Botulinum Toxin Market Research Report Information By Product (Botulinum Toxin A and Botulinum Toxin B), By Application (Medical and Aesthetic), By Gender (Female and Male), By Age Group (13-19, 20-29, 30-39, 40-54, and 55 & Above), By End User (Hospitals, Dermatology Clinics, and Spas & Cosmetic Centers), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030

Global Botulinum Toxin Market Research (MRFR Insights)

The botulinum toxin market size is projected to reach USD 6.5 billion by 2030, at a CAGR of 11.80% from 2022 to 2030. The factor that drives the market of botulinum toxin is the rising demand for minimally invasive or non-invasive surgeries in cosmetology, along with the increasing applications in cosmetics surgeries and growing R&D initiatives. Furthermore, with the growing cases of cluster headaches and stress-triggered migraine, botulinum toxin injection techniques and botox treatment growth have significantly impacted botulinum toxin injection techniques.

COVID-19 Impact Analysis

The emergence of the COVID-19 pandemic has negatively impacted the  market. Several non-emergency surgical and treatment producers and non-invasive procedures were postponed due to the growing number of COVID-19 cases in 2020. These surgeries fall under elective surgical procedures and are not considered essential lifesaving surgeries. For instance, according to the data issued by the America Society of Plastic Surgeons report, about a 13% drop was observed in botulinum toxin procedures in 2020. As a result of procedural deferral, several companies witnessed a drop in the sales of botulinum products in 2020, thereby negatively impacting the market growth.

Botulinum Toxin Market Dynamics

The market trends include increased demand for cosmetic non-invasive surgical procedures, new product establishments, growing affordability, and amendments in reimbursement policies to protect the market. Major players in this market are concentrating on continuous innovation and boosting their product portfolio for better aesthetics and enhanced patient therapeutic outcomes. For instance, in February 2021, AbbVie received FDA approval for Botox to treat detrusor overactivity related to a neurological condition in certain pediatric patients of 5 years and older.

Market Drivers

• The surge in demand for minimally invasive cosmetic procedures

The surge in demand for minimally invasive cosmetic procedures significantly impacted the suppliers of dermatological practices and other non-invasive technologies. Several pharmaceutical companies involved in this field are increasingly manufacturing products to meet the growing demand for these products. For instance, in June 2019, Huon's, a South Korean company, launched a botulinum neurotoxin brand named 'Liztox' in the Korean market to treat glabellar lines. It is useful in both moderate and extreme glabellar wrinkles.

• Growing demand for non-invasive surgeries

• increasing cases of cervical dystonia

Market Restraints:

• High cost and relative side effects of botulinum toxin treatment

Despite several therapeutic and aesthetic applications, different side effects of these products are projected to hinder the market size during the botulinum toxin market forecast period. The possible botulinum toxin symptoms include swelling, pain, or bruising at the injection site, headache-like symptoms, cockeyed eyebrows or droopy eyelids, crooked smile or drooling, and eye dryness or excessive tearing. Further, the high price of these products is one of the key restraints to the declining market growth of botulinum toxin.

• Side effects related to the use of botulinum toxin

Market Opportunities:

• Increasing R&D initiatives and the growing number of therapeutic and aesthetic indications

Botox has various therapeutic and aesthetic indications, and this dual applicability in terms of indications is expected to drive botulinum toxin market growth. Its application in treating various critical and chronic diseases, such as spasticity, migraine, and cervical dystonia, is anticipated to contribute to positive market growth. In terms of therapeutics, this toxin is expected to have hundreds of potential indications, and presently, more than 100 therapeutic utilizes of these toxins are reimbursed by healthcare providers. With the growing therapeutic applications, key market players invest heavily in their research and development for product establishment. This is predicted to provide huge opportunities for market growth during the forecast period.

• Adoption of inorganic growth strategies by key players

Botulinum Toxin Market Segmentation

Application Insights

The market segment of Botulinum Toxin, based on application, is divided into medical and aesthetic. The medical category dominated the market in 2021 as botox procedures were adopted for several therapeutic and preventive treatments for disorders and conditions such as hyperhidrosis and over-reactive bladders. However, the aesthetic segment is the fastest-growing category due to rising consciousness regarding aesthetic appearance, and growing technological advancements in developed and developing countries have led to an increase in the number of cosmetic surgeries.

