Botulinum Toxin Market by Product Type (Toxin Type A and Toxin Type B), by Application (Therapeutic and Aesthetic), by Gender (Male and Female), by Age Group (13–19, 20–29, 30–39, 40–54, and above), by End User (Hospitals, Dermatology Clinics, Spas & Cosmetic Centers) – Global Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Healthcare | Publish Date: 17-Oct-2023 | No of Pages: 428 | No. of Tables: 245 | No. of Figures: 212 | Format: PDF | Report Code : N/A
Market Overview
The global Botulinum Toxin Market size was valued at USD 6.6 billion in 2023, and is predicted to reach USD 11.68 billion by 2030, with a CAGR of 8.5% from 2024 to 2030. Botulinum toxin, commonly referred to as Botox, is a neurotoxic protein created by the bacterium clostridium botulinum. It is used for various medical and cosmetic purposes. When injected in small and controlled amounts, it temporarily paralyzes or relaxes muscles, making it valuable for treating muscle-related disorders, reducing wrinkles, and addressing other health and aesthetic concerns.
The mechanism of botulinum toxin involves inhibiting the release of specific chemical signals responsible for muscle contractions. This leads to muscle relaxation, resulting in a variety of therapeutic and cosmetic benefits.
Botulinum toxin treatments have gained widespread popularity due to their non-invasive nature and efficacy. While it possesses remarkable capabilities, it must be administered by medical professionals with expertise to ensure safety and effectiveness. This factor makes it a critical tool in medical and aesthetic practices.
The Growing Cosmetic and Beauty Industry Boosts the Botulinum Toxin Market
The expansion of the cosmetic and beauty industry with the rising demand for aesthetics and cosmetic procedures is significantly fueling the botulinum toxin market growth. According to the latest survey by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2023, there was an overall increase of 11.2% in procedures conducted by plastic surgeons in 2022. These procedures included more than 14.9 million surgical and 18.8 million non-surgical treatments performed globally. The expanding cosmetic industry is fueling the demand for these procedures, consequently driving growth in the botulinum toxin market.
The Surge in Product Approvals From Various Regulatory Bodies Drives the Market
The continuous stream of product approvals from various regulatory bodies drives the botulinum toxin market. These approvals provide a green light for manufacturers to introduce new and improved botulinum toxin-based products to the market.
For instance, in August 2023, the U.S. FDA approved the first therapeutic indication of Revance's DAXXIFY (DaxibotulinumtoxinA for Injection), specifically for the treatment of cervical dystonia. This approval of DAXXIFY for cervical dystonia marks a significant milestone in expanding its applications beyond the cosmetic use. Thus, such endorsement from regulatory authorities enhances the overall credibility of aesthetic treatments, encouraging widespread adoption and contributing to the market's expansion.
The Rising Prevalence of Minimally Invasive Surgeries Propels the Botulinum Toxin Market Growth
The rising preference for minimally invasive procedures, such as botulinum toxin injections, further fuels the botulinum toxin market. Patients increasingly opt for treatments that involve lesser risk, shorter recovery times, and fewer complications than traditional surgical procedures.
According to the latest survey by the International Society of Aesthetic Plastic Surgery (ISAPS), as of 2023, surgical procedures have grown by 16.7%, while non-surgical procedures have increased by 7.2%. Notably, a substantial surge of 57.8% in non-surgical procedures has occurred over the past four years. This trend is driven by a desire for safer and less invasive alternatives to address cosmetic concerns and medical conditions.
As a result, the botulinum toxin market is expanding, as it offers patients effective results with minimal disruption to their daily lives and overall well-being, aligning with the modern preference for convenience and reduced medical intervention.
The Adverse Effects of Botulinum Toxin Procedures Restrain the Market Growth
The botulinum toxin market faces limitations due to the potential adverse effects of these procedures. These effects can encompass skin reactions such as rashes, allergic responses, challenges in swallowing, and neck discomfort. These concerns among patients might hinder the market growth as safety and well-being are paramount in the healthcare industry. Market players must address these issues through research and development to ensure the continued acceptance and expansion of botulinum toxin applications in therapeutic and aesthetic treatments.
The Development of Innovative Botulinum Toxin Products Creates Opportunities For The Market
The introduction of new botulinum toxins, such as the DaxibotulinumtoxinA for Injection and Jeuveau, is poised to open significant growth avenues for the market. These innovative products bring advanced formulations and improved performance to the table, catering to the evolving needs of both medical and cosmetic applications.
They offer enhanced precision, longer-lasting effects, and reduced side effects, making them attractive options for healthcare providers and patients. This expansion of product offerings is expected to drive the market growth as it meets the increasing demand for safer and more effective botulinum toxin treatments in various therapeutic and aesthetic procedures.
North America Dominates the Botulinum Toxin Market
The botulinum toxin market in North America is experiencing significant growth, due to the rising demand for aesthetic plastic surgeries in countries such as the U.S. and Brazil. According to the International Society of Aesthetic Plastic Surgery latest report, the U.S. leads globally with over 7.4 million procedures, representing 22% of the total procedures.
