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Botulinum Toxin Global Market Top Companies, Trends and Future Prospects Details for Business Development 2033 | Cigna Group, Pfizer Inc., AbbVie Inc., Teijin Pharma Ltd., Eisai Co. Ltd.
Botulinum Toxin Global Market
Botulinum Toxin Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $10.53 billion In 2028 At A CAGR Of 9.2%.
The botulinum toxin market size has grown rapidly in recent years. It will grow from $6.72 billion in 2023 to $7.4 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to cosmetic applications, medical therapies, growth in aesthetic medicine, increased awareness and acceptance, research and development initiatives..
The botulinum toxin market size is expected to see strong growth in the next few years. It will grow to $10.53 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to expanding aesthetic medicine market, advancements in formulations and delivery, diversification of therapeutic uses, global aging population, rising demand in emerging markets, growing patient awareness and acceptance, global market expansion. Major trends in the forecast period include strategic collaborations, personalized and precision medicine approaches, regulatory approvals for new indications, product innovations.
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Botulinum Toxin Market Major Segments
The botulinum toxin market covered in this report is segmented -
1) By Type: Botulinum Toxin Type A, Botulinum Toxin Type B
2) By Application: Therapeutics, Aesthetics
3) By End User: Hospitals, Specialty Clinics, Dermatology Clinics, Other End Users
Key Driver - Surging Demand For Aesthetic Procedures Fuels Growth In The Botulinum Toxin Market
The increasing demand for aesthetic procedures is expected to propel the growth of the botulinum toxin market going forward. Aesthetic procedures refer to a range of cosmetic treatments and interventions that are performed to enhance or improve a person's appearance and can be surgical or non-surgical. Botulinum toxin is used in aesthetic procedures to relax specific muscles and reduce the appearance of wrinkles and fine lines. For Instance, in 2021, According to the statistical report Aesthetic Plastic Surgery published by The American Society for Aesthetic Plastic Surgery, a US-based organization for the advancement of cosmetic surgery, in 2020, the average plastic surgeon performed 220 surgical procedures, however, in 2021, the average number of surgical procedures performed by plastic surgeons increased to 320, indicating a notable rise in surgical activity within the field. Therefore, the increasing demand for aesthetic procedures is driving the growth of the botulinum toxin market.
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Prominent Trend - A Pioneering Botulinum Toxin For Aesthetic Enhancements Sets New Standards
Product innovations are the key trends gaining popularity in the botulinum toxin market. Companies operating in the botulinum toxin market are innovating products to sustain their position in the market. For instance, in January 2023, Evolus Inc., a US-based medical aesthetics company got approval from the Australian Therapeutic Goods Administration (TGA) for Nuceiva (prabotulinumtoxin A) in Australia. Nuceiva (prabotulinumtoxinA) is a neurotoxin that contains botulinum toxin type A and used for aesthetic purposes. This product is used for temporary improvement of the appearance of moderate glabellar lines in adult patients by blocking the nerve impulses of facial muscles and making them relax and smoothing the wrinkles formed by facial expressions, squinting, and frowning.
Botulinum Toxin Market Players
Major companies operating in the botulinum toxin market report are Cigna Group, Pfizer Inc., AbbVie Inc., Teijin Pharma Ltd., Eisai Co. Ltd., Menarinin Group, Ipsen Group, Galderma S.A., Daewoong Pharmaceuticals Co. Ltd., Supernus Pharmaceuticals Inc., Merz Pharma GmbH & Co. KGaA, Hugel Inc., Evolus Inc., Medytox Inc., Revance Therapeutics Inc., Sinclair Pharma, US WorldMeds LLC, Hugh Source International Ltd., MedivaPharma, Wigmore Medical, AesthetiCare, Lanzhou Institute of Biological Products Co Ltd., AestheticSource, Botox Cosmetic, Metabiologics Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the botulinum toxin market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the botulinum toxin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Botulinum Toxin Market Report Structure
3. Botulinum Toxin Market Trends And Strategies
4. Botulinum Toxin Market - Macro Economic Scenario
5. Botulinum Toxin Market Size And Growth
…..
27. Botulinum Toxin Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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