Botulinum Toxin Market

Market Study on Botulinum Toxin: Application to Increase for Therapeutic & Aesthetic Purposes

Botulinum Toxin Market Segmented By Crow’s Feet, Forehead Lines, Frown Lines/Galbellar, Square Jaw Masseter as Cosmetic Applications and Chronic Migraine, Muscle Spasm, Over Reactive Bladder, Hyperhydrosis as Therapeutic Applications

  • December-2021
  • PMRREP22990
  • 216 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Botulinum Toxin Market Snapshot

The global botulinum toxin market is valued of US$ 5.5 Bn at present, and is set to expand at a CAGR of 6.9%, and reach a valuation of US$ 10.7 Bn by 2031, as projected by Persistence Market Research.

Type A botulinum toxin accounts for more than 99% of the overall botulinum toxin market. Global botulinum toxin sales account for approximately 3% of the global cosmetics market.

Botulinum Toxin Market Size (2020)

US$ 5 Bn

Projected Market Value (2031)

US$ 10.7 Bn

Global Market Growth Rate (2021-2031)

6.9% CAGR

Market Share of Top 5 Countries

72.4%

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Companies

  • Allergan PLC
  • U.S. WorldMeds
  • Hugh Source (International) Ltd.
  • Galderma laboratories.
  • Revance Therapeutics, Inc.
  • Ipsen Pharma
  • Merz Pharma GmbH & Co. KGaA
  • Daewoong Pharmaceuticals Co.,Ltd.
  • HUGEL Pharma
  • Medy-Tox Inc
  • Lanzhou Institute of Biological Products Co., Ltd
  • Teijin Pharma Ltd

Sales Analysis of Botulinum Toxin from 2016 to 2020 Vs Market Outlook for 2021 to 2031

The global botulinum toxin market recorded a historic CAGR of 8.2% over the last 5 years from 2016 to 2020.

Growing life expectancy has increased the average age of the population around the world. Because of the growing age of the population, there is increased importance for aesthetics and good looks, which has directly affected the need for Botox treatments positively.

The global botulinum toxin market is set to witness steady growth over the forecast period at a CAGR of 6.9%.

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What’s Driving Botulinum Toxin Demand Growth?

Botox injections help by blocking neurotransmitters that carry pain signals to the brain. Thus, they have been proven significant in decreasing the frequency and duration of migraine in many patients. With increasing cases of stress-triggered migraine and cluster headaches, there has been a significant positive impact on the growth of botulinum toxin injection procedures and Botox treatment, and, in turn, the botulinum toxin market.

The COVID-19 pandemic had a positive impact on the botulinum toxin market during lockdown periods. Men and women, both opted for some kind of cosmetic procedures in the latter half of 2020. For instance, according to the American Society of Plastic Surgeons, approximately 4.4 million Botulinum type A procedures were conducted in the U.S. alone, in the year 2020.

Increase in healthcare spending is a direct indication of improvement of the healthcare sector of countries. Thus, it implies the availability of various therapeutic and preventive procedures for disorders such as migraine, conditions such as over-reactive bladders, hyperhidrosis, and others that require Botox procedures. Thus, rising prevalence of these conditions will propel botulinum toxin consumption over the forecast period.

Other factors that have a positive impact on market growth include growing demand for aesthetic procedures, increased number of non-surgical Botox treatment procedures, frequent approvals of botulinum toxin products, and innovative technologies such as dermal fillers and use of neuromodulators.

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What are the Key Opportunities for Botulinum Toxin Manufacturers?

The decade is set to witness many lucrative opportunities for manufacturers of botulinum toxin around the world. The industry is consolidated by a few key players manufacturing botulinum toxins.

Emerging economies are starting to spring up as competition to market players in the past few years. With growing influence of the fashion and aesthetics industry, there will be numerous opportunities for botulinum toxin suppliers over the coming years.

  • For instance, a global leader in botulinum toxin production, Allergan PLC, in June 2021, launched a campaign called 'See Yourself', which highlights the success stories of real Botox cosmetic patients. This campaign was initiated as a part of the efforts to reach its audiences and consumers globally.

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What is Restraining Demand for Botulinum Toxin?

Since botulinum toxin is produced using microbes that are accessible to many parties, several counterfeit products are available in the market. These products are not approved by any regulatory bodies but are easily available online.

Counterfeit botulinum toxin products present a major challenge, especially in the Asia Pacific region. Most approved products encounter difficulty entering and sustaining in the Chinese market. This will impart a negative effect on the global botulinum toxin market.

Botulinum toxin is derived from Clostridium botulinum. Most companies manufacturing botulinum toxin, manufacture type A. The only Type B botulinum toxin is manufactured by U.S. World Meds. Thus, lack of differentiation among approved products proves to be another restraint for botulinum toxin sales.

Country-wise Insights

Why is the U.S. the Largest Market for Botulinum Toxin?

North America is one of the major contributors to the global market for botulinum toxin. The U.S. accounted for more than 95% share of botulinum toxin consumption in the year 2020, and is expected to show a similar trend over the forecast period.

Growing geriatric population presents high demand for Botox procedures. Frequent approvals of various Botox products and rising number of non-surgical procedures in aesthetics are some of the major drivers of the market in the country. Various innovations in the cosmetics industry and improved R&D efforts by key players will present lucrative opportunities over the forecast period in this region.

How is Demand for Botulinum Toxin Shaping Up in Germany?

