NEW YORK, Nov. 12, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, The botulinum toxin market is expected to reach a value of US$ 19.03 billion by 2031 from US$ 7.38 billion in 2023 at a CAGR of 12.6%.
The global botulinum toxin market is growing significantly with the increasing use of botulinum toxin in facial aesthetics enhancement procedures. The botulinum toxin market is segmented on the basis of product, application, and end user. The report runs an in-depth analysis of market trends, key players, and future opportunities.
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Regional analysis -
- The North America botulinum toxin market was valued at US$ 4,801.29 million in 2023 and is expected to reach US$ 12,072.60 million by 2031; it is estimated to register a CAGR of 12.2% from 2023 to 2031.
- The Europe botulinum toxin market was valued at US$ 1,174.94 million in 2023 and is expected to reach US$ 2,931.74 million by 2031; it is estimated to register a CAGR of 12.1% from 2023 to 2031.
- The Asia Pacific botulinum toxin market was valued at US$ 925.29 million in 2023 and is expected to reach US$ 2,743.18 million by 2031; it is estimated to register a CAGR of 14.6% from 2023 to 2031.
Overview of Report Findings
- Market Growth: Botulinum toxin A injections are used as minimally invasive and promising treatment options for muscle spasms, cosmetic imperfections, and other conditions. This type is also used in treating incontinence, migraine, hyperhidrosis, and blepharospasm. Its cosmetic applications include the reduction of wrinkles and fine lines on the face, especially wrinkles on the upper face, including the side corners of the eyes, forehead, and glabellar lines. Botulinum toxin B is a purified form that is only indicated for treating cervical dystonia (torticollis) and sialorrhea in adults.
- Increasing Use of Botulinum Toxin for Enhancing Facial Aesthetics: Cosmetic surgery and injectable botulinum toxin are among the most popular noninvasive rejuvenation procedures. According to the International Society of Aesthetic Plastic Surgery (ISAPS), in 2023, the botulinum toxin treatment was the leading noninvasive cosmetic procedure performed worldwide. Botulinum toxin type A-based (BoNTA) cosmetic facial treatments are performed to improve the aesthetics of the upper and lower face. In the last decade, a facial rejuvenation procedure has gained significant popularity over different types of traditional surgeries. According to the ISAPS, ~8.88 million botulinum toxin procedures were performed globally in 2023.
- Rising Popularity of Noninvasive Aesthetics Procedures: Noninvasive procedures include facial rejuvenation with botulinum toxin, calcium hydroxylapatite, and hyaluronic acid injections, among others. Chemical peels, laser skin resurfacing, soft tissue fillers, and Botox are among the most common nonsurgical face procedures. Unlike surgical procedures that are associated with more evident risks, minimally invasive procedures benefit patients through faster recovery, lesser scarring, limited stress, and better patient satisfaction. Moreover, changing consumer perceptions about wellness, beauty, and good aging result in a better understanding and acceptance of aesthetics worldwide.
- Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC, respectively. Asia Pacific is expected to register the highest CAGR in the botulinum toxin market during the forecast period.
Read full market research report, "Botulinum Toxin Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Botulinum Toxin A and Botulinum Toxin B), Application (Medical and Aesthetic), End User (Specialty and Dermatology Clinics, Hospitals and Clinics, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)", published by The Insight Partners.
Market Segmentation
- The botulinum toxin market, by product, is segmented into botulinum toxin A and botulinum toxin B. The botulinum toxin A segment held a larger market share in 2023.
- By application, the botulinum toxin market is categorized into medical and aesthetic. The medical segment held a larger market share in 2023.
- In terms of end user, the botulinum toxin market is segmented into specialty and dermatology clinics, hospitals and clinics, and others. The specialty and dermatology clinics segment held the largest market share in 2023.
- The botulinum toxin market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
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Competitive Strategy and Development
- Key Players: A few major companies operating in the botulinum toxin market are AbbVie Inc, Merz Pharma, Medytox, Ipsen Pharma, Galderma, Revance Therapeutics Inc, Lanzhou Institute of Biological Products Co Ltd, Evolus Inc, Hugel Inc, and Aquavit.
- Trending Topics: Aesthetic Procedures, At-Home Aesthetic Treatments, Noninvasive Aesthetic Procedures, and Aesthetic Medical Devices
Global Headlines on Botulinum Toxin Market
- Hugel Receives FDA Approval for Letybo (Letibotulinumtoxin A-wlbg) Injection for Treatment of Glabellar Lines in US
- Gufic Biosciences Launches Zarbot Botulinum Toxin Type A Injection
- Allergan Aesthetics Launches BOTOX Cosmetic (Onabotulinumtoxin A) for Adults Experiencing Masseter Muscle Prominence (MMP) in China
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Conclusion
The botulinum toxin market is expected to witness significant growth with the rising popularity of noninvasive aesthetics procedures; increasing use of botulinum toxin in facial aesthetics enhancing procedures; and burgeoning demand for aesthetic as well as therapeutic procedures for wrinkle reduction, chronic migraines treatment, and muscle spasm treatment. The expansion of therapeutic applications of botulinum toxin is likely prevail as a key trend in the market during the forecast period. Other factors that are expected to favor the growth of the botulinum toxin market in the future include the soaring popularity of social media platforms that are creating awareness of cosmetic procedures, as well as about new formulations and innovations in delivery methods.
The report from The Insight Partners lists several stakeholders-including Manufacturers, Healthcare Providers, Distributors and Suppliers, and Regulatory Bodies-along with valuable insights on how to successfully navigate this evolving market landscape and unlock new opportunities.
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