Neurotoxin Market Size Report – Growth & Outlook 2028

[Research Report] The neurotoxin market size is expected to reach US$ 13,195.06 million by 2028 from US$ 6,622.36 million in 2022; it is estimated to record a CAGR of 12.3% from 2023 to 2028.  

Neurotoxin is widely used as a therapeutic substance or an agent to treat various conditions. It is widely used for facial aesthetic and treating muscular movements and others. The internalization and cytosolic delivery of proteolytic enzymes property of neurotoxin that helps in slicing proteins integral to the exocytosis of neurotransmitters allow in treating medical conditions. The growth of the market is primarily driven by a few key drivers, such as surge in cosmetic procedures to improve appearance and emergence of innovative facial aesthetic products. However, improper/inappropriate injection techniques are hindering the growth of market during the forecast period.

The neurotoxin market is segmented on the basis of products type, application, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South & Central America. The report offers insights and in-depth analysis of the market, emphasizing parameters such as market trends, technological advancements, and market dynamics, along with the competitive landscape analysis of the leading market players across the world.

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Neurotoxin Market: Strategic Insights

Neurotoxin Market

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  CAGR (2022 - 2028)

  12.3%
• Market Size 2022
  US$ 6.62 Billion
• Market Size 2028
  US$ 13.2 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Merz Pharma GmbH Co KGaA
• AbbVie Inc
• Revance Therapeutics Inc
• Ipsen SA
• List Biological Labs Inc
• Medytox Inc
• Evolus Inc
• Hugel Inc
• Lanzhou Institute of Biological Products Co Ltd

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product Type

• Botox
• Dysport
• Xeomin

Application

• Therapeutic and Aesthetic

End User

• Hospitals
• Specialty Clinics
• Dermatology Clinics

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Market Insights – Neurotoxin Market

Surge in Cosmetic Procedures to Improve Appearance

Structural changes affecting the skin, muscles, ligaments, fat, and bone get noticeable on an individual’s face due to decrease in cellular functions with aging. The inevitable physiological process of aging is generally not conceived positively by many, which, in turn, urges them to indulge in cosmetic rejuvenation procedures to remain youthful visually. Botulinum toxin (BOTA)—which is naturally produced by Clostridium botulinum—is the most popular neurotoxin used in cosmetic procedures globally. The American Society of Plastic Surgery reveals that over 7.4 million BOTA type A injections were administered in 2019, proving to be the most recommended minimally invasive cosmetic procedure globally.

The below case study further illustrates the use of BOTA in improving the appearance:

Case Title:

Facial Treatment with BOTA

Challenge:

 A male patient, aged 74, seeks guidance to reduce facial wrinkles through surgical procedures

Result and Discussion:

 Botulinum Toxin A (BOTA) application was targeted at the orbital region of the eyes and the nasal region to reduce the dynamic wrinkles in the upper third of the face. Two units were injected at each of the four sites. Each eye's orbital muscle received an injection of 10 units BOTA, evenly distributed over five sites. To make the patient's eyes appear wider and help correct eyebrow ptosis, 1 unit of BOTA was injected into the orbital muscles of each eye in the direction of the eyebrow arch. A total of 58 units of BOTA were used, evenly dispersed over the muscles in the top third of the face, to enhance the brow arch, reduce dynamic wrinkles, and promote facial rejuvenation.

The BOTA selection to treat the aforementioned case involved Abobotulinum A (ABO; Dysport/Ipsen Limited, Slough Berkshire, UK) containing 500 European units. Following the manufacturer’s recommended ratio of 2.5 ml saline solution to 500 units botulinum toxin was administered, the reconstitution was carried out.

BOTA has thus been proven effective in repositioning eyebrows and facial rejuvenating the upper third of the face. Therefore, the rising popularity of cosmetic procedures involving neurotoxins to reduce facial wrinkles while ensuring safety, effectivity, and efficiency is catalyzing the market for neurotoxins.

