Botulinum Toxin Market: Drivers

Increasing number of procedures with botulinum toxin along with increasing approved indication is expected to drive growth of the global Botulinum Toxin Market. Frequent approvals of novel botulinum toxin products for different indications are expected to drive growth of the Botulinum toxin market in near future. For instance, in 2016, Ipsen S.A. received the U.S. Food and Drug Administration (FDA) approval for its Dysport (abobotulinumtoxinA) injection indicated for the treatment of pediatric lower limb (PLL) spasticity in children of age two years and older. In 2017, company received the FDA approval for same product to use in adults. In 2017, Allergan plc. received FDA approval for BOTOX Cosmetic (OnabotulinumtoxinA) for new indication in forehead lines, and previously the product has been approved for the treatment of , crow's feet lines, and glabellar lines. With this approval company has 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. In 2014, Allergan Inc. received approval for its BOTOX (Botulinum toxin type A) from Medicines and Healthcare Products Regulatory Agency (MHRA) in U.K. BOTOX was approved in the U.K. for treatment of ankle disability 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 introduced 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 U.S. FDA approval for Xeomin (incobotulinumtoxinA) indicated for the treatment of upper limb spasticity (ULS) in adult patients.

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Furthermore, increasing trend of botulinum toxin in cosmetic procedures is also expected to increase the growth of botulinum toxin market in near future. For instance, according to a report published by American Society of Plastic Surgeons in 2016, around 7,056,255 cosmetic minimally-invasive procedures were performed with Botulinum toxin Type A (Botox, Dysport, and Xeomin), there was an increase of 4% in procedures as compared to 2015.

Botulinum toxin is a product produced by naturally occurring Clostridium botulinum bacteria. This bacteria is found in soil and marine sediments and can produce harmful neurotoxin botulinum toxin. Botulinum toxin is a ‘blocking agent’ which inhibits the release of certain neurotransmitters, specifically acetylcholine, from the endings of the motor nerves. There are about eight types of botulinum toxin named from type A to H. Botulinum toxin type A and botulinum toxin type B are majorly used in cosmetic procedures for the treatment of various facial conditions, its commercially marketed under the brand name Botox. Botulinum toxin type A and B are also used in medical applications for treatment of various diseases such as dystonia, chronic migraines, and spasticity.

Botulinum Toxin Market: Regional analysis

North America is expected to hold a dominant position in the global botulinum toxin market, owing to increasing trend of cosmetic procedures in the region. For instance, according to a report published by American Society of Plastic Surgeons in 2016, around US$ 16.4 billion was spent on cosmetic procedures in the U.S. and in 2017, around 7.2 million botulinum injections were used in the U.S. for cosmetic procedures. Increasing number of cosmetic procedures in the key region of North America is expected to drive the growth of the botulinum toxin market in near future. Furthermore, Asia Pacific is expected to show rapid growth in botulinum toxin market, owing to increasing R&D and approval of novel products in China.

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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.

Botulinum Toxin Market: Key Players

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. Major players in market are involved in strategic collaborations to develop new products. For instance, in February 2018, Mylan N.V. and Revance Therapeutics, Inc. underwent strategic collaboration and license agreement for the development and commercialization of a proposed biosimilar to BOTOX (onabotulinumtoxinA). Furthermore, key players are focusing on receiving approvals of its product in key market to expand their presence in global market. 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.

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