Dublin, October 5, 2021–(BUSINESS WIRE)–ResearchAndMarkets.com has added the “Botulinum Toxin Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)” report to ResearchAndMarkets.com’s products .
The botulinum toxin market is valued at US$3.6015 billion in 2020 and is expected to reach US$7.8549 billion by 2026, with a compound annual growth rate of 9.94% during the forecast period.
Individuals’ demand for aesthetics continues to increase, which has created a follow-up demand for botulinum toxin surgeries around the world. Whether in developed or developing countries, people’s attention to appearance is gradually increasing; therefore, the number of cosmetic surgery operations is increasing every year.
According to the latest data from the American Society of Plastic Surgeons (ASPS), among the 2,630,832 cosmetic non-invasive procedures performed in the United States in 2019, botulinum toxin type A topped the list with 1,301,823 operations. The botulinum toxin injection used to treat wrinkles is one of the most commonly performed cosmetic procedures in the world, and it is one of the most common introductory procedures for clinicians seeking to incorporate cosmetic treatment into their practice.
On a global scale, the increasing demand for modern beauty standards has created a huge growth platform for global Botox type A products. In addition, the therapeutic application of botulinum toxin has opened the door to the growth of healthcare platforms.
According to data from the National Clinical Trials (NCT) Registry, as of June 18, 2021, there are more than 312 ongoing and planned clinical trials related to botulinum toxin A across different development stages for various Indications. In addition, in March 2021, Revance announced the long-awaited and longer-lasting neuromodulator drug candidate DaxibotulinumtoxinA for Injection (DAXI), which is a type A botulinum toxin formulated or formulated with new peptide excipients. The combined treatment of brow, dynamic forehead and lateral canthal lines will soon be approved by the FDA. In December 2020, the company announced the results of the second phase of the upper face line study of DAXI. These factors are expected to have a positive impact on the market in the future.
North America is expected to dominate the global market. In the past two decades, the area’s medical aesthetics technology has developed rapidly. Highly advanced technology provides a wide range of products and solutions for patients seeking medical help.
According to data from the American Society of Aesthetic Plastic Surgery, in 2019, 1,301,823 surgeries were performed using botulinum toxin products (Botox, Dyport, Xeomin), accounting for 45% of the country’s total cosmetic surgeries.
With the launch of Jeuveau, competition in the U.S. botulinum toxin market has become increasingly fierce. Evolus Inc. was approved by the U.S. FDA in 2019 for its main product, Jeuveau, for the temporary improvement of moderate to severe glabellar lines related to the activity of adult frown muscles and/or glabellar muscles. Similarly, Daxiong Pharmaceutical also officially launched its botulinum toxin (BTX) strain Nabota in the United States in 2019.
In addition, in April 2021, Aquavit Holdings LLC announced that it has obtained an exclusive license to register, market and commercialize botulinum toxin (DTX-021) in the United States and Canada. Therefore, all these approvals and releases contribute to the growth of the entire market, and the same trend is expected to continue during the forecast period.
4.2.2 Continuously evolving research and development programs to expand the therapeutic application of botulinum toxin
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Post time: Oct-15-2021