USD 5.8 billion
Global Botulinum Toxin Market Size, Share, Growth Analysis, By Type(Botulinum Toxin Type A, Botulinum Toxin Type B), By End Use(Aesthetic, Therapeutics) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2220 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
61 |
Figures:
75
Global Botulinum Toxin Market Insights
Botulinum Toxin Market size was valued at USD 5.8 billion in 2019 and is poised to grow from USD 6.47 billion in 2023 to USD 17.23 billion by 2031, growing at a CAGR of 11.5% in the forecast period (2024-2031).
Botulinum Toxin (BNT) is a neurotoxin with seven antigenic forms: BNT-A, B, C, D, E, F, and G. It is produced by the anaerobic bacterium Clostridium botulinum and is commonly used for cosmetic purposes. Currently, just a few BNT - A goods and one BNT - B product are commercially available in the market. However, significant investment in R&D initiatives to develop botulinum toxin's therapeutic usage is offering chances for its use cases to expand botulinum toxin market in the coming years.
The spike in the demand for cosmetic, non-invasive surgical procedures, new product launches, improving affordability, and changes in reimbursement policies to cover botulinum injections are some of the factors driving growth of the global botulinum toxin market.
US Botulinum Toxin Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Aesthetic
Fastest Growth
Aesthetic
Growth Rate
11.5% CAGR
Global Botulinum Toxin Market ($ Bn)
Country Share for North America Region (%)
Global Botulinum Toxin Market By End Use ($ Bn)
Global Botulinum Toxin Market By End Use (%)
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Global Botulinum Toxin Market Segmental Analysis
The global botulinum toxin market segmentation by type, end use, and region. By type, the botulinum toxin market is segmented into botulinum toxin type A, botulinum toxin type B. Based on end use, the market is segmented into therapeutic and aesthetic. Based on region the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Botulinum Toxin Market to Floushrish with Growing Consumption of BT in Aesthetic Application
In 2021, the aesthetic segment dominated the global botulinum toxin market and is projected to continue holding its position during the forecast period. Botulinum toxin is largely utilized for cosmetic (aesthetic) purposes that majorly includes improving facial looks and minimizing aging indications. It is used to treat crow's feet lines, frown lines, and glabellar lines.. Allergan, one of the key players in the global botulinum toxin market, got FDA approval for botulinum toxin (Botox) in 2004 for hyperhidrosis; cervical dystonia in 2009; post-stroke upper limb spasticity in 2010; and urine incontinence and overactive bladder in 2011. As a result, continual R&D efforts are broadening the usage of Botox across diverse indications.
Global Botulinum Toxin Market By End Use , 2023 (%)
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Global Botulinum Toxin Market Regional Insights
North America dominated the global botulinum toxin market in 2021, owing to the region's highly aware and economically stable population, as well as a significantly higher number of procedures conducted in the US and Canada. In 2021, more than 3.6 million cosmetic procedures involving neurotoxins (such as Botox) were performed. The increasing availability of numerous non-invasive cosmetic treatments and frequent new product approvals for a wide range of therapeutic indications are expected to fuel the expansion of botulinum toxin market over the forecast period.
Europe is second-largest botulinum toxin market because of high demand for botox operations in most of the European nations and increased research and development spending in Europe.
According to a study conducted in the United Kingdom, women who had assessed their self-esteem, life satisfaction, and attractiveness as low had little religious beliefs, and were exposed to a lot of media were more likely to get botox.
On the other hand, some of the developing countries in Asia Pacific and Latin America like India, China, Brazil, Thailand are experiencing a condierable growth in the demand for cosmetic surgeries that involves the use of botulinum toxin. The Asia Pacific botulinum toxin market growth is further supported by rising per capita disposable income, increased want to look beatuful and growing impact of social media are taking the market to next level. As a result, Asia Pacific botulinum toxin market is primed to see an increase in the demand for non-invasive aesthetic operations. According to the annual Global Aesthetic Survey conducted by the International Society of Aesthetic Plastic Surgery (ISAPS), medical tourism for cosmetic operations in Thailand is expanding, with more than 33.2% of cosmetic surgery patients coming from other countries.
Global Botulinum Toxin Market By Region, 2024-2031
- Largest
- Fastest
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Global Botulinum Toxin Market Dynamics
Botulinum Toxin Market Driver
- Rising Demand for Minimally Invasive Cosmetic Procedures to Drive Botulinum Toxin Market
The demand for botulinum toxin is increasing in minimally invasive to non-invasive cosmetic surgeries. Botulinum toxin is used to relax the muscles that cause wrinkles. It is also used to improve the appearance of skin irregularities. The most common areas treated with botulinum toxin are the forehead, eyes, and mouth. As a result, the number of cosmetic procedures performed each year is increasing. In 2020, Botulinum toxin became the the most popular non-surgical cosmetic surgery worldwide. Over 6.2 million Botox injections were administered by plastic surgeons throughout that year. Hyaluronic acid and hair removal were the second and third most prevalent types of non-surgical cosmetic procedures worldwide.
