Botulinum Toxin Market Was Valued at USD 3.5 Billion in 2021. Aided By Inclination Towards Beauty Consciousness and Aesthetic Surgeries

According to Precision Business Insights (PBI), the global botulinum toxin market is expected to be worth USD 3.9 billion in 2022, growing at a 7.1% CAGR from 2022 to 2028. Global Botulinum Toxin Market is segmented into the following types: By Product Type (Botulinum Toxin A), Distribution Channel (Retail Pharmacies, Beauty Clinics, and Online Pharmacies), Geography (North America, Europe, Asia Pacific, Latin America, and MEA), and Forecast to 2028. Key player's profiles in the Botulinum Toxin market report are AbbVie Inc., Ipsen Pharma, Revance Therapeutics, Inc., Merz Pharma, Medytox, USWM, LLC., GALDERMA, Lanzhou Institute of Biological Products Co., Ltd., Allergan PLC, and HUGEL, Inc. Increased healthcare spending is a strong indicator of a nation's healthcare sector improving. As a result, it suggests that numerous therapeutic and preventive procedures for disorders such as migraine, overactive bladders, hyperhidrosis, and other Botox operations are available. The growing desire for current cosmetic standards worldwide has generated a significant growth platform for botulinum toxin A products. Furthermore, therapeutic applications for botulinum toxins have created opportunities for the healthcare industry.

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Botulinum Toxin A Segment Dominates the Botulinum Toxin Market:
Botulinum Toxin A segment is expected to account for a larger revenue share in the global botulinum toxin market with a value share in the worldwide market. It is projected to grow at a CAGR between 2022 and 2028. Botulinum Toxin A segment is projected to reach around USD Mn by 2028. Botulinum Toxin A injections are widely used for operations worldwide due to the large variety of products available for medicinal and cosmetic purposes. Furthermore, botulinum toxin product approval is increasing; for example, in February 2019, Evolus Inc. received USFDA approval for Jeuveau (Type A injections), which temporarily improves the appearance of moderate to severe glabellar lines in adults with corrugator or procerus muscle activity.

The Asia Pacific Leads Botulinum Toxin Market
The Asia Pacific is expected to hold a significant market share in the global botulinum toxin market over the forecast period. It is projected to grow at a rapid CAGR in the coming years. Due to the rising population's flexible income and a growing preference for medical tourism in Asian countries, the Asia Pacific area is expected to see a higher demand for non-invasive aesthetic solutions. Due to the low presence of manufacturers, Asia Pacific is the most opportunistic market space for industry players.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Botulinum Toxin market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In June 2021, Hugel America Inc. was granted Biologics License Application by the United States Food and Administration for its Letibotulinumtoxin A. In May 2020, AbbVie completed the acquisition of Allergan for its business expansion. With Allergan's leading aesthetic brands in the market, this acquisition will give the business a competitive advantage.

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Detailed Segmentation
Botulinum Toxin Market is segmented based on product type, distribution channel, and geography.
Based on the product type, the market is segmented into the following:
• Botulinum Toxin A

Based on the distribution channel, the market is segmented into the following:
• Retail Pharmacies
• Beauty Clinics
• Online Pharmacies

Based on the geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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This release was published on openPR.