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via Health News from Medical News Today on 9/22/08
Since Allergan received FDA approval in 2002 to market Botox as a facial rejuvenation procedure, the product has become the second most-recognized pharmaceutical brand in the U.S. Allergan has a formidable presence in this area since its formula is secret and the highly purified toxin is difficult to replicate.
The market has become a huge competitive arena in which more than 50 competing products, various treatment options, and alternative modalities, are crossing the line in each other's core products and markets, creating an ever more fractured market.
A shift towards less invasive, more effective, safer procedures, accessible to more people, has benefited the facial rejuvenation market, especially the prescription fillers and botulism segment, which enjoyed outstanding worldwide growth of 20.1% annually to reach $1.32 billion in 2007. At $721.3 million, botulism product sales represent more than half of this segment, with 95% coming from sales of Allergan's Botox, $684.9 million in 2007. Botox procedures have steadily increased, up 488% from 786,911 in 2000 to 4,625,192 in 2007.
"No brand can dominate the market forever, and this may be the case with Botox,"
Allergan has enjoyed huge success following an aggressive campaign to promote the benefits of Botox. This was a wakeup call for competitors to accelerate development, product improvement and promotion of existing treatments and the introduction of innovative technologies
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