According to the research report titled ‘Global Botulinum Toxin Market 2021-2028’, available with MarketStudyReport, global botulinum toxin market is projected to expand with a CAGR of 5.55% over 2021-2028.
 

As per the report findings, global botulinum toxin market growth is primarily driven by product applications in therapeutics and surging demand for aesthetic procedures.
 

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Booming aging population and flourishing medical tourism act as lucrative growth prospects for the overall market. Moreover, development of healthcare infrastructure and growing inclination of men towards cosmetic treatment are also contributing to the overall industry progression.
 

Speaking of challenges, side-effects associated with the usage of botulinum toxin, and several countries’ lack of adequate payment mechanisms to fund cosmetic operations are negatively impacting market demand. Further, interchangeability issues between different items are stifling the market growth.
 

Based on type, global botulinum toxin industry is bifurcated into type A and type B. With respect to application spectrum, the market is split into cosmetic applications (forehead lines, lateral canthal lines (crow’s feet), non-cosmetic applications (chronic migraine, dystonia, ophthalmologic disorders, others). Moving on to end user scope, the market is classified into hospitals and clinics and others.
 

Coming to regional landscape, the market is fragmented into North America (U.S., Canada), Europe (UK, Germany, Spain, Russia, Italy, and rest of Europe), Asia Pacific (China, Japan, South Korea, India, ASEAN Countries, Australia & New Zealand, rest of APAC), Latin America (Brazil, Mexico, Rest of Latin America), and MEA (South Africa, Saudi Arabia, Rest of MEA).
 

Asia Pacific is expected to record robust CAGR over 2021-2028, owing to rising disposable income, aging demographics, and subsequent surge in demand for anti-aging products. Besides, rising awareness among people regarding commercial availability of these products is predicted to add to the regional market expansion.
 

Elaborating on competitive landscape, US WorldMeds LLC, Revance Therapeutics Inc., Medytox Inc., Merz Pharma GmbH & Co. KGaA, Ipsen Pharma Biotech SAS, Hugel Inc., Galderma Pharma S.A. (EQT), Evolus Inc., and AbbVie Inc. are among the top firms powering worldwide botulinum toxin market dynamics.