Los Angeles, January 13, 2020 -QY Research has recently added a new report in its repository titled, “Global Botulinum Toxin Market Research Report 2019.” According to this report, the global Botulinum Toxin market was valued US$ 4.5 Bn in 2018 and is likely to touch US$ 10.7 Bn by the end of 2025. The global Botulinum Toxin market is estimated to record a robust CAGR of 13.0% from 2019 to 2025. The growth is primarily attributed to the increasing demand for Botulinum Toxin in improving aesthetic appearance, particularly for anti-aging.
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Enhancing Aesthetic Appearance - Effectiveness of Botulinum Toxin Propels Its Demand
● High Demand for Botulinum Toxin in the cosmetic industry to improve the appearance is driving the growth of the global market
● Botulinum Toxin has largescale applications in other therapeutic treatments such as treating eye disorders and treating stiffness and spasm in muscles
● The scope of Botulinum Toxin better known as – Botox, for the treatment of Necrotizing Fasciitis, a rare serious skin infection, which is potentially life-threatening is likely to open new avenues for the market.
Anti-Aging – A Popular Concern among Women to Boost the Cosmetic Segment Growth
The application segment of the market is segregated into cosmetic and medical. Increasing applications of Botox for anti-aging treatment due to high demand from women in the age group of 45 to 60 is likely to augment the growth of the cosmetic segment. The type segment of the market is divided into 100U, 50U, and others.
The Popularity of Aesthetic Procedures is Driving the Market Growth in North America
North America is estimated to hold a significant share of the market due to the popularity of aesthetic procedures for enhancing appearance. The Asia-Pacific market is expected to witness high demand due to the rising number of aging population along with increasing awareness regarding the availability of products for anti-aging.
The authors of the report have included the profile of the major players of the market. These players include Ipsen, Allergan, LIBP, Medytox, US World Meds, and Merz Pharmaceuticals. The market is highly competitive and is dominated by key players like Ipsen and Allergan. Market players are involved in new product launches, R&D, and clinical trials for product testing and seeking approval from entities such as the FDA to expand in international market.
● For instance, on 6th Jan 2020, Ipsen announced the launch of Dysport® a botulinum toxin with Medicines and Healthcare Products Regulatory Agency (MHRA) granting license for the product.
● In Oct 2019, Allergan announced FDA approved the sBLA license for BOTOX® for the treatment of the pediatric patient from 2 to 17 years of age with lower limb spasticity excluding cerebral palsy.
● In another instance in 2019, Medy-Tox Inc., a leading producer in South Korea, launched Coretox, a new botulinum toxin type A product aimed at reducing the risk of resistance after repeated injections.
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