USD 6.40 Billion
Botox Market Size, Share, Growth Analysis, By Product Type (Type A, Type B), By Application (Therapeutic, Aesthetic), By End User (Hospitals, Clinics / Med Spas and Dermatology / Cosmetology Centers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2296 |
Region:
Global |
Published Date: November, 2024
Pages:
175
|Tables:
90
|Figures:
73
Botox Market Insights
Global Botox Market size was valued at USD 4.1 billion in 2022 and is poised to grow from USD 4.52 billion in 2023 to USD 9.83 billion by 2031, growing at a CAGR of 10.20% during the forecast period (2024-2031).
Botox is a type of protein and neurotoxin developed by the bacterium clostridium botulinum. The toxin is a blocker of acetylcholine that is released from nerves. It can block the neural transmission from the nerve when it is injected into the muscle. In the last few years, the use of botox has increased immensely in cosmetology as it is one of the most popular and widely conducted aesthetic procedures. The rising concern for aesthetic features in developing and developed economies is also increasing the number of cosmetic processes, leading to the growth of the market. At present the demand for less invasive cosmetic surgeries is rapidly increasing. This is also increasing the popularity of botox items as they can be used for various medical diseases along with cosmetic treatments. Minimally invasive processes have many benefits like smaller incisions, reduced hospital stays, better outpatient services, less pain, and minimized risk of infections. The market is also progressing due to the introduction of new medicines, increasing affordability and favorable changes in the reimbursement guidelines. Market leaders are also continuously focusing on innovations and upgrading their product lines for better aesthetics and improved patient therapeutics outcomes.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Type A
Fastest Growth
Therapeutic
Growth Rate
11.5%
Global Botox Market ($ Bn)
Country Share for North America Region (%)
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Botox Market Segmental Analysis
Global Botox Market is segmented by Product Type, Application, End User, and region. Based on Product Type, the market is segmented into Type A (Dysport, Xeomin, Daxxify, Others), Type B. Based on Application, the market is segmented into Therapeutic (Chronic Migraine, Overactive Bladder, Cervical Dystonia, Spasticity, Others), Aesthetic (Glabellar Lines, Crow's Feet, Forehead Lines, Others). Based on End User, the market is segmented into Hospitals, Clinics / Med Spas and Dermatology / Cosmetology Centers, and Other End Users. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Application
Based on application, the market is segmented into therapeutic, aesthetic, glabellar lines, crow’s feet, forehead lines, and others. The therapeutics segment is dominating the botox market. The most robust molecule in the botox market is the botulinum toxin, which has immense possibilities for treating various disorders. The therapeutic advantages of botulinum toxin have massively increased with an in-depth comprehension of different mechanisms of action and molecular behavior. Botox processes are utilized for various kinds of therapeutic and preventive treatments for conditions such as hyperhidrosis, overactive bladders, and chronic migraines. Botulinum toxin has become the foundation beauty sector. The demand for this toxin is increasing for cosmetic therapeutics due to the growing awareness of the way people must appear. These factors are increasing the growth of therapeutics segment in the botox market.
The aesthetic segment is witnessing the fastest growth in the botox market. This growth is mainly owing to the rising awareness about the different kinds of procedures and innovations growing in the aesthetic segment. Furthermore, an increase in the geriatric population is also boosting the demand for the aesthetic segment in the market. Moreover, older elders are also becoming more aware about their appearance and are willingly choosing these skin procedures, to change their appearance. The demand for aesthetic processes has also increased among men. The primary factors that are boosting the demand for these procedures among men are its ease of treatment processes and efficient and timely outcomes. These factors are fueling the growth of this segment in the botox market.
Analysis by End Use
Based on end use, the market is segmented into hospitals, dermatology clinics, and spas & cosmetic centers. The hospital segment is dominating the botox market with the largest market share. Botox therapies offer better patient care, improved operations at point of care, and increase cost savings by improving the operational procedures. Furthermore, the increasing number of therapeutics processes like dystonia, spasticity, chronic migraine and others are being conducted in hospitals increasing its demand. In 2023, the hospitals contributed the most towards the growth of the botox market. This is mainly due to factors like the rising number of surgeries and the presence of skilled professionals. Many governments are also taking favorable initiatives for making the medical aesthetic products readily available, encouraging the promotion of botox in hospitals. These factors are fueling the growth of the segment in the botox market.
The dermatology segment is witnessing the fastest growth in the botox market. Dermatology clinics are used for various cosmetics and medical procedures. People visit dermatologists for reducing skin related problems. Botox is also utilized in dermatology on the upper half of the face for targeting horizontal forehead lines, glabellar frown lines, and lateral canthal lines (Crows feet). Moreover, dermatologists can also suggest injections that can be useful for preventing the formation of wrinkles. It is done by soothing muscles that contribute to aging, particularly in areas that are susceptible to wrinkling because of facial expressions. Moreover, the increasing demand for cosmetic processes, like injections, dermal fillers, laser treatments, and chemical peels have also fueled the demand for dermatology services. Hence these factors are propelling the growth of this segment in the botox market.
