Botulinum Toxin Market is expected to reach US$ 8,977.62 Million by 2028

Increase in Aesthetics Procedures to Contribute to Botulinum Toxin Market Growth

According to our latest market research study, titled “Botulinum Toxin Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and End User,” the market is expected to reach US$ 8,977.62 million by 2028 from US$ 5,307.71 million in 2021. It is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The report highlights the trends prevailing in the botulinum toxin market and market drivers and deterrents. Increasing aesthetic procedures and the rising number of non-invasive cosmetic procedures are driving the botulinum toxin market. However, the surge in awareness regarding the side effects of botulinum toxin is hampering the botulinum toxin market growth.

Based on product type, the global botulinum toxin market is segmented into type A botulinum toxin and type B botulinum toxin. In 2020, the type A botulinum toxin segment held the largest share of the market. Moreover, the type A botulinum toxin segment market is expected to grow at the highest CAGR during 2021–2028. With a wide range of uses and a favorable safety profile, botulinum toxin A injection is a minimally invasive and promising treatment for cosmetic imperfections, muscle spasms, and other conditions.

There are many uses for botulinum toxin A in treating dystonia, incontinence, migraine, blepharospasm, and hyperhidrosis. Depending on the preparation, botulinum toxin A is indicated for different diseases. Cosmetically, it treats fine lines and wrinkles on the face, particularly wrinkles on the upper face, including the forehead, side corners of the eyes, and glabellar lines.            

The COVID-19 pandemic substantially impacted the number of aesthetic surgeries in the region due to the closure of practices. Board-certified plastic surgeons of The American Society of Plastic Surgeons (ASPS) pointed out that COVID-19 caused them to halt performing elective surgical procedures for an average of 8.1 weeks in 2020, or 15% of the year, mirroring a drop in the overall number of procedures conducted the previous year. According to the American Society of Plastic Surgeons (ASPS), the COVID-19 pandemic expected to result in a 15% drop in the total number of cosmetic procedures in 2020, which is roughly in line with the period practices were closed — with three of the top five procedures focusing on the face. During stay-at-home orders in 2020, minimally invasive cosmetic operations declined slightly more than surgical procedures (16 % vs. 14 %) for the first time in four years. The following were the top five cosmetic minimally invasive procedures performed in 2020, out of a total of 13.3 million: Type A botulinum toxin (4.4 million procedures). After the COVID-19 pandemic, the market is expected to grow due to newly approved indications, the need for repeat treatments, and a largely favorable reimbursement environment, leading to a significant increase in procedure volume and sales.

A few prominent players operating in the botulinum toxin market are AbbVie Inc., Merz Pharma, Medytox, Sanofi, Ipsen Pharma, Galderma, Revance Therapeutics Inc., Lanzhou Institute of Biological Products Co., Ltd., Candela Medical, and Daewoong Pharmaceutical Co. Ltd.

Companies are launching new and innovative products and services to sustain their position in the botulinum toxin market. In August 2021, Merz Therapeutics was granted the use of XEOMIN for the symptomatic treatment in children and adolescents aged 2 to 17 years of chronic sialorrhea due to neurological/neurodevelopmental disorders on the EU level.

Botulinum Toxin Market, by Region, 2020 (%)

The report segments the global botulinum toxin market as follows:

The botulinum toxin market is analyzed on the basis of product type, application, end user, and geography.

Based on product type, the market is segmented into type A botulinum toxin and type B botulinum toxin. Based on application, the market is categorized into medical and aesthetics. Based on end user, the market is classified into specialty and dermatology clinics, hospitals and clinics, and others. In terms of geography, the botulinum toxin market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America). 

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com