The major factors propelling the growth of the global botulinum toxin market include rising aesthetic consciousness and a number of noninvasive cosmetic procedures. According to the recent data of American Society of Plastic Surgeons (ASPS), in 2018 among the 15.9 million cosmetic minimally-invasive procedures performed in the United States, Botulinum Toxin Type A tops the list with 7.44 million procedures. Furthermore, technological advancements, the introduction of cost-effective aesthetic products, aging population and rising the incidence of aesthetic problems, such as crow’s foot and lateral canthal lines are also boosting the growth of the botulinum toxin market globally. However, the side effects of available products, lack of reimbursement policies supporting cosmetic procedures, and the high cost of the products can limit the adoption rate of botulinum toxin during the forecast period.
Scope of the Report
Botulinum toxin is derived from the bacterium Clostridium botulinum. It is neurotoxic and can cause paralysis. As a result, highly diluted concentrations of botulinum toxin are used for aesthetic purposes, such as for the treatment of frown lines between the eyebrows.
Key Market Trends
Cosmetic Applications segment holds significant market share
The botulinum toxin injection for the treatment of wrinkles is one of the most frequently performed cosmetic procedures worldwide, and it is one of the most common entry procedures for clinicians who seek to incorporate aesthetic treatments into their practice. The effects of the botulinum toxin take about two weeks to develop and usually last three to four months fully. Further injections need to be given in order to sustain the effects for a longer period, and recurring revenue from injectable botulinum toxin encourages beauty clinics and medical practitioners to continue to recommend it.
The most popular wrinkle relaxers, Botox, Dysport, and Xeomin, are comprised of botulinum toxin. Botox and Dysport are FDA approved for treating frown lines between the eyes, forehead lines, and crow’s feet. Xeomin is FDA-approved for frown lines. The major difference between Dysport and Botox is that Dysport contains smaller molecules, which leads to faster results.
The Asia Pacific is the fastest-growing region in Global Botulinum Toxin Market
The reasons considered major in the growth of the Botulinum Toxin Market in the Asia Pacific are increased the purchasing power of the consumer, rising disposable income and increasing beauty consciousness among people. Plastic surgery has become so popular among the consumers Asia Pacific countries, as there has been a greater influence of social media among the population. One of the other most popular procedures found to be performed in Japan in 2014 were Botulinum toxin and hyaluronic acid (non-surgical), and eyelid surgery and rhinoplasty (surgical). According to ISAPS, the total number of botulinum toxin procedures carried out in Japan in 2015 was 212,372. Furthermore, there are also improvements in technologies for making treatments more effective, as well as less invasive, and therefore requiring shorter recovery time. For instance, Teijin Limited a Japanese company had signed an exclusive agreement with Merz Pharma in 2017, opening a new window regarding Xeomin (incobotulinumtoxinA), i.e. novel type A botulinum neurotoxin.
The botulinum Toxin market has rapidly evolved over the last few years. Industry observed significant changes in adopting market strategies such as product developments, mergers, and acquisitions in recent years. Thus, the Botulinum Toxin market has become a very competitive industry. Major companies in the market are US WorldMeds, LLC., Galderma, Evolus, Inc., Allergan, Merz Pharma amongst others.
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