At 14.6% CAGR, Asia Pacific Botulinum Toxin Market is Projected to be Worth US$ 2,743.18 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific botulinum toxin market was valued at US$ 925.29 million in 2023 and is expected to reach US$ 2,743.18 million by 2031, registering a CAGR of 14.6% from 2023 to 2031. Rising adoption aesthetic procedure in emerging economies is offering significant and increasing use of botulinum toxin for enhancing facial aesthetics are among the critical factors attributed to drive the Asia Pacific botulinum toxin market growth.

Healthcare providers in developing economies are focusing on introducing various advanced medical aesthetic technologies into their service portfolios. Health facilities, medical spas, and wellness centers in these countries also offer a comprehensive range of inexpensive but high-quality medical-aesthetic procedures. Patients from developed regions approach emerging countries to undergo various aesthetic procedures. Moreover, people in these countries are willing to spend on cosmetic and rejuvenation procedures to improve aesthetics. Rising disposable income and changing beauty standards have led to an increase in demand for botulinum toxin and similar products in the abovementioned region. Moreover, the botulinum toxin industry is flourishing in India as people seek nonsurgical cosmetic alternatives to invasive procedures. Further, countries in Asia Pacific and Latin America are catching up to the botulinum toxin market in Brazil, Argentina, India, and Thailand usage due to urbanization and increased healthcare spending. Rising healthcare spending in developing economies in Asia Pacific, and South & Central America enables healthcare professionals to adopt advanced technologies for performing cosmetic procedures. For instance, according to the ISAPS, in 2021 the number of non-surgical procedures in Brazil, Argentina, India and Thailand was 542,520; 158,900; 404,016; and 29,840 respectively. Thus, evolving consumer preferences, and growing awareness, developing countries offer significant opportunities for the botulinum toxin market.

On the contrary, side effects of botulinum toxin hamper the growth of Asia Pacific botulinum toxin market.

Based on product, the Asia Pacific botulinum toxin market is bifurcated into botulinum toxin A and botulinum toxin B. The botulinum toxin A segment held 95.1% share of Asia Pacific botulinum toxin market share in 2023, amassing US$ 879.91 million. It is projected to garner US$ 2,643.62 million by 2031 to register 14.7% CAGR during 2023–2031.

In terms of application, the Asia Pacific botulinum toxin market is bifurcated into medical and aesthetic. The medical segment held 59.3% share of Asia Pacific botulinum toxin market in 2023, amassing US$ 549.10 million. It is anticipated to garner US$ 1,712.50 million by 2031 to expand at 15.3% CAGR during 2023–2031. Furthermore, the medical segment is subcategorized into chronic migraine, muscle spasm, over reactive bladder, hyperhidrosis, and others. Additionally, the aesthetic segment is subcategorized into frown lines/ glabellar, forehead lines, crow’s feet, square jaw/ masseter, and others.

By end user, the Asia Pacific botulinum toxin market is divided into specialty & dermatology clinics, hospitals & clinics, and others. The specialty and dermatology clinics segment held 52.9% share of Asia Pacific botulinum toxin market in 2023, amassing US$ 489.38 million. It is projected to garner US$ 1,531.53 million by 2031 to expand at 15.3% CAGR from 2023 to 2031.

Based on country, the Asia Pacific botulinum toxin market is categorized into Japan, China, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that Japan captured 34.4% share of Asia Pacific botulinum toxin market in 2023. It was assessed at US$ 318.21 million in 2023 and is likely to hit US$ 954.98 million by 2031, registering a CAGR of 14.7% during 2023–2031.

Key players operating in the Asia Pacific botulinum toxin market are Merz Pharma GmbH & Co KGaA, AbbVie Inc, Ipsen SA, Evolus Inc, Medytox Inc, Galderma SA, Hugel Inc, and Lanzhou Institute of Biological Products Co Ltd, among others.

• In February-2022, Merz Therapeutics is expanding its strategic partnership with Vensica Therapeutics as the Merz Group invests up to US$3 million in the Israeli start-up. This investment follows the strategic license and collaboration agreement signed in 2021 to utilize Merz’s botulinum neurotoxin A (XEOMIN) for the innovative ultrasound-assisted delivery catheter of Vensica. Merz is thus executing its contractually agreed option to participate in Vensica’s Series C financing round and invest further in the start-up.
• In August-2021, Merz Therapeutics and the Israeli start-up Vensica Therapeutics Ltd., a urology company, announced that they have entered into a strategic license and collaboration agreement to deliver botulinum neurotoxin A (XEOMIN)to the bladder wall by using Vensica’s innovative ultrasound-assisted delivery catheter. By this, Merz Therapeutics becomes the exclusive toxin supplier of any needleless application for urological indications, such as overactive bladder, neurogenic bladder, interstitial cystitis, and other urology indications.
• In June-2020, Merz Therapeutics GmbH and Teijin Pharma Limited jointly announced that Teijin Pharma had been approved by Japan’s Ministry of Health, Labor and Welfare (MHLW) to market XEOMIN (incobotulinumtoxinA) for intramuscular injection in 50, 100 or 200 units for the treatment of upper limb spasticity. XEOMIN is effective in treating peripheral cholinergic nerve endings by weakening the contraction of voluntary muscles, and it relieves muscle tone by inhibiting the release of a neurotransmitter called acetylcholine.

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