Botulinum Toxin Market by Product Type (Toxin Type A and Toxin Type B), by Application (Therapeutic and Aesthetic), by Gender (Male and Female), by Age Group (13–19, 20–29, 30–39, 40–54, and above), by End User (Hospitals, Dermatology Clinics, Spas & Cosm

Botulinum Toxin Market by Product Type (Toxin Type A and Toxin Type B), by Application (Therapeutic and Aesthetic), by Gender (Male and Female), by Age Group (13–19, 20–29, 30–39, 40–54, and above), by End User (Hospitals, Dermatology Clinics, Spas & Cosmetic Centers) – Global Opportunity Analysis and Industry Forecast, 2024–2030

Botulinum Toxin Market
Domain - Materials and Chemicals
Sub Domain - Chemicals

The Botulinum Toxin market size was valued at USD 6.6 billion in 2023, and is predicted to reach USD 11.6 billion by 2030, with a CAGR of 8.51% during the forecast period, 2024–2030.

The rising preference for minimally invasive procedures, such as botulinum toxin injections, further fuels the botulinum toxin market. Patients increasingly opt for treatments that involve lesser risk, shorter recovery times, and fewer complications compared to traditional surgical procedures. According to the latest survey by the International Society of Aesthetic Plastic Surgery (ISAPS), as of 2023, surgical procedures have grown by 16.7%, while non-surgical procedures have increased by 7.2%. Notably, a substantial surge of 57.8% in non-surgical procedures has occurred over the past four years. This trend is driven by a desire for safer and less invasive alternatives to address cosmetic concerns and medical conditions. As a result, the botulinum toxin market is expanding, as it offers patients effective results with minimal disruption to their daily lives and overall well-being. This aligns with the modern preference for convenience and reduced medical intervention.

Moreover, the continuous stream of product approvals from various regulatory bodies drives the botulinum toxin market. These approvals provide a green light for manufacturers to introduce new and improved botulinum toxin-based products to the market. For instance, in August 2023, the U.S. Food and Drug Administration (FDA) approved the first therapeutic indication of Revance's DAXXIFY (DaxibotulinumtoxinA for Injection), specifically for the treatment of cervical dystonia. This approval of DAXXIFY for cervical dystonia marks a significant milestone in expanding its applications beyond the cosmetic use. Thus, such kind of endorsement from regulatory authorities enhances the overall credibility of aesthetic treatments, encouraging widespread adoption and contributing to the market's expansion.

However, adverse effects of botulinum toxin procedures, such as skin reactions, allergies, swallowing difficulties, and neck discomfort, pose limitations that are expected to restrain the growth of the market. On the contrary, the introduction of new botulinum toxins, including DaxibotulinumtoxinA for Injection and Jeuveau, are expected to create ample growth opportunities for the market in the future.

Segment Overview
The global botulinum toxin market is segmented on the basis of product type, application, gender, age group, end user, and region.

 By product type, the market is classified into toxin type A and toxin type B.
 By application, the market is segmented into therapeutic and aesthetic.
 By gender, the market is divided into male and female.
 By age group, the market is categorized into 13–19, 20–29, 30–39, 40–54, and above.
 By end user, the market is divided into hospitals, dermatology clinics, and spas & cosmetic centers.
 Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).

The North American market is projected to hold the dominant share by 2030
North America dominates the global botulinum toxin market, and is expected to remain dominant throughout the forecast period. This is attributed to the rising demand for aesthetic plastic surgeries in countries such as the U.S. and Brazil. According to the latest report by the International Society of Aesthetic Plastic Surgery, the U.S. leads globally with over 7.4 million procedures, representing 22% of the total procedures. Brazil follows closely with 8.9%, primarily excelling in surgical procedures. Japan accounts for 7.3%. Regarding the number of plastic surgeons, the U.S. and Brazil are estimated to have the highest numbers, with Asian countries such as Japan, China, and South Korea following closely behind in third, fourth, and fifth place, respectively.

Also, the increased research and development efforts by regional players in North America are fuelling the growth in the botulinum toxin market in the region. For instance, in September 2023, Allergan Aesthetics, a subsidiary of AbbVie, announced positive topline results from a second Phase 3 study for OnabotulinumtoxinA, commonly known as Botox Cosmetic. The study focused on its effectiveness in treating platysma prominence, a condition characterized by visible vertical bands in the neck. This development showcases the ongoing innovations in the botulinum toxin market, highlighting new potential applications for Botox Cosmetic beyond its well-known uses in aesthetics.

Key Market Players
The key players in the botulinum toxin market include:
• Allergan, Inc.
• Merz Pharma GmbH & Co. KGaA
• Ipsen Group
• Revance Therapeutics, Inc.
• Medy-Tox, Inc.
• Hugel, Inc.
• Galderma
• Us Worldmed, Llc
• Evolus, Inc.
• Daewoong Pharmaceutical

Recent Developments
June 2023
Evolus, Inc. launched Nuceiva, a botulinum toxin type A product, in the Italian market. Nuceiva is designed for various aesthetic treatments, and its launch in Italy expands its availability. It offers new options for medical professionals and patients seeking cosmetic enhancements. This expansion signifies Evolus Inc.'s commitment to providing innovative solutions in the field of botulinum toxin products.

May 2023
Daewoong Pharmaceutical, a South Korean pharmaceutical company, invested USD 746 million to expand its production capacity for Botox, a brand of botulinum toxin. This significant investment aims to meet the growing global demand for cosmetic and therapeutic uses of Botox. Daewoong's expansion reflects the rising interest in botulinum toxin products and their applications, indicating a positive trend in the market's growth and development.

June 2022
Galderma announced positive results from two Phase III studies for a novel liquid formulation, indicating a promising advancement in botulinum toxin-based treatments. This innovation showcases Galderma's commitment to enhancing patient experiences and expanding the applications of botulinum toxin-based treatments.

KEY BENEFITS
• The botulinum toxin market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a detailed analysis of the botulinum toxin market trends, including the current and future trends to depict prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the botulinum toxin market is provided in the report.
• The competitive analysis of the players along with their market share in the botulinum toxin is provided in the report.
• The SWOT analysis and Porter's Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.