Botulinum toxin A and B are prescription medicines which need to be administered under medical supervision on account of the severe drug-related adverse events such as headache, dysphagia, nausea, the spread of toxic effects, etc.
Botulinum toxin A is reigning the product segment for the botox medical market. The constant rise in the elderly population worldwide and increasing disposable income among the generation y population together provide a positive thrust for the botox medical market growth. It is a protein neurotoxin that has a molecular size of 150 KDa and exhibits its pharmacological activity by blocking the neuromuscular transmission by binding to the acceptor sites of motor or the sympathetic nerve terminals. It has a diverse clinical application for the treatment of overactive bladder, chronic migraine, axillary hyperhidrosis, etc. Botulinum toxin B is going to record excellent market growth during the forecast period owing to the positive clinical studies investigation indicating its therapeutic efficacy in the treatment of cervical dystonia in the adult population worldwide.
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Dermatology clinics are currently dominating the end-user segment for the botox medical market. A significant increase in the baby boomer population worldwide having a tremendous inclination for botulinum treatment to enhance the skin tonicity and increasing facial aesthetics by diminishing the aging process and wrinkles on the facial skin surface. Hospitals are expected to record steady market growth in the near future on account of the significant rise in the number of patients visiting hospitals for administering botulinum toxin injection for the treatment of medical conditions such as overactive bladder and cervical dystonia in adult population throughout the globe.
North America is presently leading the geography segment for the botox medical market. The availability of large disposable income and the influence of social media and facial aesthetics products have a positive impetus on the botox medical market growth in the region. Existence of developed healthcare infrastructure and the presence of major players such as Allergan, Plc. (Abbvie, Inc.), Galderma S.A., US Worldmed LLC., Evolus, Inc. further propel the market growth in the region. Europe is the 2nd largest regional segment for the botox medical market. Rising prevalence of cervical dystonia and hyperactive urinary bladder primarily drives the market growth in the region. The Asia Pacific is anticipated to be the fastest-growing regional segment in the botox medical market. Increasing public awareness regarding the clinical application of botox in the treatment of chronic migraine and axillary hyperhidrosis steers the market growth in the Asia Pacific region.
Pharmaceutical manufacturers actively engaged in the production of botox medical are Allergan, Plc. (Abbvie, Inc.), Eisai Co. Ltd., US Worldmed LLC., Galderma S.A., Evolus, Inc., Hugel, Inc., Ipsen Limited (Mayroy SA)., Medytox, Inc., Merz Pharma., and Revance Therapeutics, Inc.
Key Market Movements:
- Increasing demand for facial aesthetics among the geriatric population worldwide
- Significant increase in cervical dystonia and overactive bladder further accentuates the market growth
- Supportive regulatory environment for the early adoption of botulinum toxins for medical purpose further propels the market growth