Application Insights

Based on application, the global neurotoxin market is segmented into therapeutic and aesthetic. The therapeutic segment held a larger market share in 2022. The aesthetic segment is anticipated to register a higher CAGR during the forecast period. Neurotoxin has wide medical conditions to treat medical conditions such as chronic migraine, adult spasticity, pediatric spasticity, and others. The aforementioned clinical indications can be treated with neurotoxins temporarily in patients. For migraine conditions, BOTOX onabotulinumtoxin A is a prescription medication injected into the muscle with clinical effects such as preventing headaches among adults with chronic migraine. Additionally, for adult spasticity, BOTOX (onabotulinumtoxinA) is a prescription medicine injected into the muscles and used to treat increased muscle stiffness in people aged 2 years and older suffering from spasticity. Such clinical effects offered by the botox injection to treat chronic migraine and other clinical effects are responsible for significant segmental growth, thereby dominating the overall neurotoxin market growth during 2022-2028.

Companies are investing in the development of new and innovative products to secure good return on investment (ROI) by launching new products. Additionally, the product approval by regulatory authorities confirms the assurance of products results. Recently, various market players have launched effective neurotoxins and adopted acquisition strategy. A few strategies by market players are listed below:

• In February 2023, Evolus, Inc. announced the commercial launch of Nuceiva (botulinum toxin type A) in Germany and Austria. The European Commission approves Nuceiva for the temporary improvement in the appearance of moderate to severe vertical lines between the eyebrows seen at maximum frown (glabellar lines) when the severity of the above facial lines has an important psychological impact in adults below 65 years of age.
• In December 2022, Gufic Biosciences launched locally developed botulinum toxin type A (Botox) injection in India. Gufic's botox will be sold under brand name ‘Zarbot’ in India. Zarbot has been developed and manufactured in collaboration with US-based Prime Bio. ‘Zarbot’ has been manufactured using purified HALL strain and proprietary technology, which results in thin film formulation and better stability compared to others companies.
• In August 2021, Merz Therapeutics has been granted the use of XEOMIN for the symptomatic treatment in children and adolescents aged 2 to 17 years and weighing 12 kg of chronic sialorrhea due to neurological/neurodevelopmental disorders on EU level.
• In January 2023, Hugel America, Inc. announced the successful completion of Croma-Pharma’s Decentralized Procedure for Letybo (LetibotulinumtoxinA Injection) in Europe. Approval is supported by positive results from three completed randomized, placebo-controlled phase III trials that enrolled more than 1,000 subjects in the US and Europe.

These recent developments were made to enhance the beauty of individuals across the world. Also, the therapeutic applications have enabled to cure the medical disorders. Thus, the enormous developments by the companies facilitates the growth of the neurotoxin market.

Neurotoxin Market Report Scope

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Neurotoxins – Market Segmentation

The global neurotoxin market is segmented on the basis of products type, application, and end user. Based on products type, the market is divided into Botox, Dysport, Xeomin, and others. The Botox segment held the largest market share in 2022 and is anticipated to register the highest CAGR during the forecast period. Based on application, the global neurotoxin market is segmented into therapeutic and aesthetic. Based on end user, the market is segmented into hospitals, dermatology clinics, medical spas, and others.

Based on geography, the neurotoxin market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Poland, Russia, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East (the UAE, Saudi Arabia, South Africa, Israel, Lebanon, and the Rest of Middle East), and South & Central America (Brazil, Argentina, Venezuela, and the Rest of South & Central America).

Company Profiles – Neurotoxin Market

• Merz Pharma GmbH & Co KGaA
• AbbVie Inc
• Revance Therapeutics Inc
• Ipsen SA
• Medytox Inc
• Evolus Inc
• Hugel Inc
• Lanzhou Institute of Biological Products Co Ltd
• Gufic
• Metabiologics, Inc.