Toxin Market Size and Growth
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32. Global Botulinum Toxin Market Competitive Benchmarking
33. Global Botulinum Toxin Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Botulinum Toxin Market
35. Botulinum Toxin Market Future Outlook and Potential Analysis
36. Appendix
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