Botulinum Toxin Market Size By Product (Botulinum Toxin A, Botulinum Toxin B), By Application (Medical, Aesthetic), By Gender (Female, Male), By Age Group (13-19, 20-29, 30-39, 40-54, 55 and Above), By End-use (Hospitals, Dermatology Clinics, Spas & Cosme

Botulinum Toxin Market Size By Product (Botulinum Toxin A, Botulinum Toxin B), By Application (Medical, Aesthetic), By Gender (Female, Male), By Age Group (13-19, 20-29, 30-39, 40-54, 55 and Above), By End-use (Hospitals, Dermatology Clinics, Spas & Cosmetic Centers), COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027

The botulinum toxin market is projected to expand at a significant pace by 2027 owing to the increasing patient preference towards minimally invasive cosmetic procedures, high product usage in non-surgical cosmetic treatments, and increasing application in therapeutic treatments.

Botulinum toxin, also known as BoNT or BTX, is generally produced by clostridium botulinum, which is a gram-positive anaerobic bacterium. In general, it is known as a purified substance which is derived from bacteria. Botulinum toxin injections usually block the nerve signals to the specific muscle in which it has been injected.

The cosmetic form of botulinum toxin, also known as Botox, is one of the most popular injectable cosmetic substances that can temporarily lessen or remove facial wrinkles and fine lines. Some of the routinely treated areas are crow's feet near the eyes, forehead creases, and frown lines. Numerous other areas are also known to be cosmetically treated with the substance, including gummy smiles, lip lines, thick jaw line and thick bands in the neck.

The botulinum toxin market is bifurcated into different segments in terms of product, application, gender, age group, end-use, and regional landscape.

Based on product the market is divided into Botulinum toxin B and Botulinum toxin A. Botulinum toxin B segment accounted for more than $58.5 million in 2020 and is projected to showcase similar growth over the upcoming years. This product type is mostly used for different kinds of muscle diseases. Botulinum toxin B is also considered a possible treatment option for people with cervical dystonia.

With respect to application the market is classified into aesthetic and medical. In 2020, the medical segment accounted for approximately $2.0 billion and will continue to witness robust growth over the following years. The substance is now a commonly accepted treatment in a broad spectrum of ailments and has around 100 potential medical applications. Botulinum toxin has been used in gastrointestinal disorders, pelvic floor disorders, disorders of secretion, and neurological disorders among others.

Based on gender the botulinum toxin market is divided into female and male. Male segment will witness significant market growth of 7.2% over the forecast timeframe.

Talking of age group, the market for botulinum toxin is categorized into 55 and above, 40-54, 30-39, 20-29, and 13-19. The 13-19 years of age group segment is likely to reach more than $26.1 million by the end of 2027.

In terms of end-use, the overall market is spas & cosmetic centers, dermatology clinics and hospitals. Dermatology clinics accounted for $1.7 billion in 2020 and will continue to dominate the industry in the following years.

On the geographical front, in 2020, the Latin America botulinum toxin market held a market share of more than 4.3% and will continue to foresee lucrative growth over the coming time period.

The Middle East & Africa market is expected to grow at a CAGR of around 6.8% over the assessment period. Rising prevalence of numerous cosmetic procedures will contribute towards market growth. Various clinics across the UAE have been providing Botox for over two decades now and have claimed that it is one of the best and most inexpensive non-invasive facelift techniques.