Germany is expected to hold nearly 17% share of the European market for botulinum toxin in 2020.

Botox procedures and dermal fillers are experiencing high demand in Germany due to their cost-effectiveness. Also, various dermatology clinics, beauty salons, and spas offer these kind of procedures in Germany, which also contributes to rising demand for botulinum toxin in the country.

Will China Become an Emerging Market for Botulinum Toxin?

China held 1/4 share of the total Asia Pacific botulinum toxin market in the year 2020.

China holds a prominent position in this industry since it has many emerging local players and improved healthcare infrastructure. The Chinese market for botulinum toxin procedures was valued at US$ 154.5 Mn in 2020, and is expected to grow at a steady pace over the coming years.

Category-wise Insights

Which Type of Botulinum Toxin Drives Most Market Growth?

Botulinum toxin type A is expected to hold more than 98% of the over market in 2021. The reason for this being, type A toxin is used in all cosmetic procedures that are in high demand around the world.

Cosmetic procedures are very much sought-after by the working population around the world. Increasing use of social media & the selfie culture, and use of Botox as a preventive maintenance therapy are adding to rising demand for Botox procedures across regions.

Why is Demand for Botulinum Toxin High in Therapeutic Applications?

Therapeutic application of botulinum toxin is propelling demand at a projected CAGR of 7.2% over the forecast period. Therapeutic uses of botulinum toxin include treatment of chronic migraine, treating muscle spasticity, managing over-reactive bladders, and treating hyperhidrosis, among others.

  • BOTOX® (onabotulinumtoxinA), an AbbVie product, was approved by the U.S. FDA in 2004 for the treatment of severe primary axillary hyperhidrosis.

Other than the U.S., at least 20 more countries have approved the use of Botox for treating hyperhidrosis.

Competitive Landscape

Strategies of gaining approvals from various regulatory authorities around the world and forming joint ventures for increasing their market presence are used by key botulinum toxin producers.

  • In August 2021, Merz Therapeutics announced that it had received approval from the Russian Federal Service for Surveillance in Healthcare for the use of Xeomin®, a neurotoxin (incobutlinumtoxinA) for the symptomatic treatment of chronic sialorrhea due to neurodevelopmental disorders in children between 2 to 17 years of age.
  • In January 2020, Dysport®, a novel botulinum type A toxin product of Ispen Pharma received a licence update from the U.K.’s Medicine and Healthcare Products Regulatory Agency (MHRA) for the symptomatic relief of focal spasticity of the upper limbs in paediatric patients suffering from cerebral palsy.
  • In March 2017, Medytox, a market leader of botulinum toxin production in South Korea, entered into a joint venture with Celeste (Co Ltd) from Thailand to form MedyCeles, in an effort to strengthen their business in South and East Asia.

Similarly, recent developments related to companies manufacturing botulinum toxin have been tracked by the team at Persistence Market Research, which are available in the full report.

Botulinum Toxin Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • South Africa

Key Market Segments Covered

  • Product
  • Application
  • End User
  • Region

Key Companies Profiled

  • Allergan PLC
  • Ipsen
  • Merz Pharma GmbH & Co. KGaA
  • Daewoong Pharmaceuticals
  • Medy-Tox
  • Hugel
  • U.S. WorldMeds
  • Hugh Source (International) Ltd.

Report Coverage

  • Market Forecasts
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Botulinum Toxin Industry Research

Botulinum Toxin Market by Product:

  • Type A Botulinum Toxin
  • Type B Botulinum Toxin

Botulinum Toxin Market by Application:

  • Cosmetics:
    • Crow’s Feet
    • Forehead Lines
    • Frown Lines/ Glabellar
    • Square Jaw/ Masseter
    • Others
  • Therapeutic:
    • Chronic Migraine
    • Muscle Spasm
    • Over Reactive Bladder
    • Hyperhidrosis
    • Others

Botulinum Toxin Market by End User:

  • Hospitals
  • Speciality Clinics
  • Spas & Beauty Clinics

Botulinum Toxin Market by Region:

  • North America Botulinum Toxin Market
  • Latin America Botulinum Toxin Market
  • Europe Botulinum Toxin Market
  • South Asia Botulinum Toxin Market
  • East Asia Botulinum Toxin Market
  • Oceania Botulinum Toxin Market
  • Middle East & Africa Botulinum Toxin Market

Media Release

- FAQs -

The global botulinum toxin market is currently valued at US$ 55 Bn.

Botulinum toxins sales are set to witness a high growth rate of 6.9% over the forecast period and be valued at US$ 10.7 Bn by 2031.

The market expanded at the rate of 8.2% from 2016 through 2020.

Increased frequency of approvals of botulinum toxins products around the world, rising usage of Botox products in emerging markets of Asia Pacific, and increasing use of botulinum toxin as a part of combination therapies along with other cosmetic procedures are key market trends.

Botulinum toxin type A is driving most demand in the global.

The U.S., Italy, Germany, Japan, and China are expected to drive most demand for botulinum toxin products around the world.

The North American market for botulinum toxin is one of the fastest-growing markets globally, wherein, the U.S. accounts for more than 95% of the regional market.

The European market for botulinum toxin is expected to record a CAGR of 6.7% over the forecast period.

The U.S., South Korea, Germany, France, Hong Kong, and Japan are key botulinum toxin product manufacturers.

China holds a share of 3% in the global market, whereas Japan accounts for 32.6% of the Asia Pacific market.

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