Pune, India, April 12, 2021 (GLOBE NEWSWIRE) -- Global Botulinum Toxins Market 2021 size will witness considerable growth in the coming years due to the inflating demand for botulinum toxinns across the world. The global botulinum toxin market size is projected to reach USD 7.71 billion by 2027, exhibiting a CAGR of 7.5% during the forecast period. Proven effectiveness of botox in treating chronic pain disorders will be a major factor propelling the growth of this market, states Fortune Business Insights™ in its report.
Escalating Demand for Botulinum Toxin Procedures to Create Attractive Growth Opportunities
The rising demand for improved aesthetic appearance has created a subsequent demand for botulinum toxin industry procedures around the world. Fortune Business Insights has identified increasing demand as one of the primary factors that are contributing to the growth of the global market. As far as therapeutics are concerned, the botulinum toxin holds massive potential with more than 100 approved botulinum toxin associated therapeutics existing in the market. Besides currently approved methods, there a host of therapeutic procedures that have lined up for clinical trials. The aforementioned factors will favor growth of the global botulinum toxins market in the forthcoming years.
Leading Players operating in the Botulinum Toxin Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Ipsen Pharma
- Merz Pharma
- US WorldMeds, LLC (Solstice Neurosciences, LLC)
- Galderma laboratories
- Lanzhou Institute of Biological Products Co., Ltd.
- Revance Therapeutics, Inc.
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Botulinum toxins are widely used for improving aesthetic appearances. The effectiveness of botulinum toxins in aesthetic applications such as treatment of moderate to severe glabellar lines have significantly contributed to the global botulinum toxin market growth. Anticipated regulatory approvals in therapeutic applications have led to significant botulinum toxins market growth. The increasing research and development initiatives aimed at the betterment of existing treatment methods, in addition to new methods, will favor growth of the market in the coming years. The high effectiveness of botulinum toxins in therapeutic applications have significantly contributed to the botulinum toxin market growth.
The growing awareness regarding side effects of botulinum toxins in developed as well as developing nations have will create several growth opportunities. Botulinum toxin is widely used for treating facial wrinkles and improving facial structures. The adoption of botulinum toxin industry is high in the United States, and this will favor the growth of the botulinum toxins market in North America.
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Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
Increasing Product Launches Will Account for Substantial Growth
The high demand for botulinum toxin has led to several product innovations. Resulting from the high demand, there has been a subsequent rise in the number of product launches worldwide. Fortune Business Insights predicts that increasing product launches will constitute an increase in the overall botulinum toxins market value. With several market operators currently operating in the botulinum toxins industry, the market is set to surpass US$ 8000 Mn global value by 2026.
In January 2019, Huons Global announced the launch of a new botulinum toxin product in Korea. The Liztox was designed specifically to treat forehead wrinkles. The company’s plans to extend its sales internationally will favor the global botulinum toxin market in the coming years. Additionally, the company completed several clinical trials for the product and gained approval from the Ministry of Food and Drug Safety in the same year. The report encompasses product launches, similar to Huons’ latest botulinum toxin product and signifies the importance of these products on the global botulinum toxin industry.
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Global Botulinum Toxin Market Segmentation
- Chronic Migraine
- Overactive Bladder
- Cervical Dystonia
By End User
- Specialty and Dermatology Clinics
- Hospitals and Clinics
- Botulinum Toxin Type A
- Botulinum Toxin Type B
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market. Furthermore, the report offers a detailed analysis and information as per Pharmaceuticals Market Growth Analysis by manufacturers, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.
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