Botulinum Toxin Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMPH2832 | Last Updated On: Jun 23 2022 | Available Formats

> Global Botulinum Toxin Market Expected to reach a high CAGR during the forecast period 2022-2029: DataM Intelligence

Global Botulinum Toxin Market is segmented By Type (Botulinum toxin type A, Botulinum toxin type B, Botulinum toxin type C, Botulinum toxin type D, Botulinum toxin type E, Botulinum toxin type F, Botulinum toxin type G), By Application (Cosmetic Applications (Glabellar lines, Lateral canthal lines, Forehead Lines, Other), Non-Cosmetic Applications (Dystonia, Chronic migraine, Ophthalmologic disorders, Other)), By End-use (Hospital, Dermatology Clinics, Spas & cosmetic centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Botulinum Toxin Market" is estimated to reach at a CAGR during the forecast period (2022-2029).  

Botulinum toxin is a neurotoxin produced by anaerobic bacteria known as Clostridium botulinum. Botulinum toxin is widely used for aesthetic purposes. Heavy investment in R&D projects to develop the therapeutic use of botulinum toxin is creating opportunities for the expansion of its application area in near future. 

 

Market Dynamics

The global botulinum toxin market growth is driven by the growing patient preference towards non-invasive or minimally treatments coupled with the development of novel products will thus accelerate the market growth.

Rising aesthetic consciousness and a number of non-invasive cosmetic procedures is expected to drive the growth in the forecast period

The botulinum toxin market is primarily driven by rising aesthetic consciousness and a number of non-invasive cosmetic procedures. According to the recent data of the American Society of Plastic Surgeons (ASPS), in 2018 among the 15.9 million cosmetic minimally-invasive procedures performed in the United States, Botulinum Toxin Type A tops the list with 7.44 million procedures. Many advanced non-surgical and minimally invasive aesthetic procedures were developed at the beginning of the 21st century. The increasing quality of care improved professional services, and the availability of minimally invasive surgeries by highly qualified aesthetic surgeons have contributed to the growth of procedural volume.

Furthermore, the aging population, rising incidence of aesthetic problems such as lateral canthal lines, crow’s feet and introduction of cost-effective aesthetic products are also boosting the botulinum toxin market demand. The focus of market players to develop and add new products to cosmetic procedures will further contribute to the market growth significantly.

Increase in the prevalence of spasticity and cervical dystonia, expected to drive the market growth

An increase in the prevalence of spasticity and cervical dystonia and the number of cases of migraine is expected to drive the botulinum toxin market during the forecast period. The surge in the rate of adoption of non-surgical botulinum toxin procedures, due to their noninvasive or minimally invasive nature, is boosting the botulinum toxin market. The rise in the worldwide geriatric population and incidences of aesthetic issues, such as crow’s foot and lateral canthal lines, is a key factor that is anticipated to propel the botulinum toxin market during the forecast period.

Side effects of available products are likely to hinder the market growth

However, the side effects of available products, lack of reimbursement policies supporting cosmetic procedures, and the high cost of the products can limit the adoption rate of the botulinum toxin market during the forecast period.

 

COVID-19 Impact Analysis

Botulinum toxins are potent neurotoxins that can induce paralysis of muscle and acute respiratory arrest in humans. However, a mild dose of the purified form of botulinum toxins has been known to attenuate chronic cough, dyspnoea, pneumonia, acute respiratory failure, abnormal circulation, cardiac defects and various neurological deficits that have been recognized as the prominent clinical symptoms of COVID-19. This signifies the therapeutic uses of botulinum toxins against pulmonary failure, cardiac arrest and neurological deficits, and emphasizes the rationality for the possible use of botulinum toxins to prevent infection and manage COVID-19. Thus, the therapeutic nature of botulinum toxins in the treatment of COVID-19 will drive its market.

