Global Botulinum Toxin Market To Reach $ 6.8 Billion By 2027
DUBLIN, July 8, 2021 / PRNewswire / – “Botulinum Toxin – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com offer.
With billions of people self-isolating, now is the time to recover from cosmetic surgery. Botulinum toxin to reach $ 6.8 billion.
Global Botulinum Toxin Market Expected To Reach 6.8 billion US dollars by 2027, behind a post COVID-19 CAGR of 7.2% over the analysis period from 2020 to 2027.
The waitlist for non-essential, non-invasive skin care increased throughout the 1H lockdown of 2020, when all non-essential care services closed.
As new cosmetic surgery clinics open, pent-up demand for beauty procedures is expected to spur growth in 2021. With no vaccine in sight and the pandemic is not set to end soon, living with the virus is the new reality and the normality. As social isolation measures, work from home (WFH) and face mask cultivation extend through 2021, a growing number of patients are expected to take advantage of the opportunity to opt for cosmetic surgeries that take often months to recover from the swelling, changes in skin feel, and bruising of the skin.
The unprecedented social and lifestyle changes triggered by the pandemic provide patients with the perfect opportunity to plan for their post-operative recovery at home without disrupting social or professional life that would otherwise have been affected. The botulinum toxin market will grow from a collapse of -8.6% in 2020 to a rapid recovery of 4.7% in 2021.
Once seen as just a product used by celebrities and affluent members of the aging population, botulinum toxin injections have become a common option used by people to improve their aesthetic appearance. A growing number of people are looking for minimally invasive procedures to improve appearance.
The ease of treatment and increased accessibility to local providers, as well as availability at affordable prices are further expected to contribute to the growth of Botox as a traditional cosmetic treatment in the years to come. In recent years, botulinum toxin injectables and other cosmetic injectables have gained social acceptance. Although in the past these treatments were considered unjustified, these procedures have recently been widely accepted.
Extensive media coverage regarding the benefits of botulinum toxin therapy and the increase in celebrity mentions have contributed to the increase in the number of people undergoing these treatments. People, especially women, consider Botox to be an essential part of their beauty maintenance routines. As botulinum toxin cosmetic treatments do not follow the “one size fits all” approach and require extremely targeted therapy, injectors greatly personalize a treatment procedure in order to achieve patient satisfaction and retention. Technological and product advancements have been instrumental in improving patient outcomes and satisfaction rates. Increasing patient satisfaction rates should ultimately lead to the adoption of Botox.
The pre-pandemic growth drivers that will gradually come into play will include expanding the range of therapeutic indications for botulinum toxin and increasing demand for non-invasive cosmetic treatment solutions. The market will benefit from the growing acceptance of facial injectables, especially BTX to improve facial aesthetics in adults.
With cosmetic indications for BTX ranging from facial wrinkles to eyebrow lines, the rapid aging of the world’s population is emerging as a powerful demographic driver of growth. In addition to cosmetic applications, emerging use as a therapeutic drug in the treatment of urinary incontinence; focal dystonias such as hemifacial spasm; achalasia; hyperhidrosis; chronic anal fissure; and eye motility disorders, will also help drive the market growth. United States represents a major market supported by authorizations for use in new therapeutic indications.
Asia Pacific will grow stronger due to factors such as the growing base of the affluent middle class population with a strong emphasis on maintaining the aggressive marketing appearance of cosmetic surgeries and treatments; the growing acceptance and confidence of physicians in the claimed benefits of botulinum toxin; and increased medical tourism to low-cost Asian countries, especially for elective procedures such as cosmetic surgeries.
The market has long been characterized by enormous unmet medical needs and the resulting strong aesthetic and therapeutic uses of botulinum toxin off-label. Growing use in neurological disorders such as cervical dystonia, blepharospasm, oromandibular dystonia and hemifacial spasm; improving the results of cosmetic btx treatment in people of the age group 40-54 years; and combination therapies will expand the business opportunities for botulinum toxin.
Main topics covered:
1. MARKET OVERVIEW
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND FACTORS
4. WORLD MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Daewoong Pharmaceutical Co. Ltd.
- HUGEL Pharma
- Ipsen Group
- Médy-Tox inc.
- Merz Pharma GmbH & Co. KGaA
- Metabiologics, Inc.
- Revance Therapeutics, Inc.
- United States WorldMeds
For more information on this report, visit https://www.researchandmarkets.com/r/q6ixq7
Research and markets
Laura Wood, senior
For EST office hours, call + 1-917-300-0470
For USA / CAN call toll free + 1-800-526-8630
For GMT office hours, call + 353-1-416-8900
US Fax: 646-607-1904
Fax (outside the United States): + 353-1-481-1716
SOURCE Research and Markets