Press release
Botulinum Toxin Market To Grow in the Coming Years, New Research explores Factors Responsible | Global Players Include Ipsen group, Allergan Plc., Medytox Inc., Merz GmbH and Co. KGaA, US Worldmed, LLC, Revance Therapeutics, Inc.
Global Botulinum Toxin Market
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Botulinum Toxin Market: Drivers
Frequent approvals of novel botulinum toxin products for different indications are expected to drive growth of the Botulinum toxin market in near future. For instance, in 2016, Ipsen S.A. received the U.S. Food and Drug Administration (FDA) approval for its Dysport (abobotulinumtoxinA) injection indicated for the treatment of pediatric lower limb (PLL) spasticity in children of age two years and older. In 2017, company received the FDA approval for same product to use in adults. In 2017, Allergan plc. received FDA approval for BOTOX Cosmetic (OnabotulinumtoxinA) for new indication in forehead lines, and previously the product has been approved for the treatment of , crow's feet lines, and glabellar lines. With this approval company has expanded the indication of its product in the temporary improvement in the appearance of moderate to severe forehead lines associated with frontalis muscle activity in adults.
Botulinum Toxin Market: Regional analysis
North America is expected to hold a dominant position in the global botulinum toxin market, owing to increasing trend of cosmetic procedures in the region. For instance, according to a report published by American Society of Plastic Surgeons in 2016, around US$ 16.4 billion was spent on cosmetic procedures in the U.S. and in 2017, around 7.2 million botulinum injections were used in the U.S. for cosmetic procedures. Increasing number of cosmetic procedures in the key region of North America is expected to drive the growth of the botulinum toxin market in near future. Furthermore, Asia Pacific is expected to show rapid growth in botulinum toxin market, owing to increasing R&D and approval of novel products in China. For instance, in January 2018, Daewoong Pharmaceutical Co. Ltd., a Korean company, received approval from the Chinese authorities to conduct clinical trials for botulinum toxin Nabota in China.
Botulinum Toxin Market: Key Players
Key players operating in global botulinum toxin market includes 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. Major players in market are involved in strategic collaborations to develop new products. For instance, in February 2018, Mylan N.V. and Revance Therapeutics, Inc. underwent strategic collaboration and license agreement for the development and commercialization of a proposed biosimilar to BOTOX (onabotulinumtoxinA). Furthermore, key players are focusing on receiving approvals of its product in key market to expand their presence in global market. For instance, in February 2018, Medytox Inc. filed a new drug application with the China Food and Drug Administration (CFDA) to its botulinum neurotoxin product Meditoxin in China.
Botulinum Toxin Market: Market Taxonomy
The global botulinum toxin market has been segmented based on product type, application, distribution channel, and geography:
By Product Type:
Botulinum Toxin Type A
Botulinum Toxin Type B
By Application:
Cosmetics
Dystonia
Chronic Migraines
Spasticity
Others
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By Geography:
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
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