The Global Neurotoxin Market was valued at USD 4.9 Bn in 2020 and is expected to reach USD 8.2 Bn by 2027, with a growing CAGR of 7.7% during the forecast period.
Global Neurotoxin Market Definition
Neurotoxin is the substance which is obtained from plants or animals (exogenous) that causes damage to the functioning of the peripheral or central nervous system. This toxin adversely affects the functions and development of nervous tissue. Common examples of neurotoxins include snake venom, pesticides, ethanol, nitric oxide, botulinum toxin, tetanus toxin, lead or tetrodotoxin. However, neurotoxins are important in cell communications in the nervous system, which depends on the dosage. Neurotoxins hold huge applications in therapeutics and aesthetic procedures such as botulinum is widely used in diminishing or smoothing lines of the skin when given in specific dose.
Global Neurotoxin Market Dynamics
The driving factors influencing the global neurotoxin market include rising demand for the minimal invasive to non-invasive cosmetic procedures and growing awareness regarding use of neurotoxins in the aesthetic methodologies. For instance, Botox®, a medically clarified Botulinum neurotoxin which is obtained from bacteria is being used alone or in the combination of other products to provide rejuvenation to the face by minimal invasive procedure. Botox® injections helps to reduce muscle contractions which lead to the decrease in wrinkles and lines on the face. Other brands of botulinum toxin include Neucieva, Dysport®, and Xeomin® are largely used in the treatment of mental disorders such as Alzheimers, dementia and in various aesthetic procedures. Moreover, increase in disposable income and growing procedure affordability is expected to fuel the growth of neurotoxin demand in the market.
Growing product launch and investments in enhancing the medical applications of the neurotoxin is expected to propel the growth of the neurotoxin demand in the market during the forecast period. Furthermore, rising awareness about available neurotoxin products for aesthetic procedures is expected to generate high revenue in the neurotoxin market during the forecast period. For instance, in June 2021, Allergan PLC (Ireland) initiated a campaign called ‘See Yourself’ that would enlighten people about the advantages of Botox cosmetic treatments. This campaign promotes the success stories of real Botox cosmetic patients in idea of motivating large number of populations to apply for this treatment. Botox® Cosmetics is the first ever brand that would focus on the unique successful journey of their consumers, and aim to create transparency, emotional connect with all those people who tend to choose aesthetic treatment for themselves. This would develop brand loyalty among customers and help the company to maintain their position in the neurotoxin demand in the market.
On the contrary, high cost of aesthetic procedures and potential side effects associated with Botox therapies are expected to hinder the growth of the neurotoxin demand in the market during the forecast period. Side effects such as difficulty in urination, headache, back pain, sore throat, fever, and allergenic reactions with Botox ingredients are expected to decrease the adoption level of the population which might affect the growth of neurotoxin demand in the market during the forecast period.
Global Neurotoxin Market Segmentation:
By Type
By Applications
By End User
By Region
Company Profiles and Competitive Intelligence
The key players operating in the neurotoxin market are:
Based on applications, aesthetic segment is expected to hold largest market share during the forecast period due to increasing use of botulinum toxins in aesthetic procedures
Based on applications, neurotoxin market is broadly segmented into therapeutic and aesthetic segments. Therapeutic is further sub-segmented into overactive bladder, cervical dystonia, spasticity, chronic migraine, and blepharospasm. Aesthetic segment held largest market share in 2020 due to rise in number of aesthetic procedures such as chemical peels, cosmetic dermatology treatments, dermal filles, and microdermabrasion. For instance, according to the American Society of Plastic Surgeon 2020, more than ~13 Mn cosmetic minimal invasive procedures were performed in 2020 to enhance the body features of the population. Moreover, aesthetic segment is expected to hold largest market share during the forecast period due to growing number of product launch and rising awareness regarding botulinum toxin products and its applications. For instance, in January 2021, Merz Aesthetics (Germany) and Candela Corporation (US) joined hands for the expansion of their product portfolio of skin care products, devices and injectables. This collaboration is expected to enhance their offerings to meet full-spectrum aesthetic care to the end customer. This collaboration is expected to provide better customer access to the innovative aesthetic products across the globe. Such rising invention and research in aesthetic procedures is expected to boost the neurotoxin demand in the market during the forecast period.
Based on end user, hospital & clinics segment is expected to hold largest share in market during the forecast period due to rising number of cosmetic clinics and increasing hospital admissions for aesthetic therapy
Based on end user, medical aesthetic market is segmented into hospital & clinics, beauty centers, and home care. Hospitals & clinic is expected to contribute highest to the market during forecast period owing to increase in number of admissions for plastic surgeries, adaption of spas & clinic and presence of medical infrastructure at one place. Moreover, technological advances in medical devices and availability of trained staff & professionals drives the growth of the neurotoxin market during the forecast period.
Based on region, North America is expected to dominate the market during the forecast period due to increase in disposable income of the population
Based on region, North America held the largest share in the market in 2020 due to increased attention of female population towards beautification that derives the demand for Botox in the North America. According to the study of American Society of Plastic Surgeons, non-invasive cosmetic procedure proves to be the most popular among female population, more likely, ~5 Mn procedure were performed in 2020. Growing inclination towards. Moreover, growing inclination towards non-invasive cosmetic procedure is expected to fuel the growth of neurotoxin market during the forecast period. Furthermore, increasing ageing population and growing healthcare infrastructure is expected to boost the neurotoxin market during the forecast period. For instance, according to American Society of Plastic Surgeons, majority of Botox users fall in the age group of 45-60 years. About 45% of total procedures are performed by this age group. Such growing awareness and availability of products for enhancing external appearance are expected to pull the growth of the neurotoxin demand in the market during the forecast period.
The report also provides in-depth analysis of neurotoxin market dynamics such as drivers, restraints, opportunities, and challenges
Drivers
Restraints
Opportunity
Challenges
COVID-19 Impact on the Neurotoxin Market Analysis
Covid-19 has negatively impacted the growth of neurotoxin demand in the market across the globe. Sudden drop in the sales of botulinum toxin was reported due to the pandemic in 2020 as there was decline in demand and supply of neurotoxin related products. During covid-19 outbreak, first preference was given the health monitoring of covid-19 patients and other surgeries & consulting were kept on hold. Many hospitals and clinics across the globe restructured their healthcare system and facilities towards covid-19 crisis. However, the neurotoxin demand in the market is expected to flourish in coming years after normalization of the situation across the world during the forecast period.
The report also provides an in-depth analysis of key trends in neurotoxin market
| Sr. No. | Trends | Impact |
| 1 | Rising application of neurotoxins in chin implants as fillers for volume effect | Positive |
| 2 | Growing developments in use of fillers in various areas by altering their biological composition is expected to keep trend evolving in creation of new filler that is reversible, non-immunogenic, and biodegradable | Positive |
The report also provides an in-depth analysis of recent news developments and investments
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