Segment Analysis

Botulinum toxin type A, the segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)

Botulinum toxin type A is segment is expected to maintain its dominance throughout the forecast period. Various products of Botulinum toxin type A are commercially available in the market which includes leading brands such as Botox and Dysport. Botox has an aesthetic application in moderate and severe glabellar lines removal and therapeutic application in treating severe primary axillary hyperhidrosis, blepharospasm, and cervical dystonia. Similarly, Xeomin is used for the removal of glabellar lines and the treatment of cervical dystonia and blepharospasm in some countries. However, it is observed that these products have few side effects such as allergic reactions, rash, nausea, neck, and back pain. BNTA products are also quite expensive and involve high expenses while performing surgical procedures. Hence, such factors are hindering the growth of the market.   

The cosmetic applications are expected to dominate the botulinum toxin market during the forecast period

There is a rising demand for aesthetic appearance among individuals that have created a subsequent demand for botulinum toxin procedures around the world. The concerns of people regarding their appearance are gradually on the increase, both in the developed and the developing world; thus, there is an increase in the number of cosmetic surgeries done, annually.

According to the International Society of Aesthetic Plastic Surgery 2018 report, there has been an increase in botulinum toxin procedures worldwide by 17.4% in 2018 compared to 2017. The botulinum toxin injection for the treatment of wrinkles is one of the most frequently performed cosmetic procedures worldwide, and it is one of the most common entry procedures for clinicians who seek to incorporate aesthetic treatments into their practice. Moreover, the effects of the botulinum toxin take about two weeks to develop and usually last three to four months fully. Further injections need to be given to sustain the effects for a longer period, and recurring revenue from injectable botulinum toxin encourages beauty clinics and medical practitioners to continue to recommend it.

 

Geographical Analysis

North America region holds the largest market share global botulinum toxin market

North America region is dominating the global botulinum toxin market accounted for the largest market share in 2020. Medical aesthetic technology has advanced rapidly over the last two decades in the United States. The highly advanced technologies have offered a wide range of products and solutions to patients seeking medical assistance. ​

According to the American Society for Aesthetic Plastic Surgery in 2018, 1,801,033 procedures had been performed with botulinum toxin, and it was the number one non-surgical procedure found in 2018. Out of the total procedures, 1,638,940 were considered for females and 162,093 for males. ​

There is also increased competition in the US botulinum toxin market that is set to increase with the launch of Jeuveau. Evolus Inc. in 2019, received the US FDA approval for its lead product, Jeuveau, for the temporary improvement in the appearance of moderate to severe glabellar lines associated with corrugator and/or procerus muscle activity in adults. Similarly, Daewoong pharmaceutical, in 2019, also officially launched Nabota, its botulinum toxin (BTX) strain, in the United States.

 

Competitive Landscape

The Botulinum Toxin market is moderately competitive with the presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Allergan, Eisai Co., Ltd, Hugel, Inc., Hugh Source International Ltd., Ipsen, Medytox, Inc., Merz Pharma, Evolus, Inc., AbbVie, Revance Therapeutics, Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the botulinum toxin market globally.    

Botulinum Toxin Market Key Companies to Watch

Allergan Plc.

Overview: Allergan plc, incorporated on May 16, 2013, is a specialty pharmaceutical company. The Company is engaged in the development, manufacturing, marketing and distribution of brand name pharmaceutical products, medical aesthetics, biosimilar and over-the-counter (OTC) pharmaceutical products. The Company operates through three segments: US Specialized Therapeutics, US General Medicine and International. The US Specialized Therapeutics segment includes sales relating to branded products within the United States, including Medical Aesthetics, Medical Dermatology, Eye Care, Neurosciences and Urology therapeutic products.

Product Portfolio: The Company’s portfolio is comprised of pharmaceutical products of specialties for ophthalmologic care, neuromuscular, dermatological and urologic medical devices primarily facial aesthetics products, breast plastic products.

Key Development: In September 2018, Allergan acquired Bonti Inc, a biotechnology company that focused on the commercialization and development of a novel and fast-acting neurotoxin program for therapeutic and aesthetic applications. This acquisition enabled Allergan to obtain Bonti’s two pipeline botulinum neurotoxin as well as expand its business portfolio and strengthen its market position.

The global botulinum toxin market report would provide access to an approx. 61 market data table, 56 figures and 180 pages.

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