Pune, India, Nov. 04, 2022 (GLOBE NEWSWIRE) — The global botulinum toxin market size was valued at USD 5.91 billion in 2021 and USD 6.27 billion in 2022. The market is expected to reach USD 8.59 billion by 2029 with a CAGR of 4.6% during the forecast period. High demand for non-invasive cosmetic procedures is anticipated to drive market growth. Increasing importance and preference for aesthetic beauty is expected to propel the market course. The trend of launching new products by the key players is expected to facilitate market development. Fortune Business Insights™ shares this information in its report titled “Botulinum Toxin Market, 2022-2029.”
Key Industry Development
February 2022- HUGEL, Inc. announced that the company received the approval for Letybo, a botulinum toxin product. The approval was granted by the Austrian Federal Office for Safety in Health Care.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/botulinum-toxin-market-100996
Drivers and Restraints
Demand for Minimally Invasive and Non-Invasive Cosmetic Procedures to Boost Market Trajectory
Global demand for minimally invasive and non-invasive cosmetic procedures is anticipated to drive the botulinum toxin market growth. According to the International Society of Aesthetic and Plastic Surgery (ISAPS), total number of non-surgical procedures has been increased by 5.7% compared to previous year. Growth in the number of procedures is anticipated to create the product demand. Major market players have started the development of advanced products, which is expected to pose opportunities for the market growth. Increasing number of R&D activities for the expansion of therapeutic and aesthetic applications is expected to propel market development.
However, availability of counterfeit products is estimated to limit the market growth.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
COVID-19 Impact:
Decrease in Adoption of Cosmetic Procedures During Pandemic Affected Market Growth
Due to COVID-19 pandemic, there was a decrease in the adoption of cosmetic procedures and surgeries. Closure of clinics due to lockdown limited the market growth.
Click here to get the short-term and long-term impact of COVID-19 on this market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/botulinum-toxin-market-100996
Segments
Therapeutics to Dictate Due to Increasing Number of Investments
On the basis of application, the market is segmented into therapeutics and aesthetics. Therapeutics accounts for the large part due to heavy investments in R&D activities for launching new products. The therapeutics segment is further sub-segmented into chronic migraine, spasticity, overactive bladder, cervical dystonia, blepharospasm, and others.
The aesthetics segment is also expected to show significant growth due to demand for minimally invasive procedures.
Type A to Govern the Segment Due to Increasing Number of Product Launches
Based on type, market is categorized into botulinum toxin type A and botulinum toxin type B. Type A held a major part in 2021 and also during the forecast period owing to increasing number of product launches. It is the most used for cosmetic procedures.
Specialty & Dermatology Clinics to Dictate the Segment Due to Increasing Number of Procedures
On the basis of end-user, the market is categorized into specialty & dermatology clinics, hospitals & clinics, and others. Specialty & dermatology clinics to hold largest share due to significant amount of procedures occur in clinics as compared to hospitals.
Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Quick Buy – Botulinum Toxin Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100996
Regional Insights
North America to Lead Market Share Due to Increasing Number of Product Launches
North America is expected to dominate the botulinum toxin market share due to increasing number of product launches. The region reached a valuation of USD 4.04 billion in 2021. Increasing adoption of such procedures is one of the factors responsible for propelling market growth. Therefore, increase in the number of botulinum toxin procedures in the U.S. is anticipated to drive market development.
Europe is also expected to witness considerable market growth due to preference for such procedures in European countries, which is expected to increase the market share.
Asia Pacific is anticipated to have a steady growth due to various product launches and product approvals.
Competitive Landscape
Strong Product Offerings by Key Players to Advance Market Trajectory
Strong product offerings by the lead market players to gain market traction. AbbVie Inc. leads the market owing to strong product portfolio, which includes BOTOX Cosmetic and BOTOX Therapeutic. In April 2021, FDA granted the permission and approval for Onabotulinumtoxin A of AbbVie Inc. It is used to treat detrusor overactivity in pediatric patients of age 5 or above.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/botulinum-toxin-market-100996
List of Key Players Profiled in the Report
- AbbVie Inc. (U.S.)
- Ipsen Pharma (France)
- Revance Therapeutics, Inc. (U.S.)
- Merz Pharma (Germany)
- Medytox (South Korea)
- USWM, LLC. (U.S.)
- GALDERMA (Switzerland)
- Lanzhou Institute of Biological Products Co., Ltd. (China)
- HUGEL, Inc. (Republic of Korea)
Some major points from Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
-
- Overview of the Number of Botulinum Toxin Injection Procedures by Key Countries
- Overview of the Regulatory Scenario by Key Countries
- Pricing Analysis
- Overview of the Types of Botulinum Toxins
- Pipeline Analysis
- Key Industry Developments
- Overview of Applications of Botulinum Toxin in Therapeutics and Recent Regulatory Approvals
- Overview of the Reimbursement Scenario by Key Countries
- Impact of COVID-19 on Global Botulinum Toxin Market
- Global Botulinum Toxin Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Application
-
-
-
- Chronic Migraine
- Spasticity
- Overactive Bladder
- Cervical Dystonia
- Blepharospasm
- Others
-
-
- North America Botulinum Toxin Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Application
-
- Market Analysis, Insights and Forecast – By Type
- Botulinum Toxin Type A
- Botulinum Toxin Type B
- Market Analysis, Insights and Forecast – By End User
- Specialty & Dermatology Clinics
- Hospitals & Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- Market Analysis, Insights and Forecast – By Type
-
-
-
- Chronic Migraine
- Spasticity
- Overactive Bladder
- Cervical Dystonia
- Blepharospasm
- Others
-
-
-
- Market Analysis, Insights and Forecast – By Type
- Botulinum Toxin Type A
- Botulinum Toxin Type B
- Market Analysis, Insights and Forecast – By End User
- Specialty & Dermatology Clinics
- Hospitals & Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- Market Analysis, Insights and Forecast – By Type
Continued…
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/botulinum-toxin-market-100996
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
Pune – 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
