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WMR-Western Market Research has recently published a comprehensive and exclusive research report, which is an intelligent study covering all key segments. This research report provides breakthrough inputs and insights on market related factors like size, competition, trends, analysis, forecasts etc. The study encompasses primary and secondary data sources along with quantitative and qualitative practices thus assuring data accuracy.
The botulinum toxin market is estimated to represent a global market of USD 3.93 billion by 2017 with growth rate of 8.2%.
Botulinum toxin (also termed as miracle poison) is a type of poisonous biological substance, neurotoxic protein, produced by bacterium Clostridium botulinum species. This species is a gram-positive, spore-forming, anaerobic rod commonly found in soil, plants & in water. Botulinum toxin acts by interfering with neural transmission and blocks the release of acetylcholine which may cause muscle paralysis. This drug is injected into a patient using a 30-gauge 1-inch needle to the affected muscles.
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Growing demand for minimally invasive treatment coupled with increasing therapeutic use of this toxin is further driving the market growth. For example, nowadays, botulinum toxins play a very important role in the management of medical conditions such as focal dystonias, hyperhidrosis, hypersalivation, headaches, and hemifacial spasm. Additionally, the list of possible use of this protein as therapeutic in various disease condition is rapidly expanding which will provide significant growth opportunities for this market to grow. However, high side effects and lack of reimbursement coverage for this treatment hampers the market growth to some extent. For example, most procedures are intended for an aesthetic purpose such as to reduce fat and wrinkles which are not covered by reimbursement policies.
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The product segment is divided as Type A, and Type B. Type A segment is considered to generate a major chunk of the global industry, more than 96% of the revenue share is captured by this segment throughout the forecast period. Growing demand coupled with increasing government approvals of Type A botulinum toxins drive the segment growth. Type A segment is further categorized as Dysport, Xeomin, Botox, and other. Whereas, Myobloc is an example of type B preparation. In terms of end users, the market is categorized as Therapeutic, and Cosmetic applications. Among which, the cosmetic application is accounted for the highest share of the global market. In 2017, this segment achieved USD 2.62 billion and is projected to grow by 8.3% over the study period.
Regionally, North America accounted for the 36.23% share of the global market in 2017. Growing demand for this treatment for aesthetic appearance coupled with increasing disposable income drives the regional growth. Whereas, Europe is projected to capture more than 26% share of the overall industry by 2025. Availability of effective botulinum treatments augments the growth in this region. For example, Dysport, the type A product available in Europe and is widely distributed in 500-unit vials which can be stored at room temperature. Trailed closely by the Asia Pacific, this region is expected to grow with a significant growth rate over the study period. Growing medical tourism industry coupled with increasing geriatric population is anticipated to support the growth. For example, according to the World Bank, more than 25.0% of the Japanese population is over 65 years of age.
Key Vendor Takeaway
Companies namely Allergan, Ipsen Group, Medytox, and Metabiologics are some of the key companies operating in this market. Growing research and activities in collaboration with government organizations helped these companies to attain the notable market position. For instance, in May 2016, Ipsen signed a partnership agreement with the Institute of Molecular and Cell Biology (IMCB) for the study of intracellular trafficking of the Botulinum neurotoxins in the neurons. The partnership is expected to help both the companies expand applications of botulinum toxins.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year-2014 & 2016
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
MARKET, BY APPLICATION
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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