Seattle, WA -- (SBWIRE) -- 10/16/2019 -- The leading research firm Coherent Market Insights published a research report on "Botulinum Toxin Market Size Analysis and Forecast 2026" which serves with all-inclusive, highly-effective, and thoroughly analyzed information in a well-organized manner, based on actual facts, about the Botulinum Toxin Market. The whole information from scratch to the financial and management level of the established industries associated with the Botulinum Toxin Market at the global level is initially acquired by the dedicated team. The gathered data involves the information about the industry's establishment, market Size, Share, type and the form of products it manufactures, annual sales and revenue generation, the demand of the manufactured product in the market, marketing trends followed by the industry, and a lot more important information.
Botulinum toxin is a neurotoxic protein that is produced by the bacterium Clostridium botulinum and relate species. These bacteria are found in soil and marine residues and can produce harmful neurotoxin botulinum toxin. Botulinum toxin works as a 'blocking agent' to obstruct release of typical neurotransmitters, specifically acetylcholine, from the endings of the motor nerves. There are around eight types of botulinum toxin named from type A to H. Botulinum toxin type A and botulinum toxin type B find major applications in cosmetic procedures for the treatment of various facial conditions and is commercially marketed under the brand name Botox. Moreover, botulinum toxin type A and B are also used in medical applications for treatment of various diseases including chronic migraines, dystonia, and spasticity.
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Market Dynamics:
Increasing approval of innovative botulinum toxin products for different indications are expected to fuel growth of the global botulinum toxin market during the forecast period (2018-2026). For instance, in 2016, Ipsen S.A. received the U.S. Food and Drug Administration (FDA) approval for its Dysport (abobotulinumtoxinA) injection, which is indicated for the treatment of pediatric lower limb (PLL) spasticity in children aged two years and above. In 2017, Ipsen S.A. received the U.S. FDA approval for same product to use in adults. Furthermore, in 2017, Allergan plc received the U.S. FDA approval for BOTOX Cosmetic (OnabotulinumtoxinA), which is indicated for forehead lines. Previously, the product was approved for the treatment of crow's feet lines and glabellar lines. With this approval, the company expanded the indication of its product in the temporary improvement in the appearance of moderate to severe forehead lines associated with frontalis muscle activity in adults. Moreover, in 2014, Allergan Inc. received approval for its BOTOX (Botulinum toxin type A) from Medicines and Healthcare Products Regulatory Agency (MHRA) in the U.K. BOTOX was approved in the U.K. for treatment of ankle disability caused due to lower limb spasticity associated with stroke in adults. In 2016, Daewoong Pharmaceutical Co., Ltd received approval for its botulinum toxin Nabota in Mexico and India. Nabota was launched by Daewoong Pharmaceutical Co., Ltd in South Korea in 2014. In 2015, Merz North America, the U.S. subsidiary of the global Merz Pharma Group, received the U.S. FDA approval for Xeomin (incobotulinumtoxinA), which is indicated for the treatment of upper limb spasticity (ULS) in adult patients. Furthermore, rising trend of botulinum toxin in cosmetic procedures is also expected to drive growth of the global botulinum toxin market in during the forecast period. For instance, according to American Society of Plastic Surgeons' report, in 2016, around 7,056,255 cosmetic minimally-invasive procedures were performed with Botulinum toxin Type A (Botox, Dysport, and Xeomin). According to the same source, there was an increase of a 4% in procedures as compared to 2015. Thus, growing product approvals and increasing number of procedures with botulinum toxin is expected to drive growth of the global botulinum toxin market during the forecast period.
Global Botulinum Toxin Market: Regional analysis
Among regions, North America is expected to hold a dominant position in the global botulinum toxin market during the forecast period. This is owing to rising trend of cosmetic procedures in the region. For instance, according to American Society of Plastic Surgeons' report, in 2016, there was expenditure of around US$ 16.4 billion on cosmetic procedures in the U.S. According to the same source, in 2017, around 7.2 million botulinum injections were used in the U.S. for cosmetic procedures. Increasing number of cosmetic procedures is the key factor driving growth of the botulinum toxin market in the region. Furthermore, Asia Pacific is expected to witness the fastest growth in botulinum toxin market over the forecast period. This growth is attributed to increasing R&D activities and frequent approvals for innovative products in China. For instance, in January 2018, Daewoong Pharmaceutical Co. Ltd., a Korean company, received approval from the Chinese authorities to conduct clinical trials for botulinum toxin Nabota in China.
Global Botulinum Toxin Market: Key Players
Key players in market are focused on various strategies such as partnership and collaborations, in order to develop new products and expand their product portfolio. For instance, in February 2018, Mylan N.V. and Revance Therapeutics, Inc. entered into a collaboration and license agreement for the development and commercialization of a proposed biosimilar to BOTOX (onabotulinumtoxinA). Furthermore, key players are involved in gaining product approvals from regulatory authorities, in order to enhance their market presence. For instance, in February 2018, Medytox Inc. filed a new drug application with the China Food and Drug Administration (CFDA) to its botulinum neurotoxin product Meditoxin in China.
Key players operating in global botulinum toxin market includes Ipsen group, Allergan Plc., Medytox Inc., Merz GmbH and Co. KGaA, US Worldmed, LLC, Lanzhou Institute of Biological Products Co. Ltd., Revance Therapeutics, Inc., and Daewoong Pharmaceutical Co., Ltd.
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Reasons to Buy:
- Establish comprehensive understanding of the pipeline activity across this Botulinum Toxin to formulate effective R&D strategies
- Gather information of the emerging competitors having potentially lucrative portfolio in this space and create effective counter strategies to gain competitive advantage
- Plot corrective measures for pipeline projects by understanding the pipeline depth and focus of Botulinum Toxin therapeutics
- Devise in licensing and out licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and scope
- Modify the therapeutic portfolio by identifying inactive projects and understanding the factors that might have halted their progress
Some Important TOC:
- Market Overview
- Global Botulinum Toxin Market Landscape by Player
- Players Profiles
- Global Production, Revenue (Value), Price Trend by Type
- Market Analysis by Application
- Global Botulinum Toxin Production, Consumption, Export, Import by Region (2013-2018)
- Production, Revenue (Value) by Region (2013-2018)
- Botulinum Toxin Manufacturing Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Market Dynamics
- Global Botulinum Toxin Market Forecast (2018-2026)
- Research Findings and Conclusion
- Appendix
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