Global Botulinum Market is Expected to Reach at a CAGR of 8.16% from 2018 to 2025
A new research report published by Fior Markets with the title Global Botulinum Market by Product Type (Type A, Type B), End Use (Therapeutic, Aesthetic), Regions, and Global Forecast 2018-2025.
As per the report, the global bolulinum market is expected to grow from USD 4.26 Billion in 2017 to USD 7.96 Billion by 2025, at a CAGR of 8.16% during the forecast period from 2018-2025. North America emerged as the leading market for the botulinum with a 46.37% share of market revenue in 2017. Whereas Asia Pacific region is expected to grow at the fastest CAGR of 11.04% over the forecast period.
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Major players in the global botulinum market are Allergan, Inc., Ipsen Group, Merz Pharma GmbH & Co. KGaA, Medytox, Inc., US Worldmed, LLC, Galderma, Metabiologics, Inc. (US), Lanzhou Institute of Biological Products Co. Ltd., Revance Therapeutics, Inc., Huons Global, Evolus, Inc, Hugel among others. To satisfy the ever rising demand for the botulinum for the aesthetics applications, major firms are increasingly launching newer products. For instance Evolus Inc in 2019, announced that it has received the US FDA approval for the launch of Jeuveau. Jeuveau has application in the treatment of temporary improvement in the appearance of moderate to severe glabellar lines associated with corrugator and/or procerus muscle activity in adults.
Product type is segmented in to type A and type B. Type A botulinum products such as Botox and Dysport are easily available in the market. These products are widely used in the removal of glabellar lines as well as in treating medical conditions such as severe primary axillary hyperidrosis, blepharospasm and cervical dystonia. On account of these aforementioned factors type A product segment emerged as the leader in global otulinum market with an 82.62% share of market revenue in 2017. Owing to to its rising application in the treatment of cervical dystonia, the type B segment is projected to grow at an increased CAGR of 10.79% over the forecast period. End Use segment is divided into aesthetics and therapeutic. Aesthetics segment led the global botulinum market with a 62.71% share of the revenue in 2017. Increased utilization of botulinum products in the treatment of medical conditions such as blepharospasm, cervical dystonia and hyperdrosis is anticipated to propel therapeutic segment to grow at the highest CAGR of 10.49% over the forecast period. Owing to its immense application value in treating frown lines, crow’s feet lines, and glabellar lines, the aesthetics segment emerged as the leading segment with USD 2.67 billion revenue in 2017.
Increasing preference to minimally invasive surgical procedures and growing use of botulinum for therapeutic applications are driving the global botulinum market. On the other hand unintended side effects of botulinum as well as dearness of botulinum procedures are proving to be the major roadblocks for the market growth.
About the report:
The global botulinum market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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