Product insights

The market segment of botulinum toxin, based on the product, is divided into botulinum toxin A and botulinum toxin B. The botulinum toxin-A category had a prominent share in 2021 due to a rise in customer preference owing to various advantages such as minimal pain, no blood loss, and no scarring during the procedure. However, botulinum toxin B is the fastest-growing category due to the expansion of the therapeutic indication of chronic sialorrhea, possible approval of the product in merging regions, and increasing research and development to study other possible therapeutic usages of the Myobloc.

Gender Insights

Based on gender, the botulinum toxin market is divided into females and males. The female category dominated the market share in 2021. This is due to the rising trends in females for skin rejuvenation in middle age and the increasing number of aesthetic surgeries. Moreover, the male category is the fastest-growing segment due to the increased demand for botulinum toxin injections in men to reduce facial wrinkles.

Age Group Insights

By age group, the market has been segmented into 13-19, 20-29, 30-39, 40-54, and 55 & above. In 2021 the 40-54 years category had a major share in the market, owing to the increasing application of botulinum toxin types to decrease signs of aging has increased the adoption rate of botulinum toxin in this segment. However, 55 & above are the fastest-growing category due to women's increasing emphasis on medical aesthetic features, especially in developed countries.

End-User Insights

By end-user, the market has been segmented into hospitals, dermatology clinics, and spas & cosmetic centers. In 2021, the hospital category held a major market share due to the rising number of hospitals with advanced care and facilities in developed and developing countries. Increasing awareness regarding aesthetic procedures performed is contributing to the segment growth. However, spas and cosmetic centers are the fastest-growing category due to the increased preference for aesthetic procedures in spas & cosmetic centers and dermatology clinics.

Botulinum Toxin Market Overview, by Region

By region, the market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Europe is projected to exhibit the highest CAGR during the review period.

North America

As per the market report of botulinum toxin, North America held the largest share of the market in 2021 due to the highly aware and economically stable population and a comparatively higher number of operations performed in the region. For instance, in 2019, according to the International Society of Aesthetic Plastic Surgery data, approximately 1.3 million procedures were performed in the US. An increasing number of non-invasive cosmetic procedures and new product approvals for wide therapeutic indications are poised to drive the market growth of botulinum toxin during the forecast period.

Europe

Europe is the fastest-growing region due to the growing preference among individuals for undergoing botox surgeries in European countries and growing expenditure on research and development in Europe. For instance, as per the study conducted in the UK, women who rated their life satisfaction, self-esteem, and attractiveness as low, had few religious beliefs and high media exposure were more likely to undergo botox surgery.

Botulinum Toxin Market Competitive Landscape

The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have  reach with diverse product portfolios. Companies such as AbbVie Inc, Eisai Co., Ltd., Evolus Inc, Galderma, Hugel, Inc., and Hugh Source International Ltd dominate the  market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The market players are concentrating on supporting the research and development of botulinum toxin. Furthermore, they embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base. For instance, in November 2021, Evolus Inc announced that it had initiated a clinical program to study an extra strength dose for an extended duration of Jeuveau products utilized for treating wrinkles. This is anticipated to allow the company to enhance its product application for various medical conditions.

Prominent players in the market include Ipsen, Medytox, Inc., Merz Pharma, Revance Therapeutics, Bio-Med Private Limited., Allergan PLC, and Daewoong Pharmaceuticals, among others.

Scope of the Botulinum Toxin Market Report

Product Outlook

• Botulinum Toxin A


• Botulinum Toxin B

Application Outlook

• Medical


• Aesthetic

Gender outlook

• Female


• Male

Age Group Outlook

• 13-19


• 20-29


• 30-39


• 40-54


• 55 & Above

End-User Outlook

• Hospitals


• Dermatology Clinics


• Spas & Cosmetic Centers

Region Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

Botulinum Toxin Market Forecast & Size:

To identify and estimate the market size of botulinum toxin segmented by product, application, gender, age group, and end-user by value (in US dollars). Also, to understand the consumption/ demand created by consumers of botulinum toxin between 2022 and 2030

Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges for the market

Market Influencing Factors:

To find out the factors which are affecting the sales of botulinum toxin among consumers

Impact of COVID-19:

To identify and understand the various factors involved in the market affected by the pandemic

Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Spas & Beauty Clinics


• Pharmaceutical Industries


• Dermatology Clinics


• Biotechnology Industries