Botulinum Toxin Market - In-Depth Analysis & Forecast 2017-2025
Botulinum toxin, known to the mankind as one of the most poisonous biological substances, is a neurotoxin produced by the Clostridium botulinum bacteria. Clostridium botulinum, the gram-positive, anaerobic, spore-forming bacteria commonly found in water, soil, on plants, and the intestinal tracts of animals can be elaborated into eight exotoxins, all interfering with the process of neural transmission and causing muscle paralysis.
From the earliest recorded uses of the toxin for the management of strabismus in humans to being approved for the treatment of a number of spasticity-related conditions, it has now started witnessing demand across nearly all important sub-specialties of the medicine sector. It was approved by the FDA in 2002 for the cosmetic application of decreasing glabeller forehead frown lines temporarily.
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Ever since, botulinum toxins continue to play a key role in the management of a wide range of medical conditions, especially hemifacial spasm, focal dystonias and strabismus, several spastic movement disorders, hyperhidrosis, hypersalivation, headaches, and certain chronic diseases that only partially respond to medical treatments. The set of potential new indications treatable by botulinum toxins is expanding at a rapid pace.
Cosmetological applications, one of the most popular and profitable applications of botulinum toxins, include correction of creases, fine lines, and wrinkles over the face, neck, chin, and chest. Dermatological applications of the toxin, including hyperhidrosis, are also gaining increased popularity, chiefly as botulinum toxin injections are often well tolerated and lead to few side effects.
Global Botulinum Toxin Market: Overview
The international botulinum toxin (BNT) market is gigantically advantaged by the soaring number of applications for different purposes. A recent study has revealed that BNT can be used for benefitting patients with shoulder disorders such as those who undergo rotator cuff surgery. BNT in the form of onabotulinum toxin A (OnabotA) is licensed in several countries such as Korea to help with neurogenic detrusor overactivity (NDO) induced urinary incontinence attributable to multiple sclerosis or spinal cord injury.
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The world BNT market could be segregated as per two key classifications, i.e. product type and end use. Maintaining a promising share in the global market, botulinum toxin type A (BNTA) is envisioned to be a faster growing product with applications in both aesthetic and therapeutic fronts.
The report on the global BNT market has been compiled after taking comprehensive efforts to gather vital insights for procuring future growth prospects, opportunities to rise against the odds, and data related to the current and future competitive scenario.
Global Botulinum Toxin Market: Trends and Opportunities
The aesthetic classification by type of end use is prognosticated to make a positive difference in the overall BNT market with a record share registered in 2015. BNT finds application in the treatment of glabellar lines, crow’s feet, and frown lines. As a result, it has received a significant demand in terms of primary cosmetic application for controlling aging signs and enhancing facial appearance.
Since BNT is a neurotoxin, the lackluster in the adoption of neurotoxins could raise questions on the demand in the global BNT market. The market growth could be further hindered with substandard reimbursement coverage on few products and extortionate treatment procedures. Moreover, shortness of breath and allergic reactions are some of the side effects witnessed on the part of neurotoxins.
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However, a substantial number of BNT applications is expected to birth in the near future on account of large investments in research and development projects. The demand for BNT is anticipated to augment even more with the increase in demand for non-invasive and minimally invasive treatments. Vendors can also keep their hopes alive during any turmoil in the market with the escalation of geriatric population.
The therapeutic use of BNT is predicted to see a constant rise owing to the growing application of botulinum toxin B (BNTB) in the treatment of cervical dystonia and Xeomin and Dysport products for hyperhidrosis and blepharospasm.
Global Botulinum Toxin Market: Regional Outlook
Asia Pacific is analyzed to possess the potential to rise as a reliable geographical segment to bet the bottom dollar on. The demand in the Asia Pacific BNT market is envisaged to aggravate as players ride on the growing aged population and their need for anti-aging products. Besides augmenting disposable income, vendors in the Asia Pacific region could heavily benefit from the hot social awareness about commercial anti-aging products in countries such as Japan, China, and India.
Having won the crown of dominant growth in 2015, North America is expected to raise the growth bar once again on the back of the elevating BNT demand for improving external appearances and other aesthetic reasons.
Global Botulinum Toxin Market: Companies Mentioned
Considering their influence in the world BNT market on the basis of commercial availability and brand identity, companies such as Merz Pharma GmbH and Co. KgaA, Ipsen Group, Allergan, Inc., US Worldmeds, LLC, and Medytox, Inc. are predicted to top the list of best global players. These players are foreseen to take advantage of the colossal adoption of BNT on account of tangible benefits such as speedy healing of wounds, shorter stay in the hospital, and small incision.
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