Report : North America Neurotoxins Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type (Botox, Dysport, Xenomin, and Others), Application (Therapeutic and Aesthetic), and End User (Hospitals, Specialty Clinics, Dermatology Clinics, and Others)
At 11.9% CAGR, the North America Neurotoxins Market is speculated to be worth US$ 8,416.95 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the North America neurotoxins market was valued at US$ 4,801.29 million in 2023 and is expected to reach US$ 8,416.95 million by 2028, registering a CAGR of 11.9% from 2023 to 2028. Surge in cosmetic procedures to improve appearance and emergence of innovative facial aesthetic products are the critical factors attributed to the North America neurotoxins market expansion.
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 naturally produced by Clostridium botulinum most popular neurotoxin used in cosmetic procedures. Therefore, the rising popularity of cosmetic procedures involving neurotoxins to reduce facial wrinkles while ensuring safety, effectivity, and efficiency is catalyzing the North America neurotoxins market.
On the contrary, improper/inappropriate injection technique hurdles the growth of North America neurotoxins market.
Based on product type, the North America neurotoxins market is segmented into botox, dysport, xenomin, and others. The botox segment held 94.1% market share in 2023, amassing US$ 4,516.21 million. It is projected to garner US$ 7,879.87 million by 2028 to expand at 11.8% CAGR during 2023–2028.
Based on application, the North America neurotoxins market is segmented into therapeutic and aesthetic. The therapeutic segment held 50.9% market share in 2023, amassing US$ 2,442.91 million. It is projected to garner US$ 4,255.31 million by 2028 to expand at 11.7% CAGR during 2023–2028.
Based on end user, the North America neurotoxins market is segmented into hospitals, specialty clinics, dermatology clinics, and others. The hospitals segment held 52.2% market share in 2023, amassing US$ 2,504.34 million. It is projected to garner US$ 4,423.60 million by 2028 to expand at 12.1% CAGR during 2023–2028.
Based on country, the North America neurotoxins market has been categorized into US, Canada, and Mexico. Our regional analysis states that US captured 85.7% market share in 2023. It was assessed at US$ 4,114.29 million in 2023 and is likely to hit US$ 7,265.51 million by 2028, exhibiting a CAGR of 12.0% during the forecast period.
Key players dominating the North America neurotoxins market are AbbVie Inc, Hugel Inc, Ipsen SA, Medytox Inc, Merz Pharma GmbH & Co KGaA, Metabiologics, Revance Therapeutics Inc among others.
- In Nov-2023, AbbVie announced new results from its exploratory NOVA phase 2 dose-ranging study evaluating the efficacy and safety of AGN-151607, a novel investigational neurotoxin for preventing postoperative atrial fibrillation (POAF) in cardiac surgery patients. The results were presented at the 2023 American Heart Association Scientific Sessions in Chicago, IL, USA, during the Late-Breaking Science session titled "Treating Atrial and Supraventricular Arrhythmias".
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