Inkwood Research anticipates that the Global Botulinum Toxin Market is evaluated to register a CAGR of 5.14% in terms of revenue during the forecasted years of 2021-2028.
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Botulinum toxin is characterized as a neurotoxic protein
produced by the Clostridium botulinum bacterium, in addition to related
species. The protein inhibits the neurotransmitter acetylcholine’s release from
axon endings situated at the neuromuscular junction, resulting in flaccid
paralysis.
Rising
Demand for Aesthetic Procedures to Propel Market Growth
The demand for cosmetic treatments continues to increase
globally and is anticipated to continue the same trend over the upcoming years.
In this regard, as per the International Society of Aesthetic Plastic Surgery, the
number of non-surgical procedures performed in 2018 was more than 12,659,140.
In the same year, the leading non-surgical procedure performed among women was
botulinum toxin, accounting for over 5,344,764 procedures. Moreover, statistics
also indicate that approximately 1 million men underwent non-surgical
procedures, representing a transitioning trend across the global aesthetics
market.
According to the recent data issued by the American Society
of Plastic Surgeons (ASPS), out of the 15.9 million cosmetic minimally-invasive
procedures performed in the United States, in 2018, botulinum toxin type A ranked
the highest, equating to nearly 7.44 million procedures.
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Type B is
the Fastest-Growing Type
Botulinum toxin type B is a type of neurotoxin produced from
Clostridium botulinum, largely accepted for medical treatments. Type A and type
B differ on the basis of the mechanism of action. The two types are inclined to
block neuromuscular transmission by attaching to the receptor sites on motor
neuron terminals as well as preventing the release of acetylcholine. With type
A, the inhibition is initiated by cleaving the SNAP-25 (protein), while type B
cleaves the synaptobrevin or synaptic vesicle-associated membrane proteins
(VAMP).
On the other hand, multiple studies related to botulinum
toxin type B are being conducted in order to explore the respective
applications for medical reasons. For instance, as per the 2020 study published
in the American Journal of Clinical Dermatology, botulinum toxin type B was
evaluated for its efficacy and safety in terms of treating hidradenitis
suppurativa.
Asia-Pacific
to Lead the Global Market by 2028
The Asia-Pacific is estimated to be the leading market for
botulinum toxin. The region’s growth is attributed to key drivers such as the surge
in awareness and interest in aesthetic procedures and treatments, the increasing
elderly population, and the rising purchasing power of the middle class, owing
to economic developments.
Leading market players compete heavily on the grounds of
product development and marketing. The firms also invest heavily in therapeutic
label extension, research and development, and acquisitions in order to
streamline as well as augment product offerings. Hence, these factors increase
the global market’s competitive rivalry. Some of the key companies operating in
the market are Galderma SA, Merz Pharma, Evolus Inc, etc.
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objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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