Botox Market- Growth Opportunities by Manufacturers, Regions, Type and Application; Trends Forecast to 2022
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Botox is medically used for treating specific conditions of the muscles and cosmetically eliminate wrinkles through momentarily paralyzing muscles. Commercially, this toxin is sold under names such as Bocouture, Xeomin (IncobotulinumtoxinA or botulinum toxin type A), Botox, Vistabel, Botox cosmetic (OnabotulinumtoxinA or botulinum toxin type A), Myobloc (RimabotulinumtoxinB or botulinum toxin type B), and Dysport (AbobotulinumtoxinA or botulinum toxin type A).
Medical practitioners use Botox for several reasons, of which a few are enhancing the facial appearance by momentarily smoothing the facial wrinkles, strabismus (misaligned eyes), extreme underarm sweating, chronic migraine, hyperactive bladder, and many more. Botox in the form of injections function by either paralyzing or weakening a few specific muscles or by obstructing a few nerves. Based on the purpose of treatment, the effects of the Botox injections last for nearly three to twelve months. Some of the usual side effects of this treatment are swelling, pain, and/or bruising injection site.
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The global Botox market was evaluated at USD 3.4 billion in 2015 and is predicted to escalate at a CAGR of 7.9% during the forecast period. Rising population between the ages 25 to 65 years and elevating need for non-invasive or minimally invasive techniques are key factors propelling the global growth of this market.Other factors accountable for the lucrative growth of this market on a global level are ascending inclination towards Botox treatment amongst the young adults as well as the middle aged people and the reason that Botox treatment has the ability to render much reduced amount of pain and lesser number of incidences of post-operative complications like wound dehiscence and adhesions.
Additionally, with escalating cases of overall esthetic population and their increasing adaptation towards cosmetic surgeries like liposuction and facelifts, this market industry will witness positive growth during the forecast period. Moreover, elevating need of medical esthetics around the world will fuel this market further in the future. Increasing urge to enhance the physical appearances, the need for facial rejuvenation, Botox market is going to experience immense growth.
A few of the major market manufacturers of global Botox market are MerzPharma GmbH & Co. KGaA, MedyToxInc;Allergan, Inc.;Revance Therapeutics, Inc.; Ipsen Group;Lanzhou Institute of Biological Products. Co.Ltd.; and US WorldMeds, LLC.Geographically, this market industry is segmented into regions such as Asia-Pacific (China, Japan, Korea, India and Southeast Asia), North America (USA, Canada and Mexico), South America (Brazil, Argentina, and Columbia etc.), Europe (Germany, France, UK, Russia and Italy) and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Based on the product type, the market is segmented into 100U, 50U, and others.Lastly, the application segment of this market industry is split into cosmetic and medical.
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