The popularity of Botulinum Toxin A, also known as Botox®, has significantly increased, primarily due to societal norms and beauty standards promoted by social media. The market value of this treatment is expected to rise from $6.6 billion to $10.2 billion between 2022 and 2029, with a surge in the number of procedures expected, growing at a rate just below 7%. However, the quantity of active ingredient and accessory protein in each brand of botulinum toxin A varies, which means the amount of injectable needed to achieve a similar effect for a specific procedure will differ depending on the brand. Consequently, we aim to examine the top three market competitors to analyze their strategies and overall ability to maintain their position in a highly competitive landscape.
Top 3 Market Share Leaders:
- Allergan Aesthetics
- Merz Aesthetics
The global market for botulinum toxin A was dominated by Allergan, which was acquired by AbbVie in May 2020. Allergan’s Botox® product has long been the market leader, but its position was challenged by the FDA approval of competitors like Merz and Galderma. However, Allergan’s brand loyalty, product innovation, and higher pricing will likely allow it to maintain its leading position in the market.
Botox® is typically effective for up to four months, while longer-lasting solutions can last up to six months. In July 2020, AbbVie received FDA approval for the use of Botox® in treating spasticity in pediatric patients. In February 2021, the company also received FDA approval for the treatment of detrusor overactivity associated with a neurological condition in certain pediatric patients.
Galderma holds the second position in the global botulinum toxin A market, capturing its share through a distribution agreement with Ipsen, the manufacturer of its identical abobotulinum toxin A injections, Dysport® and Azzalure®. The global sales of Dysport® and Azzalure® are considered part of Galderma’s market share overall.
Galderma has experienced significant growth in the therapeutic space over the years by obtaining approvals. In addition to cervical dystonia, Dysport® was granted FDA approval in 2015 for the therapeutic treatment of upper limb spasticity in adult patients. Later in 2016, it was also approved for lower limb spasticity in pediatric patients over the age of two. Dysport® is also widely used in the aesthetic segment of the market. In January 2020, Dysport® became the first botulinum toxin approved in Europe for pediatric upper limb spasticity in over a decade when it received approval in the U.K. for the symptomatic treatment of upper limb spasticity in children with cerebral palsy.
Merz Aesthetics, a division of Merz, holds the third-leading position in the global botulinum toxin A market. In November 2019, Merz divided into three business units to enhance customer focus: Merz Aesthetics, Merz Therapeutics, and Merz Pharmaceuticals. Together, these divisions represent Merz Healthcare. In its fiscal year 2019-2020, Merz Healthcare reported revenue of almost €982 million, which was a slight decrease of 10% from the previous year.
Currently, there are no other toxins approved for the treatment of excessive drooling, which presents an opportunity for Merz to expand in the therapeutic field in the upcoming years. In January 2021, Merz Aesthetics and Candela Corporation announced a collaboration to provide access to a broad aesthetic portfolio, including various devices, injectables, and skincare products.
In conclusion, the market for botulinum toxin A, commonly known as Botox®, is growing at an impressive rate due to the increasing demand for cosmetic and therapeutic procedures. As the industry continues to evolve, it is essential for the top market competitors such as Allergan Aesthetics, Galderma, and Merz Aesthetics to remain innovative and maintain their position in the highly competitive landscape. By analyzing their strategies and understanding their ability to adapt to changing consumer needs and regulatory guidelines, we can gain valuable insights into the future direction of this market. With the growing acceptance and availability of botulinum toxin A products, we can expect to see further advancements in the field of aesthetics and therapeutics in the coming years.