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This press release was originally distributed by SBWire
Albany, NY – (SBWIRE) – 01/26/2019 – The global market for botulinum toxin was valued at USD4,527.0 million in 2017 and is expected to reach USD8,718.7 million by 2026, with CAGR of 7.6% from 2018 to 2026. The increase in the prevalence of spasticity and cervical dystonia and the number of migraines is expected to boost the botulinum toxin market during the forecast period. The increased rate of adoption of non-surgical botulinum toxin procedures, because of their noninvasive or minimally invasive nature, is boosting the botulinum toxin market. The increase in the number of the geriatric population in the world and the incidence of aesthetic problems, such as the crow's feet and the lateral canthus lines, are a key factor that should propel the market of botulinum toxin during the forecast period. However, lack of awareness of advances in non-surgical aesthetic and therapeutic procedures is a major factor hindering income generation in the global botulinum toxin market.
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The worldwide market for botulinum toxin has been segmented into product type, application and region. Regarding the type of product, the market was clbadified as botulinum toxin type A and botulinum toxin type B. The segment of botulinum toxin type A had a significant share of the global market in 2017. Increased prevalence Cervical dystonia, spasticity, glabellar lines, the goose paw and the increasing use of botulinum toxin type A are key market factors. The botulinum toxin type B segment is expected to experience a considerable expansion in the compound annual growth rate over the forecast period. The benefits of botulinum toxin type B, such as a faster onset of action and a shorter recovery time, as well as the introduction of new and improved type B products on the market for new indications are major factors that boost the segment. Based on applications, the global market for botulinum toxin has been separated into aesthetic and therapeutic products. The therapeutic segment has dominated the global botulinum toxin market in 2017, due to an increase in the number of migraines and the increasing demand for non-surgical, non-invasive or minimally invasive therapeutic procedures. The aesthetic segment is expected to grow at a higher CAGR during the forecast period, due to the increased prevalence of lateral canthal lines and facial wrinkles.
Transparency Market Research (TMR) has published a new report entitled "Botulinum toxin market: global badysis of the sector, size, share, growth, trends and forecasts, 2018-2026". According to the report, the global market for botulinum toxin was valued at US $ 4,527.0 million in 2017 and is expected to reach US $ 8,718.7 million in 2026, with a CAGR of 7.6 percent over the forecast period. The overall increase in the prevalence of cervical spasticity and dystonia and the increase in the incidence rate of glabellar wrinkles, goose paw and facial wrinkles are fueling the market botulinum toxin. In addition, the ever-growing geriatric global population and the adoption of nonsurgical aesthetic and therapeutic procedures are energizing the botulinum toxin market. North America is expected to dominate the global market for botulinum toxin during the forecast period due to the growing awareness of non-invasive or minimally invasive procedures, aesthetics and non-surgical treatment. The market in Europe is expected to be a lucrative market for botulinum toxin due to the growing demand for botulinum toxin procedures in the region. The Asia-Pacific market is expected to grow rapidly due to the increasing geriatric population and favorable government regulations regarding botulinum toxin procedures. The market in the region is expected to grow with a significant CAGR of 8.7% over the forecast period.
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Increase in the prevalence of aesthetic problems and therapeutic diseases to stimulate the global market for botulinum toxin
The increase in the prevalence of cervical spasticity and dystonia and the increased incidence of glabellar wrinkles and facial wrinkles are key factors in the global market for botulinum toxins. According to the American Association of Neurological Surgeons, spasticity affects more than 12 million people worldwide. In the United States, about 400,000 people have spasticity related to cerebral palsy. According to Brain Foundation, in the United States, the rate of cervical dystonia is about 30 per 100,000. The prevalence of spasticity and cervical dystonia is increasing from year to year, which increases the demand for nonsurgical therapeutic interventions, which stimulates the market. The steady increase in the geriatric population worldwide is a major factor driving the global market for botulinum toxin. According to the United Nations, in 2017, the global geriatric population was 962 million, or about 13% of the world's population, and is expected to reach 2.1 billion in 2050. The growing awareness of the procedure at the Botulinum toxin feeds the market.
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