DUBLIN–(BUSINESS WIRE)–The “Botulinum Toxin Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type, Application, and End User” report has been added to ResearchAndMarkets.com’s offering.
The botulinum toxin market is expected to reach US$ 8,977.62 million by 2028 from US$ 5,307.71 million in 2021. It is estimated to grow at a CAGR of 7.8% from 2021 to 2028.
The factors responsible for the botulinum toxin market’s growth are increasing aesthetic procedures and the use of botulinum toxin, and the rising number of non-invasive cosmetic procedures. However, the side effects of botulinum toxin hamper the market growth.
Botulinum toxins are neurotoxins that attack nerves and cause muscle paralysis. A bacterium known as clostridium botulinum makes these neurotoxins. Healthcare providers use specific bacteria for medical injections. Injections of botulinum toxin block nerve signals to the muscle injected into it. Without a signal, the muscle cannot contract. The result is a reduction in unwanted facial lines or features. Botulinum toxin injections like Botox and Dysport improve the appearance by relaxing the muscles that cause wrinkles. These injections also treat migraines, hyperhidrosis, overactive bladder, and eye problems.
There is a significant rise in non-surgical procedures and dermal injectables across France. According to the Global Aesthetics Consensus, in 2016, ~258,438 non-surgical aesthetic procedures were performed in the country, out of which more than 101,400 were botulinum toxin (BTX) procedures. Moreover, the expansion of cosmetology clinics and the increase in the number of cosmetology practitioners are expected to drive the botulinum toxin market further in the coming years.
People from countries, such as Switzerland, Romania, and Russia, visit France for aesthetic procedures due to advanced medical services available in the country. Moreover, in Italy, every 10th patient applying for cosmetic surgery is a tourist. The Italian Association of Aesthetic Plastic Surgery (AICPE) had announced an “aesthetic alliance” with the International Society of Aesthetic Plastic Surgery (ISAPS) to develop high-quality cosmetic surgeries with enhanced patient safety.
Similarly, according to the American Society of Plastic Surgeons (ASPS), a total of 4,401,536 botulinum toxin Type A (Botox, Dysport, Xeomin) minimally-invasive cosmetic procedures were performed in the US, in which 4,136,289 were female, and 265,247 were male. In 2020, Aesthetic Neural Network (ANN) data reported total revenue of over US$ 9 billion spent on aesthetic plastic surgery.
In addition, according to the American Society of Plastic Surgeons (ASPS), in 2019, the total number of cosmetic procedures were performed in India was 643,752, in which total non-surgical procedures were 249,024, out of which botulinum toxin procedures were 70,248. Similarly, in 2019, the total number of cosmetic procedures were performed in Brazil was 2,565,675, in which total non-surgical procedures were 1,072,002 – among them, botulinum toxin procedures were 507,869.
Therapeutic uses of BTX include treating diseases, such as chronic migraines, muscle spasticity, over-reactive bladder, and hyperhidrosis. The cosmetic and clinical application of BTX offers a comprehensive and in-depth review of aesthetic procedures and medical applications for standalone treatment, as well as combination therapy. According to ISAPS, approximately 321,702 BTX procedures were performed in Germany in 2018. Due to the increase in the geriatric population and the desire to look young, the number of BTX-based procedures being performed in Germany is on the rise.
Reasons to Buy
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Market Dynamics
Drivers
- Increasing Aesthetics Procedures and Use of Botulinum Toxin
- Rising Number of Non-invasive Cosmetic Procedures
Restraints
- Side-Effects of Botulinum Toxin
Opportunities
- Increasing Therapeutic Applications of Botulinum Toxin
Future Trends
- Rise in Product Approvals
Companies Mentioned
- AbbVie Inc.
- Merz Pharma
- Medytox
- Sanofi
- Ipsen Pharma
- Galderma
- Revance Therapeutics Inc.
- Lanzhou Institute of Biological Products Co., Ltd.
- Candela Medical
- Daewoong Pharmaceutical Co., Ltd.
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