Based on Triton’s report, the global botulinum toxin market is expected to advance a growth trend at a CAGR of 10.17% during the forecast period 2023-2030.
Factors such as a surge in demand for aesthetic procedures and a rise in the elderly population fuel the expansion of the botulinum toxin market. Globally, there is a rising demand for aesthetic procedures, and this trend is projected to continue. According to estimates, botulinum toxin is among the leading non-surgical procedures globally. Besides, the demand for minimally-invasive procedures has grown substantially in recent years, which is expected to widen the scope of the studied market.
However, limited reimbursement policies and adverse effects of Botox are anticipated to hamper the botulinum toxin market’s growth. Regional Outlook The global botulinum toxin market covers Latin America, Europe, North America, Asia-Pacific, and the Middle East and Africa regions.
Asia-Pacific is expected to witness the fastest growth over the forecast period. Botulinum toxin remains the top choice for nonsurgical aesthetic treatments in the region, boosted by rising demand among women seeking treatment to enhance features. This surge in interest in modifying facial characteristics aligns with cultural beauty standards, propelling the botulinum toxin market’s expansion. However, alongside this general uptrend in clinical utilization, there has been a simultaneous increase in the availability of counterfeit and imitation products, posing a challenge to the growth of the Asia-Pacific botulinum market. Competitive Outlook The eminent companies in the botulinum toxin market are AbbVie Inc, Evolus Inc, Medytox Inc, Lanzhou Institute of Biological Products Co Ltd, Daewoong Pharmaceutical Co Ltd, Galderma SA, Ipsen Pharma, Hugel Inc, Candela Medical Corporation, Merz Pharma GmbH & Co KGaA, Revance Therapeutics Inc, and US WorldMeds LLC.
Candela Medical Corporation provides medical aesthetic treatment solutions. Its product line includes energy-based devices for benign vascular and pigmented lesions, scars, facial resurfacing, tattoo removal, acne, and cellulite. The company is among the established players in the aesthetic devices industry. Candela serves clients across multiple regions, with headquarters in California, United States.
1. Global Botulinum Toxin Market - Summary
2. Industry Outlook
2.1. Impact Analysis On The Botulinum Toxin Market
2.1.1. Covid-19 Impact
2.2. Key Insights
2.2.1. Growing Demand For Non-invasive Cosmetic Procedures
2.2.2. Surge In Demand For Botulinum Toxin Among Millennials And Gen-z