The report provides an in-depth analysis of the global market for botulinum. It presents insights into the growth drivers and restraints that will influence the market’s trajectory between 2016 and 2024.
The global market for botulinum toxin is expected to grow due to the rising awareness about facial aesthetic products among young adults. The growing acceptance of aesthetic injectables is expected to boost the market significantly. Botulinum toxin is commercially known as botox – a name that manufacturers primarily use to market their products. The demand for botox is expected to increase in response to the rising application of the same for treating spasms and dystonias.
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Botulinum toxin is obtained from bacteria clostridium botulinum. It is a neurotoxin protein that has the ability to elevate the lines of aging and sharpen the face profile by tightening the platysmal bands in the neck. Based on commercial types, the global botulinum toxin market is segmented into type A and type B. These botulinum toxin types have medical properties that make them suitable for application in cosmetics, healthcare, and personal hygiene products. However, the increasing report of fatal incidents such as respiratory failures due to the side-effects of botox is likely to hinder the market’s growth over the forecast period.
Regionally, the U.S. is expected to emerge as the most promising market for botulinum toxins due to the robust expansion of the personal care and pharmaceutical industry in the country. In September 2013, the U.S. FDA approved the use of botox for the treatment of crow’s feet in adults. Additionally, the U.S. FDA also framed regulations in 2009 mandating manufacturers to mention boxed warnings on products for customers in order to create awareness about possible side effects.
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Europe also exhibits lucrative opportunities for enterprises operating in the botulinum toxin market. The region boasts a high production base of cosmetic products. Besides this, favorable government policies encouraging FDI in the pharmaceutical industry in India and China are also expected boost the botulinum market in Asia Pacific.
To present a holistic overview of the prevailing competitive landscape in the global botulinum market, the report profiles companies such as Ipsen, Allergan, Merz Pharma, Valeant Pharmaceuticals Inc, US Worldmeds, Lanzhou Institute of Biological Products, and others. Using industry-leading analytical tools the report studies the strengths and weaknesses of the companies profiled. The analysis also helps in identifying the threats and opportunities that the market will potentially face in the forthcoming years.
The aforementioned companies are studied on the basis of their business overview, product portfolio, financial and commercial strategies adopted, and their development status. Most of these companies are expected to witness lucrative opportunities in the developed economies.