Botox injection for cometic use Essay Example | Topics and Well Written Essays - 1750 words

botulinum toxin A injection for cometic use - Essay Example botulinum toxin,popularly know by its trade name botulinum toxin A, is a protein and neurotoxin developed by the bacterium Clostridium botulinum.Botox is used for several medical exam as hearty as nonfunctional procedures. Today, Botox injection that consists of a small dose of botulinum toxin is used for a variety of augmentative applications. Botox injection is widely used to paralyze facial muscles for the purpose of preventing the development of wrinkles According to a report published by the Ameri can buoy Society of Plastic Surgeons, Botox ground cosmetic operation was most common in the US with 4.6 million procedures as of 2007 (Botox, n. d.). Although side effects of the Botox injections many cosmetic applications are still debated, the use of Botox injection for cosmetic purposes has been increasing steadily. This paper will explore the potentiality of the Botox injection in cosmetic applications using the Por ters Five Forces Model concept. Five forces Forces driving service area competition Conclusion Intensity of rivalry Allergan Inc and Medicis are the ii main companies involved in the distribution of Botox in the US. Botox injections are sold across the world despite geographic differences or medical culture. Data indicate that Botox injection was used in nearly 4.6 cosmetic operation procedures in the US as of 2007. The same trend can be seen through the global nations, particularly developed nations. Over the last a couple of(prenominal) years, a growing beauty conscious culture in the europium assisted the Botox market to achieve tremendous growth rate despite the worse effects of the sovereign debt crisis. It is interesting to note that the Botox achieved a fabulous growth rate when many other leading drugs and pharmaceutical products failed to even maintain their growth levels. Market experts anticipate that Botox sales would sojourn to grow because of the products rapid eff ects and growing concerns over appearance. Online market for Botox has also been performing well over the last few years. Since it is very easy to purchase Botox products from any parts of the globe using internet, today Botox manufactures focus more on the online sector. In the unite Kingdom (as cited in Qureshi, 2009), Botox clinics generally charge from ?110 to ?400 an injection. For beauty conscious Europeans, it is not a huge price. Hence, the sales (both physical and online) of Botox injections are likely to grow over the coming years unless there is no effective alternative developed. High While analyzing the Botox market worldwide, it is limpid that competition in the Botox market continues to grow despite the recent global economic slowdown. Rivalry is likely to remain intense in the Botox market as there is no effective alternative to Botox injection yet. Threat of new entrants Although Botox injections are very well known for their cosmetic uses, only a few of the cosme tic applications of the Botox have been approved by the US Food and Drug Administration. The FDA is still researching short marge as well as long term side effects of Botox injections cosmetic use. The two major Botox distributors in US, Allergan Inc. and Medicis have been constantly in the new as a result of their involvement with Botox products. In 2008, Botox users filed a lawsuit against the Allergan Inc. arguing that the makeup had not properly communicated the dangers of Botox injections to users. The lawsuit mainly resulted from a womans death as a result of use of Botox for cosmetic reasons. Subsequently, public interest group including Public Citizen complained against the Botox products for their life threatening complications. As a result, FDA required the Botox distributors to issue black box model (it is the strongest safety measure taken by the FDA) for all Botox products. Hence, these legal complexities associated with Botox injection distribution would persuade ne w marketers not to enter this line of work field. Similarly,