Leeds, UK -- (SBWIRE) -- 07/10/2019 -- The global botulinum toxin market is assessed to value over US$ 8 billion by the end of 2026 and to grow at a CAGR of over 7% during the forecast period of 2019-2026.
Botulinum toxin is supremely an essential way of preventing damage and strengthening of dental hard tissues. Botulinum toxin type A (BOTOX) does not involve the entrance of devices in the body and is generally utilized as a functional mode of treatment of multiple healing symptoms. Botulinum toxin is a natural protein produced by the anaerobic bacterium, Clostridium botulinum. Botulinum is used for the treatment of strabismus and is desired in the cosmetic market. Growing research activities expanded the scope of botulinum for the treatment of neurological conditions like spasticity, dystonia, tremor, and others. Clinically botulinum is used for the treatment of strabismus and huge demand in cosmetic applications. Growing research activities expanded the scope of botulinum for the treatment of neurological conditions like spasticity, dystonia, tremor, and others. Along with this, recent research activities have concluded that botulinum is also used for autonomic disorders like hypersecretory disorders, detrusor sphincter, and others.
Easy and perennial acceptance of botox products has fuelled the market of botulinum toxin. FDA's approval for Dysport to treat lower leg in children has fuelled the market. Also the FDA's approval for OnabotulinumtoxinA to be used as a treatment for interim improvement in the emergence of moderate to severe forehead lines blended with frontal muscle activities in adults has further expanded the market.
The growing demand of botulinum in disease management led to the robust growth of the market. The adding significance of botulinum in chemo-denervation has generated huge demand among the general population. Also, the growing importance of self appearance and aesthetics in the middle of the general population has fueled the growth of the market. High spending capacity and huge demand aesthetics among the general population of developed economies fuelled the growth of the global market. However, the expensive treatment of botulinum has restricted the growth of the market. Also, less knowledge of cosmetic products in regions like Latin America and Rest of the World has hindered the potential of the market. More preference for local products in such regions has restricted the growth of the market.
Developed economies like North America and Europe account for more 60% of the market share. The US dominated the North America market due to high penetration among the general population and the end-user segment. UK, Germany, France, and Italy dominated the European market. The Asia Pacific is the most opportunistic market space for market players due to the limited presence of manufacturers. It represented a fast-growing region during the forecast period. Latin America and Rest of World is a highly untapped market due to the limited presence of manufacturers.
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Botulinum Toxin Market Restraint
- Expensive treatment
- More preference for local products
- Less knowledge of cosmetic applications
Botulinum Toxin Market Segmentation
By Application
- Clinical Application
- Cosmetic Application
By End User
- Hospitals
- Cosmetic Centres
- Outpatient Centres
By Region
- North America
- Latin America
- Europe
- Asia and Pacific
- Rest of the World
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Competitive Landscape:
- Tier 1 players- established companies in the market with a major market share
- Tier 2 players
- Emerging players which are growing rapidly
- New Entrants
FutureWise Key Takeaways
- Growth Aspects
- SWOT Analysis
- Key Trends
- Key data-points affecting key growth
Objectives of the Study:
- To provide with an exhaustive analysis on the global botulinum toxin market by application, by end user, by region
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market.
- To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financial and core competencies
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