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 Reportsanddata. 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 #cosmeticsurgery.
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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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.
- Allergan, Merz Pharma (Schweiz) AG, Medytox, Lanzhou Institute of Biological Products Co. Ltd., Hugel Aesthetics, Inc., Revance Therapeutics Inc., US WorldMeds, LLC, Ipsen Group, Eisai US 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.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
Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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