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Botulinum Toxin Market SWOT Analysis Detailed Study Analysis With Forecast by 2026
Global Botulinum Toxin Market - SnapshotThe global botulinum toxin market was valued at US$ 4,527.0 Mn in 2017 and is projected to reach US$ 8,718.7 Mn by 2026, expanding at a CAGR of 7.6% from 2018 to 2026. Increase in the prevalence of spasticity and cervical dystonia and the number of cases of migraine is expected to drive the botulinum toxin market during the forecast period. Surge in the rate of adoption of non-surgical botulinum toxin procedures, due to their noninvasive or minimally invasive nature, is boosting botulinum toxin market. Rise in the number of worldwide geriatric population and incidences of esthetic issues, such as crow's foot and lateral canthal lines, is a key factor that is anticipated to propel the botulinum toxin market during the forecast period. However, lack of awareness regarding the advancements in non-surgical esthetic and therapeutic procedures is a major factors hampering revenue generation in the global botulinum toxin market.
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[img title="Global Botulinum Toxin Market" src="https://www.transparencymarketresearch.com/images/global%20-botulinum%20-toxin%20-market.jpg" alt="global botulinum toxin market">
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Based on region, the global botulinum toxin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global botulinum toxin market in 2017, owing to the rise in awareness level regarding non-surgical esthetic and therapeutic procedures. The botulinum toxin market in North America is expected to maintain its dominant position in the global market during the forecast period. The botulinum toxin market in Europe is expected to expand during the forecast period, due to increase in geriatric population. The market in Asia Pacific is projected to expand at a comparatively higher CAGR during the forecast period, owing to the rise in adoption of non-surgical botulinum toxin procedures by the geriatric population and favorable government regulations.
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Prominent players operating in the global botulinum toxin market include Allergan, Inc., Ipsen Group, Merz Pharma GmbH & Co. KGaA, Medytox, Inc., US Worldmed, LLC, Galderma, Metabiologics, Inc. (US), Lanzhou Institute of Biological Products Co. Ltd. and Revance Therapeutics, Inc. Allergan, Inc., Ipsen Group, and Merz Pharma GmbH & Co. KGaA are the prominent global market players in the botulinum toxin market. Allergan, Inc. has strong regional presence, either direct or through subsidiaries, distributors, and partnerships. Extensive research & development, international presence, robust marketing, and product reliability, provide the company, an upper hand over its competitors.
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