Botulinum toxin is a naturally occurring toxin generated by the Clostridium botulinum bacteria. This bacteria can create the neurotoxin botulinum toxin, which is prevalent in soil and marine sediments. Botulinum toxin is a 'blocking agent' that prevents the release of certain neurotransmitters from motor nerve terminals, notably acetylcholine. Botulinum toxin is classified into eight categories, ranging from type A to type H. Botulinum toxin type A and type B are two types of botulinum toxin that are commonly used in cosmetic operations to address a variety of facial disorders. Botox is the brand name for botulinum toxin type A and type B. Botulinum toxin types A and B are also utilized in medical applications to treat dystonia, persistent migraines, and spasticity, among other disorders.
Market Drivers for Botulinum Toxin
The Botulinum Toxin Market is likely to increase in the near future due to the frequent approvals of innovative botulinum toxin medications for various indications. For example, in 2016, the United States Food and Drug Administration (FDA) approved Ipsen S.A.'s Dysport (abobotulinumtoxinA) injectable for the treatment of pediatric lower limb (PLL) spasticity in children aged two and up. The FDA granted the business license to use the same medicine in adults in 2017. BOTOX Cosmetic (OnabotulinumtoxinA) was authorized by the FDA in 2017 for a new indication in forehead lines, after previously being approved for the treatment of, crow's feet lines, and glabellar lines. With this approval, the corporation has broadened the scope of its product's application.
Botulinum Toxin Market Analysis by Region
Because of the rising trend of cosmetic operations in the region, North America is likely to keep a dominating position in the global botulinum toxin market. According to research issued by the American Society of Plastic Surgeons in 2016, around US$ 16.4 billion was spent on cosmetic treatments in the United States, and approximately 7.2 million botulinum injections were used for cosmetic procedures in the United States in 2017. In the near future, the botulinum toxin market is predicted to develop due to an increase in cosmetic operations in the important region of North America.
Key Players in the Botulinum Toxin Market
Key Players in the Botulinum Toxin Market
Ipsen Group, Allergan Plc., Medytox Inc., Merz GmbH and Co. KGaA, US Worldmed, LLC, Lanzhou Institute of Biological Products Co. Ltd., Revance Therapeutics, Inc., and Daewoong Pharmaceutical Co., Ltd. are some of the major competitors in the global botulinum toxin market. Major market participants are collaborating to produce new products in strategic ways. For example, Mylan N.V. and Revance Therapeutics, Inc. signed a strategic cooperation and license agreement in February 2018 for the development and commercialization of a potential BOTOX biosimilar (onabotulinumtoxinA).
0 Comments