Europe Botulinum Toxin Market Size, Share & Industry Analysis, By Application (Therapeutics {Chronic Migraine, Spasticity, Overactive Bladder, Cervical Dystonia, Blepharospasm, and Others}, and Aesthetics {Forehead Wrinkles, Glabellar Lines, Crow's Feet, and Others}), By Type (Botulinum Toxin Type A and Botulinum Toxin Type B), By End-user (Specialty & Dermatology Clinics, Hospitals & Clinics, and Others), and Regional Forecast, 2023-2030

Europe is the second largest region in the global botulinum toxin market. It is projected to grow at a CAGR of 4.8% during the forecast period. The global market for botulinum toxin is projected to grow from USD 7.23 billion in 2022 to USD 10.62 billion by 2030.

The rising number of minimally invasive procedures and robust efforts by key players to launch new products have propelled the market expansion. For instance, as per the International Society of Aesthetic Plastic Surgery, in 2021, about 42,924 botulinum toxin procedures were performed in Romania. Similarly, market players are focusing on approvals for various indications such as forehead lines, chronic migraine, tremors, etc. Also, continuous efforts by market players to enhance cosmetic procedure awareness through promotional activities will accelerate the Europe botulinum toxin market growth during the forecast period.

Our report on this market covers the following countries/regions – Germany, U.K., France, Italy, Spain, Scandinavia and the Rest of Europe.

LATEST TRENDS

Rising Awareness through Various Campaigns Offers New Growth Opportunities during 2023-2030

One of the most prevalent market trends in Europe is rising promotional activities to enhance product awareness. Numerous market players are upcoming up with various campaigns to increase their brand presence. They are utilizing social media and other sources to disseminate product awareness among the European population.

• For instance, according to an article published by BBC in 2019, a campaign was launched to tackle "botched" cosmetic procedures by the government in England. Such initiatives drive market expansion in Europe.

DRIVING FACTORS

Robust Focus of Key Players on R&D to Accelerate Market Expansion & Boost Demand for Botulinum Toxin

In recent years, the market is experiencing a rise in research and development activities by European market players. Major market players are strongly emphasizing R&D initiatives to support and accelerate product approvals for newer therapeutic applications of botulinum toxin. The rising demand for non-invasive cosmetic procedures increases and strong product adoption further expands the market.

• In August 2021, Merz Pharma gained approval for using XEOMIN (type A botulinum toxin) in Europe to treat chronic sialorrhea in children and adolescents (2 to 17 years) due to neurological/ neurodevelopmental disorders.

RESTRAINING FACTORS

Side Effects of Botulinum Toxin and Increased Presence of Counterfeit Products to Limit Market Growth 

Despite the strong demand for these products across Europe, the rising cases of counterfeit products hamper its growth to some extent. As the demand for these products increases, the availability of counterfeit products also increases in the market. In addition, rising cases of side effects of these procedures due to fake products limit the market expansion. For instance, in April 2018, according to BBC News, three women in the U.K. suffered from swelling and burning after being administered by fake Botox injection by a cosmetic surgeon trained in America. These factors may lead patients to not opt for such aesthetic procedures.

KEY INDUSTRY PLAYERS

Regarding the competitive landscape, AbbVie Inc. is a major player in Europe. The company's dominance is attributed to its robust product portfolio, new product, and active initiatives to gain new regulatory approvals. Also, the company has a presence in nearly 29 European countries which facilitates a strong position in the market.

Some other prominent players, such as Ipsen Pharma and Merz Pharma, also hold a substantial market share. This is attributed to their strong distribution network coupled with a continuous focus on launching products for multiple indications such as chronic sialorrhea condition. In addition, other major players such as GALDERMA, HUGEL, Inc., and others, are focusing on strategic collaborations and partnerships to upsurge their market share in Europe.

LIST OF KEY MARKET PLAYERS PROFILED:

• AbbVie Inc. (U.S.)


• Ipsen Pharma (France)


• Merz Pharma (Germany)


• Medytox (South Korea)


• GALDERMA (Switzerland)


• Lanzhou Institute of Biological Products Co., Ltd. (China)


• HUGEL, Inc. (Republic of Korea)


• Evolus, Inc. (U.S.)


• Revance Therapeutics, Inc. (U.S.)


• Supernus Pharmaceuticals, Inc. U.S.)

KEY INDUSTRY DEVELOPMENTS:

• February 2022: HUGEL, Inc. received approval from the health regulators in France. The company received approval in France after the Heads of Medicines Agencies (HMA) provided the company with an approval recommendation.


• December 2021: European Medicines Agency (EMA) granted GMP (good manufacturing practice certificate) to Geodu Plant, which manufactures the company's botulinum toxin (BTX) product, Letybo, a botulinum toxin A developed by Hugel, Inc.


• January 2020: U.K.’s Medicines and Healthcare Products Regulatory Agency announced they had granted Dysport a license update. The decision was based on a phase III study involving 210 children above the age of 17.

REPORT COVERAGE

The market research report offers detailed insights of the market size, growth rate and segments. It provides a comprehensive analysis of the dynamics, key insights and competitive landscape. The Europe report focuses on key aspects such as an overview of the number of procedures by key countries, pricing analysis, pipeline analysis, the regulatory and reimbursement scenario, key industry developments and COVID-19 impact on the market.

 Report Scope & Segmentation