Botulinum Toxin Market Analysis

Botulinum Toxin Market Analysis

High cost associated with the botulinum toxin procedures may hinder the market growth in the forecast timeframe. For instance, in 2020, according to the American Society of Plastic Surgeons, the average cost of botulinum toxin injection is USD 446 which is further associated with surgeon’s fee. Moreover, it is not a permanent procedure and requires repeated treatments that includes additional cost.

Low affordability of these procedures in the lower income group from emerging countries may restrict market growth opportunities. The cost of botulinum toxin injections depends on a few factors such as how advanced the wrinkles and fine lines are, or how aggressively people want to treat the areas of concern and therefore the amount of product used.

Based on product, the botulinum toxin market is classified into botulinum toxin A and botulinum toxin B. The botulinum toxin A segment accounted for USD 5,840.4 million market revenue in 2021. Botulinum toxin A is estimated to progress at robust rate due to high customer preference owing to benefits including no blood loss, minimal pain and lack of scarring during the procedure. Also, various botulinum toxin A products are commercially available in the market including Botox and Dysport and have been clinically proven to be effective, safe in long terms with minimal side effects.

The botulinum toxin market by application is segmented into therapeutic and aesthetic applications. The aesthetic application segment is expected to witness a lucrative CAGR of 6.2% during the projected timeframe. Increasing concern for aesthetic appearance in developed and developing regions has led to a rise in the number of cosmetic surgeries.
 

Also, the availability of a variety of products such as botox, dysport, and xeomin among others will accelerate the industry growth. Further, increasing usage of botulinum toxin injection in various cosmetic procedures including the treatment of glabellar, chemical browlift, perioral and periorbital lines among others is expected to accelerate the botulinum toxin market share over the coming years.
 

Based on gender, the female segment dominated the global market with the share of 93.1% in 2021 and is expected to witness lucrative growth in the forecast period. This is mainly due to the rising trends in females for skin rejuvenation at middle-age coupled with the increasing number of aesthetic surgeries.
 

For instance, according to the Aesthetic Society report, more than 4.1 million females underwent botulinum toxin surgery in 2020. Also, the female’s group have signs of ageing such as forehead lines, frown lines and crow’s feet among others. Thus, with the help of botulinum toxin products such signs can be reduced.
 

The botulinum toxin market based on age group is segmented into 13-19, 20-29, 30-39, 40-54 and 55 & above. The age group between 40-54 years is expected to exhibit lucrative market growth of 6.9% during the forecast years. Growing application of botulinum toxin to reduce signs of ageing has driven the adoption rate of botulinum toxin in this age group segment.
 

For instance, the age group populations between 40-54 years are prone to ageing sings such as frown lines, crow’s feet, and forehead lines. According to the Aesthetic Society report 2020, more than 2.5 million females aged between 40-54 years underwent botulinum toxin surgery in 2020. Therefore, they opt for botulinum toxin procedure to reduce such ageing signs.
 

Based on end-use, the dermatology clinics segment dominated the market and accounted for USD 2.8 billion in 2021. Rising dermatology clinics in developed and developing countries owing to increasing awareness for cosmetic procedures is expected to boost the botulinum toxin market revenue.
 

Furthermore, high patient preference for dermatology clinical for cosmetic surgeries and the state-of-art facility to enhance their aesthetic appearance is significantly contributing to the segmental growth. Also, various treatments such as cervical dystonia, hyperhidrosis, overactive bladder, and lazy eye among others is expected to increase foster the demand for minimally invasive treatment that are being performed in dermatology clinics.
 

North America botulinum toxin market accounted for significant revenue in 2021 and is anticipated to reach USD 8.3 billion by 2030 owing to increasing disposable income and growing number of cosmetic procedures. For instance, in 2019, according to the American Society of Plastic Surgeons, 1.3 million procedures were performed with botulinum products, accounting for 45% of total aesthetic procedures in the U.S.
 

Thus, rising usage of botulinum toxin injection in various aesthetic procedure performed in the regional will spur the North America botulinum toxin industry growth. Furthermore, in past few years, there has been a rapid advancement in medical and aesthetic procedures. The advanced technologies have introduced a wide range of solutions and products to patients seeking medical assistance.