Global Botulinum Toxin Market Insights
The Global Botulinum Toxin Market was valued at USD 5.75 Billion in 2021, and it is expected to reach market size of USD 9.14 Billion by 2028, at a CAGR of 6.8 % over the forecast period (2022–2028).
Botulinum Toxin (BNT) is a neurotoxin with seven antigenic forms: BNT-A, B, C, D, E, F, and G. It is produced by the anaerobic bacterium Clostridium botulinum and is commonly used for cosmetic purposes. Currently, just a few BNT - A goods and one BNT - B product are commercially available in the market. However, significant investment in R&D initiatives to develop botulinum toxin's therapeutic usage is offering chances for its use cases to expand botulinum toxin market in the coming years.
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Global Botulinum Toxin Market Segmental Analysis
The global botulinum toxin market segmentation by type, end use, and region. By type, the market is segmented into botulinum toxin type A, botulinum toxin type B. Based on end use, the market is segmented into therapeutic and aesthetic. Based on region the global botulinum toxin market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Global Botulinum Toxin Market Competitive Landscape
The key players in the botulinum toxin market are working on continuous innovation and product portfolio enhancement for better aesthetic and therapeutic outcomes for patients. For example, in February 2021, AbbVie, one of the prominent players in global botulinum toxin market, got FDA clearance for Botox to treat detrusor overactivity associated with a neurological disease in select pediatric patients aged 5 and older. Furthermore, the growing relevance of aesthetic beauty, fueled by the expanding therapeutic applications of these toxins for critical and chronic diseases, is expected to drive the growth of botulinum toxin during the forecast period.
Top Players in Botulinum Toxin Market
- AbbVie Inc. (US)
- Ipsen Pharma (France)
- Revance Therapeutics, Inc. (US)
- Merz Pharma (Germany)
- Medytox (South Korea)
- USWM, LLC. (US)
- GALDERMA (Switzerland)
- Lanzhou Institute of Biological Products Co., Ltd. (China)
- HUGEL, Inc. (Republic of Korea)
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Recent Development in Global Botulinum Toxin Market
- In April 2022, PatientFi, an emerging company in patient payments, announced expansion of its co-marketing agreement with Allergan Aesthetics, an AbbVie company, to provide financing options for patients interested in treatments such as BOTOX Cosmetic (onabotulinumtoxinA), JUVÉDERM Collection of Fillers, Natrelle breast implants for breast augmentation, CoolSculpting, and DiamondGlow.
- In February 2022, Healis Therapeutics announced that its its ownership of a crucial botulinum toxin patent from AbbVie. Allergan obtained the rights to develop botulinum toxin for depression in 2013 after clinically significant outcomes in early trials. In 2017, Allergan completed a Phase II study and announced intentions for a Phase III investigation. AbbVie obtained control after acquiring Allergan in 2020.
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