Press Release
Press Release
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.
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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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