Analysis by Product Type (Botulinum Toxin A, and Botulinum Toxin B); by Application (Medical, and Aesthetic); by Gender (Female, and Male); by Age Group (13-19, 20-29, 30-39, 40-54, 55, and Above); and by End-User (Hospitals, Dermatology Clinics, Spas, and Cosmetic Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global botulinum toxin market is estimated to garner a revenue of ~USD 10 billion by the end of 2033 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 4 billion in the year 2022. The growth of the market can be attributed to the globally increasing proportion of the geriatric population, which is more prone to deal with numerous health and skin issues. Further, the rising demand for minimally invasive or noninvasive surgeries such as - glabellar lines, and chemical browlift treatments is estimated to propel market growth during the forecast period. As per the estimations, it is found that noninvasive treatments such as dermal fillers and botox rose by over 180% in the United States, and in 2018 more than 70% of U.S surgeons noted the increase in the use of injectables among people under 30 years.Get more information on this report:Download Sample PDF
In addition to these, factors that are believed to fuel the market growth of botulinum toxin include the rising ratio of people who are dealing with premature aging issues or photoaging, since the premature aging issue is such a significant factor that has been playing a pivotal role in the surging level of various kinds of cosmetic surgeries. Additionally, soaring investment by the major key players to enhance the research and development, coupled with growing expenditure for developing advanced healthcare infrastructure, and rising amendments in reimbursement policies to cover the botulinum procedures and injections are anticipated to present the potential for market expansion over the projected period. Besides this, a worldwide surge in healthcare expenditure is also estimated to expand the market size of botulinum toxin in the coming years.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~9% |
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Base Year Market Size (2022) |
~ USD 4 Billion |
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Forecast Year Market Size (2033) |
~ USD 10 Billion |
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Regional Scope |
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Growth Drivers
Increasing Disposable Income of Individuals – Botox is an expensive treatment, and not everytreatments are estimated to propel market growth during the forecast period. The disposable income of the U.S. rose from -0.4% in Jun 2022 to 0.1% in Aug 2022 as per the Bureau of Economic Analysis.
Growing Prevalence of Neurological Disorders – As per medical terms, neurological diseases are issues that impact the brain as well as the nerves found throughout the human body, including the spinal cord. A variety of symptoms can be triggered by structural, metabolic, or electrical dysfunctions in the brain, spinal cord, or other nerves. The surging prevalence of this condition is expected to boost the growth of the market. As per the observations, more than 18 million Americans suffer from some kind of neuropathy issue, and over 15% of U.S households have at least one person with a brain impairment disorder. Thus, the demand for botulinum toxin has been massively increasing. As botulinum neurotoxin A (BoNT/A) has transformed the treatment of dystonia and focal spasticity by becoming a helpful tool in the treatment of neurological illnesses related to increased muscular tone.
Rising Number of Product Approvals and Launch – For instance, it has been estimated that the number of Botox injections rose by about 450% between 2000-2020 across the globe.
Increasing Number of Cosmetic Surgeries – It is estimated that in the U.S. in 2020, more than USD 15 billion was spent on aesthetic treatments.
Elevating Use of Botulinum Toxin Injection for the Treatment of Glabellar, Chemical Browlift, Perioral, and Periorbital Lines – For instance, nearly 85% of the 15 million cosmetic procedures done are minimally invasive, such as botulinum toxin or soft tissue filler injections.
person is able to afford it. On the other hand, with rising disposable income, people are focusing more on how they look and are willing to spend on facial treatments. Botox costs about USD 10-15 per unit anywhere across the globe, and more than USD 400 for the full treatment. The rising adoption of minimally invasive procedures and the high willingness of people to spend on aesthetically looking
Challenges
The global botulinum toxin market is segmented and analyzed for demand and supply by end-user in hospitals, dermatology clinics, spas, and cosmetic centers. Amongst these four segments, the hospitals segment is anticipated to hold the largest market size by the end of 2033. The growth of this segment can be attributed to the increasing number of hospitals with advanced cases and facilities, followed by the rising awareness regarding aesthetic procedures in individuals. For instance, the number of hospitals in the United Kingdom has increased to nearly 29 per one million people in the year 2019. Moreover, a growing number of medical spas and cosmetic centers is another significant factor that is estimated to boost the growth of the market, as the surge in cosmetic centers and spas generate more traction in people to access beauty procedures. For instance, in the U.S. there are about 20,000 health and wellness spas as of 2022.
The global botulinum toxin market is also segmented and analyzed for demand and supply by product type into botulinum toxin A and botulinum toxin B. Out of these, the botulinum toxin A segment is expected to garner a significant share. The significant growth in this segment is backed by the escalating utilization of botulinum toxin A to treat headaches as of hypertension, chronic migraine, and several primary neurological diseases. In addition to these, the penetration of botulinum toxin A products has been growing in the wide range of aesthetic purposes, therefore, the proliferating demand for aesthetic beauty products is also anticipated to fuel the growth of the market during the forecast period.
Our in-depth analysis of the global botulinum toxin market includes the following segments:
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By Product Type |
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By Application |
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By Gender |
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By Age Group |
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By End-User |
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The North American botulinum toxin market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increasing spending capacity of individuals, which has been fueling the urge to be more attractive and to use several aesthetic products to improve their physical beauty. For instance, the consumer spending capacity of U.S. people rose from -0.2% in July 2022 to 0.6% in July Sept 2022, as per the Bureau of Economic Analysis. Further, the rising number of cosmetic procedures to look beautiful, escalating adoption of facial injectables, and the rapid adoption of aesthetic procedures among individuals, are also anticipated to contribute to the market growth in the region. In addition to this, the growing advancements in medical and aesthetic procedures are some more factors that are estimated to propel market’s growth further throughout the forecast period in the region.
Whereas, the Asia Pacific botulinum toxin market is anticipated to witness a larger CAGR over the projected time frame on the back of the presence of a larger patient pool for minimally invasive surgeries, along with, increasing demand for botulinum toxins in the countries such as China, and Japan. Additionally, the highly growing beauty consciousness, coupled with the surge in wellness tourism, is elevating the number of spas, and cosmetic centers in the countries such as Korea, Thailand, Singapore, and so on. These are other significant factors that are projected to propel the growth of the botulinum toxin market during the projected timeframe in the region. For instance, in 2018, the number of wellness spas in the Asia Pacific region reached approximately 93,565. Such an extraordinary boost in the count of wellness spas in this region is indicating a higher increase in the same over the coming years, which is projected to further drive market growth in the region.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Rising disposable income and the growing prevalence of neurological disorders are the major factors driving the growth of the botulinum toxin market.
Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2023 – 2033.
Ans: Associated side effects with the botulinum toxin procedures, and high cost of botulinum toxin methods are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Merz Pharma GmbH & Co. KgaA, USWM LLC, Revance Therapeutics, Inc., Ipsen Group, Medytox, Inc., Hugel, Inc., AbbVie Inc., Galderma S.A., Evolus, Inc. and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, application, gender, age group, end-user, and by region.
Ans: The hospitals segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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