Global botulinum toxin market is likely to witness growth in vague of increasing social awareness among adult consumers towards facial aesthetic products. Shifting cultural thinking over consumer acceptance of facial aesthetic injectables is expected to have a positive impact over the botulinum toxin market demand. Aforementioned toxin is marketed by manufacturers under the name botox. Botox is derived from clostridium botulinum bacteria and majorly used in healthcare industry for the treatment of dystonias and spasms.
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Botulinum toxin type A grade has application in healthcare industry which includes curing movement disorders, medical aid in gastric cancer, vocal cord dysfunction and obesity. Aforementioned applications are expected to have a positive impact on the demand for botox over the forecast period. Increasing instances of neurogenic bladder diseases and muscle spasms cerebral palsy in children which can be cured by botox type A is likely to have potential impact on the industry. Botulinum toxin has application in cosmetics industry for curing occurrences of wrinkles and development of facial lines is expected to fuel the industry growth over the forecast period.
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U.S. is likely to be a lucrative botulinum toxin market on account of robust manufacturing base of pharmaceutical industry at domestic level. In 2013, U.S. FDA approved the application of botox cosmetic for the treatment of crow’s feet disorder. Europe is likely to be a promising industry for botulinum toxin due to robust manufacturing base of cosmetic products in Germany France and UK. In 2011, Mentor Corporation a U.S. based Company developed purtox which is a non-surgical cosmetic to treat facial wrinkles and is expected to pose a challenge to the industry growth.
Key botulinum toxin market players include Valeant Pharmaceuticals Inc, Lanzhou Institute of Biological Products, Ipsen, Allergan, US Worldmeds, Merz Pharma, Mentor Corporation, Medytox Inc, and Metabiologics. In 2014, Nestle Healthcare obtained the rights from Valeant Pharmaceuticals to sell botox in Canada and the U.S. This strategic partnership is likely to augment the market penetration in the U.S of Nestle HealthCare. In 2014, U.S. based manufacturer Allergan formed a partnership with Actavis group for the expansion of manufacturing facility of botox.
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