Neurotoxin Global Market Report 2024

The neurotoxin market size has grown rapidly in recent years. It will grow from $6.74 billion in 2023 to $7.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The expansion observed in the historical period can be attributed to several factors, including the increase in aesthetic procedures, the growing prevalence of therapeutic applications, advancements in the cosmetic industry, a rising aging population, and the increasing acceptance of non-surgical procedures.

The neurotoxin market size is expected to see rapid growth in the next few years. It will grow to $11.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The anticipated growth in the forecast period can be attributed to the expanding applications in neurology, sustained demand for aesthetic procedures, innovations in formulations, increasing consumer awareness, and the expansion of cosmetic tourism. Notable trends expected in the forecast period include advancements in drug delivery techniques, collaborations for neurotoxin development and research, market responses to regulatory changes in the neurotoxin industry, the integration of neurotoxins in multimodal treatment plans, and a heightened focus on achieving long-lasting effects and ensuring patient satisfaction.

The anticipated growth in the neurotoxin market is expected to be propelled by the surge in cosmetic procedures aimed at improving appearance. Cosmetic procedures encompass a diverse range of medical interventions undertaken with the primary objective of enhancing or altering an individual's physical appearance. This trend is influenced by societal, technological, and cultural factors, coupled with increased awareness of the benefits associated with cosmetic procedures. Neurotoxins play a crucial role in these procedures by relaxing specific muscles, thereby reducing the appearance of wrinkles and fine lines. For instance, a cosmetic surgery survey by the American Society of Plastic Surgeons in August 2022 revealed a significant increase in demand for cosmetic procedures, with 3 out of 4 plastic surgeons in the USA noting a rise in demand, and 30% reporting a doubling of their cosmetic procedure businesses. This surge in cosmetic procedures to enhance appearance is a key driver fueling the growth of the neurotoxin market.

The growing aging population is expected to contribute to the expansion of the neurotoxin market. The term 'aging population' refers to a demographic trend characterized by an increasing proportion of elderly individuals within a society or population. As individuals age, they often turn to neurotoxin-based treatments, such as Botox, to address age-related cosmetic concerns such as wrinkles and facial lines. This demographic seeks non-invasive solutions to enhance their appearance and achieve a more youthful and rejuvenated aesthetic. According to the World Health Organization (WHO), the global population of people aged 60 years and older is growing rapidly, expected to double by 2050 and reach 2.1 billion. The growing aging population is thus a significant factor driving the growth of the neurotoxin market.

The innovation of facial aesthetic products is a notable trend gaining popularity in the neurotoxins market, with companies actively engaged in developing and introducing novel products to sustain their positions. One example is Evolus Inc., a US-based medical aesthetics company, which received approval from the Australian Therapeutic Goods Administration (TGA) in January 2023 for Nuceiva (prabotulinumtoxinA). Nuceiva is a neurotoxin specifically designed for aesthetic purposes, aiming to temporarily enhance the appearance of moderate glabellar lines in adult patients. By blocking nerve impulses to facial muscles, the product induces muscle relaxation, smoothing wrinkles resulting from facial expressions, squinting, and frowning.

Major companies operating in the neurotoxins market are emphasizing innovative products, including facial gel serums, with the goal of enhancing patient satisfaction. An example is the ready-to-use BoNT-A neuromodulator, a pre-formulated and prepared Botulinum Toxin Type A (BoNT-A) product. This product offers a convenient and standardized solution for healthcare practitioners in cosmetic or therapeutic applications. In September 2022, Entod Pharmaceuticals, an Indian-based pharmaceutical company, launched Vasuki, a facial gel serum based on synthetic tripeptide snake venom neurotoxin. The serum is formulated to gently relax muscle contractions under the skin, potentially reducing the appearance of wrinkles and fine lines.

In August 2021, Merz Pharma GmbH & Co. KGaA, a Germany-based pharmaceutical company in the neurotoxin market, entered into a strategic partnership agreement with Vensica Therapeutics Ltd., an Israel-based urology catheter designing and development company. The collaboration involves the delivery of botulinum neurotoxin A (Xeomin) to the bladder wall using Vensica's innovative ultrasound-assisted delivery catheter for urology applications. This strategic partnership reflects a commitment to advancing treatment options and delivery methods in the urology field through the combination of Merz's neurotoxin expertise and Vensica's innovative catheter technology.

Major companies operating in the neurotoxin market report are AbbVie Inc., Galderma Inc., Ipsen SA, Daewoong Pharmaceutical Co. Ltd., Supernus Pharmaceuticals, Merz Pharma GmbH & Co KGaA, Hugel Inc., Evolus Inc., Medytox Inc., Croma-Pharma GmbH, Revance Therapeutics Inc., US WorldMeds, Gufic Biosciences Ltd., Hironic Co. Ltd., Allergan, List Biological Laboratories, Lanzhou Institute of Biological Products Co. Ltd., Solstice Neurosciences, Sinclair Pharma, Vida Aesthetics, Aquavit Holdings LLC, PharmaResearch Products Co.Ltd., Entod Pharmaceuticals, Object Pharma Inc., Eisai Co. Ltd.

North America was the largest region in the neurotoxin market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurotoxin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the neurotoxin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products classified as neurotoxins include well-known brands such as Botox, Dysport, Xeomin, and others. Botox, derived from the bacteria Clostridium botulinum, is a notable neurotoxin used for both cosmetic and medical purposes. It is employed to temporarily reduce the appearance of wrinkles and to treat certain muscular conditions. These neurotoxin products find applications in therapeutic and aesthetic contexts, with end-users ranging from hospitals and specialty clinics to dermatology clinics and other relevant healthcare facilities.

The neurotoxin market research report is one of a series of new reports that provides neurotoxin market statistics, including neurotoxin industry global market size, regional shares, competitors with a neurotoxin market share, detailed neurotoxin market segments, market trends and opportunities, and any further data you may need to thrive in the neurotoxin industry. This neurotoxin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The neurotoxin market consists of sales of lead, ethanol (drinking alcohol), glutamate, nitric oxide, tetanus toxin, and tetrodotoxin. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.