Botulinum Toxin Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

According to a new report published by , titled, "Botulinum Toxin Market," The botulinum toxin market size was valued at $5.8 billion in 2021, and is estimated to reach $13.1 billion by 2031, growing at a CAGR of 8.6% from 2022 to 2031.

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Botulinum toxin, also called as "miracle poison," is one of the most poisonous biological substances. It is a neurotoxin produced by the bacterium Clostridium botulinum, an anaerobic, gram-positive, spore-forming rod commonly found on plants, in soil, water and the intestinal tracts of animals. Botulinum toxin induces weakness of striated muscles by inhibiting transmission of alpha motor neurons at the neuromuscular junction. This has led to its use in conditions with muscular overactivity, such as dystonia. Transmission is also inhibited at gamma neurons in muscle spindles, which may alter reflex overactivity. The toxin also inhibits release of acetylcholine in all parasympathetic and cholinergic postganglionic sympathetic neurons. This has generated interest in its use as a treatment for overactive smooth muscles (for example, in achalasia) or abnormal activity of glands (for example, hyperhidrosis).

The key factors that drive the growth of the botulinum toxin market size include increase in geriatric population, rise in number of licensed medical centers, and surge in self-awareness among population regarding the physical appearance. Moreover, the increase in usage of botulinum toxin injection in several aesthetic procedures including the treatment of glabellar lines, chemical browlift, and forehead lines are some of the major botulinum toxin market trends. However, side effects associated with botulinum toxin procedures and high cost of procedures are likely to hamper the growth of the market during the forecast period. Conversely, rise in investment in R&D activities by major manufacturers to explore the therapeutic use of botulinum toxin are expected to provide numerous opportunities for market growth during the forecast period.

By product, the botulinum toxin A segment dominated the botulinum toxin industry in 2021 and is expected to remain dominant during the forecast period, owing to rise in customer preference due to advantages including minimal pain, no blood loss, and lack of scarring during the procedure. In addition, Botulinum toxin type-A has been increasingly utilized to treat chronic migraine, tension-type headache, and other primary neurological disorders which further propel the market growth.

By application, the therapeutic segment dominated the market in 2021 and is expected to remain dominant during the forecast period, owing to heavy investment for extensive R&D of therapeutics products and its expanding applications in various disease categories such as chronic migraine, conditions such as hyperhidrosis, and over-reactive bladders.

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By end user, the specialty and dermatology clinic segment dominated the botulinum toxin Industry in 2021 and is expected to remain dominant during the forecast period, owing to increase in number of dermatology and rise in expenditure by governments to improve the healthcare industry. Moreover, higher number of non-invasive cosmetic procedures performed in the specialty and dermatology clinics as compared to hospitals which further drives the segment growth.

Region wise, North America has the highest botulinum toxin market share and registered a significant CAGR during the forecast period. The dominance is due to higher number of botulinum toxin procedures, increase in number of approvals for aesthetic products, a strong presence of key players, and advancements in medical and aesthetic sector. Asia-Pacific is projected to register the highest CAGR during the botulinum toxin market forecast. Increase in geriatric population, rise in awareness among young population regarding aesthetics, growth in healthcare expenditures, and surge in adoption of Botox products are the key driving factors that boost the growth of the market in the region.

KEY FINDINGS OF STUDY

On the basis of botulinum toxin market analysis, the botulinum toxin type A segment dominated the market in 2021 and is expected to continue this trend during the forecast period.

On the basis of application, the therapeutic segment dominated the market in 2021, and is expected to continue this trend during the forecast period.

On the basis of end user, specialty and dermatology clinic segment is projected to grow at a higher CAGR during the forecast period.

On the basis of region, North America held the largest botulinum toxin market share in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Botulinum Toxin Market By Product (Botulinum Toxin Type A, Botulinum Toxin Type B), By Application (Aesthetic, Therapeutic), By End User (Hospitals, Specialty and Dermatology Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

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This release was published on openPR.