According to a report published by Fortune Business Insights, the botulinum toxin market will reach US $8,309 million by 2026, exhibiting a compound annual growth rate of 8%.
Companies analysed in the Botulinum Toxin Market: Global Market Analysis report included Allergan, Ipsen Pharma, Merz Pharma, Medytox, US WorldMeds, LLC (Solstice Neurosciences, LLC), Galderma Laboratories, Lanzhou Institute of Biological Products Co Ltd, and Revance Therapeutics.
According to the report, the rising demand for improved aesthetic appearance following COVID-19 has created a demand for botulinum toxin procedures around the world. Resulting from the high demand, there has been a subsequent rise in the number of product launches worldwide.
Fortune Business Insights predicts that increasing product launches will constitute an increase in the overall botulinum toxins market value. Key industry developments outlined in the report included the South Korean company launch of Liztox, a botulinum toxin in Korea for the treatment of moderate to severe glabellar wrinkles, and the US FDA approval of Evolus Inc’s cheaper botulinum toxin for the treatment of frown lines.