According to our new research study, titled “Botulinum Toxin Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and End User,” the market is expected to grow from US$ 5,307.71 million in 2021 to US$ 8,977.62 million by 2028. It is estimated to grow at a CAGR of 7.8% during 2021–2028. Factors driving the botulinum toxin market’s growth are the increasing aesthetic procedures and use of botulinum toxin and the rising number of non-invasive cosmetic procedures.
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Botulinum toxins have now established themselves as effective therapeutic agents for various medical conditions. Therapeutic uses of BTX include treating diseases, such as chronic migraines, muscle spasticity, over-reactive bladder, and hyperhidrosis. The cosmetic and clinical application of BTX offers a comprehensive and in-depth review of aesthetic procedures and medical applications for standalone treatment and combination therapy. The Food and Drug Administration (FDA) approved BTX-A in 1989 to treat strabismus. Since then, it has become one of the most important advancements in the therapeutics of movement disorders, such as muscular dystonia and dyskinesia.
In neurorehabilitation, BTX is mainly used to treat spasticity and prevent muscle contractures. Two formulations of BTX-A have been commercialized and marketed as Dysport (Ipsen Ltd., Berkshire, UK) and Xeomin (Merz, Frankfurt, Germany). Different procedures are used to manufacture BTX-A, and the drug also has different formulations and potencies, which are determined by biological assays based on their clinical use. BTX-B is distributed under the name of NeuroBloc in Europe. BTX has revolutionized the treatment of various spastic eye disorders, facial dystonia, and periocular folds. The precise knowledge and understanding of the functional anatomy of the facial muscles are necessary for ensuring the appropriate use of BTX in clinical practice. In the future, the development of new potent toxins for increasing potency and duration of action will offer lucrative opportunities for the botulinum toxin market to expand in different regions.
AbbVie Inc.; Merz Pharma; Medytox; Sanofi; Ipsen Pharma; Galderma; Revance Therapeutics Inc.; Lanzhou Institute of Biological Products Co., Ltd.; Candela Medical; and Daewoong Pharmaceutical Co. Ltd. are among the leading companies operating in the global botulinum toxin market.
Based on product type, the botulinum toxin market is segmented into type A botulinum toxin and type B botulinum toxin. Based on application, the market is segmented into medical and aesthetics. Based on end user, the botulinum toxin market is segmented into specialty and dermatology clinics, hospitals and clinics, and others. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South and Central America (Brazil, Argentina, and the Rest of SCAM).
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