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Global Botulinum Toxin Market to Grow at a CAGR of 8.4% During 2022-2027, Aided by the Rising Application of the Product in the Cosmetics and Healthcare Industry

According to a new report by EMR titled, ‘Global Botulinum Toxin Market Report and Forecast 2022-2027’, the market witnessed a healthy growth in the historical period of 2017-2021. The market is further expected to grow at a CAGR of 8.4% between 2022 and 2027.

The botulinum toxin industry is driven by the rising application of the product in the cosmetics industry. This can be attributed to application of botulinum toxin to enhance the facial appearance and reduce the signs of ageing in a person. The rising demand for these procedures is expected aid the market in the forecast period. Botulinum toxin is also used to treat frown lines, crow’s feet, and glabellar lines. Meanwhile, the clinical properties of the product make it vital for cosmetic surgeries which are less painful. Therefore, the inclination of people towards non-invasive surgeries is anticipated to further propel the sales of the product in the forecast period.

Botox is one of the most popular downstream products of botulinum toxin, and is used to treat neck spasms, excessive sweating, overactive bladder, and lazy eye, among others. In February 2021, AbbVie (NYSE: ABBV) company’s Allergan announced that the U.S Food and Drug Administration (FDA) has approved Botox for the treatment of detrusor (bladder muscle) overactivity in paediatric patients 5 years of age and older with an inadequate response to anticholinergic medication. Such developments are likely to have a positive impact on the market growth in the forecast period.

In terms of region, North America is likely to account for a significant share in the market, owing to the increasing demand for the product in the healthcare and cosmetics industry. The rising awareness about the availability of appearance enhancement procedures and the growing cases of various skin and muscle disorders are anticipated to augment the market growth over the forecast period. Furthermore, the expansion of beauty and cosmetic products, coupled with heavy research and development activities in the medical field, especially in the United States, is projected to bolster the market growth in the coming years.

Market Breakup by Type, Application, End User, and Region:

  • The market is bifurcated, based on type, into type A and type B.
  • The significant applications of the product include cosmetics and non-cosmetics. Among these, the cosmetics segment is distributed, by type, into glabellar lines, lateral canthal lines (crow’s feet), and forehead lines, among others. Meanwhile, the non-cosmetics segment can be segmented, by type, into dystonia, chronic migraine, and ophthalmologic disorders, among others. 
  • The various end users of the product include hospitals, and clinics, among others. 
  • Region-wise, the global market for botulinum toxin can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for botulinum toxin is being driven by the rising application of the product in the cosmetics and healthcare industries. 
  • The growing research and development activities in the field of cosmetics and medicine are likely to propel the market growth.  
  • The growing awareness among individuals about the availability of cosmetic surgeries is anticipated to drive the market growth in the forecast years. 
  • The market is likely to be aided by the rising inclination of people towards minimally-invasive and less-painful cosmetic procedures.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for botulinum toxin for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the    types, applications, end users, and regions of botulinum toxin.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global botulinum toxin market are Galderma SA, Merz Pharma GmbH, AbbVie Inc., Revance, and Hugel, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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