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Botox Market Regional Insights
Based on region, North America is dominating the botox market with maximum share. This growth can be attributed to factors like rapid developments in technology, rising awareness about aesthetic processes, and growing demand for minimally invasive methods. Furthermore, the growing number of older adults is also boosting the growth of botox market. This is because people of this age group are more prone to aging signs like wrinkles, scars, and acne. For treating such skin conditions many people prefer cosmetic surgeries, which is positively influencing the growth of botox market in North America. Furthermore, the increasing demand for minimal and noninvasive surgical procedures is also fueling the market growth in the region.
The Asia Pacific region is experiencing the fastest growth in the botox market. The growth is mainly attributed to the increasing of favorable reimbursements, massive patient population, and accessibility to advanced medical care in several regions. In countries like South Korea, China, and Japan people are more conscious about beauty and aesthetically aware. The desire to improve appearance is boosting the growth of the botox therapies in these regions. Furthermore, there are also an increasing number of medical spas and cosmetic centers in countries such as Thailand, Singapore, and Malaysia, which is boosting the growth of the market in these regions.
Global Botox Market Market By Geography
- Largest
- Fastest
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Botox Market Dynamics
Drivers
Increasing Demand for Cosmetic Procedures
- The rising demand for cosmetic procedures globally is substantially boosting the botox market. With a shift in societal norms, the demand for non-surgical and minimally invasive procedures is increasing. These processes are being widely accepted as they enhance physical attractiveness. The popularity of botox injections is increasing rapidly as it helps to reduce wrinkles and fine lines.
Technological Innovations in Product Development
- The botox market benefits immensely from constant technological enhancements in product innovations and delivery technologies. Botox therapies have become more popular among people as their manufacturing procedures have been improved. These advanced new products offer long-lasting benefits with less side effects. Developments in delivery systems have also enhanced administration accuracy, boosting the safety of therapies.
Restraints
High Expense of Treatments
- One of the primary challenges for the botox market is the high expense of treatments. The botox injections that are categorized as cosmetic operations are not covered by insurance. This problem makes them less accessible to a wide range of people. This financial problem is creating huge restraint in the growth of the botox market.
Increasing Concern for Risk and Side Effects
- Despite the rising popularity of botox treatment it contains huge detrimental impact to the body. This can create possible adverse impacts like swelling, bruising, and in some rare cases severe consequences like toxin dissemination. The negative impacts also consist of discomfort, fever, along with eye moisture or excess tears. These problems prevent many people from going with botox procedures, massively restricting the market growth.
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Botox Market Competitive Landscape
The global botox market is extremely regulated and highly competitive. To mark their presence and gain a substantial share of the market, most of the key players in the market are introducing innovative products on the market. These companies are also engaging into business strategies such as partnerships, collaborations and acquisitions. They are also going into contractual agreements to provide advanced services to the customers. These factors are increasing the growth of botox market.
Top Player’s Company Profile
- Croma Pharma (Austria)
- Dermosistemi (Italy)
- Koru Pharma (Turkey)
- Love Cosmedical (Australia)
- MedicalZone (Turkey)
- Merz Pharma (Germany)
- MesoTech (Italy)
- NeoGenesis (US)
- Nyuma Pharma (Turkey)
- Xcelene (US)
- Revvity, Inc (US)
- Cellerant Therapeutics, Inc. (US)
- StemCell Technologies Inc. (Canada)
- Regenexx (US)
- Mesoblast Limited (Australia)
- OrthoGenics (US)
- Panthera Biopartners (UK)
- Stemson Therapeutics (US)
- Lonza Group AG (Switzerland)
- Macopharma (France)
- Cure Cell (Turkey)
- Celularity (US)
Recent Developments
- In December 2022, Gufic Bioscience and Prime Bio partnered. The goal was to introduce botulinum toxin type A injection India.
- In October 2022, Evolus Inc. commercially introduced its operations in Great Britain. They also hipped their first customer orders for Nuceiva, contributing to the global expansion.
- In November 2023, AbbVie made an announcement about the acquisition of ImmunoGen for $10.1 Billion. This will improve AbbVie’s abilities in solid tumor and hematologic malignancies.
Botox Key Market Trends
- Increasing Use of Preventive Measures Among Younger Generation: The utilization of botox as preventive measures is increasing among the younger generation. This is becoming a huge trend that is propelling the growth of the market. Many people are shifting to botox injections in their twenties and thirties as a prophylactic method for delaying the appearance of wrinkles and fine lines. This is expanding the market’s base and boosting growth.
- Growing Therapeutic Applications of Botox: Botox treatments can be extremely valuable for the treatment of various types of medical diseases, like chronic migraine, spasticity, excessive sweating, and specific eye problems. Botox’s has increased approval for many therapeutic purposes that has grown its commercial reach. They are now fulfilling the demands for a larger patient group who wants to try non-surgical treatments.
Botox Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global botox market growth is increasing due to a surge in geriatric population. Furthermore, increase in collaboration between pharmaceutical companies for development of botulinum toxin products is also propelling market growth. People are also becoming more aware of their physical appearance, resulting in the increasing popularity of botox. Major players in the industry are developing business strategies with product innovation, new product launches, strategic partnerships & collaborations, and joint ventures. They are also offering advanced service launches, and contracts to increase their market presence along with gaining more market share.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.1 billion |
| Market size value in 2031 | USD 9.83 billion |
| Growth Rate | 10.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Botox Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Botox Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Botox Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Botox Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Botox Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Botox Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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