May 18, 2024

The Global Botulinum Toxin Market is estimated to driven by rising aesthetic procedures

Botulinum toxin is a neurotoxic protein produced by the bacterium Clostridium botulinum and Clostridium butyricum. It is commonly used to treat muscular spasms and certain cosmetic issues. The toxin is injected into the facial muscles where it blocks nerve impulses, relaxing wrinkle-causing muscles under the skin. This temporarily reduces the appearance of moderate to severe frown lines, crow’s feet and forehead lines. Growing consumer preference for non-invasive cosmetic procedures is driving the demand for botulinum toxin.

The global botulinum toxin market is estimated to be valued at US$ 7.61 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trend witnessed in the market is growing preference for non-surgical aesthetic procedures. More people are opting for minimally invasive treatments like wrinkle relaxers, dermal fillers and skin rejuvenation treatments. Botulinum toxin injections are a popular non-invasive option for reducing smile lines, forehead wrinkles and crow’s feet. With rising disposable incomes and increasing focus on physical appearance, the demand for non-surgical aesthetic procedures is growing globally. This rising preference for non-invasive aesthetic treatments is expected to drive the growth of botulinum toxin market during the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the botulinum toxin market is low. High capital requirements and established brand loyalty towards existing brands pose challenges for new companies.
Bargaining power of buyers: The bargaining power of buyers in the botulinum toxin market is moderate. The presence of substitutes and established providers allows buyers to negotiate on price.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as well. Suppliers of active pharmaceutical ingredients and contract manufacturing organizations have limited control over pricing.
Threat of new substitutes: The threat of new substitutes is moderate. New innovations and substitute procedures in therapeutics pose a threat. However, botulinum toxin still remains the gold standard treatment.
Competitive rivalry: The competitive rivalry in the botulinum toxin market is high among the major players. Companies compete based on product differentiation, pricing strategies and marketing initiatives.

Key Takeaways

The global botulinum toxin market is expected to witness high growth over the forecast period of 2023-2030. The global botulinum toxin market is estimated to be valued at US$ 7.61 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.

North America is projected to retain its leading position in the botulinum toxin market during the forecast period. This can be attributed to growing awareness regarding aesthetics procedures and availability of advanced healthcare facilities. Europe and Asia Pacific are also lucrative markets and are expected to grow at a steady rate over the next few years.

Key players: Key players operating in the botulinum toxin market are Ipsen group, Allergan Plc., Medytox Inc., Merz GmbH and Co. KGaA, US Worldmed, LLC, Lanzhou Institute of Biological Products Co. Ltd., Revance Therapeutics, Inc., and Daewoong Pharmaceutical Co., Ltd. Companies are focusing on expanding their product portfolios and strengthening geographical presence through collaborations.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it

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