Global Botulinum Toxin Market

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: July, 2001
Pages: 165 | Tables: 61 | Figures: 75

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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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).

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 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. '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'

Rising Demand for Minimally Invasive Cosmetic Procedures to Drive Botulinum Toxin Market

Women accounted for 92% of all cosmetic procedures performed around the globe while only 8 males undergo cosmetic procedures

North America dominated the 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.

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Global Botulinum Toxin Market

Product ID: SQMIG35I2220