Botulinum Toxin Market
Number of pages: 100 | Report Format: PDF | Published date: February 03, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market Size Value in 2021 |
US$ 6.12 billion |
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Revenue Forecast in 2030 |
US$ 9.31 billion |
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CAGR |
4.78% |
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Base Year for Estimation |
2021 |
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Forecast Period |
2022-2030 |
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Historical Year |
2020 |
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Segments Covered |
Product Type, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global botulinum toxin market was valued at US$ 6.12 billion in 2021 and is expected to register a revenue CAGR of 4.78% to reach US$ 9.31 billion by 2030.
Botulinum Toxin Market Fundamentals
Botulinum toxin is generated by clostridium botulinum, a gram-positive anaerobic bacterium. These are among the most lethal natural materials and interfere with nerve activity and can cause respiratory and muscle paralysis. Botulinum toxin is the most popularly known under the brand name Botox. The usage of botulinum toxin in cosmetology has enabled effective antiaging treatment and better aesthetic outcomes through non-invasive procedures. Botulinum toxin procedures involve the injection of small amounts of toxin into targeted muscles or facial areas. This helps reduce muscle activity and soften wrinkles. The procedure takes only a few minutes and can provide long-lasting results with no downtime or recovery time required. Similarly, botulinum toxin is helpful in treating patients suffering from chronic pain or other medical conditions and managing proper quality of life. Additionally, botulinum toxin is used in treating other conditions, such as chronic migraines, muscle spasms in the neck, shoulders, bladder and bowel disorders, and excessive sweating.
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Botulinum Toxin Market Dynamics
The global botulinum toxin market is being driven by rising research and development efforts to extend the therapeutic uses of botulinum toxin, increasing patient preference for minimally invasive or non-invasive therapies and aesthetic procedures, and growing focus of people on improving facial aesthetics. Increased healthcare spending indicates that more people are willing to have cosmetic procedures. As a result, the number of preventive treatments for wrinkles and glabellar lines that require Botox is expected to increase in the coming years. Additionally, growing therapeutic usage of botulinum toxin in treatments, such as dystonia, and migraine, is also likely to contribute to the botulinum toxin market revenue growth during the forecast period. Also, social media has a significant impact on consumers’ mental health, motivating them to undertake aesthetic procedures as soon as possible, in order to minimize the emergence of age-related skin disorders. This trend over the years is expected to continue to drive the demand for skin care products based on fillers and botulinum toxin.
Despite many positive factors supporting the revenue growth of the botulinum toxin market, the introduction of alternatives in the market can limit the market revenue growth to some extent. For instance, Daxxify manufactured by Revance Therapeutics was approved by FDA in 2022, was a new Botox alternative. Furthermore, in low-income nations, there is less awareness about and limited affordability for botulinum toxin treatment, restraining the market revenue growth in certain cost-sensitive areas.
Botulinum Toxin Market Ecosystem
The global botulinum toxin market has been analyzed from three perspectives: product type, application, and region.
Botulinum Toxin Market by Product Type
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Based on product type, the global botulinum toxin market is segmented into type A and type B botulinum toxin.
The type A botulinum segment is further sub-segmented into Botox, Dysport, Xeomin, and others, wherein the Botox sub-segment occupies the largest revenue share in the botulinum toxin market. Botulinum neurotoxin type A (BoNT - A) is most commonly used for cosmetic purposes, particularly to treat facial fine lines and wrinkles. Moreover, type A botulinum toxin is being increasingly used to treat migraine, tension-type headache, and other primary headache problems. It has also been utilized in clinical trials to treat neuromuscular disorders, such as focal dystonia and pain reduction associated with cervical dystonia and oromandibular dystonia.
Type B neurotoxin effectively reduces the severity, disability, and pain during cervical dystonia. High usage of botulinum toxin type B in treating muscle disorders, such as cervical dystonia, is expected to boost revenue growth in this segment during the forecast period.
Botulinum Toxin Market by Application
In terms of application, the global botulinum toxin market is segmented into therapeutics and aesthetics.
