PUBLISHER: The Insight Partners | PRODUCT CODE: 1592660
PUBLISHER: The Insight Partners | PRODUCT CODE: 1592660
The Europe botulinum toxin market was valued at US$ 1,174.94 million in 2023 and is expected to reach US$ 2,931.74 million by 2031; it is estimated to register a CAGR of 12.1% from 2023 to 2031 .
Aging Population in Europe Drives Europe Botulinum Toxin Market
The aging population in Europe presents a significant opportunity for market growth. As the region's demographic landscape shifts towards an older population, there is a parallel increase in demand for anti-aging treatments, such as botox. With older individuals seeking non-invasive solutions to maintain a youthful appearance, the demand for dermal fillers is increasing. As of January 1, 2023, the estimated population of the European Union was 448.8 million, with almost one-fifth (21.3%) of the population being 65 years of age or older. The EU's population reached a median age of 44.5 years on January 1, 2023. Advancements in filler technology that offer longer-lasting results and natural-looking outcomes cater to the preference of this demographic, further driving market expansion.
Europe Botulinum Toxin Market Overview
The Europe botulinum toxin market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Europe occupies a significant position in the global botulinum toxin market, and it is expected to record a strong growth rate during the forecast period. The market growth in the region is mainly attributed to product developments by botulinum toxin companies and an upsurge in the awareness of modern beauty standards among people from all age groups in European countries such as Germany, the UK, France, and Italy. In addition, advancements in healthcare systems are likely to propel the demand for botulinum toxin across the region in the coming years. The German healthcare sector utilizes advanced technologies in aesthetic and medical procedures. According to the ISAPS, a total of 605,942 nonsurgical aesthetic procedures were performed in the country in 2021, including 306,296 botulinum toxin treatments. Thus, the botulinum toxin market in Germany is expected to grow with the rising number of nonsurgical cosmetic procedures, and the growing awareness of minimally invasive procedures. Also, companies are launching products in the country for direct orders and customer delivery. In February 2023, Evolus, Inc. commercially launched Nuceiva in Germany for direct orders and delivery to customers.
Europe Botulinum Toxin Market Revenue and Forecast to 2031 (US$ Million)
Europe Botulinum Toxin Market Segmentation
The Europe botulinum toxin market is categorized into product, application, end user, and country.
Based on product, the Europe botulinum toxin market is bifurcated into botulinum toxin A and botulinum toxin B. The botulinum toxin A segment held a larger share of Europe botulinum toxin market share in 2023.
In terms of application, the Europe botulinum toxin market is bifurcated into medical and aesthetic. The medical segment held a larger share of Europe botulinum toxin market in 2023. Furthermore, the medical segment is subcategorized into chronic migraine, muscle spasm, over reactive bladder, hyperhidrosis, and others. Additionally, the aesthetic segment is subcategorized into frown lines/ glabellar, forehead lines, crow's feet, square jaw/ masseter, and others.
By end user, the Europe botulinum toxin market is divided into specialty & dermatology clinics, hospitals & clinics, and others. The specialty and dermatology clinics segment held the largest share of Europe botulinum toxin market in 2023.
Based on country, the Europe botulinum toxin market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe botulinum toxin market share in 2023.
Merz Pharma GmbH & Co KGaA, AbbVie Inc, Ipsen SA, Evolus Inc, Medytox Inc, and Galderma SA are some of the leading companies operating in the Europe botulinum toxin market.