Global Botulinum Toxin Market Size, Share, Forecast Report, 2024-2033
The global botulinum toxin market size was exhibited at USD 11.30 billion in 2023 and is projected to hit around USD 29.04 billion by 2033, growing at a CAGR of 9.9% during the forecast period of 2024 to 2033.
Key Takeaways:
Botulinum Toxin Market Report Scope
| Report Coverage | Details |
| Market Size in 2024 | USD 11.30 Billion |
| Market Size by 2033 | USD 29.04 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 9.9% |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Segments Covered | Product, Application, End-use, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
| Key Companies Profiled | Ipsen Group; Allergen Inc.; Medy-Tox, Inc.; Merz Pharma; US Worldmeds; Evolus; Galderma; Metabiologics Inc.; Lanzhou Institute of Biological Products. |
The toxin is a selective blocker of acetylcholine released from nerves, which blocks neural transmission from the nerves when injected into muscle. Botulinum toxin is one of the most exceptional substances encountered in medicine and science. The adoption of botulinum toxin in cosmetology has grown rapidly over the decade, and at present it is one of the most common and widely performed aesthetic procedures in the world. The increasing concern for aesthetic features in developed and developing regions has led to an increase in the number of cosmetic procedures.
The availability of a variety of botulinum toxin products such as botox, xeomin, dysport, and others will accelerate the market growth. The increasing usage of botulinum toxin injection in several aesthetic procedures including the treatment of glabellar lines, chemical browlift, forehead lines, and others is expected to boost the botulinum toxin industry growth over the coming years. Presently, a few products of botulinum toxin - Type-A and only one product of Type-B (Myobloc) are commercially available in the market.
However, rising investment in R&D programs by major manufactures to explore the therapeutic use of botulinum toxin is building opportunities for the expansion of its therapeutic application area in the near future. A shift from invasive to minimally invasive procedures is expected to fuel the market growth over the forecast period. For instance, according to ISAPS, 17,598,888 noninvasive procedures were performed globally in 2021, out of which 5,355,604 were performed in the U.S. A large number of people are opting for permanent procedures, such as fillers, fat grafting, and lip advancement.
Minimally invasive procedures offer advantages such as smaller incisions, shorter hospital stays, quick outpatient services, rapid wound healing, lesser pain, and lower risk of complications than invasive surgeries. Thus, the demand for botulinum toxin is expected to increase over the forecast period. Moreover, many dermatologists believe that COVID-19 may act as a springboard that will drastically increase patient footfall post-pandemic.
According to a survey conducted on 1,000 American women in 2020 by American Society of Plastic Surgeons, 11% of participants indicated that they are more inclined to opt for minimally invasive procedures post-pandemic than pre-COVID-19. Even during the pandemic, Botox and soft tissue fillers remained the most popular minimally invasive procedures in the U.S.
Segments Insights:
End-use Insights
Based on end-use, the market is segmented into hospitals, dermatology clinics, and spas & cosmetic clinics. Cosmetic centers and medspas accounted for the largest market share of 45.0% in 2023. The higher preference for aesthetic procedures in dermatology clinics and cosmetic centers and medspas is significantly contributing to the segmental growth. The segment is likely to grow with a CAGR of 10.2%. Plastic surgeons and medical spa owners are seeing an increase in customers. In addition, the rising number of medical cosmetic centers and medspas in regions like Asia Pacific are contributing to the market growth.
The hospital segment accounted for a revenue share of 43.4% in 2023. Rising number of hospitals with advanced care and facilities in developed and developing countries and increasing awareness for aesthetic procedures performed attributes the segment growth. Furthermore, maximum number of therapeutic procedures such as dystonia, spasticity, chronic migraine and others are being performed in the hospitals.
Product Type Insights
The botulinum toxin-type- A segment exhibited the largest revenue share of 98.8% in 2023. Botulinum toxin A is anticipated to grow at a significant rate due to rise in customer preference owing to advantages including minimal pain, no blood loss, and lack of scarring during the procedure. Botulinum toxin type-A has been increasingly utilized to treat chronic migraine, tension-type headache, and other primary neurological disorders.
Botulinum toxin-type- A products are adopted for range of therapeutic and aesthetic applications, and with the rising demand for aesthetic beauty, the segment is likely to grow further in the near future. Based on product, the botulinum toxin sector is classified into botulinum toxin type-A and botulinum toxin type-B. Also, various botulinum toxin type-A products are commercially available in the market including Botox and Dysport have been clinically tested proven to be safe and effective in long-terms with least side effects.
Application Insights
Based on application, botulinum toxin sector is segmented into aesthetic and therapeutic applications. The aesthetic segment is expected to witness a significant CAGR of 10.2% during the forecast period. Botulinum toxin (BoNT), a bacterially produced neurotoxin, is a mainstay in the cosmetology armamentarium. The rising consciousness for aesthetic appearance and rising technological advancements in developed and developing countries has led to an increase in the number of cosmetic surgeries.
The therapeutic application segment accounted for 43.0% of the market share. Botulinum toxin is known to be the most potent known biological neurotoxin molecule, and holds great promise in the treatment of many disorders. The therapeutic benefits of botulinum toxin have been diversifying due to deeper understanding of its different mechanisms of action and molecular behavior. Botox procedures are adopted for various therapeutic and preventive treatments for disorders such as chronic migraine, conditions such as hyperhidrosis, over-reactive bladders, and others.
Regional Insights
North America accounted for a significant revenue share of 47.0% in 2023 and is anticipated to reach USD 5.1 billion by 2033 owing to increasing disposable income and growing number of cosmetic procedures. For instance, in 2019, as per the American Society of Plastic Surgeons (ASPS), 1.3 million surgeries were performed with botulinum toxin products. Thus, increasing use of botulinum toxin products in various cosmetic procedures performed in the region will stimulate the North America botulinum toxin industry growth.
The Asia-Pacific region is expected to witness the highest CAGR of 11.1% over the forecast period owing to a favorable reimbursement, large patient population, and availability of developed healthcare facilities in many countries. In countries, like South Korea, China, and Japan, there is higher beauty consciousness and aesthetic awareness, hence likely to drive the market growth. Furthermore, there is rising number of medical spas and cosmetic centers in countries like Thailand, Singapore, and Malaysia. These are the factors that are expected to drive the botulinum toxin sector in the region.
Some of the prominent players in the botulinum toxin market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global botulinum toxin market.
Product Type
Application
End-use
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
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Additional Countries (Apart
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Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers