The cosmetic surgery, facial aesthetics and medical lasers market is expected to double in size by 2017—exceeding $3 billion—and the aesthetic laser and light therapy markets for skin resurfacing, hair removal, and laser lipolysis are expected to be the fastest growing cosmetic procedure markets, according to a new report.
Furthermore, the market for botulinum toxin-A drugs, which includes Botox, is estimated to grow to $543 million by 2017, according to the report compiled by iData Research, which specializes in medical device and pharmaceutical market research.
Dr. Kamran Zamanian, CEO of iData, commented, “Allergan has had a monopoly on botulinum toxin A drugs since 2002, but now faces competition from Dysport by Medicis as well as other new competitors expected to enter the market. Allergan and Medicis have been fierce rivals, as their Juvederm and Restylane facial dermal fillers compete in the lucrative dermal filler market.”
PurTox by Mentor is another botulinum toxin drug that the report speculates will be approved in the future, further intensifying the competition in the botulinum toxin market. PurTox is in Phase III clinical trials in the U.S.
The use of botulinum toxins is also expected to increase due to a growing number of therapeutic treatments that go beyond filling wrinkles, including treatment for uncontrolled blinking, certain neck muscle spasms, excessive underarm sweating.
“A growing number of doctors are looking at the therapeutic potential of botulinum-A. There are more cosmetic procedures performed using botulinum-A than therapeutic, however therapeutic procedures use higher doses of the drug, therefore these two markets are similar in value,” said Dr. Zamanian.
The U.S. market for injectables is currently valued at almost $860 million, according to the report, which is titled “Markets for Cosmetic Surgery, Facial Aesthetics and Medical Laser Devices 2011.”