Of late, notable breakthroughs in the field of cosmetology have created a favorable business environment for several cosmetic surgery products. Among these, botulinum toxin has emerged as a game-changing compound in conducting cosmetic, aesthetic, and therapeutic procedures. It is also used in treating fitfulness, chronic migraine, and cervical dystonia. Many healthcare organisations and cosmetology players are funding R&D initiatives to explore further possibilities with botulinum toxin. It is also being used in performing minimally invasive or non-invasive surgeries. Recently, the interest in botox surgeries is also taking precedence. As the overall performance of this compound improves and awareness among customers becomes widespread, the demand for botulinum toxin is set to skyrocket. These factors are collectively enabling the growth of the global botulinum toxin market.
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Growing Non-Invasive Surgical Procedures to Steepen Market Growth Curve
Owing to the botulinum toxin’s applications in cosmetological surgeries, many customers have showcased an interest in the compound. Women aged 40 and above are actively seeking ways to sustain their youthful look and skin. It is being used to treat age-related symptoms such as crow’s feet, forehead wrinkles, and glabellar lines among other related conditions. Many healthcare organisations and industry stakeholders have taken cognizance of these trends. The development of modern non-invasive procedures such as botulinum toxin is set to unlock new opportunities for the market. In this regard, the global botulinum toxin market is poised to thrive during the forecast period.
Increasing Demand for Botox to Create Sound Business Outcomes
Botulinum toxin is widely used in producing botox, one of the most well-known by-products used in cosmetic surgeries. Its therapeutic and cosmetic purposes and dual applications in indications are creating sound demand for botulinum toxin. It is used also used to treat spasticity, cervical dystonia, and chronic migraine. In terms of its therapeutic use cases, many healthcare organisations are conducting focused R&D operations to improve botox’s performance and medical viability. Such efforts are showcasing promising results in clinical research and trial stages. Such developments are poised to create tremendous business outcomes for the global botulinum toxin market in the foreseeable future.
North America to Lead Botulinum Toxin Market Amidst Increasing Aesthetic Surgeries
Increasing disposable income and growing aesthetic surgical procedures are pivoting North America to a leading position in the botulinum toxin market. For instance, over 1.3 million procedures took place in the region in 2019 and the number is said to grow higher in the recent years. Moreover, innovations in cosmetics and medical procedures have made the related technology safer and more accessible. These factors are increasing the demand for botulinum toxin in the region. Elsewhere, Asia Pacific is also expected to perform well due to increasing per capita income and healthcare infrastructure developments.
Leading Market Entities
The most competitive players currently participating in the global botulinum toxin industry include Merz Pharma GmbH and Co. KGaA, Anika, Ipsen Group, Allergan plc, Salix, Sanofi S.A., HUGEL, Inc., Pharmaceuticals, Inc., Galderma S.A., Medytox, Inc., Smith and Nephew plc, and US Worldmed, LLC.
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