Botulinum Toxin Market to Rise at 7.6% CAGR, Spurred by Interest in Anti-Ageing
A natural product of Clostridium botulinum bacteria is Botulinum Toxin. The bacteria can be found in soil and marine sediments and may lead to harmful botulinum toxin neurotoxins. A' blocking agent' inhibiting the release, particularly acetylcholine, of certain neurotransmitters from motor nerve endings. The type A and type B botulinum toxin are used mainly in the treatment of various facial conditions by botulinium toxin in cosmetic processes and are marketed commercially under the brand name Botox.
According to TMR, the global botulinum toxin market is projected to grow at a 7.6% CAGR over the forecast period 2018 to 2026. The market was estimated to be at US$ 4,527.0 Mn in 2017, and is likely to reach US$ 8,718.7 Mn by 2026.
Regulatory Approvals to Boost Growth Opportunities
The growth of the botulinum toxin market is projected to be driven by frequent approval of new botulinum toxin products for various indications in the near future. Ipsen S.A., for example, in 2016. The U.S. got The Dysports (abobotulinumtoxinA) approval from the Food and Drug Administration (FDA) has been shown in order to treat childhood spasticity in children 2 years old and older of infant low limb spasticity. The company was approved in 2017 to use the same product in adults by the FDA.
Allergan plc in 2017. FDA approval for new indication in front lines has been received from BOTOX Cosmetic (OnabotularinumtoxinA) and previously a product for the treatment of crow's feet and glabel lines has been approved. This approval has expanded its product indication in the temporary improvement of the appearance of moderate to severe frontal muscle lines in adults.
Asia Pacific to Emerge as Lucrative Regional Market
In recent years, North America dominated the market by gaining the largest share of income. The demand for botulinum toxin in North America is driven by higher availability and a wide range of esthetic procedures to increase their external appearance.
Asia Pacific is expected to have the highest growing population and disposable income in the near future, with higher anti-aging demand. Moreover, a rising social awareness of these products ' commercial availability in Asia Pacific is expected to increase market growth in the near future.
Market competition will soon intensify, with several companies now focusing on their research efforts to introduce new therapeutic applications of the existing products. Key vendors in the global botulinum toxin market are involved in strategic collaborations to develop new products.
Prominent players operating in the global botulinum toxin market are Merz Pharma GmbH & Co. KGaA, Metabiologics, Inc. (US), Ipsen Group, Allergan, Inc., and Lanzhou Institute of Biological Products Co. Ltd.
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