Botulinum Toxin: A Global Strategic Business Report
San Jose, California (PRWEB) November 15, 2011
Follow us on LinkedIn - Expanding use of botulinum toxin in medical aesthetic applications in addition to other medical applications such as in neuromuscular indications is helping drive up demand in the international market The muscle-relaxing properties of Botulinum Toxin Type A, obtained from the bacterium Clostridium Botulinum, is finding application in an ever-increasing range of disease treatments and pain-relief therapies. In the field of neuromuscular therapeutics, use of botulinum toxin is driven by escalating incidences of movement related disorders and growing number of patients with muscle spasms. Further, new clinical indications of botulinum toxin such as in treatment of nystagmus, stridor, palatal myoclonus, scoliosis, co-spasms and gait freezing (Parkinson) symptoms, have helped further strengthen growth in this area. Although advancements in R&D have revolutionized botulinum toxin’s medical and therapeutic uses over the last few decades, the largest strides have been taken in the field of facial aesthetics. Gains in this sphere have been spurred by a rich combination of scientific benefits, and market driven factors such as rising consumer disposable income, increased per capita spends on appearance enhancing products and solutions, growing social acceptance of aesthetic medical procedures, and easy product accessibility.
Due to the widespread application of botulinum toxin in various cosmetic and neuromuscular therapeutic treatment procedures, the market continued to exhibit steady growth rates even during the global economic crunch. Further, the gradual dissipation of social stigmas associated with such therapeutic and cosmetic surgical procedures has led to their increased adoption by young consumers. Non-occurrence of side effects and temporariness of results, are inducing the customers to return for additional treatment procedures, thus boosting market revenues further. Several male patients and youngsters have also moved towards the botulinum toxin therapeutic procedures, in an attempt to remain young and healthy.
Opportunities in the field of cosmetic botulinum toxin span beyond the traditional mainstay of developed economies. A change in growth dynamics is presently on cards with developing countries in Asia, Latin America, and Eastern Europe entering the trading range with cosmetic treatments, and procedures growing in popularity and acceptance in these regions. The blistering pace of growth of medical tourism is also fingered as a key reason in the market’s changing dynamics. Medical tourism has been partially responsible for the rise in the number of cosmetic procedures performed in Thailand, India, Argentina, Brazil, South Korea, among others.
In terms of sheer strength, the developed markets of United States and Europe account for a lion’s share of the global botulinum toxin market, as stated by the new research report on Botulinum Toxin. The development of new technologically advanced drugs and products, followed by continuous innovations in treatment procedures, is driving the US and European cosmetic therapies market by leaps and bounds. Zeal for beauty is significantly raising the demand for Botox in most of the European regions. Demand mostly stems from women in the age group 30 to 60 years. The Therapeutic application segment that deals with the treatment for movement disorders, spasticity, hyperhidrosis, overactive bladder, among others, is the strongest contender capturing the largest slice of the global market. The segment is forecast to surge at a sturdy pace of 14% over the analysis period.
Key market participants profiled in the report include Allergan, Inc, Ipsen Group, Lanzhou Institute of Biological Products, Metabiologics, Inc., Merz Pharmaceuticals GmbH, Mentor Corporation, Medy-Tox Incorporated, Medicis Pharmaceutical Corporation, and Solstice Neurosciences, Inc.
The research report titled “Botulinum Toxin: A Global Strategic Business Report” announced by Global Industry Analysts Inc., offers useful market insights, industry and product overviews, trends, challenges, issues, product innovations, and recent industry activity and profiles of major companies worldwide. Analytics are presented for major geographic markets such as United States, Europe, and Rest of World. The report provides market analytics in value terms (US$) for various cosmetic and therapeutic applications such as spasticity, headaches, movement disorders, overactive bladder, and hyperhidrosis. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
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