An increase in demand for treatments using botulinum toxin is the contributing factor for expected growth.
Fortune Business Insights forecasts the botulinum toxin market will reach US $8,309 million by 2026 after a valuation of $4,490 million in 2018. It expects the demand for treatments and procedures using botulinum toxins will increase worldwide and attributes this to the jump in market value, as outlined in the report, ‘Botulinum Toxin Market: Global Market Analysis, Insights and Forecast, 2019-2026.’
Kelly George, owner of Kelly George Aesthetics, says the increase in demand is reflected in her clinic. She has seen a significant jump in anti-wrinkle injection usage quantified through her data reports. There was roughly the same number of new clients into her clinic for the June/July/August period each year, but more of them are opting for anti-wrinkle treatments opposed to laser or other skin treatments.
“Looking at the same periods each year, the increase in clients having anti-wrinkle injections from 2018 -2019 was 8 per cent while the increase from 2019 -2020 was 41 per cent,” Kelly said.
“Furthermore, the average spend has increased for each client by 9 per cent versus the previous year of only 2 per cent, which means not only are more clients choosing anti-wrinkle injections, they are also having more areas treated,” she adds.
Another factor driving market growth is ‘a high consciousness amongst individuals regarding their appearance’. Patients are opting for non-invasive/minimally invasive treatments to achieve their desired look. Dr Naomi, founder of The Manse Clinic, says demand for botulinum toxin and other injectables have significantly increased in the last few months since she reopened after lockdown, and believes people are more focused on their appearance than ever.
“It’s beautiful to see that people are embracing self-care and also that injectables just continue to become more accepted,” Dr Naomi said.
“People are seeking ways to help improve their self-confidence and appearance after being locked down at home for many months without access to their usual beauty regimes. Anti-wrinkle injections offer a “quick fix” with natural and reproducible results for these clients,” Medical Director of Youth Lab, Dr Kate Jameson, said.
Botulinum toxin holds potential for therapeutics other than cosmetics purposes with currently 100 approved botulinum toxin-associated therapeutics existing in the market.
“We saw an increased demand in toxin treatments in our clinic, both for cosmetic indications like wrinkle relaxing as well as medical indications like migraine and teeth grinding,” Dr Kate said.
“We have seen a huge surge in demand after our clinic reopened post-COVID lockdown, and there is no end in sight. We are attributing this increased demand for toxins to their ease of administration, lower price point compared to other aesthetic treatments such as fillers and laser, and also the absence of downtime making toxin treatments desirable for clients from all walks of life,” she finishes.