Brazil follows closely with 8.9%, primarily excelling in surgical procedures. Japan accounts for 7.3%. Regarding the number of plastic surgeons, the U.S. and Brazil are estimated to have the highest numbers, with Asian countries such as Japan, China, and South Korea following closely behind in third, fourth, and fifth place, respectively.
Also, the increased research and development efforts by regional players in North America are fuelling growth in the botulinum toxin market in the region. For instance, in September 2023, Allergan Aesthetics, a subsidiary of AbbVie, announced positive topline results from a second Phase 3 study for OnabotulinumtoxinA, commonly known as Botox Cosmetic.
The study focused on its effectiveness in treating platysma prominence, a condition characterized by visible vertical bands in the neck. This development showcases the ongoing innovations in the botulinum toxin market, highlighting new potential applications for Botox Cosmetic beyond its well-known uses in aesthetics.
Asia-Pacific is Expected to Show Steady Growth in the Botulinum Toxin Market
Asia-Pacific is expected to witness an increased demand for botulinum toxin in the coming years. This demand is driven by factors such as the rising medical tourism in the region and the increasing popularity of cosmetic surgeries due to the combination of affordable and top-quality healthcare services.
According to the International Society of Aesthetic Plastic Surgery (ISAPS), India registered 404,016 non-surgical cosmetic procedures, with 99,384 of these being botulinum toxin procedures in 2021. This trend has significantly boosted the market for botulinum toxin-based treatments in the region.
In addition, the increasing aging population in countries such as Japan and China is significantly accelerating the botulinum toxin market. According to the Economic and Social Commission for Asia and the Pacific, the number of older people is projected to more than double, from 630 million in 2020 to about 1.3 billion by 2050. With the increasing number of elderly individuals, there is a rising demand for healthcare and cosmetic procedures tailored to age-related needs.
Botulinum toxin procedures, known for their effectiveness in reducing wrinkles and fine lines, are particularly sought after by the elderly population looking to maintain a youthful appearance. As a result, the market for botulinum toxin products and treatments is experiencing significant growth in this region.
Competitive Landscape
Several market players operating in the botulinum toxin market include Allergan, Inc., Merz Pharma GmbH & Co. KGaA, Ipsen Group, Revance Therapeutics, Inc., Medy-Tox, Inc., Hugel, Inc., Galderma, Us Worldmed, Llc, Evolus, Inc., Daewoong Pharmaceutical, and others. These market players are adopting product launches, business expansion, and innovation strategies across various regions to maintain dominance in the botulinum toxin market.
For instance, in June 2023, Evolus, Inc. launched Nuceiva, a botulinum toxin type A product, in the Italian market. Nuceiva is designed for various aesthetic treatments, and its launch in Italy expands its availability. It offers new options for medical professionals and patients seeking cosmetic enhancements. This expansion signifies Evolus, Inc.'s commitment to providing innovative solutions in the field of botulinum toxin products.
Moreover, in May 2023, Daewoong Pharmaceutical, a South Korean pharmaceutical company, invested USD 746 billion to expand its production capacity for Botox, a brand of botulinum toxin. This significant investment aims to meet the growing global demand for cosmetic and therapeutic uses of Botox. Daewoong's expansion reflects the rising interest in botulinum toxin products and their applications, indicating a positive trend in the market's growth and development.
Furthermore, in June 2022, Galderma announced positive results from two Phase III studies for a novel liquid formulation, indicating a promising advancement in botulinum toxin-based treatments. This innovation showcases Galderma's commitment to enhancing patient experiences and expanding the applications of botulinum toxin-based treatments.
BOTULINUM TOXIN MARKET KEY SEGMENTS
By Product Type
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Toxin Type A
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Toxin Type B
By Application
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Therapeutic
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Aesthetic
By Gender
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Male
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Female
By Age Group
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13–19
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20–29
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30–39
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40–54
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Above
By End User
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Hospitals
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Dermatology Clinics
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Spas & Cosmetic Centres
By Region
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North America
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The U.S.
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Canada
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Mexico
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-
Europe
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The U.K.
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
-
-
Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia-Pacific
-
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Rest of the World (RoW)
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Latin America
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Middle East
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Africa
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REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 6.6 Billion |
|
Revenue Forecast in 2030 |
USD 11.68 Billion |
|
Growth Rate |
CAGR of 8.5% from 2023 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
Surge in product approvals from various regulatory bodies The rising prevalence of minimally invasive surgeries |
|
Countries Covered |
28 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Allergan, Inc.
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Merz Pharma GmbH & Co. KGaA
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Ipsen Group
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Revance Therapeutics, Inc.
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Medy-Tox, Inc.
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Hugel, Inc.
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Galderma
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Us Worldmed, Llc,
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Evolus, Inc.
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Daewoong Pharmaceutical
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