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Botox Market Analysis, Segments, Size, Share, Industry Growth and Recent Trends by Forecast to 2028

Reports And Data

Reports And Data

Increasing medical tourism in various developing countries, especially in Asia Pacific

NEW YORK, NY, UNITED STATES, January 12, 2022 /EINPresswire.com/ -- The global Botox market is expected to reach USD 5.2 Billion in 2028 and is expected to register a steady revenue CAGR of 5.7% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth include increasing FDA approvals for Botox products, increasing focus on physical appearance among consumers, and rising demand for cosmetic surgeries.

Botox is a drug acquired from botulinum toxin produced by a bacterium, clostridium botulinum, and is one the most widely researched drug worldwide. Botox is predominantly used for reducing facial wrinkles and fine lines, crow’s feet, horizontal creases, improving hair growth, and for treating various medical conditions such as cervical dystonia, chronic migraine, and spasticity. Revenue growth of the global market is attributed to factors such as increasing demand for enhanced aesthetic appearance, effectiveness of Botox treatment for various chronic pain disorders, availability of latest cosmetic treatment facilities, and improving standard of living. Other factors such as increasing investments to develop enhanced products and treatments, entry of new companies, and ongoing research on treating necrotizing fasciitis with the treatment are expected to boost market growth during the forecast period.

However, factors such as high cost of the procedures, requirement of repeated treatments, possible side effects such as headache, teary eyes, dry eyes, swellings, and lack of well-developed infrastructure in certain developing countries are factors that can restrain global market growth going ahead.

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Top companies profiled in the global Botox industry analysis report:

Allergan, Merz Pharma, Medytox, Lanzhou Institute of Biological Products Co. Ltd., Hugel, Inc., Revance Therapeutics Inc., WorldMeds, LLC, Ipsen Group, Eisai Co., Ltd, Evolus, Inc. Pfizer Inc., AbbVie, Solta Medical, Syneron Candela, Galderma, and Lumenis are some of the key companies operating in the Botox market.

The global pharmaceutical and healthcare industry has gained significant momentum since the COVID-19 outbreak. The global health crisis has led to an unprecedented impact on the industry and brought about major disruptions in healthcare technologies. Growing prevalence of chronic and infectious diseases worldwide, increasing cases of COVID-19 infections, enforcement of stringent norms and regulations by world-leading healthcare regulatory authorities, and increasing government initiatives towards public safety measures are major factors contributing to industry revenue growth. Rising focus of pharmaceutical companies on vaccine development, increasing COVID-19 support from international health agencies, rapidly increasing pharmaceutical and biotechnological research & development activities, and growing healthcare expenditure of consumers further propel the industry revenue growth.

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Some key highlights of the report:

• Among the product type, the botulinum toxin-A segment is expected to account for largest revenue share between 2021 and 2028 owing to rapid advancements in the field, high demand for botulinum toxin-A injection for treating cosmetic imperfections such as forehead creases, fine lines, and wrinkles, diseases such as hyperhidrosis, blepharospasm, and chronic migraine.

• Based on application, the cosmetics segment accounted for largest revenue share in 2020 and is expected to continue to contribute largest revenue share over the forecast period. Key factors such as growing emphasis on physical appearance among people, rising per capita income, high demand for Botox surgeries and treatment to improve hair growth, reduce facial wrinkles and fine lines, and increasing consumer awareness about various cosmetic procedures are fueling revenue growth of the segment.

• Among the gender type, the female segment is expected to account for largest revenue share during the forecast period owing to factors such as increasing demand for non-invasive surgeries to reduce aging features, improving standards of living, and high demand for skin rejuvenation and tightening.

• Based on end use, the dermatology clinics segment is expected to account significantly larger revenue share over the forecast period owing to factors such as increasing focus on aesthetics and personal appearance, rising demand for Botox treatment to reduce wrinkles, frown lines, wrinkles around eyes, and chin, and increasing awareness about modern cosmetic procedures.

• The market in Europe is expected to register steady revenue growth over the forecast period owing to factors such as higher number of individuals opting for the treatment, increasing prevalence of neurological diseases, high healthcare expenditure, and higher standards of living, rising health and beauty standards, and larger aging population.

• Asia Pacific is expected to register rapid revenue CAGR between 2021 and 2028 due to factors such as increasing focus on personal care and appearance, improving standards of living, increasing aging population, and high demand for minimally invasive surgeries. In addition, increasing healthcare spending, improving healthcare systems, entry of new players, and increasing investments in R&D projects are factors supporting revenue growth of the market in Asia Pacific.

• In May 2020, AbbVie acquired Allergen plc, to enhance its product base and expand new therapeutic areas including Allergen’s medical aesthetic sector.

For the purpose of this report, Reports and Data has segmented the global Botox market based on product, application, gender, end use, and region:

Product Outlook (Revenue, USD Billion, 2018-2028)

• Botulinum Toxin A
• Botulinum Toxin B

Application Outlook (Revenue, USD Billion, 2018-2028)

• Medical
• Cosmetics

Gender Outlook (Revenue, USD Billion, 2018-2028)

• Male
• Female

End Use Outlook (Revenue, USD Billion, 2018-2028)

• Hospitals
• Dermatology Clinics
• Spas and Cosmetic Centers

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Key Regional Markets Covered in the Botox Market Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Frequently Asked Questions Addressed in the Report:

• What is the forecast size and revenue growth rate of the global Botox market?
• What are the leading products offered by the global Botox market players?
• What are the key drivers and restraints for the global Botox market growth?
• Which regional market is expected to register the highest CAGR over the forecast period?
• What are the outcomes of the report’s SWOT and Porter’s Five Forces analyses?

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