- Technological Improvements to Drive Global Botulinum Toxin Market
The availability of minimally invasive operations performed by highly qualified aesthetic surgeons has contributed to the increase in procedural volume. Furthermore, technological improvements, the introduction of low-cost aesthetic products, the aging population, and the increased incidence of aesthetic problems such as crow's foot and lateral canthal lines are all contributing to the global growth of the botulinum toxin market.
Botulinum Toxin Market Restraint
- Side Effects of Botulinum Toxin Might Hamper the Growth of Global Botulinum Toxin Market
Side effects of botulinum toxin injection in patients, such as allergic reactions, rash, neck and back pain, difficulty swallowing, shortness of breath, and nausea are expected to hamper the growth of the botulinum toxin market. Potentially serious occurrences are the result of the toxin's systemic dissemination, which might cause botulism-like symptoms or systemic anaphylactic reactions. Cosmetic application of botulinum toxin seldom results in serious negative effects.
It has been observed that serious side effects are 33 times more common in therapeutic circumstances than in cosmetic cases. According to our estimates, the median botulinum toxin dose is four times larger in therapeutic instances than in cosmetic situations. They are defined as a life-threatening occurrence that necessitates intervention to prevent permanent damage and is connected with patient hospitalization or the extension of an existing hospitalization, as well as chronic or major disability. All these factors are likely to hamper the botulinum toxin market to some extent.
- High Botulinum Toxin (BNT) are Expesive
The botulinum toxin (BNT) procedures are expensive procedures, as well as low reimbursement coverage for treatments such as myobloc are deterring patient from opting the procedure. In addition, lack of inclusion of cosmetic procedure in insurance further stops people from avaialing the procedure performed, which further negatively affects the botulinum toxin market.
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Global Botulinum Toxin Market Competitive Landscape
The key players in the botulinum toxin market are working on continuous innovation and product portfolio enhancement for better aesthetic and therapeutic outcomes for patients. For example, in February 2021, AbbVie, one of the prominent players in global botulinum toxin market, got FDA clearance for Botox to treat detrusor overactivity associated with a neurological disease in select pediatric patients aged 5 and older. Furthermore, the growing relevance of aesthetic beauty, fueled by the expanding therapeutic applications of these toxins for critical and chronic diseases, is expected to drive the growth of botulinum toxin during the forecast period.
Top Players in Botulinum Toxin Market
- Allergan
- Ipsen
- Merz Pharma
- Medytox
- Revance Therapeutics
- US WorldMeds
- Galderma
- Hugel
- Suneva Medical
- Daewoong Pharmaceutical
- Mylan
- Evolus
- Teijin Pharma
- Anterios Inc.
- Canbex Therapeutics
- Lanzhou Institute of Biological Products
- Eisai
- SciClone Pharmaceuticals
- InMed Pharmaceuticals
- Syneron Medical
Recent Development in Global Botulinum Toxin Market
- In April 2022, PatientFi, an emerging company in patient payments, announced expansion of its co-marketing agreement with Allergan Aesthetics, an AbbVie company, to provide financing options for patients interested in treatments such as BOTOX Cosmetic (onabotulinumtoxinA), JUVÉDERM Collection of Fillers, Natrelle breast implants for breast augmentation, CoolSculpting, and DiamondGlow.
- In February 2022, Healis Therapeutics announced that its its ownership of a crucial botulinum toxin patent from AbbVie. Allergan obtained the rights to develop botulinum toxin for depression in 2013 after clinically significant outcomes in early trials. In 2017, Allergan completed a Phase II study and announced intentions for a Phase III investigation. AbbVie obtained control after acquiring Allergan in 2020.
Global Botulinum Toxin Key Market Trends
- Women accounted for 92% of all cosmetic procedures performed around the globe while only 8 males undergo cosmetic procedures
- Individuals over the age of 40 are concerned with their physical appearance and want to look younger. As a result, they are putting increased emphasis on cosmetic traits especially by women, particularly in developed countries. These factors are is expected to drive botulinum toxin market growth. In 2020, more than, 2.5 million women aged between 40-54 years underwent botulinum toxin surgery around the globe.
Global Botulinum Toxin Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, the aesthetic segment dominated the global botulinum toxin market in 2021 and is anticipated to maintain its dominace throughout the forecast period.
In 2021, North America dominated the global botulinum toxin market owing to the region's highly aware and economically stable population, as well as a significantly higher number of procedures conducted.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.8 billion |
| Market size value in 2031 | USD 17.23 billion |
| Growth Rate | 11.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Botulinum Toxin Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Botulinum Toxin Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Botulinum Toxin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Botulinum Toxin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Botulinum Toxin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Botulinum Toxin Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Botulinum Toxin Market Report Snapshots
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