At 13.4% CAGR, the South America Neurotoxins Market is projected to be worth US$ 525.57 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the South America neurotoxins market was valued at US$ 280.48 million in 2023 and is expected to reach US$ 525.57 million by 2028, registering a CAGR of 13.4 % from 2023 to 2028. Surge in cosmetic procedures to improve appearance and emergence of innovative facial aesthetic products are the critical factors attributed to the South America neurotoxins market expansion.                   

Structural changes affecting the skin, muscles, ligaments, fat, and bone get noticeable on an individual’s face due to decrease in cellular functions with aging. The inevitable physiological process of aging is generally not conceived positively by many, which, in turn, urges them to indulge in cosmetic rejuvenation procedures to remain youthful visually. Botulinum toxin (BOTA)—which is naturally produced by Clostridium botulinum—is the most popular neurotoxin used in cosmetic procedures. Therefore, the rising popularity of cosmetic procedures involving neurotoxins to reduce facial wrinkles while ensuring safety, effectivity, and efficiency is catalyzing the market for neurotoxins.

On the contrary, improper/inappropriate injection technique hurdles the growth of South America neurotoxins market.

Based on product type, the South America neurotoxins market is segmented into botox, dysport, xenomin, and others. The botox segment held 62.2% market share in 2023, amassing US$ 174.58 million. It is projected to garner US$ 323.58 million by 2028 to expand at 13.1% CAGR during 2023–2028.

Based on application, the South America neurotoxins market is segmented into therapeutic and aesthetic. The aesthetic segment held 50.1% market share in 2023, amassing US$ 140.49 million. It is projected to garner US$ 264.92 million by 2028 to expand at 13.5% CAGR during 2023–2028.

Based on end user, the South America neurotoxins market is segmented into hospitals, specialty clinics, dermatology clinics, and others. The hospitals segment held 52.4% market share in 2023, amassing US$ 146.91 million. It is projected to garner US$ 277.36 million by 2028 to expand at 13.6% CAGR during 2023–2028.

Based on country, the South America neurotoxins market has been categorized into Brazil, Argentina, Venezuela, and the Rest of South America.  Our regional analysis states that Brazil captured 57.9% market share in 2023. It was assessed at US$ 162.31 million in 2023 and is likely to hit US$ 302.62 million by 2028, exhibiting a CAGR of 13.3% during the forecast period.     

Key players dominating the South America neurotoxins market are AbbVie Inc, Hugel Inc, Ipsen SA, Medytox Inc, and Merz Pharma GmbH & Co KGaA among others.   

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