Botulinum Toxin Market Size & Share 2022 to 2030
Market Size by Product (Botulinum Toxin A, Botulinum Toxin B), Application (Medical, Aesthetic), Gender (Female, Male), Age Group, End Use (Hospitals, Dermatology Clinics, Spas & Cosmetic Centers) & Global Forecast.
Report ID: GMI3408
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Published Date: May 2022
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Report Format: PDF
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Authors:
Mariam Faizullabhoy, Gauri Wani
Botulinum Toxin Market Size
Botulinum Toxin Market accounted for about USD 5.9 billion in 2021 and is estimated to grow at 6.9% between 2022 to 2030 owing to the rising demand for minimally invasive or non-invasive surgeries in cosmetology. Furthermore, increasing application in cosmetics surgeries coupled with growing R&D initiatives are expected to expand the therapeutic applications.
For instance, in 2020, according to the America Society of Plastic Surgeons, nearly 10.4 million minimally invasive procedures including facial rejuvenation were performed among females in the U.S. only. Furthermore, increasing R&D initiatives to expand the therapeutic applications of botulinum toxin and rising incidence of aesthetic problems such as lateral canthal lines and crow’s foot are some of the major factors contributing to the growth of botulinum toxin market in the projected timeframe.
Botulinum toxin is a neurotoxin protein produced by Clostridium botulinum, a gram-positive anaerobic bacterium. Botulinum toxin prevents the release of the neurotransmitter acetylcholine from axon ending at the neuromuscular junction. This is a non-invasive cosmetic procedure and is used to reduce facial fine lines, forehead creases, wrinkles, crow’s feet among others.
The emergence of COVID-19 pandemic has negatively impacted the global market. Various non-emergency surgical and treatment producers as well as non-invasive procedures were delayed owing to the increasing number of COVID-19 cases in 2020. These procedures fall under elective surgical procedures and are not considered as critical lifesaving surgical procedures.
For instance, according to the America Society of Plastic Surgeon report, nearly 13% dip were observed in botulinum toxin procedures in 2020. As a result of procedural deferral, various companies witnessed a dip in the sales of botulinum products, thereby negatively impacting the market growth in 2020. However, with the launch of new vaccines and continuation of botulinum toxin surgeries, the market is expected to resume to pre-COVID levels from 2021 and onwards.
Growing demand for non-invasive surgeries is expected to spur the market growth
Individuals aged above 40 years are focusing on the physical appearance and wish to remain young-looking. Thus, growing emphasis on aesthetic features by women, especially in developed countries is anticipated to stimulate the botulinum toxin market growth.
Also, botulinum toxin is used to treat several age-related conditions such as forehead lines, glabellar lines, crow’s feet, and others. Hence, people above the age of 40 are prone to such signs of ageing. Therefore, botulinum toxin procedures are gaining more importance among the population aged between 40-54 years, thereby augmenting the market growth. Furthermore, increasing prevalence of neurological disorders will also drive the market growth.
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.
Botulinum Toxin Market Share
Major players operating in the botulinum toxin industry include:
These players opt for various inorganic growth strategies such as partnerships, collaborations, mergers and acquisitions, and product launch initiatives to create a global footprint and industry competition.
Some of the recent industry developments:
The botulinum toxin market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2022 to 2030 for the following segments:
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By Product
By Application
By Gender
By Age Group
By End-use
The above information is provided for the following regions and countries:
By Region
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