Botulinum Toxin Market will exhibit a CAGR of 7.1% between 2020 and 2030

Posted by omkar on October 21st, 2019

The Global Botulinum Toxin Market size is estimated to be USD 4.61 billion in 2019 and is predicted to reach USD 8.48 billion by 2030 with a CAGR of 7.1% from 2020-2030. Botulinum toxin (BTX), also called as miracle poison, is a neurotoxin that is produced by the bacterium Clostridium botulinum. Botulinum toxin was initially used to treat dystonia, a neuromuscular disorder that produces involuntary muscle contractions or spasms. Currently, this neurotoxin is known for its paradoxical ability to remove wrinkles.

Read Report Overview @

https://www.nextmsc.com/report/botulinum-toxin-market  

Over past few years, there has been a growing number of therapeutic applications for botulinum toxin, including treatment for migraines, leaky bladders, excessive sweating, and cardiac conditions. These increasing number of therapeutic applications propelled researchers to study and identify new versions of this protein. In January 2018, Canadian and American scientists discovered a new source of the botulinum neurotoxin, in a strain of animal gut bacteria known as Enterococcus faecium. According to the recent studies, as botulinum toxin is a powerful and versatile protein therapeutic, discovering more versions of this toxin in nature, can potentially expand and optimize its therapeutic applications, and thus can open new avenues in the market.

Market Dynamics and Trends:

Increasing aging population and rising awareness regarding botulinum toxin procedures in geriatric population, and growing demand for minimally invasive and non-invasive aesthetic and therapeutic procedures are the major factors driving the growth of botulinum toxin market. Additionally, increasing prevalence of spasticity and cervical dystonia and the number of cases of migraine is expected to drive the botulinum toxin market, globally. However, adverse effects such as allergic reactions, rash, neck pain, back pain, difficulty in swallowing, shortness of breath and nausea are hampering the adoption of neurotoxins in therapeutics as well as cosmetic application. Moreover, high cost of these procedures, and poor reimbursement coverage of the products are further expected to restrain the growth of the market.

Extensive research & development is the major focus of most of the players in this market. Companies such as Medytox and Ipsen concentrates on enhancing their research capacity on botulinum toxin products. In March 2018, Huons Global completed patient enrollment for phase 3 clinical studies of Hutox, its botulinum toxin used for forehead wrinkle treatment. Some pharmaceutical companies are also making efforts to launch topical botulinum toxin A. However, developing a topical product with an effective mechanism of action presents a large challenge for the companies. In addition to product development and launches, attention on increasing focus on enhancing international presence, robust marketing, and product reliability, also help the companies in gaining an upper hand over its competitors in the botulinum toxin market.

Request to view Sample Report:

https://www.nextmsc.com/Botulinum-Toxin-Market/request-sample

Competitive Landscape:

Comprehensive competitive analysis and profiles of major market players such as Allergan, Inc., Ipsen Group, Merz Pharma GmbH & Co. KGaA, Medytox, Inc., US Worldmed, LLC, Galderma, Metabiologics, Inc., Lanzhou Institute of Biological Products Co. Ltd. Insys Therapeutics and Revance Therapeutics, Inc. is also provided in this report.