The therapeutics segment dominates the global market. This can be ascribed to the therapeutic applications of botulinum toxin in areas such as chronic migraine, cervical dystonia, overactive bladder, and spasticity. Among the various therapeutic applications of botulinum toxin, spasticity treatment accounts for the majority of the share. The increased prevalence of multiple sclerosis worldwide is one of the critical factors for spasticity incidence and the consequent demand for botulinum toxin treatments.
Botox injections are considered the best treatment option for spasticity, which relieves muscular tension and, as a result, it produces normal nerve transmission in patients. For instance, according to an article by the NCBI, the cases of multiple sclerosis were 2.8 million globally in 2020. Similarly, chronic migraine is the second largest sub-segment of the market. The strong global prevalence of chronic migraine and the proven efficacy of botulinum toxin treatments fuel the segment revenue growth. As per a report published by The Migraine Trust, approximately 10 million people in the U.K. were living with migraine in 2020. Moreover, the therapeutics segment is also rising as a result of increased R&D activities by several market players. For instance, in July 2020, Allergan PLC reported that the FDA approval of BOTOX®, a supplemental Biologics License Application (sBLA), for the treatment of lower limb muscle spasticity in young patients older than 2 years with cerebral palsy.
The aesthetic segment is expected to grow with high revenue CAGR during the forecast period. The aesthetic segment is further sub-segmented into crow’s feet, glabellar lines, forehead lines, and others. Many market players witnessed substantial growth in sales of aesthetics portfolio. AbbVie Inc. reported an 87.4% rise in the revenue from sales of their Botox portfolio globally compared to 2020.
Botulinum Toxin Market by Region
Regionally, the global botulinum toxin market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America accounts for the leading revenue share of the global market. Trending cosmetic procedures is the main driver supporting the market revenue in North America. Botox injections are the most popular cosmetic treatment in the region, with over 7 million procedures performed each year. This trend has been further growing in recent years as more and more people look to reduce the appearance of wrinkles and fine lines. Moreover, a large concentration of aesthetic service providers, practitioners, and plastic surgeons has led to a considerable increase in aesthetic operations in North America, which has helped drive the sales of botulinum toxin in the North America market. Reimbursements for botulinum toxin treatments are also favorable in North America.
Europe is the second leading region in the botulinum toxin market. The United Kingdom is well-known for cosmetic procedures, both invasive and non-invasive. The botulinum toxin market in the United Kingdom is expanding rapidly, owing to increased product approvals and high acceptance rate of botulinum toxin. Germany is predicted to see a significant increase in the number of botulinum toxin-based procedures performed, owing to increased public awareness, increase in the aging population, and a growth in the desire for a youthful appearance. According to the ISAPS (The International Society of Aesthetic Plastic Surgery), the number of cosmetic treatments performed in the country accounts for roughly 4% of overall procedures performed globally.
The market in Asia Pacific is expected to show high revenue growth during the forecast period. Among the few companies operating in the Asia Pacific botulinum toxin industry, three are based in Korea and fulfill the region’s requirements. Additionally, unauthorized local players sell a variety of products. This scenario is a clear indication of the rising demand for botulinum toxin in the Asia Pacific market. Established companies, such as Allergan, have been forming strategic alliances to maintain the production and distribution of its botulinum toxin products in Asia Pacific.
Botulinum Toxin Market Competitive Landscape
The prominent players operating in the global botulinum toxin market are:
The major factors driving the global botulinum toxin market include the rising research and development efforts to extend the therapeutic uses of botulinum toxin, growing patient preference for minimally invasive or non-invasive aesthetic therapies, and increasing demand for pain management solutions.
Evolus Inc., IPSEN Group, ALLERGEN Inc., MEDY-TOX Inc., and Merz Pharma GmbH are among the top players in the global market.
Less awareness of botulinum toxin treatments in low-income nations and lack of affordability to advanced aesthetic treatments restrain the revenue growth of the global botulinum toxin market.
The global botulinum toxin market is expected to register a revenue CAGR of 4.78% during the forecast period from 2022 to 2030.
North America dominates the global botulinum toxin market in terms of revenue share.
*Insights on financial performance are subject to availability of the information in the public domain