Botulinum Toxin Market: Drivers
Increasing number of procedureswith botulinum toxin along with increasing approved indication is expected todrive growth of the global BotulinumToxin Market. Frequent approvals of novel botulinum toxin products fordifferent indications are expected to drive growth of the Botulinum toxinmarket in near future. For instance, in 2016, Ipsen S.A. received the U.S. Foodand Drug Administration (FDA) approval for its Dysport (abobotulinumtoxinA)injection indicated for the treatment of pediatric lower limb (PLL) spasticityin children of age two years and older. In 2017, company received the FDAapproval for same product to use in adults. In 2017, Allergan plc. received FDAapproval for BOTOX Cosmetic (OnabotulinumtoxinA) for new indication in foreheadlines, and previously the product has been approved for the treatment of ,crow's feet lines, and glabellar lines. With this approval company has expandedthe indication of its product in the temporary improvement in the appearance ofmoderate to severe forehead lines associated with frontalis muscle activity inadults. In 2014, Allergan Inc. received approval for its BOTOX (Botulinum toxintype A) from Medicines and Healthcare Products Regulatory Agency (MHRA) in U.K.BOTOX was approved in the U.K. for treatment of ankle disability due to lowerlimb spasticity associated with stroke in adults. In 2016, Daewoong PharmaceuticalCo., Ltd received approval for its botulinum toxin Nabota in Mexico and India.Nabota was introduced by Daewoong Pharmaceutical Co., Ltd in South Korea in2014. In 2015, Merz North America, the U.S. subsidiary of the global MerzPharma Group, received U.S. FDA approval for Xeomin (incobotulinumtoxinA)indicated for the treatment of upper limb spasticity (ULS) in adult patients.
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Furthermore, increasing trend ofbotulinum toxin in cosmetic procedures is also expected to increase the growthof botulinum toxin market in near future. For instance, according to a reportpublished by American Society of Plastic Surgeons in 2016, around 7,056,255cosmetic minimally-invasive procedures were performed with Botulinum toxin TypeA (Botox, Dysport, and Xeomin), there was an increase of 4% in procedures ascompared to 2015.
Botulinum toxin is a productproduced by naturally occurring Clostridium botulinum bacteria. This bacteriais found in soil and marine sediments and can produce harmful neurotoxinbotulinum toxin. Botulinum toxin is a ‘blocking agent’ which inhibits therelease of certain neurotransmitters, specifically acetylcholine, from theendings of the motor nerves. There are about eight types of botulinum toxinnamed from type A to H. Botulinum toxin type A and botulinum toxin type B aremajorly used in cosmetic procedures for the treatment of various facialconditions, its commercially marketed under the brand name Botox. Botulinumtoxin type A and B are also used in medical applications for treatment of variousdiseases such as dystonia, chronic migraines, and spasticity.
Botulinum Toxin Market: Regionalanalysis
North America is expected to holda dominant position in the global botulinum toxin market, owing to increasingtrend of cosmetic procedures in the region. For instance, according to a reportpublished by American Society of Plastic Surgeons in 2016, around US$ 16.4billion was spent on cosmetic procedures in the U.S. and in 2017, around 7.2million botulinum injections were used in the U.S. for cosmetic procedures.Increasing number of cosmetic procedures in the key region of North America isexpected to drive the growth of the botulinum toxin market in near future.Furthermore, Asia Pacific is expected to show rapid growth in botulinum toxinmarket, owing to increasing R&D and approval of novel products in China.
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For instance, in January 2018,Daewoong Pharmaceutical Co. Ltd., a Korean company, received approval from theChinese authorities to conduct clinical trials for botulinum toxin Nabota inChina.
Botulinum Toxin Market: KeyPlayers
Key players operating in globalbotulinum toxin market includes Ipsen group, Allergan Plc., Medytox Inc., MerzGmbH and Co. KGaA, US Worldmed, LLC, Lanzhou Institute of Biological ProductsCo. Ltd., Revance Therapeutics, Inc., and Daewoong Pharmaceutical Co., Ltd.Major players in market are involved in strategic collaborations to develop newproducts. For instance, in February 2018, Mylan N.V. and Revance Therapeutics,Inc. underwent strategic collaboration and license agreement for thedevelopment and commercialization of a proposed biosimilar to BOTOX(onabotulinumtoxinA). Furthermore, key players are focusing on receivingapprovals of its product in key market to expand their presence in globalmarket. For instance, in February 2018, Medytox Inc. filed a new drugapplication with the China Food and Drug Administration (CFDA) to its botulinumneurotoxin product Meditoxin in China.
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