Botox currently has a 2 billion dollar a year monopoly on the wrinkle market. Up until the past few years, Botox was used on the wealthy, celebrities, movie starts and the affluent. These days, every Mom in Los Angeles is getting Botox done and it is catching on more and more. We are seeing teenagers and Dads from all over Los Angeles and Beverly Hills come in for Botox treatment.
Johnson & Johnson expects to seek approval next year that could break this monopoly. Botox currently has almost 90% of the market share. J&J’s new product could be available in the US as soon as 2015, if approved by the FDA. Dermatologists and other industry analysts say that this new product could be a real threat to Botox, that is not only the name of a drug, but a word that is synonymous with a treatment as well. Even people who get dysport and other facial aesthetic treatments refer to it as, “getting some Botox” or simply “Bo.”
Johnson and Johnson is probably the only company that is able to go up against Botox. They are a monster of a corporation and have the budget and the sales team to pull this off. They also have a large variety of other products to offer dermatologists seeking solutions for their patients (and not just baby powder)
Analysts are saying that in order for J&J to pull this off, they are going to need to make a treatment that will work faster and longer, or be much cheaper than Botox in order to steal the market from Botox.
We will see what happens in coming months, we would certainty like to see a solution other than Botox come to the market.