|10-08-2018 12:01 PM CET - Health & Medicine||
Botulinum Toxin Market to Register Strong Growth at CAGR 7.80% by 2023 | Global Key Players – Allergan Inc, and Merz Pharma GmbH & Co. KGaA
Press release from: Crystal Market Research
PR Agency: Crystal Market Research
The global Botulinum Toxin Market was worth USD 3.21 billion in 2014 and is expected to reach approximately USD 6.31 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 7.80% during the forecast period. Developing populace aged between 25 to 65 years and expanding demand for minimally invasive or non-invasive methods are the prime variables filling the development of the worldwide market. BNT is a neurotoxin and has seven distinctive antigenic structures in particular BNT - A, B, C, D, E, F and G which are created by an anaerobic bacterium, Clostridium botulinum. BNT is generally utilized for the stylish purposes. Currently, a couple of products of BNT – A and the only product of BNT - B are monetarily accessible in the market. Nonetheless, substantial speculation on R&D ventures to build up the therapeutic usage of botulinum toxin is making opportunities for the extension of its application zone on the following years.
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The leading players in the market are Ipsen, Allergan Inc, and Merz Pharma GmbH & Co. KGaA. These organizations possess a solid position in the global market mainly owing to strong brand identity and their commercial availability globally.
Product Outlook and Trend Analysis:
The BNTA section is driving the worldwide market with the biggest share in 2015. This portion is foreseen to keep up its strength all through the estimate time frame. Different results of BNTA are monetarily accessible in the market which incorporates driving brands, for example, Dysport and Botox. Botox has aesthetic use in direct and serious glabellar lines expulsion and therapeutic application in treating extreme essential axillary hyperidrosis, cervical dystonia and blepharospasm.
Application Outlook and Trend Analysis:
Botulinum toxin is essentially used for cosmetic (tasteful) application in enhancing the facial appearance and decreasing indications of aging. It is used for treating crow’s feet lines, frown lines, and glabellar lines. Therefore, the aesthetic portion caught the biggest share of the market in 2015.
Regional Outlook and Trend Analysis:
North America ruled the market by catching the biggest income share in 2015. Higher discretionary income and accessibility of an assortment of aesthetic procedures for improving outside appearance is driving the interest for botulinum poison in North America. Asia Pacific is foreseen to reflect the most astounding development sooner rather than later because of maturing socioeconomics and rising extra cash bringing about higher interest for hostile to anti-aging products.
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Table of Contents:
1.1. Report Description
1.2. Research Methodology
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
22.214.171.124. Rising Demand for Minimally Invasive Treatment
126.96.36.199. Expanding Therapeutic Use of Botulinum toxin
188.8.131.52. Limited Reimbursement Coverage
184.108.40.206. Misuse as Bioterrorism
220.127.116.11. Emerging Markets to Offer Lucrative Growth Opportunities
...CONTINUED FOR TOC
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Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
About Crystal Market Research:
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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