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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