Global Botulinum Toxin Market Report 2022: Market to Reach $7.9 Billion by 2026 - Rising Demand for Non-Invasive Cosmetic Treatments Bodes Well for BTX Market
Global Market for Botulinum Toxin
Dublin, June 20, 2022 (GLOBE NEWSWIRE) -- The "Botulinum Toxin - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Botulinum Toxin Market to Reach $7.9 Billion by 2026
Global market for Botulinum Toxin estimated at US$4.9 Billion in the year 2020, is projected to reach a revised size of US$7.9 Billion by 2026, growing at a CAGR of 8.2% over the analysis period.
Growth in the global market is driven by growing demand in medical/therapeutic and cosmetic applications. The growing acceptance of facial injectables such as BTX to facial aesthetics among adults and approval for using therapeutic BTX in the treatment of an expanded range of indications is expected to spur market expansion.
The constant development and launch of novel products for enhancing aesthetic appeal and the growing demand for minimally invasive treatments in cosmetology as well as therapeutic applications are boosting demand in the market. In the field of neuromuscular therapeutics, the use of botulinum toxin is driven by rising incidences of movement related disorders and growing number of patients with muscle spasms.
Further, new clinical indications of botulinum toxin such as in the treatment of nystagmus, stridor, palatal myoclonus, scoliosis, co-spasms following brachial plexus lesions (birth related), and gait freezing (Parkinson), have helped further strengthen growth in this space.
Type A, one of the segments analyzed in the report, is projected to record 8.2% CAGR and reach US$8.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Type B segment is readjusted to a revised 6.9% CAGR for the next 7-year period.
Botulinum toxin type A finds use in the treatment of movement disorders, vocal cord dysfunction and obesity, and is also used as a medical aid in gastric cancer. Growth in the botulinum toxin type A will be driven by its increasing use in the treatment of muscle spasms in cerebral palsy as well as neurogenic bladder diseases occurring in children.
Type B is used for various muscle related conditions. Botulinum neurotoxin type B was approved by the FDA in 2000 for treatment of for the treatment of adults with cervical dystonia to reduce the severity of abnormal head position and neck pain linked with cervical dystonia.
The U.S. Market is Estimated at $3.1 Billion in 2021, While China is Forecast to Reach $665 Million by 2026
The Botulinum Toxin market in the U.S. is estimated at US$3.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$665 Million by the year 2026 trailing a CAGR of 14.8% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1% and 6.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.1% CAGR. The United States represents the largest regional market, driven mainly by the growing approval for newer therapeutic indications.
Further the increasing focus on improving physical appearance, rising disposable incomes of people, and the subsequent rise in demand for cosmetic procedures is also fueling growth. Rising demand for non-invasive or minimally invasive aesthetic treatments is also contributing to the growth of Botox market in the US.
Europe also offers attractive opportunities for the botox market owing to the presence of a large number of cosmetic product manufacturers. Rapidly improving socio-economic conditions and proliferation of medical tourism, particularly in Asian countries, presents favorable prospects for botulinum toxin in Asia-Pacific region.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
COVID-19 Disruptions Impact Botulinum Toxin Business
Virtual Care to the Fore amid COVID-19
COVID-19 Disruptions Highlight Significance of Botulinum Toxin Therapy for Associated Medical Conditions
Researchers Eye on Botulinum Toxin as Potential Therapeutic Option to Alleviate and Manage COVID-19 Infection
Botulinum Toxin - Global Key Competitors Percentage Market Share in 2022 (E)
Therapeutic BTX Applications Lead
Cosmetic BTX Gradually Gains Momentum
Factors Propelling the Cosmetic BT Market: In a Nut Shell
Developed Regions Dominate Botulinum Toxin Market
Developing Markets to Drive Future Growth
Competitive Landscape
Intense Competition Characterizes Botulinum Toxin Market
Select Approved Botulinum Toxin Products Worldwide
Companies Entering the Fray
Pharma Companies Eye Lucrative BT Market
Biosimilar BTX Variants Challenge Botox's Leadership
Lack of Differentiation among Approved BTX Products
Comparison of Leading Neurotoxins - Botox, Dysport and Xeomin by Safety and Efficacy
Comparison of Botox, Dysport and Xeomin by Indications and Year of Approval
BOTOX
Approvals and Indications of Botox in Select Regions
Botox Therapeutic Approvals in the US by Indication
Ipsen Counts on New Indications for Future Growth of Dysport
Xeomin
Merz
Other Products
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 28 Featured)
AbbVie
Daewoong Pharmaceutical Co., Ltd.
HUGEL Pharma
Ipsen Group
Medy-Tox Inc.
Merz Pharma GmbH & Co. KGaA
Metabiologics, Inc.
Revance Therapeutics, Inc.
US WorldMeds
3. MARKET TRENDS & DRIVERS
Rising Demand for Non-Invasive Cosmetic Treatments Bodes Well for BTX Market
Botulinum Toxin: The Preferred Solution in Facial Injectables Market
Millennials: A Popular Demographic for Botulinum Toxin
Therapeutic Areas and Opportunities
Botox Therapeutic Applications Uses and Indications
Botulinum Toxin Remains Gold Standard for Treatment of Focal Spasticity
Rise in the Number of Musculoskeletal Indications: Potential for Growth
Unmet Medical Needs Encourage Off-Label Use: A Cause for Concern or Jubilation?
Combination Therapies: A Double Whammy Success
Botulinum Toxin: Potential Applications in Treatment of Dental Diseases
Potential Applications in Dentistry
Short-lived Aesthetic Effects: A Strong Business Case for Revision Treatments
Novel Injection Systems for Highly Precise Dosage of Botulinum Toxin
Longer Life Expectancy and Rising Disposable Incomes Propel Sales of Cosmetic BTX
Increase in Healthcare Spending Stirs Demand for BTX in Therapeutic Applications
Challenges and Issues
Undesirable Side Effects: A Challenge to Reckon With
Immunogenicity Undermines Patient Compliance
Antigenicity: A Problematic Issue in Drug Development
Potential Adverse Side Effects: A Major Barrier to Success
Stringent Regulations Delay Market Approvals
Higher Product Costs to Challenge Market Growth
Consumer Skepticism: The Biggest Challenge to Beat
Animal Cruelty: A Part & Parcel of Botox Testing
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/2zx326
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