|Worldwide Botulinum Toxin Industry to 2030 - Players Include Abbvie, Evolus and Galderma Among Others|
|By: PR Newswire Association LLC. - 25 Nov 2021||Back to overview list
DUBLIN, Nov. 25, 2021 /PRNewswire/ -- The "Botulinum Toxin Market by Product Type by Application, by Gender, by Age Group by End-user Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
Botulinum toxin is a type of neurotoxin produced by the bacterium clostridium botulinum. Clostridium botulinum is a gram-positive anaerobic, spore-forming rod bacterium that is usually discovered in soil, water, plants, and the intestines of animals. Botulinum toxin has seven distinctive antigenic forms, namely, botulinum toxin A, B, C, D, E, F, and G. This neurotoxin plays a vital role in managing a wide category of medical disorders.
Some of these include hemifacial spasms, strabismus, focal dystonia, spastic movement disorders, hypersalivation, hyperhidrosis, and headaches. Additionally, it is used in the management of several chronic disorders that respond moderately to accessible therapeutic procedures. Currently, botulinum toxin also finds its usage in cosmetic applications by momentarily lessening creases, frown lines, and wrinkles, majorly on the face, chin, neck, and chest area.
A substantial increase in the incidences and diagnosis of several acute and chronic diseases is one of the major factors driving the growth of the market. Furthermore, the botulinum toxin market growth is significantly driven by the increasing usage of botulinum toxin in treating numerous dermatological conditions, such as hyperhidrosis, abnormal activity of glands, overactive smooth muscles, and several aesthetic treatments including diminishing wrinkles and creases on the face. This upsurge in aesthetic consciousness among the population, coupled with the increase in the availability of minimally invasive procedures, is further supplementing the market growth.
In addition, along with medical tourism, the past few years had witnessed a rise in cosmetic tourism owing to rapid urbanization and growing influence on social media. Likewise, an upsurge in the geriatric population across the world and the desire to stay younger & have healthy skin is expected to influence the market growth positively. Moreover, the rising number of people opting for cosmetic procedures is directly boosting the botulinum toxin market growth. For instance, according to a report published by the International Society of aesthetic plastic surgery, in 2019, approximately 6,271,488 botulinum toxin procedures were performed worldwide. This accounts for nearly 46.1% of the overall non-invasive procedures performed in cosmetic applications.
Furthermore, the report also stated that botulinum toxin was the top non-surgical procedure in the year 2019 which was performed among women. Additionally, around 8,41,735 men opted for botulinum toxin treatment in the same year. The market is also projected to grow over the forecast period on account of improved quality services and the increased availability of highly professional medical surgeons. Similarly, the introduction of cost-effective aesthetic solutions by major market players concerning the aging population along with technological advancements in the fields of cosmetology is estimated to impel the market growth over the analysis period.
The major players operating in the botulinum toxin market include AbbVie Inc. (Allergan), Eisai Co., Ltd., Evolus Inc., Galderma, Hugel, Inc., Ipsen Pharma, Medytox., Merz Pharma GmbH & Co. KGaA., Revance Therapeutics Inc. and US WorldMeds LLC.
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SOURCE Research and Markets
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