Botulinum Toxin Market: Regional analysis
North America is expected to hold a dominant position in the global botulinum toxin market,
owing to increasing trend of cosmetic procedures in the region. For instance, according to a
report published by American Society of Plastic Surgeons in 2016, around US$ 16.4 billion was
spent on cosmetic procedures in the U.S. and in 2017, around 7.2 million botulinum injections
were used in the U.S. for cosmetic procedures. Increasing number of cosmetic procedures in the
key region of North America is expected to drive the growth of the botulinum toxin market in
near future. Furthermore, Asia Pacific is expected to show rapid growth in botulinum toxin
market, owing to increasing R&D and approval of novel products in China. For instance, in
January 2018, Daewoong Pharmaceutical Co. Ltd., a Korean company, received approval from
the Chinese authorities to conduct clinical trials for botulinum toxin Nabota in China.
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Botulinum Toxin Market: Key Players
Key players operating in global botulinum toxin market includes Ipsen group, Allergan Plc.,
Medytox Inc., Merz GmbH and Co. KGaA, US Worldmed, LLC, Lanzhou Institute of Biological
Products Co. Ltd., Revance Therapeutics, Inc., and Daewoong Pharmaceutical Co., Ltd. Major
players in market are involved in strategic collaborations to develop new products. For instance,
in February 2018, Mylan N.V. and Revance Therapeutics, Inc. underwent strategic collaboration
and license agreement for the development and commercialization of a proposed biosimilar to
BOTOX (onabotulinumtoxinA). Furthermore, key players are focusing on receiving approvals of
its product in key market to expand their presence in global market. For instance, in February
2018, Medytox Inc. filed a new drug application with the China Food and Drug Administration
(CFDA) to its botulinum neurotoxin product Meditoxin in China.
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