The Global Botulinum Toxin Market Size to observe an effective growth due to factors such as its rising application in various cosmetic surgeries and various therapeutic application.
Botulinum toxin (BTX), is produced from the bacteria known as clostridium botulinum and its relative species. BTX is a neurotoxic protein, that prevents the release of the neurotransmitter acetylcholine which causes flaccid paralysis. Botulinum toxin is majorly used for cosmetic application which enhances the facial appearance and reducing the signs of aging. This reduces the frown lines, and crow’s feet line.
Botulinum toxin is also used in treating various medical problems like Muscle spasticity, Migraine, and hyper active nerves disorders that lead to excessive sweating, some allergy symptoms, and some chronic pains. Despite of various application and effective results, botulinum toxins have chronic side effects such as; arrhythmia, heart attack, heart arrest and so on. Hence, considering this side effects the U.S. FDA in 2008 specified the guidelines for the use of Botulinum toxin for various cosmetic purposes.
The botulinum toxin market share is primarily driven by the factors such as growing demand for the cosmetic surgeries to make women look appealing and increasing awareness for the use of BTX for various therapeutic applications. Additionally, the increasing investment on R&D for BTX novel therapeutic application and rising awareness for the use of Botox and Dysport in the developing countries is expected to influence the growth of botulinum toxin market. Likewise, rising use of Xeomin for treating cervical dystonia and blepharspam in some of the leading countries would also spur the market of BTX in the near future.
Similarly, secondary factors such as rising prevalence of geriatric population globally, increasing incidences of cosmetic surgeries, and growing awareness for this BTX in the developing countries will push the market positively in the coming years.
However, high cost of botulinum toxin and lack of availability of the drug would hinder the growth of botulinum toxin market share during the forecast period. Similarly, the severe side effects caused by the use of botulinum toxin might also hamper the market growth.
The botulinum toxin market is segmented on the basis of product, application and geography.
On the basis of product type, the global botulinum toxin market is segmented as:
On the basis of application type, the global botulinum toxin market is segmented as:
Regionally, North America is expected to dominate the global botulinum toxin market size over the forecast period and would continue the same in the future. The growth of North America’s botulinum toxin market is majorly driven by the growing disposable income of the population, increasing health expenditure, and increased number of cosmetic surgeries in this region. Also, rising number demand for botulinum in North America would also spur this market during the forecast period.
Europe is observed to hold the second largest share in the botulinum toxin market due to the increased awareness for cosmetic surgeries supported by large number of cosmetology clinics, and rising number of geriatric population in Europe.
However, Asia Pacific market is expected to witness fastest growth during the forecast period. Increasing number of geriatric population, and increasing awareness for the use of botulinum toxin are the major factors that anticipate to govern the botulinum toxin market during upcoming years.
Key players in the global botulinum toxin market are: