The key benefits are included shorter hospital stay, small incision, and rapid wound healing. Apart from benefits, some of the side-effects are included allergic reactions, shortness of breath, neck & back pain, rash, difficulty in swallowing, and nausea.
According to study, “World Botox Market Research Report 2024(covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world Botox market are Lanzhou Institute of Biological Products Co. Ltd. (LIBP), US World Meds LLC, Revance Therapeutics Inc., Allergan Inc., Medytox Inc., Merz Pharmaceuticals GmbH and Co. KGaA, Ipsen Group. The key companies are focusing on the research endeavors in order to introduce innovative therapeutic applications of the existing products.
Based on type, Botox market is segmented into Botox type A and Botox type B. Botox type A and Botox type B are used in medicine for upper motor neuron syndrome, strabismus, chronic migraine, focal hyperhidrosis, and bruxism. Based on application, market is segmented into cosmetic and medical. In addition, based on end-use, market is segmented into outpatient centers and hospitals cosmetic centers.
The Botox market is driven by rise in demand for minimally invasive treatment, followed by growth in population aging between 25 to 65 years of age, introduction of new & improved products, rise in awareness level regarding non-surgical esthetic & therapeutic procedures, increase in prevalence of cervical dystonia, glabellar lines, spasticity & crow’s foot, favorable government regulations, increase in investment on research & development (R&D) projects and expand in therapeutic use of botulinum toxin. However, limited reimbursement coverage, high cost entailed in performing such expensive procedures, risk of side effects and misuse as bioterrorism may impact the market.
Based on geography, USA country holds major share, followed by EU in Botox market owing to increase in availability of a variety of aesthetic procedures and higher disposable income of the individuals in the country. China country is expected to witness higher growth rate due to increase in geriatric population over the forecast period. The market is expected to grow at a CAGR of approximately 13.3% over the next five years, will reach US $8500million in 2024, from US $4550 million in 2019.
For more information, click on the link below:
World Botox Market Research Report 2024
Ankur Gupta, Head Marketing & Communications
The post Expand in Therapeutic Use of Botulinum Toxin Expected to Drive World Botox Market over the Forecast Period: Ken Research appeared first on Ken Research.
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