Botulinum Toxin Market Outlook, Key Players, Size, Share, Growth, Forecast Report 2023-2032 | MRFR
Botulinum Toxin Market Highlights
Botulinum Toxin Market Size was valued at USD 3.2 Billion in 2022. The Botulinum Toxin market industry is projected to grow from USD 3.5 Billion in 2023 to USD 8.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.80% during the forecast period (2023 - 2032).
Botulinum toxin is known as one of the most poisonous biological substances. It is a neurotoxin produced by the bacterium Clostridium botulinum. There are seven distinct forms of botulinum toxin, types A–G. Four of these (types A, B, E, and rarely F) cause human botulism. Botulinum toxin A and B are used for therapeutic and aesthetic procedures. The increasing cases of spasticity, cervical dystonia and chronic migraine, surge in demand for facial aesthetic, and rising number of product launches and approvals by key players are likely to drive the growth of the global botulinum toxin market during the forecast period.
The market is segmented by application into therapeutic and aesthetics. The therapeutic segment is further divided into chronic migraine, spasticity, overactive bladder, cervical dystonia, blepharospasm, and others. The aesthetics segment is divided into facial line correction, lip enhancement, and others. The demand for non-invasive cosmetic procedures has increased in recent years, leading to a high demand for botulinum toxin products. New product launches, increasing affordability, and amendments in reimbursement policies to cover these products for therapeutic use drive the market’s growth.
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