Market Research Report
Botulinum Toxin Market Size By Product, By Application, By Gender, By Age, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||950613|
|Published||Content info||169 Pages
Delivery time: 2-3 business days
|Botulinum Toxin Market Size By Product, By Application, By Gender, By Age, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026|
|Published: July 15, 2020||Content info: 169 Pages||
Botulinum Toxin Market Size By Product (Botulinum Toxin A, Botulinum Toxin B), By Application (Medical, Aesthetic), By Gender (Female, Male), By Age (13-19, 20-29, 30-39, 40-54, 55 and Above), By End-use (Hospitals, Dermatology Clinics, Spas & Cosmetic Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026.
The botulinum toxin market will observe substantial growth in coming years owing to the ongoing introduction of innovative products as well as increasing demand from cosmetic and clinical applications. Botulinum toxin is a muscle relaxant medicine that is commonly recognized by one of its trademarked brand names that is BOTOX®. The drug is usually made from a toxin which is produced by a bacteria called Clostridium botulinum.
Doctors utilize it in small dosages for the treatment of health issues which range from chronic migraine; and overactive bladder; to Blepharospasm, which is a disorder that causes uncontrollable blinking; Strabismus, also known as misaligned eyes; and Cervical dystonia, a neurological disorder that causes severe neck and shoulder muscle contractions. It is more commonly used in cosmetic procedures to temporary smoothing of facial wrinkles, enhancing the appearance of an individual; and treat severe underarm sweating issues.
Botulinum toxin market is segmented in terms of product, application, age group, gender, end-use, and regional landscape.
Based on product, the overall market is divided into botulinum toxin A and botulinum toxin B. Botulinum toxin B segment is projected to expand at over 6.4% CAGR over the forecast timeframe.
With respect to application, the botulinum toxin market is classified into aesthetic and medical. Medical segment accounted for a revenue of approximately $2.8 billion owing to the material's use in the treatment of a plethora of medical ailments. In fact, the product is widely utilized by many physicians for the treatment a wide range of physiological medical conditions that involve various parts of the human body.
For instance, BTX injections are used to treat conditions like hyperhidrosis, myofascial pain syndrome, allergic rhinitis, migraine, lichen simplex chronicus, and have shown improvements in symptoms of myofascial pain syndrome.
Based on age group, the botulinum toxin market is categorized into 55 and above, 40-54, 30-39, 20-29, and 13-19. Among these, the 13-19 years of age group will reach a valuation of $38.2 million by the end of the analysis timeframe.
With respect to gender, the botulinum toxin market is classified into male and female. Male segment will witness growth of about 10.2% by the end of the analysis period. It is noted that men in the U.S. get nearly half a million botulinum toxin injections each year. The number of men undergoing cosmetic procedures is gradually increasing. Botox as well as other botulinum toxin injections such as Xeomin and Dysport are some of the most popular anti-aging methods used for men.
In terms of end-use, the overall botulinum toxin market is bifurcated into spas & cosmetic centers, dermatology clinics, and hospitals. Dermatology clinics accounted for revenue of about $2.3 billion in 2019 and would continue to register substantial growth. The use of botulinum toxin therapy is done by dermatologists to lessen the signs of aging as well as treatment of medical condition known as hyperhidrosis. This therapy is approved by the United States FDA for the treatment of crow's feet, excessive sweating, and frown lines between eyebrows.
On the geographical front, Latin America botulinum toxin market was valued at approximately $210 million in 2019. In fact, Brazil is one of the world's leading beauty market with more than 7 million Botox session conducted in the country in 2015 alone, according to the International Aesthetics Plastic Surgery Society.
In 2019, MEA botulinum toxin market was valued at more than $155 million. The regional market is further projected to expand at a CAGR of over 9.8% over the forecast timeframe.