Asia Pacific 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

Asia Pacific is the third largest region in the global botulinum toxin market. Asia Pacific botulinum toxin market size is projected to grow at a CAGR of 6.2% during the forecast period. The global market is projected to grow from USD 7.23 billion in 2022 to USD 10.62 billion by 2030.

Growing disposable income, increasing penetration of key players, and high preference of Asian countries for medical tourism are key factors driving the growth of these procedures. For instance, according to the 2021 International Society of Aesthetic Plastic Surgery (ISAPS) data, the percentage of patients attending from other countries for medical tourism for cosmetic procedures was 23.2% in Thailand. Medical tourism promotes the economic growth of the country and hence contributes to the growth of the market. Also, the ongoing product approvals from the various regulatory bodies and the vast applications of existing approved products contribute to drive the Asia Pacific botulinum toxin.

Our report on the Asia Pacific botulinum toxin market covers the following countries/regions – China, India, Japan, Australia, South Korea, Southeast Asia, and the Rest of the Asia Pacific.

LATEST TRENDS

Organization of Various Conferences to Train Cosmetic Professionals to Propel Market Expansion

One recent trend witnessed in the Asia Pacific market is the arrangement of various conferences by several organizations to upgrade the knowledge of healthcare professionals. Several organizations in countries such as Japan, India, etc., are launching conferences and workshops to train professionals and enhance these dermatological procedures. This will boost product adoption amongst the population. Such initiatives are expected to propel the market growth during the forecast period.

• For instance, according to the KindCongress article, the International Congress on Cosmetology and Plastic Surgery will be held in May 2023 in Japan to educate young researchers regarding the latest market trends and innovations in the cosmetology and plastic surgery field.

DRIVING FACTORS

Increase in Demand for Botulinum Toxin Procedures to Boost Market Growth

Over the past decades, the adoption of cosmetic surgeries has increased. An overwhelming section of the population prefer easy and effective methods for appearing healthy and youthful. Such a scenario has boosted the demand for these products in Asian countries.

• For instance, according to the 2021 International Society of Aesthetic Plastic Surgery (ISAPS) data, a total of 404,016 nonsurgical cosmetic procedures were performed in India, of which 99,384 were botulinum toxin procedures.

Additionally, the growing focus of key players to gain approvals for therapeutic indications such as laryngeal dystonia, headache, etc. and aesthetic indications, including crow’s feet, forehead lines, glabellar lines, and frown lines contribute to the Asia Pacific botulinum toxin market growth.

RESTRAINING FACTORS

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High Cost of Botulinum Toxin Procedure to Decline the Market Growth 

Despite the vast application of these products in therapeutic and aesthetic applications, one of the leading factors that is affecting the emerging market of Asia is the high cost of aesthetic procedures. High costs of neurotoxin will lead the customers to adopt another type of non-invasive procedure as an alternative that provides the same results. Also, these procedures require repeated every three to six months to maintain the results of the treatments. This causes a significant cost burden on the user, thus limiting product adoption.

• For instance, Cosmetic Injectables Australia mentioned that the cost of botulinum toxin injection for the treatment of frown lines is USD 240.0. Such factors restrain market growth.

KEY INDUSTRY PLAYERS

In terms of competitive analysis, the company AbbVie Inc. is the leading player in market share. A strong product portfolio and distribution channel favor the company's domination in the market. Furthermore, Ipsen Pharma, HUGEL, Inc., and Merz Pharma hold a fair market share. This is attributed to gaining regulatory approval for various products in the market. In November 2022, Hugel, Inc. received marketing approval for 50 and 100 units of its botulinum toxin called 'Letybo' for the indication of glabellar lines from the Therapeutic Goods Administration (TGA) of Australia.

LIST OF KEY COMPANIES PROFILED:

• AbbVie Inc. (U.S.)


• Ipsen Pharma (France)


• Revance Therapeutics, Inc. (U.S.)


• 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.)


• Supernus Pharmaceuticals, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• December 2021: Daewoong Pharmaceutical submitted a Biologics License Application (BLA) to the regulatory body of China’s National Medical Products Administration (NMPA) for Nabota. It is used for the treatment of forehead wrinkles.


• June 2021: Medytox obtained marketing approval for the botulinum toxin brand ‘Meditoxin’ in Taiwan and planned to expand further in southeast countries.


• July 2020: Teijin pharma received marketing approval for Xeomin in Japan. Tenjin Pharma and Merz Pharma are in partnerships for pharma sales in Japan. Xeomin is useful in treating lower limb spasticity; it is useful for treating post-stroke spasticity patients.

REPORT COVERAGE

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The market report of Asia Pacific depicts the complete analysis of market size and growth for 2019-2030. Furthermore, it provides a detailed analysis of the market segmentation, dynamics, an overview of the number of procedures by key countries, pricing & pipeline analysis, the regulatory and reimbursement scenario, key industry developments and COVID-19 impact on the market.

 Report Scope & Segmentation