Botulinum Toxin Poised for Heady Growth; Sales to Exceed US$2.1 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Botulinum toxin market for strikes a feisty note across the world, owing to increasing cosmetic indications such as facial wrinkles, and eyebrow furrows treatment. Growth over the coming years will be fuelled by growing consumer awareness, aging baby boomers, and consumer desire to retain young look. In addition, the market, although rapidly growing, will receive further boost as companies begin to develop products accustomed to varying needs of cosmetic and therapeutic medication market.
San Jose, California (PRWEB) July 9, 2007 - The world botulinum toxin market for is estimated at US$1.08 billion in 2006 and is poised to reach US$2.1 billion by 2010, according to a recently released research, report from Global Industry Analysts, Inc. The US constitutes the largest market for Botulinum Toxin and is forecast to maintain its dominating position through 2010. Though Therapeutic Applications of Botulinum Toxin account for the larger share and will continue to do so through 2010, Cosmetic Applications of Botulinum Toxin are projected to forecast faster growth.
Contrary to the fact that botulinum toxin is highly poisonous, it is a major part of aesthetic surgery and treatments. It prevents communication between muscles and nerves thereby paralyzing or weakening muscles. Botulinum toxin is widely used in cosmetic treatment for facial wrinkles and frown lines as well as to cure muscle spasms. However, large doses of the toxin can cause food poisoning, and paralyze the muscles that control breathing, resulting in respiratory arrest. Botulinum toxin has an action on motor end plates of skeletal muscle. It also works on sympathetic smooth muscle and sweat glands to prevent underarm sweating. Botulinum stops the release of acetylcholine, a neurotransmitter essential to start contraction of muscle.
Advancements in the biological science have drastically revolutionized medicinal use of botulinum toxin domain. Botulinum toxin in cosmetic applications, especially, has made huge strides over the past few years. Growth is largely driven by consumers' high disposable income, and social acceptance of aesthetic practices. Botulinum toxin effect lasts for about 3 to 6 months and necessitates patients to repeat the procedure in order to retain cosmetic effects, offering a sustained revenue source for the toxin manufacturers. In therapeutic area, botulinum toxin use is driven by escalating incidence of movement disorders and growing number of patients with muscle spasms. Further, the new clinical indications of botulinum toxin such as nystagmus, stridor, palatal myoclonus, scoliosis, co-spasms following brachial plexus lesions (birth related), and gait freezing (Parkinson), are likely to contribute for product growth. Other factors such as growing awareness of people, ad-campaigns, financial aids and product accessibility are further likely to propel the use botulinum toxin in both therapeutic and cosmetic space.
Combination therapy is expected to be the next business model for botulinum toxin. This is mainly due to the growing interest of large pharmaceutical companies to extend the patent period of their blockbuster drugs and gain entry into the potential botulinum toxin market. These companies are more focused to combine the use of botulinum toxin with their medical and cosmetic therapies. For instance, combinations in therapeutic areas include focal dystonia (combining botulinum toxin with Norvasc), migraine prevention and treatment (combining botulinum toxin with oral medications for acute therapy as a treatment regimen) and many other potential therapeutic categories. Combination therapy is also increasingly adopted in the non-surgical cosmetic segment to meet patient expectations. Initiatives such as co-branding and strategic alliances with other participants are expected strategies from players to minimize marketing costs and maximize product penetration.
Leading companies covered in the report include Allergan, Inc, Ipsen Group, Metabiologics Inc, Merz Pharmaceuticals GmbH, Mentor Corporation and Solstice Neurosciences, Inc. Allergan, Inc., California-based biotech company, dominates the global botulinum toxin market with its Botox® product line. Botox is the world's largest selling botulinum type A toxin indicated for various diseases ranging from neuromuscular disorders and facial aesthetic procedures to pain management. Botox is currently used for over 100 cosmetic and therapeutic indications, and is approved by related authorities in more than 75 countries for 20 indications. It is marketed as Botox®, Botox® Cosmetic, Vistabel® or Vistabex® according to the country of approval. It is also approved for treatment of glabellar lines in more than 30 countries worldwide. According to the International Society of Aesthetic Plastic Surgery (ISAPS), Botox is the largest non-surgical cosmetic procedure, highly preferred by both men and women.
For more details about this research program, please visit www.strategyR.com/MCP-1833.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site www.StrategyR.com
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