According to our latest study on “South & Central America Botulinum Toxin Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product Type, Application, and End User,” the market is projected to reach US$ 421.9 million by 2028 from US$ 278.7 million in 2021; it is expected to grow at a CAGR of 6.1% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increasing aesthetics procedures and use of botulinum toxin, and the rising number of non-invasive cosmetic procedures. However, side effects of botulinum toxin hamper the market growth.
Based on product type, the botulinum toxin market is segmented into Type A botulinum toxin and Type B botulinum toxin. In 2020, type A botulinum toxin segment accounted for the highest share of the market in the forecasted period. 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. Owing to the above-mentioned reasons there is a growing demand for the type A botulinum toxin. The type A botulinum toxin segment is also expected grow at a highest CAGR of 8.4% in South & Central America botulinum toxin market in the anticipated years.
AbbVie Inc., Merz Pharma, Medytox, Sanofi, Ipsen Pharma, Galderma, and Candela Medical are among the leading companies in the South & Central America botulinum toxin market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for botulinum toxin market is segmented into product type, application, and end user. Based on product type, the South & Central America botulinum toxin market is segmented into Type A botulinum toxin and Type B botulinum toxin. Based on application, the South & Central America botulinum toxin market is segmented into medical and aesthetic. Based on end user, the botulinum toxin market is segmented into speciality and dermatology clinics, hospitals and clinics, and others. Geographically, the botulinum toxin market is segmented into South & Central America (Brazil, Argentina, Rest of South & Central America).
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